SEPA : Legal framework Nationale Bank van België Banque nationale de Belgique Jan Vermeulen Axelle...
-
Upload
celestine-jan -
Category
Documents
-
view
110 -
download
1
Transcript of SEPA : Legal framework Nationale Bank van België Banque nationale de Belgique Jan Vermeulen Axelle...
SEPA : Legal frameworkNationale Bank van BelgiëBanque nationale de Belgique
Jan VermeulenAxelle Waterkeyn
SEPA presentation "Legal" - 20122 / 26
"The internal market cannot function properly without cheap, efficient and secure payment
services".
● efficiency
● security
● consumer protection
● competition (fair access)
European Commission: objective
SEPA presentation "Legal" - 20123 / 26
European Commission: legal framework
► Payment Services Directive 2007/64/EC (PSD)● Wet betreffende de betalingsdiensten/Loi relative aux services de
paiement Transparency of conditions and information requirements for payment
services Rights and obligations to the provision and use of payment services
● Wet betreffende het statuut van de betalingsinstellingen /Loi relative au statut des établissements de paiement
Establishment of "Payment Institutions"
► Regulation 924/2009 on cross border payments● Equal charges for national and cross border payments
► Regulation 260/2012 establishing technical and business requirements for credit transfers and direct debits in euros
● End date national payment instruments: 01-02-2014
SEPA presentation "Legal" - 20124 / 26
► Directive (PSD) transposed into 2 laws (2009)
+ Execution time, refund, full amount to be transferred
European Commission: role
Payment institutionsTransparancy and informationRights and obligations
SEPA presentation "Legal" - 20125 / 26
► Regulation 924/2009 on cross-border payments in €
for● all electronically processed payments in euro
● mandatory use of IBAN (SCT and SDD)
Bringing charges of cross-border payments to the same level as national payments
European Commission: role
SEPA presentation "Legal" - 20126 / 26
► End date regulation
European Commission: role
"Credit transfers shall be carried out in accordance with the requirements ... by 1 February 2014""Direct debits shall be carried out in accordance with the requirements ... by 1 February 2014"
SEPA presentation "Legal" - 20127 / 26
► EU Forum of national SEPA Coordination Committees
► European Competition Authorities: in progress
European Commission: role
multilateral interchange feecard paymentsacces to bank accounts
SEPA presentation "Legal" - 20128 / 26
Loi relative aux services de paiement du 10/12/2009 publiée au moniteur le 15/01/2010
+ Execution time, refund, full amount to be transferred
Payment institutionsTransparancy and informationRights and obligations
SEPA presentation "Legal" - 20129 / 26
Loi relative aux services de paiement art 9 à 14
► Transparence des conditions des services de paiement (art 9 => 14)
● opérations de paiement isolées
● contrat-cadre
description des principales caractéristiques l'identifiant unique délai d'exécution maximal frais
SEPA presentation "Legal" - 201210 / 26
Loi relative aux services de paiementart 38 & 39 : remboursement (1)
► Remboursements d'opérations de paiement initiées par ou via le bénéficiaire
● S'applique aux domiciliations "nationales" DOM80 et SDD
● Le prestataire de services de paiement du payeur doit rembourser
si l'autorisation n'indiquait pas le montant exact et le montant dépassait le montant auquel le payeur pouvait
raisonnablement s'attendre
● Contrat-cadre: le payeur et son prestataire de services de paiement peuvent convenir que le payeur a droit au remboursement même si ces conditions ne sont pas remplies
SEPA presentation "Legal" - 201211 / 26
Loi relative aux services de paiementart 38 & 39 : remboursement (2)
► Remboursements d'opérations de paiement initiées par ou via le bénéficiaire
● Contrat-cadre: le payeur n'a pas droit à un remboursement s'il a donné son consentement directement à son prestataire de
services les informations relatives ont été fournies au payeur 4 semaines
avant l'échéance
● 8 semaines
● le remboursement est effectué dans un délai de 10 jours
SEPA presentation "Legal" - 201212 / 26
Loi relative aux services de paiementart 38 & 39 - Droit de refund en pratique en Belgique
► Le droit de refund inconditionnel s’applique durant 8 semaines:
● aux domiciliations "nationales" DOM80 à partir du 1/4/2010
● aux domiciliations européennes SDD – core depuis le 1/11/2009
► Au-delà des 8 semaines, Il y a droit de refund durant 13 mois
● S’il n’y a pas de mandat valide.
