SEB meets the requirements of the new European Payment Services
Directive for incoming payments to S
SEB meets the requirements of the new European Payment Services Directive for incoming payments to Sweden as of November first
(Thomson Reuters ONE) - The Payment Services Directive (PSD) aiming to make payments on theEuropean market easier and more cost efficient for the clients, shallbe met by all banks and institutions in the EU by November 1, 2009,and after adoption also within other EEA countries. The Swedish PSDlegislation is expected to be ready during the spring of 2010, butSEB will already from 1 November follow the main rules of thedirective concerning the incoming European payments in thesecountries' currencies to both private and corporate clients inSweden."For clients, the PSD will entail two major changes in terms ofpayments. Transferred amounts shall reach the receiver intact, nodeductions may be made from the payment amounts, as previouslyoccurred. Instead any fees must be reported separately. In addition,the amount will be available to the recipient the same day as thereceiving bank is credited," says David Teare, global Head of CRM."SEB fulfils these requirements also in Sweden from 1 November, asthis is something that our customers, other countries' banks andtheir customers expect, " Teare concludes.PSD is an important building block in creating a single Europeanpayment market - a topic that SEB has long been at the forefront of.SEB has since the beginning of 2008 managed projects to adapt to thePSD timely when legislation enters into force in the twelve EU andEES countries where it has operations and that are subject to thechange. SEB is also active in many national and international bankingforums, including the European Payments Council (EPC), to ensurenecessary PSD-adaptations and common market rules for payments aswell as infrastructure.PSD FactsPSD is one leg on the road to a harmonized Europe and aim to createequal legal conditions for all payment services throughout Europe forboth individuals and businesses. PSD also creates the necessary legalplatform for the Single Euro Payments Area, SEPA. Together, the PSDand SEPA, will reduce national divergences and harmonize paymentinstruments, technical standards and information on payments.Link to more information on PSDwww.sebgroup.com/psdSEB is a North European financial group serving some 400,000corporate customers and institutions and five million privateindividuals. SEB offers universal banking services in Sweden, Germanyand the Baltic countries - Estonia, Latvia and Lithuania. It also haslocal presence in the other Nordic countries, Poland, Ukraine andRussia and a global presence through its international network inmajor financial centers. On 31 March 2009, the Group's total assetsamounted to SEK 2,460bn (~EUR 225bn) while its assets undermanagement totalled SEK 1,187bn (~EUR 108bn).The Group has about21,000 employees. Read more about SEB at www.sebgroup.com.__________________________________________________For further information, please contact:Henrik Bergman, Global Product Manager, tel. +46 70 525 96 63Press contact Elisabeth Lennhede, tel. +46 70 763 99 16http://hugin.info/1208/R/1328764/313369.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
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Datum: 15.07.2009 - 08:01 Uhr
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