§ 4-51. Single payment services

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

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The text of the law (unofficial translation)

§ 4-51. Special provisions on single payment services

(1) If a payment order (betalingsoppdrag) for a single payment transaction (betalingstransaksjon) is given using a payment instrument (betalingsinstrument) covered by an agreement with another payment service provider (betalingstjenesteyter), the payment service provider that carries out the transaction is not obliged towards the customer (kunde) to provide or make available information that has already been given or will be given to the customer under the agreement with the other payment service provider.
(2) The rules in § 3-9 first to third subsections on entering into the agreement, § 3-12 first subsection on requirements for the content of the agreement and § 3-14 on amendment of the agreement by passive consent do not apply to an agreement on a single payment transaction that is not covered by an account agreement (kontoavtale) or another framework agreement on financial services (finansielle tjenester).
Source: Lovdata — Finansavtaleloven (the Financial Contracts Act) § 4-51

What does this mean?

The first subsection exempts the bank that carries out a single payment from giving the customer information that the customer has already received, or will receive, under the agreement with another payment service provider. This applies when the payment order is given with a payment instrument that belongs to the other agreement. The second subsection exempts single payments from three rules in Chapter 3: entering into the agreement in § 3-9, the content of the agreement in § 3-12 and passive consent in § 3-14, when the payment does not fall under an account agreement or another framework agreement. The section is one of the special rules at the end of Chapter 4.

Related sections
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