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Parliamentary question - E-000338/2022(ASW)Parliamentary question

Answer given by Ms McGuinness on behalf of the European Commission

Directive (EU) 2015/2366 on payment services[1] (PSD2) contains refund provisions, which are related to direct debits. If a SEPA direct debit mandate has been issued, the payer may request a refund from the payment service provider within a period of eight weeks from the date at which the funds were debited (Articles 76 and 77 PSD2).

As stated by the Honourable Member, the situation is different for credit transfers where, contrary to direct debits, the payer retains full control over the payment. Therefore, the PSD2 does not include provisions on chargeback procedures or suspended payments for credit transfers.

A chargeback procedure or suspended payments for credit transfers would contradict the principle of irrevocability of payment orders (Article 80 PSD2). This principle ensures the necessary legal certainty of a payment and that credit transfers effectively discharge payers’ obligations.

The Commission is however fully aware of the fact that fraud and transfer errors may cause significant consumer detriment. Article 108 PSD2 foresees that the Commission shall submit a report on the application and impact of the directive. This review is currently ongoing, in line with the Better Regulation principles. In the framework of this review and of its ongoing work on instant payments, the Commission will examine how to further combat payments fraud and mitigate its impact on consumers.

Last updated: 21 March 2022
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