> For the complete documentation index, see [llms.txt](https://www.headlesslaw.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://www.headlesslaw.com/psd2/readme.md). # PSD2 *In force · Consolidated version of 17 January 2025 · Not yet verified against the official text ·* [*Official source*](https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02015L2366-20250117) **Directive (EU) 2015/2366** — of the European Parliament and of the Council of 25 November 2015 on payment services in the internal market, amending Directives 2002/65/EC, 2009/110/EC and 2013/36/EU and Regulation (EU) No 1093/2010, and repealing Directive 2007/64/EC The full text is available article by article, one page per article (`articles/`). Every numbered paragraph and point carries a stable anchor (`#p-3` for paragraph 3, `#p-3-a` for its point (a)), so any provision can be cited with a direct link. The English consolidated manifestation from CELLAR (the recitals: the English Official Journal text, OJ L 337, 23.12.2015) is reproduced verbatim; the official text remains the EU publication at [EUR-Lex](https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02015L2366-20250117). ### Contents * [Recitals](/psd2/recitals.md) #### [Title I — Subject matter, scope and definitions](/psd2/titles/i.md) * [Article 1 — Subject matter](/psd2/articles/1.md) * [Article 2 — Scope](/psd2/articles/2.md) * [Article 3 — Exclusions](/psd2/articles/3.md) * [Article 4 — Definitions](/psd2/articles/4.md) #### [Title II — Payment service providers](/psd2/titles/ii.md) **Chapter 1 — Payment institutions** **Section 1 — General rules** * [Article 5 — Applications for authorisation](/psd2/articles/5.md) * [Article 6 — Control of the shareholding](/psd2/articles/6.md) * [Article 7 — Initial capital](/psd2/articles/7.md) * [Article 8 — Own funds](/psd2/articles/8.md) * [Article 9 — Calculation of own funds](/psd2/articles/9.md) * [Article 10 — Safeguarding requirements](/psd2/articles/10.md) * [Article 11 — Granting of authorisation](/psd2/articles/11.md) * [Article 12 — Communication of the decision](/psd2/articles/12.md) * [Article 13 — Withdrawal of authorisation](/psd2/articles/13.md) * [Article 14 — Registration in the home Member State](/psd2/articles/14.md) * [Article 15 — EBA register](/psd2/articles/15.md) * [Article 16 — Maintenance of authorisation](/psd2/articles/16.md) * [Article 17 — Accounting and statutory audit](/psd2/articles/17.md) * [Article 18 — Activities](/psd2/articles/18.md) **Section 2 — Other requirements** * [Article 19 — Use of agents, branches or entities to which activities are outsourced](/psd2/articles/19.md) * [Article 20 — Liability](/psd2/articles/20.md) * [Article 21 — Record-keeping](/psd2/articles/21.md) **Section 3 — Competent authorities and supervision** * [Article 22 — Designation of competent authorities](/psd2/articles/22.md) * [Article 23 — Supervision](/psd2/articles/23.md) * [Article 24 — Professional secrecy](/psd2/articles/24.md) * [Article 25 — Right to apply to the courts](/psd2/articles/25.md) * [Article 26 — Exchange of information](/psd2/articles/26.md) * [Article 27 — Settlement of disagreements between competent authorities of different Member States](/psd2/articles/27.md) * [Article 28 — Application to exercise the right of establishment and freedom to provide services](/psd2/articles/28.md) * [Article 29 — Supervision of payment institutions exercising the right of establishment and freedom to provide services](/psd2/articles/29.md) * [Article 30 — Measures in case of non-compliance, including precautionary measures](/psd2/articles/30.md) * [Article 31 — Reasons and communication](/psd2/articles/31.md) **Section 4 — Exemption** * [Article 32 — Conditions](/psd2/articles/32.md) * [Article 33 — Account information service providers](/psd2/articles/33.md) * [Article 34 — Notification and information](/psd2/articles/34.md) **Chapter 2 — Common provisions** * [Article 35 — Access to payment systems](/psd2/articles/35.md) * [Article 