The Euro Banking Association (EBA) announced today the publication of Banks Fine-tuning Their PSD Preparations, which provides insight on a selection of key details that need to be addressed on the way to PSD Compliance. The new explanatory document serves as a follow-up publication to Banks Preparing to PSD, the Euro Banking Association's general overview guide on the Payment Services Directive.
"We created Banks Fine-tuning Their Preparations in order to supply the banks with greater detail on a number of specific questions, mainly related to the execution and receipt of payments," said Björn Flismark of SEB, Chair of the EBA Working Group on SEPA and PSD Compliance: "This new EBA document is aimed at drawing attention to several crucial issues covered in Title III and IV of the PSD, which banks should analyse closely before adapting their payment processes to PSD requirements."
Banks Fine-Tuning Their PSD Preparations provides, among others, new insights and additional details on the impact the PSD will have on the banks' execution timelines, charging practices and value dating. Other areas that the paper touches upon include cut-off times, the handling of cash deposits and obligations of payment services providers on non-business days.
The new PSD document has been delivered by the EBA's Working Group on SEPA and PSD Compliance, which is composed of payment practitioners from banks across Europe.
Read the full paper:» Download the document now 327.2 kb (PDF File)