European Union (Payment Services) Regulations 2018.
Statutory Instruments
Source: Statutory Instruments

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paragraphs: (1) These Regulations may be cited as the European Union (Payment Services) Regulations 2018.
(2) Subject to paragraph (3), these Regulations come into operation on 13 January 2018.
(3) Regulations 89(2)(c), 90(4)(d) and (5)(a), 91(3)(c) and (4)(a) and 120 come into operation 18 months from the date the regulatory technical standards referred to in Article 98 of the Payment Services Directive enter into force.
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paragraphs: (1) In these Regulations, unless the context otherwise requires-—
(2) A word or expression that is used in these Regulations and is also used in the Payment Services Directive has, unless the contrary intention appears, the same meaning in these Regulations that it has in the Payment Services Directive.
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paragraphs: (1) Subject to the limitations with regard to the currency of a payment transaction specified in paragraphs (2), (3) and (4), Parts 3 and 4 apply—
(a) in respect of a payment service provided by a payment service provider—
(i) established in the State, or
(ii) providing that payment service to a payment service user in the State—
(I)in the exercise of the right of establishment, or
(II)through an agent established in the State, or
(b) in a case in which the provision concerned applies to or imposes an obligation on a payment service user, where that payment service user is resident in or established in the State.
(2) Parts 3 and 4 apply to payment transactions in the currency of a Member State where both the payer’s payment service provider and the payee’s payment service provider are, or the sole payment service provider in the payment transaction is, located in a Member State.
(3) Part 3, except Regulation 69(1) (b), Regulation 76(b) (v) and Regulation 80(a), and Part 4, except for Regulations 105 to 109, apply to payment transactions in a currency that is not the currency of a Member State where both the payer’s payment service provider and the payee’s payment service provider are, or the sole payment service provider in the payment transaction is, located within the Union, in respect to those parts of the payments transaction which are carried out in a Member State.
(4) Part 3, except for Regulation 69(1) (b), Regulation 76(b) (v), Regulation 76(e) (vii) and Regulation 80(a), and Part 4, except for Regulation 86(3) and (6), Regulations 100, 101, 105, 107(1) and (2), 112 and 115, apply to payment transactions in all currencies where only one of the payment service providers is located in a Member State, in respect to those parts of the payments transaction which are carried out in a Member State.
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paragraphs: (1) These Regulations do not apply to-—
(a) payment transactions made exclusively in cash directly by a payer to a payee, without any intermediary intervention,
(b) payment transactions from a payer to a payee through a commercial agent authorised under an agreement to negotiate or conclude the sale or purchase of goods or services on behalf of the payer only or the payee only,
(c) professional physical transport of banknotes and coins, including their collection, processing and delivery,
(d) payment transactions consisting of non-professional cash collection and delivery within the framework of a non-profit or charitable activity,
(e) services where cash is provided by a payee to a payer as part of a payment transaction following an explicit request by the payment service user just before the execution of the payment transaction through a payment for the purchase of goods or services,
(f) cash-to-cash currency exchange operations where the funds are not held on a payment account,
(g) payment transactions based on any of the following classes of document drawn on a payment service provider with a view to placing funds at the disposal of a payee:
(i) paper cheques governed by the Geneva Convention of 19 March 1931 providing a uniform law for cheques;
(ii) paper cheques similar to those referred to in clause (i) and governed by the law of a Member State which is not a party to the Geneva Convention of 19 March 1931 providing a uniform law for cheques;
(iii) paper-based drafts in accordance with the Geneva Convention of 7 June 1930 providing a uniform law for bills of exchange and promissory notes;
(iv) paper-based drafts similar to those referred to in clause (iii) and governed by the law of a Member State which is not a party to the Geneva Convention of 7 June 1930 providing a uniform law for bills of exchange and promissory notes;
(v) paper-based vouchers;
(vi) paper-based traveller’s cheques;
(vii) paper-based postal money orders, as defined by the Universal Postal Union,
(h) without prejudice to Regulation 43, payment transactions carried out within a payment or securities settlement system between—
(i) on the one hand, settlement agents, central counterparties, clearing houses or central banks and other participants of the system, and
(ii) on the other hand, payment service providers,
(i) payment transactions related to securities asset servicing, including dividends, income or other distributions, or redemption or sale, carried out by persons referred to in subparagraph (h) or by investment firms, credit institutions, collective investment undertakings or asset management companies providing investment services and any other entities allowed to have the custody of financial instruments,
(j) services provided by technical service providers, which support the provision of payment services, without them entering at any time into possession of the funds to be transferred, including processing and storage of data, trust and privacy protection services, data and entity authentication, information technology and communication network provision, provision and maintenance of terminals and devices used for payment services, with the exclusion of payment initiation services and account information services,
(k) services based on specific payment instruments that can be used only in a limited way, that meet one of the following conditions:
(i) instruments allowing the holder to acquire goods or services only in the premises of the issuer or within a limited network of service providers under direct commercial agreement with a professional issuer;
(ii) instruments which can be used only to acquire a very limited range of goods or services;
(iii) instruments valid only in a single Member State provided at the request of an undertaking or a public sector entity and regulated by a national or regional public authority for specific social or tax purposes to acquire specific goods or services from suppliers having a commercial agreement with the issuer,
(l) payment transactions by a provider of electronic communications networks or services provided in addition to electronic communications services for a subscriber to the network or service—
(i) for purchase of digital content and voice-based services, regardless of the device used for the purchase or consumption of the digital content and charged to the related bill, or
(ii) performed from or via an electronic device and charged to the related bill within the framework of a charitable activity or for the purchase of tickets,
(I) the cumulative value of payment transactions for an individual subscriber does not exceed €300 per month, or
(II) where a subscriber pre-funds its account with the provider of the electronic communications network or service, the cumulative value of payment transactions does not exceed €300 per month,
(m) payment transactions carried out between payment service providers, their agents or their branches for their own account,
(n) payment transactions and related services between a parent undertaking and its subsidiary or between subsidiaries of the same parent undertaking, without any intermediary intervention by a payment service provider other than an undertaking belonging to the same group, and
(o) subject to paragraph (2), cash withdrawal services offered by means of an automated teller machine, where the provider—
(i) acts on behalf of one or more card issuers,
(ii) is not a party to a framework contract with a customer who withdraws money from a payment account, and