Transfer of Funds Regulation
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Table of Contents
Chapter I – Subject matter, scope and definitions
Chapter II – Obligations on payment service providers
Chapter III – Obligations on crypto-asset service providers
Chapter IV – Common measures applicable by payment service providers and crypto-asset service providers
Chapter V – Information, data protection and record-retention
Chapter VI – Sanctions and monitoring
Chapter VII – Implementing powers
Chapter VIII – Derogations
Chapter IX – Other provisions
Chapter X – Final provisions
Recitals (65)
Annexes
Chapter II – Obligations on payment service providers
Article 4
Information accompanying transfers of funds
1. The payment service provider of the payer shall ensure that transfers of funds are accompanied by the following information on the payer:
(a) the name of the payer;
(b) the payer’s payment account number;
(c) the payer’s address including the name of the country, official personal document number and customer identification number, or, alternatively, the payer’s date and place of birth; and
(d) subject to the existence of the necessary field in the relevant payments message format, and where provided by the payer to its payment service provider, the current LEI of the payer or, in its absence, any available equivalent official identifier.
2. The payment service provider of the payer shall ensure that transfers of funds are accompanied by the following information on the payee:
(a) the name of the payee;
(b) the payee’s payment account number; and
(c) subject to the existence of the necessary field in the relevant payments message format, and where provided by the payer to its payment service provider, the current LEI of the payee or, in its absence, any available equivalent official identifier.
3. By way of derogation from paragraph 1, point (b), and paragraph 2, point (b), in the case of a transfer not made to or from a payment account, the payment service provider of the payer shall ensure that the transfer of funds is accompanied by a unique transaction identifier rather than the payment account number.
4. Before transferring funds, the payment service provider of the payer shall verify the accuracy of the information referred to in paragraph 1 and, where applicable, in paragraph 3, on the basis of documents, data or information obtained from a reliable and independent source.
5. Verification as referred to in paragraph 4 of this Article shall be deemed to have taken place where one of the following applies:
(a) the identity of the payer has been verified in accordance with Article 13 of Anti-Money Laundering Directive (AMLD) and the information obtained pursuant to that verification has been retained in accordance with Article 40 of that Directive;
(b) Article 14(5) of Anti-Money Laundering Directive (AMLD) applies to the payer.
6. Without prejudice to the derogations provided for in Articles 5 and 6, the payment service provider of the payer shall not execute any transfer of funds before ensuring full compliance with this Article.