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Directive 2007/64/EC - Payment Services Directive (PSD)RecitalsTitle I Subject Matter, Scope and Definitions (arts. 1-4)Article 1 Subject matterArticle 2 ScopeArticle 3 Negative scopeArticle 4 DefinitionsTitle II Payment Service Providers (arts. 5-29)Chapter 1 Payment institutions (arts. 5-27)Section 1 General rules (arts. 5-16)Article 5 Applications for authorisationArticle 6 Initial capitalArticle 7 Own fundsArticle 8 Calculation of own fundsArticle 9 Safeguarding requirementsArticle 10 Granting of authorisationArticle 11 Communication of the decisionArticle 12 Withdrawal of authorisationArticle 13 RegistrationArticle 14 Maintenance of authorisationArticle 15 Accounting and statutory auditArticle 16 ActivitiesSection 2 Other requirements (arts. 17-19)Article 17 Use of agents, branches or entities to which activities are outsourcedArticle 18 LiabilityArticle 19 Record-keepingSection 3 Competent authorities and supervision (arts. 20-25)Article 20 Designation of competent authoritiesArticle 21 SupervisionArticle 22 Professional secrecyArticle 23 Right to apply to the courtsArticle 24 Exchange of informationArticle 25 Exercise of the right of establishment and freedom to provide servicesSection 4 Waiver (arts. 26-27)Article 26 ConditionsArticle 27 Notification and informationChapter 2 Common provisions (arts. 28-29)Article 28 Access to payment systemsArticle 29 Prohibition for persons other than payment service providers to provide payment servicesTitle III Transparency of Conditions and Information Requirements for Payment Services (arts. 30-50)Chapter 1 General rules (arts. 30-34)Article 30 ScopeArticle 31 Other provisions in Community legislationArticle 32 Charges for informationArticle 33 Burden of proof on information requirementsArticle 34 Derogation from information requirements for low-value payment instruments and electronic moneyChapter 2 Single payment transactions (arts. 35-39)Article 35 ScopeArticle 36 Prior general informationArticle 37 Information and conditionsArticle 38 Information for the payer after receipt of the payment orderArticle 39 Information for the payee after executionChapter 3 Framework contracts (arts. 40-48)Article 40 ScopeArticle 41 Prior general informationArticle 42 Information and conditionsArticle 43 Accessibility of information and conditions of the framework contractArticle 44 Changes in conditions of the framework contractArticle 45 TerminationArticle 46 Information before execution of individual payment transactionsArticle 47 Information for the payer on individual payment transactionsArticle 48 Information for the payee on individual payment transactionsChapter 4 Common provisions (arts. 49-50)Article 49 Currency and currency conversionArticle 50 Information on additional charges or reductionsTitle IV Rights and Obligations in Relation to the Provision and use of Payment Services (arts. 51-83)Chapter 1 Common provisions (arts. 51-53)Article 51 ScopeArticle 52 Charges applicableArticle 53 Derogation for low value payment instruments and electronic moneyChapter 2 Authorisation of payment transactions (arts. 54-63)Article 54 Consent and withdrawal of consentArticle 55 Limits of the use of the payment instrumentArticle 56 Obligations of the payment service user in relation to payment instrumentsArticle 57 Obligations of the payment service provider in relation to payment instrumentsArticle 58 Notification of unauthorised or incorrectly executed payment transactionsArticle 59 Evidence on authentication and execution of payment transactionsArticle 60 Payment service provider's liability for unauthorised payment transactionsArticle 61 Payer's liability for unauthorised payment transactionsArticle 62 Refunds for payment transactions initiated by or through a payeeArticle 63 Requests for refunds for payment transactions initiated by or through a payeeChapter 3 Execution of payment transactions (arts. 64-78)Section 1 Payment orders and amounts transfer red (arts. 64-67)Article 64 Receipt of payment ordersArticle 65 Refusal of payment ordersArticle 66 Irrevocability of a payment orderArticle 67 Amounts transferred and amounts receivedSection 2 Execution time and value date (arts. 68-73)Article 69 Payment transactions to a payment accountArticle 70 Absence of payee's payment account with the payment service providerArticle 71 Cash placed on a payment accountArticle 72 National payment transactionsArticle 73 Value date and availability of fundsArticle 68 ScopeSection 3 Liability (arts. 74-78)Article 74 Incorrect unique identifiersArticle 75 Non-execution or defective executionArticle 76 Additional financial compensationArticle 77 Right of recourseArticle 78 No liabilityChapter 4 Data protection (art. 79)Article 79 Data protectionChapter 5 Out-of-court complaint and redress procedures for the settlement of disputes (arts. 80-83)Section 1 Complaint procedures (arts. 80-82)Article 80 ComplaintsArticle 81 PenaltiesArticle 82 Competent authoritiesSection 2 Out-of-court redress procedures (art. 83)Article 83 Out-of-court redressTitle V Implementing Measures and Payments Committee (arts. 84-85)Article 84 Implementing measuresArticle 85 CommitteeTitle VI Final Provisions (arts. 86-96)Article 86 Full harmonisationArticle 87 ReviewArticle 88 Transitional provisionArticle 89 Amendment of Directive 97/7/ECArticle 90 Amendments of Directive 2002/65/ECArticle 91 Amendments of Directive 2005/60/ECArticle 92 Amendments of Directive 2006/48/ECArticle 93 RepealArticle 94 TranspositionArticle 95 Entry into forceArticle 96 AddresseesAnnex - Payment Services (Definition 3 in Article 4)Done at
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AI Summary of Section 1 General rules (arts. 5-16)

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Version status: | Document consolidation status: Updated to reflect all known changes
Version date: 5 December 2007 - onwards

Section 1 General rules (arts. 5-16)

Future version Draft proposed change
Article 5 Applications for authorisation
Article 6 Initial capital
Article 7 Own funds
Article 8 Calculation of own funds
Article 9 Safeguarding requirements
Article 10 Granting of authorisation
Article 11 Communication of the decision
Article 12 Withdrawal of authorisation
Article 13 Registration
Article 14 Maintenance of authorisation
Article 15 Accounting and statutory audit
Article 16 Activities
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