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Version status: Revoked | Document consolidation status: Updated to reflect all known changes
Version date: 13 January 2018 - onwards
  Version 4 of 4    

Regulation 77 Requests for refunds for payment transactions initiated by or through a payee.

Revoked from 13 January 2018

(1) A payer may request a refund under Regulation 76 up to eight weeks after the date on which the relevant funds were debited.

(2) Within ten business days of receiving a request for a refund, the payment service provider concerned shall either refund the full amount of the payment transaction or provide reasons for refusing the refund, and contact details for the Bank and the Financial Services and Pensions Ombudsman.

(3) A payment service provider may not refuse a refund in a case to which Regulation 76(4) applies.

Comparing proposed amendment...