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.

« Back

Interactive Single Rulebook

Path Payment Services Directive > TITLE IV > CHAPTER 3 > Section 1 > Article 80 (Copy link to article)
Title Article 80
Description Irrevocability of a payment order
Main content

1. Member States shall ensure that the payment service user shall not revoke a payment order once it has been received by the payer’s payment service provider, unless otherwise specified in this Article.

2. Where the payment transaction is initiated by a payment initiation service provider or by or through the payee, the payer shall not revoke the payment order after giving consent to the payment initiation service provider to initiate the payment transaction or after giving consent to execute the payment transaction to the payee.

3. However, in the case of a direct debit and without prejudice to refund rights the payer may revoke the payment order at the latest by the end of the business day preceding the day agreed for debiting the funds.

4. In the case referred to in Article 78(2) the payment service user may revoke a payment order at the latest by the end of the business day preceding the agreed day.

5. After the time limits laid down in paragraphs 1 to 4, the payment order may be revoked only if agreed between the payment service user and the relevant payment service providers. In the case referred to in paragraphs 2 and 3, the payee’s agreement shall also be required. If agreed in the framework contract, the relevant payment service provider may charge for revocation.