Section 3: Conditions for executing a payment transaction

The time of receipt is the time at which the payment order is received by the payer’s payment service provider. If the payment service user who ordered the payment transaction and his payment service provider agree that the execution of the payment order will begin on a specific day or at the end of a specific period or on the day on which the payer has made the funds available…

I. – Where the payment service provider refuses to execute a payment order or initiate a payment transaction, it shall notify the payment service user, or make the notification available to the payment service user in accordance with the agreed procedures, as soon as possible and, in any event, within a period which may not exceed that provided for in Article L. 133-13, and shall, if possible and unless prohibited…

The payer’s payment service provider(s) and the payee’s payment service provider(s) and their intermediaries involved in the execution of a payment transaction transfer the total amount of the payment transaction and may not deduct charges from the amount transferred. However, the payee may agree with his payment service provider that the latter deducts the charges due to him from the amount transferred in advance. In this case, the total amount…