1. Where a payment order is initiated directly by
the payer, the payer’s payment service provider shall, without
prejudice to Article 71, Article 88(2) and (3), and Article 93, be
liable to the payer for correct execution of the payment transaction,
unless it can prove to the payer and, where relevant, to the payee’s
payment service provider that the payee’s payment service provider
received the amount of the payment transaction in accordance with
Article 83(1). In that case, the payee’s payment service provider shall
be liable to the payee for the correct execution of the payment
transaction.
Where the payer’s payment service provider is
liable under the first subparagraph, it shall, without undue delay,
refund to the payer the amount of the non-executed or defective payment
transaction, and, where applicable, restore the debited payment account
to the state in which it would have been had the defective payment
transaction not taken place.
The credit value date for the payer’s payment account shall be no later than the date on which the amount was debited.
Where the payee’s payment service provider is
liable under the first subparagraph, it shall immediately place the
amount of the payment transaction at the payee’s disposal and, where
applicable, credit the corresponding amount to the payee’s payment
account.
The credit value date for the payee’s payment
account shall be no later than the date on which the amount would have
been value dated, had the transaction been correctly executed in
accordance with Article 87.
Where a payment transaction is executed late, the
payee’s payment service provider shall ensure, upon the request of the
payer’s payment service provider acting on behalf of the payer, that the
credit value date for the payee’s payment account is no later than the
date the amount would have been value dated had the transaction been
correctly executed.
In the case of a non-executed or defectively
executed payment transaction where the payment order is initiated by the
payer, the payer’s payment service provider shall, regardless of
liability under this paragraph, on request, make immediate efforts to
trace the payment transaction and notify the payer of the outcome. This
shall be free of charge for the payer.
2. Where a payment order is initiated by or
through the payee, the payee’s payment service provider shall, without
prejudice to Article 71, Article 88(2) and (3), and Article 93, be
liable to the payee for correct transmission of the payment order to the
payment service provider of the payer in accordance with Article 83(3).
Where the payee’s payment service provider is liable under this
subparagraph, it shall immediately re-transmit the payment order in
question to the payment service provider of the payer.
In the case of a late transmission of the payment
order, the amount shall be value dated on the payee’s payment account no
later than the date the amount would have been value dated had the
transaction been correctly executed.
In addition, the payment service provider of the
payee shall, without prejudice to Article 71, Article 88(2) and (3), and
Article 93, be liable to the payee for handling the payment transaction
in accordance with its obligations under Article 87. Where the payee’s
payment service provider is liable under this subparagraph, it shall
ensure that the amount of the payment transaction is at the payee’s
disposal immediately after that amount is credited to the payee’s
payment service provider’s account. The amount shall be value dated on
the payee’s payment account no later than the date the amount would have
been value dated had the transaction been correctly executed.
In the case of a non-executed or defectively
executed payment transaction for which the payee’s payment service
provider is not liable under the first and second subparagraphs, the
payer’s payment service provider shall be liable to the payer. Where the
payer’s payment service provider is so liable he shall, as appropriate
and without undue delay, refund to the payer the amount of the
non-executed or defective payment transaction and restore the debited
payment account to the state in which it would have been had the
defective payment transaction not taken place. The credit value date for
the payer’s payment account shall be no later than the date the amount
was debited.
The obligation under the fourth subparagraph shall
not apply to the payer’s payment service provider where the payer’s
payment service provider proves that the payee’s payment service
provider has received the amount of the payment transaction, even if
execution of payment transaction is merely delayed. If so, the payee’s
payment service provider shall value date the amount on the payee’s
payment account no later than the date the amount would have been value
dated had it been executed correctly.
In the case of a non-executed or defectively
executed payment transaction where the payment order is initiated by or
through the payee, the payee’s payment service provider shall,
regardless of liability under this paragraph, on request, make immediate
efforts to trace the payment transaction and notify the payee of the
outcome. This shall be free of charge for the payee.
3. In addition, payment service providers shall
be liable to their respective payment service users for any charges for
which they are responsible, and for any interest to which the payment
service user is subject as a consequence of non-execution or defective,
including late, execution of the payment transaction.
