Simple banking - a success story

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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)

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Swedish law to help the
consumers choose

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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

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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