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Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.

payment instrument

      1. (1) (in BCOBS) any personalised device or personalised set of procedures agreed between the banking customer and the firm used by the banking customer to initiate an instruction or request by the banking customer to the firm to make a payment.159
      1. (2) (except in BCOBS) (in accordance with regulation 2(1) of the Payment Services Regulations) any:159
        1. (a) personalised device; or159
        1. (b) personalised set of procedures agreed between the payment service user and the payment service provider,159
        used by the payment service user in order to initiate a payment order.