Tag Archives: PAD

EBA finalises PAD terminology and disclosure Annex

EBA finalised its technical standards on standard terminology and disclosure under the PAD and submitted it to the Commission in early May.¬† It has now published¬†the Annex which contains the 8 terms in all official languages. The terms, in English, are: maintaining the account providing a debit card providing a credit card arranged overdraft sending […]

EBA publishes PAD standards

EBA has published its final draft technical standards under the Payment Accounts Directive on standard terminology for services linked to a payment account, and standardised formats and common symbol of the Fee Information Document and Statement of Fees. There are 8 standardised terms with consumer-friendly definitions, and payment service providers will have to use the […]

PAD takes effect

Treasury has confirmed how the UK has met its obligations to implement the Payment Accounts Directive into UK law. It has done this mainly through the Payment Accounts Regulations 2016, which took effect on 18 September. It has designated 9 banks under the Regulations to be obliged to provide basic accounts, and appointed FCA and […]