Interactive Single Rulebook

The Interactive Single Rulebook is an on-line tool that provides a comprehensive compendium of  the level 1 text for the Capital Requirements Regulation (CRR) and the Capital Requirements Directive (CRD IV); Bank Recovery and Resolution Directive (BRRD); the Deposit Guarantee Schemes Directive (DGSD); and the Payments Services Directive (PSD2)  the corresponding technical standards developed by the European Banking Authority (EBA) and adopted by the European Commission (RTS and ITS), as well as the EBA Guidelines and related Q&As.
The purpose of the Single Rulebook is to ensure the consistent application of the regulatory banking framework across the EU.
This Interactive Single Rulebook is meant purely as a documentation tool and the EBA does not assume any liability for its contents. For the authentic version of EU legislation users should refer to the Official Journal of the European Union.
Please click on the relevant legislative text to see technical standards, guidelines and Q&As relating to each Article.

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Interactive Single Rulebook

Path Payment Services Directive > TITLE IV > CHAPTER 2 > Article 70 (Copy link to article)
Title Article 70
Description Obligations of the payment service provider in relation to payment instruments
Main content

1. The payment service provider issuing a payment instrument shall:

(a) make sure that the personalised security credentials are not accessible to parties other than the payment service user that is entitled to use the payment instrument, without prejudice to the obligations on the payment service user set out in Article 69;

(b) refrain from sending an unsolicited payment instrument, except where a payment instrument already given to the payment service user is to be replaced;

(c) ensure that appropriate means are available at all times to enable the payment service user to make a notification pursuant to point (b) of Article 69(1) or to request unblocking of the payment instrument pursuant to Article 68(4); on request, the payment service provider shall provide the payment service user with the means to prove, for 18 months after notification, that the payment service user made such a notification;

(d) provide the payment service user with an option to make a notification pursuant to point (b) of Article 69(1) free of charge and to charge, if at all, only replacement costs directly attributed to the payment instrument;

(e) prevent all use of the payment instrument once notification pursuant to point (b) of Article 69(1) has been made.

2. The payment service provider shall bear the risk of sending a payment instrument or any personalised security credentials relating to it to the payment service user.