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Simple banking, Helena Englund Hjalmarsson
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Simple banking, Helena Englund Hjalmarsson

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Simple banking - a success story

Simple banking - a success story


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  • 1. 23/10/2010 1 Simple banking Helena Englund Hjalmarsson Lisbon | 13 October 2010 PSD - A directive with good intentions to increase market transparency to make cross- border payments as quick and effective as domestic payments to standardise rights and obligations, with strong emphasis on consumer protection to provide the necessary legal platform for the Single Euro Payments Area (SEPA)
  • 2. 23/10/2010 2 Swedish law to help the consumers choose
  • 3. 23/10/2010 3 The information should be provided in an accessible way and be clear and easy to understand. It must be in Swedish or in any other language that the parties agree on. At the request of service user information shall be provided at paper or another durable medium. What happened? Bad feeling Let’s try to make it simple
  • 4. 23/10/2010 4 Problem 1: vague statements The customer pays a monthly or annual price for the agreed payment services, products and services on a monthly or yearly basis in advance or in arrears. Problem 2: endless references SEB will execute the payment transaction within the periods specified below and in the appendix on Implementation times, provided that the Customer has provided the customer information required by rules 17.2.2, 17.3.2, 17.4.2, 17.5.2 and 17.6.2, has approved the payment order in accordance with 17.2.3, 17.3.3, 17.4.3, 17.5.3 and 17.6.3, and have coverage on their Debit Account in accordance with clause 16.6.
  • 5. 23/10/2010 5 Problem 3: 35 pages! I devided it in five 1. Contract form 2. The terms and conditions 3. A product specification 4. Information about SEB 5. A glossary
  • 6. 23/10/2010 6 Thank you for listening! See you in Stockholm ... Helena Englund Hjalmarsson