Payment Services (Amendment) Regulations 2024 (SI 2024/1013)
10 Oct 2024
United Kingdom
1 min read
The Payment Services (Amendment) Regulations 2024 have been published, with an accompanying explanatory memorandum. The instrument allows a payment service provider to delay the crediting of the payee’s payment service provider’s account for certain in-scope payments by up to a further 72 hours. This delay is permissible only when the payer’s payment service provider has established that there are reasonable grounds to suspect that the payment order has been made due to fraud or dishonesty perpetrated by a third party. The Regulations come into force on 30 October 2024.
