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Hey PeterisP, what does the EU payment servies directive specify as max send time and for what cases, can you give more exact reference? Thanks.
by mikaelm 11y ago
Hey PeterisP, what does the EU payment servies directive specify as max send time and for what cases, can you give more exact reference? Thanks.
- PeterisP 11y agoThe key point for this is #69 of http://eur-lex.europa.eu/legal-content/EN/ALL/?uri=CELEX:32007L0064 http://eur-lex.europa.eu/legal-content/EN/ALL/?uri=CELEX:320... stating that they must be credited to the beneficiary "at the latest by the end of the next business day". +1 business day if made in paper, and cut-off times apply - if you make an order at late evening, the bank can treat it as received in the following business day. "for what cases" is a bit tricky. It must apply to all intra-EU deals in EUR and for the EU countries that don't use EUR, their national transactions. But for other combinations of countries and currencies (e.g. to non-EU places like Switzerland, local transfers in USD, etc), it varies, and there's some room for interpretation by member states.