The final draft of the Payment Services (Amendment) Regulations 2024 confirms that PSPs can delay the execution of certain payment orders where the PSP establishes reasonable grounds to suspect the order has been made subsequent to fraud or dishonesty perpetrated by a third party. The Regulations allow a delay of no more than four business days from receipt of the payment order, and require the PSP to establish the “reasonable grounds” by the end of the business day following receipt of the order.
Government finalises payment delay regulations
