Payment Services Regulations 2017: Main regulation governing payment services and direct debits in the UK. Implements EU Payment Services Directive (PSD2) and sets out requirements for payment consent and authorization procedures.
Financial Services and Markets Act 2000: Primary legislation providing the regulatory framework for financial services in the UK, including payment processing and banking services.
Data Protection Act 2018 and UK GDPR: Legislation controlling personal data processing, storage and security of payment details, and privacy requirements for financial transactions.
Electronic Communications Act 2000: Legislation governing electronic communications and digital signatures, particularly relevant if the agreement will be executed electronically.
Consumer Rights Act 2015: Key legislation protecting consumer rights, including requirements for fairness and transparency in consumer contracts and financial agreements.
Consumer Credit Act 1974: Legislation regulating credit arrangements and related financial agreements, which may be relevant if the deposits are connected to credit services.
Banking Act 2009: Legislation governing banking operations, payment systems, and settlement arrangements in the UK financial sector.
Anti-Money Laundering Regulations 2017: Regulations requiring identity verification and transaction monitoring to prevent money laundering in financial transactions and agreements.
