French Monetary and Financial Code
In forceAn account-holding payment service provider may refuse a payment service provider providing an account information or payment initiation service access to a payment account for objectively justified and documented reasons relating to unauthorised or fraudulent access to the payment account by that payment service provider, including unauthorised or fraudulent initiation of a payment transaction.
In the cases referred to in the first subparagraph, the payment service provider managing the account shall inform the payment service user, in the manner agreed between the parties, of the refusal of access to the payment account and of the reasons for that refusal. That information shall, if possible, be given to the payment service user before access is refused and at the latest immediately after such refusal, unless that information is not communicable for objectively justified security reasons or is prohibited under another relevant provision of Union or national law.
The payment service provider managing the account shall allow access to the payment account if the reasons referred to in the first paragraph no longer exist.
Where the payment service provider managing the account refuses a payment service provider providing an account information service or a payment initiation service access to a payment account in accordance with the first subparagraph, the payment service provider managing the account shall immediately notify the Banque de France of the incident. The notification shall contain the relevant information about the incident and the reasons justifying the measures taken. The Banque de France shall assess the incident, take appropriate measures if necessary and, if it considers it necessary, inform the Autorité de contrôle prudentiel et de résolution pursuant to Article L. 631-1.
