§ 2-2. When is a payment considered made? Time and place of payment

This section says when a payment is considered made, and when a payment deadline has been met. The first paragraph covers three situations. For a transfer to an account, the payment is considered made when the payee's bank has had the amount credited. If both accounts are in the same bank, what counts is when the amount has reached the payee's account. For cash settlement, what matters is that the money has been made available to the payee through a payment service provider at the payee's location, and that the payee has been informed of it.

The second paragraph deals with when a payment deadline is interrupted, that is, when the debtor (skyldner) has done what is required. Unless otherwise agreed, for a consumer who pays, this happens when the payment service provider has received the payment order. The time of receipt follows § 4-5 second paragraph: on a business day (virkedag), the order is considered received when it is delivered or registered, and otherwise on the first business day after. For cheques or other means of payment, what matters is that the payee has both received and accepted them. Third paragraph: if the order is not to be executed immediately, the interruption is counted from the agreed payment date, in line with § 4-5 fourth paragraph.

The fourth paragraph makes an exception. The payment deadline is not interrupted if the transaction is not carried out because of circumstances on the payer's own side. The payment service provider must then give notice under § 4-6, which requires notice immediately, with reasons and information on how errors can be corrected. Example: a payer enters an order, but it is stopped by a circumstance on the payer's own side. The payment deadline then keeps running, and the payer must be notified.

The section builds on § 2-1, which says how a payment is normally settled, and is followed by § 2-3 on currency.