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Effective from Jun 13 2023 - Jun 12 2023 To view other versions open the versions tab on the right
The payment service provider may reject the payment services order or suspend the payments account in the following cases:
A.
If the conditions for approving or disapproving a payment services order in the contract concluded between a user and a payment service provider are not met.
B.
If the payment service provider has reasons to suspect that the payment transaction associated with the payment services order is the result of a fraudulent act or creates any risks relating to Anti-Money Laundering and Counter-Terrorism Financing.
C.
If the payment transaction for which the payment services order was issued violates any of the obligations of the payment service provider imposed thereon under the relevant laws, regulations and decisions.
2.
When a payment service order is rejected, the payment service provider shall notify the payment service user in a timely manner of the rejection, explaining the reasons for the rejection and the mechanism for correcting the same, taking into account that the payment service - the subject of the rejection - shall be resumed as soon as the reasons for the rejection are resolved or ceased to exist.
3.
The payment service user shall not bear the transaction fees in the event of rejection, unless his contract concluded with the payment service provider provides for otherwise.