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Version status: Revoked | Document consolidation status: Updated to reflect all known changes
Version date: 13 January 2018 - onwards
  Version 3 of 3    

Regulation 89 Incorrect unique identifiers.

Revoked from 13 January 2018

(1) If a payment order is executed in accordance with the correct unique identifier, the payment order is to be taken to have been executed correctly so far as the order required payment to the payee specified by the unique identifier.

(2) If a unique identifier provided by a payment service user is incorrect, the payment service provider concerned is not liable for non-execution or defective execution of the relevant payment transaction. However, the payer's payment service provider concerned shall make reasonable efforts to recover the funds involved in the transaction.

(3) If so agreed in the relevant framework contract, a payment service provider may charge a payment service user for recovery.

(4) If a payment service user provides information additional to the information or unique identifier that must be provided by the user for a payment order to be properly executed, the payment service provider concerned remains liable only for the execution of payment transactions in acc

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