35a — Conditions for requesting participation in designated payment systems](/psd2/articles/35a.md) * [Article 36 — Access to accounts maintained with a credit institution](/psd2/articles/36.md) * [Article 37 — Prohibition of persons other than payment service providers from providing payment services and duty of notification](/psd2/articles/37.md) #### [Title III — Transparency of conditions and information requirements for payment services](/psd2/titles/iii.md) **Chapter 1 — General rules** * [Article 38 — Scope](/psd2/articles/38.md) * [Article 39 — Other provisions in Union law](/psd2/articles/39.md) * [Article 40 — Charges for information](/psd2/articles/40.md) * [Article 41 — Burden of proof on information requirements](/psd2/articles/41.md) * [Article 42 — Derogation from information requirements for low-value payment instruments and electronic money](/psd2/articles/42.md) **Chapter 2 — Single payment transactions** * [Article 43 — Scope](/psd2/articles/43.md) * [Article 44 — Prior general information](/psd2/articles/44.md) * [Article 45 — Information and conditions](/psd2/articles/45.md) * [Article 46 — Information for the payer and payee after the initiation of a payment order](/psd2/articles/46.md) * [Article 47 — Information for payer’s account servicing payment service provider in the event of a payment initiation service](/psd2/articles/47.md) * [Article 48 — Information for the payer after receipt of the payment order](/psd2/articles/48.md) * [Article 49 — Information for the payee after execution](/psd2/articles/49.md) **Chapter 3 — Framework contracts** * [Article 50 — Scope](/psd2/articles/50.md) * [Article 51 — Prior general information](/psd2/articles/51.md) * [Article 52 — Information and conditions](/psd2/articles/52.md) * [Article 53 — Accessibility of information and conditions of the framework contract](/psd2/articles/53.md) * [Article 54 — Changes in conditions of the framework contract](/psd2/articles/54.md) * [Article 55 — Termination](/psd2/articles/55.md) * [Article 56 — Information before execution of individual payment transactions](/psd2/articles/56.md) * [Article 57 — Information for the payer on individual payment transactions](/psd2/articles/57.md) * [Article 58 — Information for the payee on individual payment transactions](/psd2/articles/58.md) **Chapter 4 — Common provisions** * [Article 59 — Currency and currency conversion](/psd2/articles/59.md) * [Article 60 — Information on additional charges or reductions](/psd2/articles/60.md) #### [Title IV — Rights and obligations in relation to the provision and use of payment services](/psd2/titles/iv.md) **Chapter 1 — Common provisions** * [Article 61 — Scope](/psd2/articles/61.md) * [Article 62 — Charges applicable](/psd2/articles/62.md) * [Article 63 — Derogation for low value payment instruments and electronic money](/psd2/articles/63.md) **Chapter 2 — Authorisation of payment transactions** * [Article 64 — Consent and withdrawal of consent](/psd2/articles/64.md) * [Article 65 — Confirmation on the availability of funds](/psd2/articles/65.md) * [Article 66 — Rules on access to payment account in the case of payment initiation services](/psd2/articles/66.md) * [Article 67 — Rules on access to and use of payment account information in the case of account information services](/psd2/articles/67.md) * [Article 68 — Limits of the use of the payment instrument and of the access to payment accounts by payment service providers](/psd2/articles/68.md) * [Article 69 — Obligations of the payment service user in relation to payment instruments and personalised security credentials](/psd2/articles/69.md) * [Article 70 — Obligations of the payment service provider in relation to payment instruments](/psd2/articles/70.md) * [Article 71 — Notification and rectification of unauthorised or incorrectly executed payment transactions](/psd2/articles/71.md) * [Article 72 — Evidence on authentication and execution of payment