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<p>PayPal currently provides services in the UK through the Temporary Permissions
Regime, and is regulated by the Financial Conduct Authority.</p><p> </p><p> </p><p>
</p><p>The FCA’s handbook rules require payment service providers, which includes
banks, payment institutions and electronic money institutions, to send a final response
to complaints about rights and obligations arising under the Payment Services and
Electronic Money Regulations within 15 business days after the day on which it received
the complaint. In exceptional circumstances, such as where the respondent cannot send
a final response within this period for reasons beyond the control of the firm, a
response must be sent within 35 business days.</p><p> </p><p>If a consumer complains
to a relevant financial services firm and is unhappy with the response, they may be
able to bring their complaint to the Financial Ombudsman Service (FOS). The FOS provides
consumers with a free, independent service that enables the proportionate, prompt
and informal resolution of disputes with financial firms</p><p><strong> </strong></p><p>With
regards to next of kin procedures for banks, payment institutions, and electronic
money institutions, the FCA expects firms to have an effective process for dealing
with a deceased customer’s accounts from notification of death to the transfer of
funds to those who are entitled to receive them. This process is set out in the FCA’s
handbook rules.</p>
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