(1) Where a payment service provider refuses to execute a payment order or to initiate a payment transaction, the refusal and, if possible, the reasons for it and the procedure for correcting any factual mistakes that led to the refusal shall be notified to the payment service user, unless prohibited by law.

(2) A payment service provider shall provide or make available the notification referred to in paragraph (1) in an agreed manner at the earliest opportunity, and in any case, within the periods specified in Regulation 107.

(3) A framework contract may include a condition that the payment service provider concerned may charge a reasonable fee for a refusal referred to in paragraph (1) if the refusal is objectively justified.

(4) Where all of the conditions set out in a payer’s framework contract are satisfied, the payer’s account servicing payment service provider shall not refuse to execute an authorised payment order irrespective of whether the payment order is initiated by a payer, including through a payment initiation service provider, or by or through a payee, unless prohibited by law.

(5) For the purposes of Regulations 107 and 112 a payment order for which execution has been refused shall be deemed not to have been received.