Updated 16/09/2024
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Article 14 - Information about the switching service

Article 14

Information about the switching service

1.   Member States shall ensure that payment service providers make available to consumers the following information about the switching service:

(a)

the roles of the transferring and receiving payment service provider for each step of the switching process, as indicated in Article 10;

(b)

the time-frame for completion of the respective steps;

(c)

the fees, if any, charged for the switching process;

(d)

any information that the consumer will be asked to provide; and

(e)

the alternative dispute resolution procedures referred to in Article 24.

Member States may require that payment service providers also make available other information, including, where applicable, the information necessary for the identification of the deposit guarantee scheme within the Union of which the payment service provider is a member.

2.   The information referred to in paragraph 1 shall be made available free of charge on paper or another durable medium at all premises of the payment service provider accessible to consumers, shall be available in electronic form on its website at all times, and shall be provided to consumers on request.