§ 2-5. Who pays which fees in a payment

The Financial Contracts Act (Finansavtaleloven)·LOV-2020-12-18-146

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The text of the law (unofficial translation)

§ 2-5. Allocation of fees

(1) The fees in connection with a payment transaction (betalingstransaksjon) that falls within the scope of chapter 4 are allocated so that the payer (betaler) pays their payment service provider (betalingstjenesteyter) the fees it charges, and the payee (betalingsmottaker) pays their payment service provider the fees it charges.

(2) The first paragraph applies only if both the payer's and the payee's payment service provider, or the only payment service provider involved in the payment transaction, is established within the EEA (EØS).

Source: Lovdata — Finansavtaleloven (the Financial Contracts Act) § 2-5

What does this mean?

The section sets out who bears which fees in a payment transaction. The payer covers what their own payment service provider (the bank or similar) charges, and the payee covers what their own service provider (tjenesteyter) charges.

The rule applies only to transactions that fall under chapter 4, and only when both service providers, or the only one taking part, are based in the EEA (the European Economic Area). The section is linked to § 2-4, which deals with fees the payee charges for using certain means of payment, and § 2-6, which prohibits such fees for certain cards.

Related sections

All sections of the Financial Contracts Act →