Česká národní banka


CNB > Consumer protection and financial literacy > Consumer protection > Information duties of a payment service provider

Information duties of a payment service provider

A payment service provider must provide the consumer (user) with various pieces of information at various stages.

A payment service consists in the execution of

  • repeated payment transactions on the basis of a master agreement, or
  • one-off payment transactions not covered by a master agreement.
  1. Information duties of the provider prior to the conclusion of a payment service contract
    The provider must make available (in the case of a contract on a one-off payment transaction) or provide (in the case of a master agreement on payment services) to the consumer (user) the information specified below well before the contract becomes binding on the user. Making available means providing guidance enabling the user to find the information. The manner of searching must not place an excessive burden on the user. As concerns provision, the provider complies with his duty to provide information to the user if the user receives the information on a durable data medium as a result of the provider’s action.
    1. In the case of a one-off payment transaction, this means at least making available
      • the data or unique identifier the provision of which is a prerequisite for proper execution of the payment order,
      • the maximum time limit for the execution of the payment service,
      • information about the remuneration the user is obliged to pay to the provider and, where the remuneration comprises multiple independent items, a list of those items,
      • where applicable, information on the actual or reference exchange rate to be used in the payment transaction,
      • other information specified for payment service provision on the basis of a master agreement where applicable with regard to the content of the contract on a one-off payment transaction.
    2. In the case of payment services provided on the basis of a master agreement, this means providing
      • information about the provider (commercial name, registered address and other contact information, information about registration in a list or register of providers, name and address of the relevant supervisory authority),
      • information about the payment service provided, in particular a description of it, its form and the manner of transmission of consent to the execution of the payment transaction and withdrawal of such consent, information on the time of receipt of the payment order, the maximum time limit for the execution of the payment service, information about the remuneration the user is obliged to pay to the provider and, where the remuneration comprises multiple independent items, a list of those items, and, where applicable, information on the interest or exchange rates to be used and any right of the provider to change them unilaterally,
      • information about the manner of communication between the user and the provider,
      • information about the master agreement, in particular the duration and manner of amendment of the agreement, notice and its conditions, the law governing the agreement, the supervisory authority and the authorities entitled to rule on any disputes arising from the agreement,
      • information about the obligations and responsibilities of the provider and user arising under the agreement, in particular information on security measures for payment instruments issued, the conditions under which the payer bears the loss stemming from an unauthorised payment transaction, the manner of, and time limits for, notifying the provider of an unauthorised or incorrectly executed payment transaction and the extent of his liability and the conditions for returning the amount of an authorised payment transaction.
  2. Information provided to the payer before the execution of a payment transaction
    Before executing a payment transaction governed by a master agreement and based on a payment order made by the payer, the provider must provide the payer at his request with information about
    • the maximum time limit for the execution of the payment transaction,
    • the remuneration the payer is obliged to pay to the provider for executing the payment transaction and, where the remuneration comprises multiple independent items, a list of those items.