Article 4 — Information accompanying transfers of funds

Financial crimeLevel 1RegulationToFRApplies from 30 Dec 2024VerifiedOfficial source

1.The payment service provider of the payer shall ensure that transfers of funds are accompanied by the following information on the payer:

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4(1)(a)

(a)the name of the payer;

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4(1)(b)

(b)the payer’s payment account number;

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4(1)(c)

(c)the payer’s address including the name of the country, official personal document number and customer identification number, or, alternatively, the payer’s date and place of birth; and

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4(1)(d)

(d)subject to the existence of the necessary field in the relevant payments message format, and where provided by the payer to its payment service provider, the current LEI of the payer or, in its absence, any available equivalent official identifier.

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4(2)

2.The payment service provider of the payer shall ensure that transfers of funds are accompanied by the following information on the payee:

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4(2)(a)

(a)the name of the payee;

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4(2)(b)

(b)the payee’s payment account number; and

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4(2)(c)

(c)subject to the existence of the necessary field in the relevant payments message format, and where provided by the payer to its payment service provider, the current LEI of the payee or, in its absence, any available equivalent official identifier.

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4(3)

3.By way of derogation from paragraph 1, point (b), and paragraph 2, point (b), in the case of a transfer not made to or from a payment account, the payment service provider of the payer shall ensure that the transfer of funds is accompanied by a unique transaction identifier rather than the payment account number.

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4(4)

4.Before transferring funds, the payment service provider of the payer shall verify the accuracy of the information referred to in paragraph 1 and, where applicable, in paragraph 3, on the basis of documents, data or information obtained from a reliable and independent source.

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4(5)

5.Verification as referred to in paragraph 4 of this Article shall be deemed to have taken place where one of the following applies:

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4(5)(a)

(a)the identity of the payer has been verified in accordance with Article 13 of Directive (EU) 2015/849 and the information obtained pursuant to that verification has been retained in accordance with Article 40 of that Directive;

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4(5)(b)

(b)Article 14(5) of Directive (EU) 2015/849 applies to the payer.

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4(6)

6.Without prejudice to the derogations provided for in Articles 5 and 6, the payment service provider of the payer shall not execute any transfer of funds before ensuring full compliance with this Article.

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