(1) The payment service provider of the payee is obliged to make the payment amount available to the payee without undue delay after the amount has been credited to the account of the payment service provider, if the latter
1. is not obliged to perform a conversion to another currency, or
2. is obliged to perform only one currency conversion between the euro and a currency of a Contracting Party to the Agreement on the European Economic Area or between the currencies of two Contracting Parties to the Agreement on the European Economic Area.
Insofar as the payment amount is to be credited to a payment account of the payee, crediting, even if it takes place subsequently, is to be carried out such that the point in time used by the payment service provider as a basis for the calculation of the interest on credit or debit of an amount on a payment account (value date) is, at the latest, the business day on which the payment amount was credited to the account of the payee’s payment service provider. Sentence 1 also applies if the payee does not maintain a payment account.
(2) If a consumer places cash on a payment account with a payment service provider in the currency of the payment account concerned, this payment service provider ensures that the amount is made available and credited to the payee promptly after the time at which receipt has been taken. If the payment service user is not a consumer, the amount of money must be made available and credited to the payee at the latest on the business day following the day on which receipt has been taken.
(3) A debit to the payer’s payment account is to be effected such that the value date is at the earliest the time at which this payment account is debited with the payment amount. The payer’s payment account may not be debited before the payment order has been received by their payment service provider.
(4) Notwithstanding any other statutory or contractual rights, the payer’s payment service provider is entitled to block funds available on the payment account of the payer, in the event of a card-based payment transaction, if
1. the payment transaction was initiated by or via the payee, and
2. the payer also has consented to the exact amount of the funds to be blocked.
Notwithstanding any other statutory or contractual rights, the payer’s payment service provider immediately will release the funds blocked upon having either been informed of the exact payment amount or received the payment order.
(5) If a case governed by section 675d (6) sentence 1 no. 1 (a) is given,
1. then section 675t (1) sentence 3 may be deviated from as regards the components of a payment transaction that are effected within the European Economic Area, and
2. section 675t (2) is not to be applied to the components of a payment transaction that are effected within the European Economic Area.