Articles 59 and 60 PSDII.

The Chapter analyses Articles 59 and 60 of the PSD II. Article 59 on “Currency and currency conversion” lays down provisions concerning the choice of currency and currency conversion costs in the relationship between the payee and the payer. The Chapter focuses first of all on the interplay between the European rules on payments and domestic rules on monetary obligations and secondly, on the interaction between the freedom of choice of the parties and the potential limitations that may be imposed onto this contractual autonomy. It then also examines the issues arising where the currency indicated by the parties is a non-official currency. Finally, it analyses Article 60 on “Information on additional charges or reductions” tied to the use of a given payment instrument by taking into account the wider regulatory framework on charges both in the PSD II and in other related EU legislative provisions.