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New Rules for Payments Falling under PSD Regulation

News - May 31, 2010

We announce new rules for payment services. The new rules are based on The EU Payment Services Directive (PSD) applicable in the 27 EU Member States and European Economic Area (EEA) countries (Iceland, Liechtenstein and Norway).

From 1 June 2010, the Bank will execute EU/EEA-currency payments with charging options SHA and OUR only. For EU/EEA-currency payments within the EEA, it will no longer be possible to use the BEN instruction. Therefore, the Bank reserves the right to replace the BEN code (as originally indicated by customer) with the SHA. The change in the handling of the charge instruction will not affect EU/EEA-currency transfers to countries outside the EEA.

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