transactions](/psd2/articles/72.md) * [Article 73 — Payment service provider’s liability for unauthorised payment transactions](/psd2/articles/73.md) * [Article 74 — Payer’s liability for unauthorised payment transactions](/psd2/articles/74.md) * [Article 75 — Payment transactions where the transaction amount is not known in advance](/psd2/articles/75.md) * [Article 76 — Refunds for payment transactions initiated by or through a payee](/psd2/articles/76.md) * [Article 77 — Requests for refunds for payment transactions initiated by or through a payee](/psd2/articles/77.md) **Chapter 3 — Execution of payment transactions** **Section 1 — Payment orders and amounts transferred** * [Article 78 — Receipt of payment orders](/psd2/articles/78.md) * [Article 79 — Refusal of payment orders](/psd2/articles/79.md) * [Article 80 — Irrevocability of a payment order](/psd2/articles/80.md) * [Article 81 — Amounts transferred and amounts received](/psd2/articles/81.md) **Section 2 — Execution time and value date** * [Article 82 — Scope](/psd2/articles/82.md) * [Article 83 — Payment transactions to a payment account](/psd2/articles/83.md) * [Article 84 — Absence of payee’s payment account with the payment service provider](/psd2/articles/84.md) * [Article 85 — Cash placed on a payment account](/psd2/articles/85.md) * [Article 86 — National payment transactions](/psd2/articles/86.md) * [Article 87 — Value date and availability of funds](/psd2/articles/87.md) **Section 3 — Liability** * [Article 88 — Incorrect unique identifiers](/psd2/articles/88.md) * [Article 89 — Payment service providers’ liability for non-execution, defective or late execution of payment transactions](/psd2/articles/89.md) * [Article 90 — Liability in the case of payment initiation services for non-execution, defective or late execution of payment transactions](/psd2/articles/90.md) * [Article 91 — Additional financial compensation](/psd2/articles/91.md) * [Article 92 — Right of recourse](/psd2/articles/92.md) * [Article 93 — Abnormal and unforeseeable circumstances](/psd2/articles/93.md) **Chapter 4 — Data protection** * [Article 94 — Data protection](/psd2/articles/94.md) **Chapter 5 — Operational and security risks and authentication** * [Article 95 — Management of operational and security risks](/psd2/articles/95.md) * [Article 96 — Incident reporting](/psd2/articles/96.md) * [Article 97 — Authentication](/psd2/articles/97.md) * [Article 98 — Regulatory technical standards on authentication and communication](/psd2/articles/98.md) **Chapter 6 — ADR procedures for the settlement of disputes** **Section 1 — Complaint procedures** * [Article 99 — Complaints](/psd2/articles/99.md) * [Article 100 — Competent authorities](/psd2/articles/100.md) **Section 2 — ADR procedures and penalties** * [Article 101 — Dispute resolution](/psd2/articles/101.md) * [Article 102 — ADR procedures](/psd2/articles/102.md) * [Article 103 — Penalties](/psd2/articles/103.md) #### [Title V — Delegated acts and regulatory technical standards](/psd2/titles/v.md) * [Article 104 — Delegated acts](/psd2/articles/104.md) * [Article 105 — Exercise of the delegation](/psd2/articles/105.md) * [Article 106 — Obligation to inform consumers of their rights](/psd2/articles/106.md) #### [Title VI — Final provisions](/psd2/titles/vi.md) * [Article 107 — Full harmonisation](/psd2/articles/107.md) * [Article 108 — Review clause](/psd2/articles/108.md) * [Article 109 — Transitional provision](/psd2/articles/109.md) * [Article 110 — Amendments to Directive 2002/65/EC](/psd2/articles/110.md) * [Article 111 — Amendments to Directive 2009/110/EC](/psd2/articles/111.md) * [Article 112 — Amendments to Regulation (EU) No 1093/2010](/psd2/articles/112.md) * [Article 113 — Amendment to Directive 2013/36/EU](/psd2/articles/113.md) * [Article 114 — Repeal](/psd2/articles/114.md) * [Article 115 — Transposition](/psd2/articles/115.md) * [Article 116 — Entry into force](/psd2/articles/116.md) * [Article 117 — Addresses](/psd2/articles/117.md)