New European regulations regarding payment services

Currency information

In future, bank transfers in currencies of the European Economic Area (EEA)* will be credited to or debited from your account with the same interest date as the date upon which the transaction is made.

* All of the Member States of the European Union, plus Norway, Iceland and Liechtenstein.

Direct debits and reversal deadlines

In the case of conventional ongoing direct debit mandates, the deadline for reverse posting will be extended from 30 to 56 calendar days (= eight weeks). You will therefore have a longer period of time to reverse a direct debit that has already taken place. You can report an incorrect direct debit by calling our Advies en Service Center on 0900 - 00 24 (€ 0.10 per minute) up to 13 months after this has been debited.

Costs of payment services

Costs for your payment services will be charged on a monthly basis rather than a quarterly basis with effect from 1 January 2010. These costs will be debited from your account halfway through the following month. If you cancel a product, no further costs will be charged with effect from the 1st of the following month. The costs of transactions that have been made will be charged retrospectively, just as they are now.

Cost of international payments

 International payments effected (within the EEA*) in EEA currencies will only be made on the basis of shared costs. This means that the originator and the recipient of the payment will each be responsible for the charges brought by their own bank. If ABN AMRO receives a payment instruction that wrongly includes the instruction 'costs to be borne by us' or 'costs to be borne by the recipient', we shall implement the instruction on the basis of shared costs. All existing periodic standing orders shall be automatically adjusted for you.

* EEA = European Economic Area: all countries within the European Union, plus Norway, Iceland and Liechtenstein.