The FCA is required under the Payment Accounts Directive to develop a list of the key services linked to payment accounts that are subject to a fee in the UK. The FCA is required to develop a list of between 10 and 20 of the ‘most representative services’ linked to payment accounts in the UK. The FCA will compile this by considering the services most commonly used by consumers and those that generate the highest costs for consumers.
The FCA has now issued a call for input seeking views on the services that should be included in its list and the suggested terms and definitions to describe these services. The deadline for providing input is 17 July 2015.
View Call for Input: Terms and definitions for services which are linked to payment accounts and subject to fees, 17 June 2015