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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)

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Swedish law to help the consumers choose

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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

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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.

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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

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Thank you for listening!

See you in Stockholm ...

Helena Englund Hjalmarsson