Section 81

A payer's payment service provider must not debit the payment account before receipt of a payment order. Subject to paragraphs (3) to (6), for the purposes of these Regulations the time of receipt of a payment order is the time at which the payment order is received by the payer's payment service provider. If the time of receipt of a payment order does not fall on a business day for the payer's payment service provider, the payment order is deemed to have been received on the first business day thereafter. The payment service provider may set a time towards the end of a business day after which any payment order received will be deemed to have been received on the following business day. Where the payment service user initiating a payment order agrees with its payment service provider that execution of the payment order is to take place— the time of receipt is deemed to be the day so agreed. on a specific day; on the last day of a certain period; or on the day on which the payer has put funds at the disposal of its payment service provider, If the day agreed under paragraph (5) is not a business day for the payer's payment service provider, the payment order is deemed to have been received on the first business day thereafter.

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