Section 65(1)

This regulation applies in respect of payment instruments which, under the framework contract governing their use— can be used only to execute individual payment transactions of 30 euros or less, or in relation to payment transactions executed wholly within the United Kingdom, 60 euros or less; have a spending limit of 150 euros, or where payment transactions must be executed wholly within the United Kingdom, 300 euros; or store funds that do not exceed 500 euros at any time.

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Source: legislation.gov.uk · retrieved 2026-09-04