Amendment of the General Terms and Conditions for Payment Services as of 11 October 2011

Soon you will be able to make payments via Direct Banking (internet banking). For this new service and other improvements to our service, we have amended the General Terms and Conditions for Payment Services (“Terms”). This page will provide you information on the amendments. Information on the new services will be provided to you separately. The amended Terms will be applicable as of 11 October 2011. With the amended Terms the current one will become invalid.

The Terms are amended as follows (reference is made to the amended Terms):

• For additional services, the definition ‘Direct Banking’ (Article 1.1h) is amended and the definition ‘Payment Instrument’ is introduced (Article 1.1k). For the purpose of clarity, the definition ‘Authorized Representative’ (Article 1.1c) now refers to Article 5.2 on this matter;
• An account may only be used in the conduct of a business or profession. For clarity sake, especially if the account is held by a private person, this is added to Article 3.1c;
• With Direct Banking, a payment is initiated with a payment instrument. For this, Article 8 and 20.2 are introduced and Article 9, 10 and 11 amended;
• As a new service, a limit to the amount to be transferred from Accounts at Credit Europe can be set. For this Article 12.2 and 20.8 have been added;
• The execution time of payment orders in euro or in currencies of EEA member states is shortened with two working day (Article 14.1);
• Direct Banking may be used as one of the way to communicate. For this Article 17.2 is amended and 17.5 added; and
• Last, for clarity Article 21.4 has been amended.

Below you can download the amended Terms. Please inform your account manager if you would like to receive the amended terms by email or post.

  NEW - General Terms and Conditions for Payment Services for Corporate Customers

  OLD - General Terms and Conditions for Payment Services for Corporate Customers

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