EBA Guidelines on Procedures for Complaints of Infringements of PSD2
EBA published the final guidelines on complaint procedures to be followed by competent authorities to ensure and monitor effective compliance by payment service providers with the revised Payment Services Directive (PSD2). These guidelines are part of the EBA's work to support the core objectives of PSD2 of strengthening the integrated payments market across the EU. The guidelines apply from January 13, 2018.
The guidelines specify the requirements for the channels to be used by complainants to file their complaints, the information competent authorities should request from complainants when complaints are submitted to them, and the information competent authorities should include in their responses to complaints. In addition, the guidelines require competent authorities to make an aggregate analysis of the complaints received, to document their internal complaints procedures, and to make information related to their procedures for complaints of alleged infringements of PSD2 publicly available.
The guidelines apply only to complaints addressed to competent authorities about alleged infringements of PSD2 and do not cover other issues that payment service users or other interested parties may complain about. They also do not cover complaints submitted as part of alternative dispute resolution procedures for the settlement of disputes between payment service users and payment service providers. Taking into consideration the responses received from external stakeholders during the public consultation, EBA has introduced some minor changes to the Guidelines, for example, to clarify that the types of complainants that are considered to be “other interested parties” for the purpose of these guidelines, includes payment service providers that are affected by the situation(s) that gave rise to the complaint.
Related Links: Guidelines on Complaint Procedures Under PSD2 (PDF)
Effective Date: January 13, 2018
Keywords: Europe, Banking, PMI, PSD2, Complaint Procedures, Payment Service Providers, EBA
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