● La preuve est à charge : Du créancier pour SDD & DOM70 De la banque du débiteur pour DOM80
► Le droit de refund inconditionnel ne s’applique pas : ● aux SDD – B2B
● aux SDD – fixed amount (en cours de développement)
SEPA presentation "Legal" - 201213 / 26
Loi relative aux services de paiementart 29 : autorisation
► Autorisation des opérations de paiement
● Le mandat de domiciliation doit répondre aux conditions suivantes:
Un consentement exprès du payeur La procuration doit se référer expressément au contrat sous-jacent (lequel
précise la nature, l’échéance…)
● La domiciliation ne peut se réaliser valablement que si le payeur a été précédemment informé du contrat sous-jacent
SEPA presentation "Legal" - 201214 / 26
Loi relative aux services de paiementart 45 & 78 délai d'exécution et date valeur
► Belgique● Virements:
D si même banque D+1 si banques différentes papier: +1 jour
● Domiciliations: D+3 jusqu'au 01/01/2012 D+1 après le 01/01/2012
► Transfrontaliers (virements & domiciliations) ● Jusque 01/01/2012: D+3
● D+1 à partir de 01/01/2012
SEPA presentation "Legal" - 201215 / 26
Regulation of the European Parliament and of the Council
► NL= http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=OJ:L:2012:094:0022:0037:NL:PDF► FR= http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=OJ:L:2012:094:0022:0037:FR:PDF
"Credit transfers shall be carried out in accordance with the requirements ... by 1 February 2014""Direct debits shall be carried out in accordance with the requirements ... by 1 February 2014"
SEPA presentation "Legal" - 201216 / 26
Regulation of the European Parliament and of the Council
► Regulation establishing technical and business requirements for credit transfers and direct debits in euros
► Règlement établissant des exigences techniques et commerciales pour les virements et les prélèvements en euros
► Verordening tot vaststelling van technische en bedrijfsmatige vereisten voor overmakingen en automatische afschrijvingen in euro
► Proposal from the Commission -16 December 2010► Adoption on 14/03/2012 ► Published in Official Journal on 30/03/2012
SEPA presentation "Legal" - 201217 / 26
Regulation, article 1
► Article 1: Scope● credit transfers and direct debit in € within the EU
both legs in the EU
● out of scope: cards mobile payments money remittance e-money
SEPA presentation "Legal" - 201218 / 26
Regulation, article 6
► Article 6: End dates● "Credit transfers shall be carried out in accordance with the
requirements ... by 1 February 2014"
● "Direct debits shall be carried out in accordance with the requirements ... by 1 February 2014"
► Technical requirements in Annex
SEPA presentation "Legal" - 201219 / 26
Regulation, article 5
SEPA presentation "Legal" - 201220 / 26
Regulation, article 5 ► Article 5: Requirements for credit transfer and direct debit
transactions► more or less in line with European Payment Council (EPC)
Rulebooks● Credit transfers
IBAN only (BIC not mandatory) ! from 01/02/2014 for national payments
» but possibility to postpone per country
from 01/02/2016 for cross border payments
● Direct debits " ... payers shall have the possibility to:
instruct their PSP to limit a direct debit collection to a certain amount or periodicity, or both;
request their PSP, where there is no refund right according to the PSD, to verify each direct debit transaction and to check whether the amount and periodicity of the submitted direct debit transaction is equal to the amount agtreed in the mandate;
instruct their PSP to block any direct debits to their account or to block any direct debits coming from one or more specified payees or to autorise direct debits only coming from one or more specified payees."
but not applicable for B2B!
SEPA presentation "Legal" - 201221 / 26
Regulation, article 5, continued
● "The PSP shall ensure that a Payment Service User (PSU) that is not a customer or a micro-enterprise, and initiates or receives individual credit transfers or direct debits which are bundled together for transmission, uses message formats ISO20022."
Option to postpone until 01/02/2016.
SEPA presentation "Legal" - 201222 / 26
Regulation, articles 3 & 9
SEPA presentation "Legal" - 201223 / 26
Regulation, article 8
► Article 8: Interchange fees for direct debit transactions
● "the aim of the European Commission is to create neutral conditions for competition between PSP's"
● " ... no multilateral interchange fees per direct debit transaction or other agreed remuneration with an equivalent object or effect shall apply to direct debit transactions."
Exception for "R-transactions", if they are cost-based
● end date cross-borders transactions: 01-02-2017
● end date national transactions : 01-11-2012
SEPA presentation "Legal" - 201224 / 26
Regulation, article 16 ► Transitional provisions
● Credit transfer niche products (less than 10%, 01/02/2016)
● Direct Debit niche products (less than 10%, 01/02/2016)
● Allow PSPs to provide conversion services for national payment transactions to consumers tot 01/02/2016
● Non-euro area countries
SEPA presentation "Legal" - 201225 / 26
Regulation, overview per item
SEPA End Date CT and DD 1 Feb 2014Non-euro area MS 31 Oct 2016
DD MIF End Date Cross-border 1 Nov 2012Domestic 1 Feb 2017
Phase-out of BIC Domestic 1 Feb 2014 (could be deferred by MS until 1 Feb 2016)
Cross-border 1 Feb 2016Conversion facilities
ISO 20022 XML
National account numbers
Payment service users
1 Feb 2016 (if opted in by MS)
1 Feb 2016 (if opted in by MS)
Phase-out niche products CT and DD 1 Feb 2016Interoperability Euro area MS 1 Feb 2014
Non-euro area MS 31 Oct 2016Payment card at POS
resulting in a direct debit e.g. the German ELV 1 Feb 2016
source: ECB
SEPA presentation "Legal" - 201226 / 26
1.
1 February 2014 Migration end-date for SEPA credit transfers and SEPA direct debits in Euro Member States
31 October 2016 Migration end-date for SEPA credit transfers and SEPA direct debits in non-Euro Member States – Note one year after joining euro, if earlier
1 February 2014 End-date for grandfathering existing direct debit mandates
1 November 2012 Prohibition of per-transaction MIF for cross-border direct debits
1 February 2017 Prohibition of per-transaction MIF for national direct debits
Immediately effective Reachability for SEPA credit transfers and SEPA direct debits in Euro Member States
31 October 2016 Reachability for SEPA credit transfers and SEPA direct debits in non-Euro Member States – Note one year after joining the Euro, if earlier
1 February 2014 Interoperability in Euro Member States
31 October 2016 Interoperability in non-Euro Member States – Note one year after joining the Euro, if earlier
1 February 2014 Elimination of the obligation for users to provide the BIC for national payments, where necessary – Note Member States have the option to defer to 1 February 2016
1 February 2016 Elimination of the obligation for users to provide the BIC for cross-border payments
1 February 2016 Expiry of transitional arrangements for so called 'niche products'
1 February 2016 Expiry of transitional arrangements for one-off direct debits used at merchants (e.g. in Germany 'Elektronisches Lastschriftverfahren' – ELV)
1 February 2016 Expiry of Member State option to allow banks to provide conversion services
Regulation, overview of the dates