On 12 June 2025, the Payment Services and Payment Accounts (Contract Termination) (Amendment) Regulations 2025 were made together with an explanatory memorandum.

These Regulations amend regulation 51 of the Payment Services Regulations 2017 to impose new requirements on payment service providers (PSPs) in relation to the termination of framework contracts for payment services concluded for an indefinite period and entered into on or after 28 April 2026. The new requirements include that PSPs must give 90 days’ instead of two months’ notice before the termination of a contract takes effect and the termination notice must also contain certain information including an explanation of the reasons for termination which is sufficiently detailed and specific to enable the payment service user to understand why the framework contract is being terminated.

The Regulations come into force on 28 April 2026.