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Payment Services Directive (PSD II)
Article 76

Article 76 — Refunds for payment transactions initiated by or through a payee

  1. Member States shall ensure that a payer is entitled to a refund from the payment service provider of an authorised payment transaction which was initiated by or through a payee and which has already been executed, if both of the following conditions are met:
    1. the authorisation did not specify the exact amount of the payment transaction when the authorisation was made;
    2. the amount of the payment transaction exceeded the amount the payer could reasonably have expected taking into account the previous spending pattern, the conditions in the framework contract and relevant circumstances of the case.

    At the payment service provider’s request, the payer shall bear the burden of proving such conditions are met.

    The refund shall consist of the full amount of the executed payment transaction. The credit value date for the payer’s payment account shall be no later than the date the amount was debited.

    Without prejudice to paragraph 3 of this Article, Member States shall ensure that, in addition to the right referred to in the first subparagraph of this paragraph, for direct debits as referred to in Article 1 of Regulation (EU) No 260/2012, the payer has an unconditional right to a refund within the time limits laid down in Article 77 of this Directive.

  2. However, for the purposes of point (b) of the first subparagraph of paragraph 1, the payer shall not rely on currency exchange reasons if the reference exchange rate agreed with its payment service provider in accordance with point (d) of Article 45(1) and point (3)(b) of Article 52 was applied.
  3. It may be agreed in a framework contract between the payer and the payment service provider that the payer has no right to a refund where:
    1. the payer has given consent to execute the payment transaction directly to the payment service provider; and
    2. where applicable, information on the future payment transaction was provided or made available in an agreed manner to the payer for at least 4 weeks before the due date by the payment service provider or by the payee.
  4. For direct debits in currencies other than euro, Member States may require their payment service providers to offer more favourable refund rights in accordance with their direct debit schemes provided that they are more advantageous to the payer.