EU Payment Services Directive

Selwynha

I have read that the EU payment services directive is now law. This means that UK banks can no longer charge for using your debit card within the EU for ATM withdrawals, purchases and across border direct debits.
Has anyone else heard about this or is it a secret?

Thrugelmir

What are across border direct debits?

Selwynha

It's EU terminology - I think it maybe SEPA system?
I would like to set up a direct debit on my UK bank to pay my Spanish electricity supplier - if that makes sense?

gt94sss2

Selwynha wrote: »

I have read that the EU payment services directive is now law. This means that UK banks can no longer charge for using your debit card within the EU for ATM withdrawals, purchases and across border direct debits.
Has anyone else heard about this or is it a secret?

You may find that this doesn't apply to UK debit cards used in the EU as we don't use the Euro..

Selwynha

Taken from the EU advice site:
When you make a cross-border payment in euros and Swedish Krona within the EU, your bank can't charge you more than it would for an equivalent national transaction. Even banks based in EU countries outside the euro area must apply this rule.
https://europa.eu/youreurope/citizens/consumers/financial-products-and-services/payments-transfers-cheques/index_en.htm

agrinnall

Contact your electricity supplier in Spain and require them to set up the DD, then come back and report to us if it worked.

colsten

The EU Payment Services Directive is only relevant to cross-border services your bank offers. It doesn't say your bank MUST offer a given service. Direct Debits, from all UK banks, are only available within the UK.