OREANDA-NEWS. November 06, 2009. With the view of implementing principles established in the Directive on Payment Services adopted by European Parliament and the Council of Europe, “Swedbank” will not provide anymore funds transferring services if charges of funds payer’s bank, funds receiver’s bank and agents’ fees are applied to the funds receiver (BEN) – that is when all service charges are paid by funds receiver, reported the press-centre of Swedbank.

European Parliament and the Council of Europe on the 13th of November 2007 have adopted The Directive 2007/64/EC on Payment Services in the Internal Market for the purpose of creating modern and consecutive legal structure of providing payment services in the territory of EU and to harmonize national legislation which regulates on the European level providing of payment services.

One of the areas regulated by the Directive is applying of charges by funds payer’s bank (payment services provider), funds receiver’s bank (payment services provider) and fees required by agents (commissions) for processing of payment operation and sharing of charges between funds payer and payee.