# PSR Article 32 — Provision by credit institutions of payment accounts to payment institutions

Textual state: amended_substantial. 439 words changed; 1 paragraph added

- Current text: Council final compromise text (Council document 8221/26) — not yet law.
- Compared against: COM(2023) 367 final — superseded.
- Classification is mechanical; method: https://paymentslaw.eu/method/
- Editorial review state: not_assessed. Markers are curated and selective, not a complete assessment.

Word-level diff, proposal → compromise: `{+text+}` was inserted, `[-text-]` was deleted.

## New paragraph -1

{+-1. Credit institutions shall provide access to payment accounts to payment institutions, their agents and applicants for authorisation as a payment institution on an objective, non-discriminatory and proportionate basis. Such access shall be sufficiently extensive as to allow payment institutions to provide payment services in an unhindered and efficient manner.+}

## Paragraph 1

1. A credit institution [-shall only -]{+may +}refuse to open or [-shall only -]{+may +}close a payment account for a payment institution for its agents or [-distributors or -]for an applicant for [-a license -]{+an authorisation +}as a payment institution {+only +}in the following cases: (a) [-The credit institution has serious grounds to suspect defective money laundering or terrorism financing controls by -]the [-applicant -]{+opening +}or [-that illegal activities are being committed either by -]{+maintaining such a payment account would result in an infringement of Regulation (EU) 2024/1624 of +}the [-applicant or its customers; -]{+European Parliament and of the Council27; +}(b) there is or has been a {+material +}breach of contract committed by the [-applicant for an account; -]{+payment institution or its agents; +}(c) [-insufficient -]{+relevant +}information [-and -]{+or +}documents have {+not +}been received from the applicant for an account; [-(d) -]{+27 Regulation (EU) 2024/1624 of +}the [-applicant -]{+European Parliament and of the Council of 31 May 2024 on the prevention of the use of the financial system +}for [-an account -]{+the purposes of money laundering +}or [-its business model presents an excessive risk profile; (e) -]{+terrorist financing (Text with EEA relevance), OJ L, 2024/1624, 19.6.2024, p.1 (ea) +}the [-applicant for -]{+competent authority has refused to grant or has withdrawn +}an [-account would present -]{+authorisation as +}a [-disproportionately high compliance cost for the credit -]{+payment +}institution.

## Paragraph 2

2. Rights granted under paragraph 1 to agents [-or distributors -]shall be granted exclusively for the provision of payment services on behalf of the payment institution.

## Paragraph 3

3. [-A -]{+Without undue delay and at the latest one month after receiving a complete application, a +}credit institution shall notify to the payment institution or to its agents or [-distributors, or -]to the applicant for [-a license -]{+authorisation +}as a payment institution, {+as well as to the competent authority, +}any decision to refuse to open [-or to close -]a payment account to a payment institution or to its agents or [-distributors, or -]to an applicant for [-a license -]{+authorisation +}as a payment institution; it shall duly motivate any such decision. Such motivation must be specific to the risks posed by the activity or planned activity of that payment institution or of its [-agents or distributors, -]{+agents, +}as assessed by the credit institution, {+based upon grounds referred to in paragraph 1 +}and not be generic in nature. {+The credit institution shall notify to the payment institution or to its agents, as well as to the competent authority, of the decision to close the payment account at least 4 months before closing the payment account. Any decision to close a payment account shall be duly motivated, specific and based upon grounds referred to in paragraph 1, and shall consider the payment institution’s ability to comply with the safeguarding requirement as set out in Article 9 of Directive (EU) [PSD3]. By way of derogation from the first and second subparagraphs, credit institutions shall in the cases covered under paragraph 1, point (a): - only notify to the payment institution, its agents or the applicant for authorisation as a payment institution that opening or maintaining a payment account would result in an infringement of Regulation (EU) 2024/1624 and shall not disclose any detail on the nature of that infringement; - be entitled to close the payment account following a shorter notice period.+}

## New paragraph 3a

{+3a. The competent authority may publish aggregate data on payment account refusals and closures.+}

## Paragraph 4

4. A payment institution or its [-agents -]{+agents, +}or [-distributors, or -]an applicant for [-a license -]{+authorisation +}as a payment institution which is the subject of a negative decision by a credit institution on access or of a decision on closure from payment accounts services may appeal to a competent authority.

## Paragraph 5

5. The EBA shall develop draft regulatory technical standards specifying the harmonised format and information to be contained in the notification and motivation referred to in paragraph 3 of this Article. The EBA shall submit the draft regulatory technical standards referred to in the first subparagraph to the Commission by [ OP please insert the date= one year after the date of entry into force of this Regulation]. Power is delegated to the Commission to adopt the regulatory technical standards referred to in the first subparagraph in accordance with Articles 10 to 14 of Regulation (EU) No 1093/2010.