# PSR Article 122 — Amendments to Regulation (EU) 2021/1230

Textual state: amended_substantial. 189 words changed; 1 paragraph added; 3 paragraphs removed

- Compared text: Council position at first reading (Council document 8543/26) — not yet law.
- Compared against: Council document 8221/26 — superseded.
- Classification is mechanical; method: https://paymentslaw.eu/method/
- Editorial review state: not_assessed. Editor's notes are selective, not a complete assessment.

Word-level diff for each step, earlier → later edition: `{+text+}` was inserted, `[-text-]` was deleted.

## Step 1 · Commission proposal (2023) to Council compromise text (April 2026)

Article — → 110a. Textual state: inserted. New in the compromise text.

- Editorial review state: not_assessed.

### New unnumbered text

{+Regulation (EU) No 2021/1230 is amended as follows:+}

### New paragraph 1

{+1. In Article 4, the first paragraph is replaced by the following: ‘1. With regard to the information requirements on currency conversion charges and the applicable exchange rate, as set out in Articles 13(1), 20(c), and 5(2) of Regulation (EU) [PSR] of the European Parliament and of the Council, payment service providers and parties providing currency conversion services at an automated teller machine (ATM) or at the point of sale, as referred to in Article 5(2) of that Regulation, shall express the total currency conversion charges as a monetary amount in the currency of the payer’s account and as a percentage mark-up over an aggregated mid-market exchange rate as referred to in Article 5(4) of that Regulation. That mark-up and any other applicable charges shall be disclosed to the payer prior to the initiation of the payment transaction.’;+}

### New paragraph 2

{+2. In Article 5, the first paragraph is replaced by the following: ‘1. When a currency conversion service is offered by the payer’s payment service provider in relation to a credit transfer, as defined in point 28 of Article 3 of Regulation (EU) [PSR] of the European Parliament and of the Council, that is initiated online directly, using the website or the mobile banking application of the payment service provider, the payment service provider, with regard to Articles 13(1) and 20(c) of that Regulation, shall inform the payer prior to the initiation of the payment transaction, in a clear, neutral and comprehensible manner, of the estimated charges for currency conversion services and any other charges applicable to the credit transfer. The estimated charges for currency conversion in relation to credit transfers shall be expressed as a monetary amount in the currency of the payer’s account and as a percentage mark-up over an aggregated mid-market exchange rate as referred to in Article 5(4) of that Regulation.’+}

## Step 2 · Council compromise text (April 2026) to Council position at first reading (October 2026)

Article 110a → 122. Textual state: amended_substantial. 189 words changed; 1 paragraph added; 3 paragraphs removed

- Editorial review state: not_assessed.
- October sets April's introductory sentence and amendments 1 and 2 out as one unnumbered text, with the amendments as its points (1) and (2).

### Unnumbered text (removed)

[-Regulation (EU) No 2021/1230 is amended as follows:-]

### Paragraph 1 (removed)

[-1. In Article 4, the first paragraph is replaced by the following: ‘1. With regard to the information requirements on currency conversion charges and the applicable exchange rate, as set out in Articles 13(1), 20(c), and 5(2) of Regulation (EU) [PSR] of the European Parliament and of the Council30, payment service providers and parties providing currency conversion services at an automated teller machine (ATM) or at the point of sale, as referred to in Article 5(2) of that Regulation, shall express the total currency conversion charges as a monetary amount in the currency of the payer’s account and as a percentage mark-up over an aggregated mid-market exchange rate as referred to in Article 5(4) of that Regulation. That mark-up and any other applicable charges shall be disclosed to the payer prior to the initiation of the payment transaction.’; 30 OP: Please insert in the text the number of the Regulation contained in document 2023/0210 (COD) (Proposal for a regulation of the European Parliament and of the Council on payment services in the internal market and amending Regulation (EU) No 1093/2010 and Regulation (EU) No 2021/1230 - COM/2023/367 final) and insert the number, date, title and OJ reference of that Regulation in the footnote.-]

### Paragraph 2 (removed)

[-2. In Article 5, the first paragraph is replaced by the following: ‘1. When a currency conversion service is offered by the payer’s payment service provider in relation to a credit transfer, as defined in point 28 of Article 3 of Regulation (EU) [PSR] of the European Parliament and of the Council31, that is initiated online directly, using the website or the mobile banking application of the payment service provider, the payment service provider, with regard to Articles 13(1) and 20(c) of that Regulation, shall inform the payer prior to the initiation of the payment transaction, in a clear, neutral and comprehensible manner, of the estimated charges for currency conversion services and any other charges applicable to the credit transfer. The estimated charges for currency conversion in relation to credit transfers shall be expressed as a monetary amount in the currency of the payer’s account and as a percentage mark-up over an aggregated mid-market exchange rate as referred to in Article 5(4) of that Regulation.’ 31 OP: Please insert in the text the number of the Regulation contained in document 2023/0210 (COD) (Proposal for a regulation of the European Parliament and of the Council on payment services in the internal market and amending Regulation (EU) No 1093/2010 and Regulation (EU) No 2021/1230 - COM/2023/367 final) and insert the number, date, title and OJ reference of that Regulation in the footnote.-]

### New unnumbered text

{+Regulation (EU) 2021/1230 is amended as follows: (1) Article 4(1) is replaced by the following: ‘1. With regard to the information requirements on currency conversion charges and the applicable exchange rate, as set out in Article 5(2), Article 13(1), and Article 20(3) of Regulation (EU) 2026/… of the European Parliament and of the Council*+, payment service providers and parties providing currency conversion services at an automated teller machine (ATM) or at the point of sale, as referred to in Article 5(2) of that Regulation, shall express the total currency conversion charges as a monetary amount in the currency of the payer’s account and as a percentage mark-up over an aggregated mid-market exchange rate as referred to in Article 5(3) of that Regulation. That mark-up and any other applicable charges shall be disclosed to the payer prior to the initiation of the payment transaction. ________________ * Regulation (EU) 2026/… of the European Parliament and of the Council of … on payment services in the internal market and amending Regulations (EU) No 1093/2010, (EU) No 260/2012, (EU) 2017/2394 and (EU) 2021/1230 (OJ L …, ELI: …)++.’; (2) Article 5(1) is replaced by the following: ‘1. When a currency conversion service is offered by the payer’s payment service provider in relation to a credit transfer, as defined in Article 3, point (53), of Regulation (EU) 2026/…+, that is initiated online directly, using the website or the mobile banking application of the payment service provider, the payment service provider, with regard to Article 13(1) and Article 20(3) of that Regulation, shall inform the payer prior to the initiation of the payment transaction, in a clear, neutral and comprehensible manner, of the estimated charges for currency conversion services and any other charges applicable to the credit transfer. The estimated charges for currency conversion in relation to credit transfers shall be expressed as a monetary amount in the currency of the payer’s account and as a percentage mark-up over an aggregated mid-market exchange rate as referred to in Article 5(3) of that Regulation.’.+}