Payment Services DirectivePayment Services Directive

The new Payment Services Act leads to various changes in, for example, bank statements and the speed with which payments are transferred.  Behind the law is the EU’s Payment Services Directive (PSD) aimed at increasing the efficiency of the payments market and increasing the competition therein. 

These pages contain additional information on the changes brought by the Payments Services Act for both our consumer and corporate customers. In general we can say that the changes arising from the new Payments Services Act are quite few, for the majority of the provisions described in them have been normal in the Finnish banking business for a long time.

The most obvious change brought about by the new law with respect to our consumer customers is that, before signing a contract, the customer will receive more advance information about the Payments Services Act than earlier. With respect to our corporate customers, the content of payment services will change in line with the regulations, but the agreement process will stay mostly as it was.

The new law will mean, however, that amendments will be made to all of the bank group’s customer agreements and their terms and conditions. The amendments will improve, generally speaking, the position of customers. The renewed agreement terms and conditions will also affect existing customer and agreement relationships.The banks will operate together with the Federation of Finnish Financial Services, the consumer authorities and the Ministry of Finance in matters concerning amendments to the legislation. In Finland The Financial Supervisory Authority oversees compliance with the Payments Services Act.
Danske Bank A/S,
Helsinki branch

Hiililaiturinkuja 2
+358 10 546 0000

More contact information
Corporate customers
Essential content of the PSD
Questions and answers
General terms and conditions
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