Clarity and transparency

Payment Services Directive

Knowing how important it is to receive complete and transparent information on the cost of the execution of cross-border transfers, HSBC Bank Polska S.A. would like to inform you of proposed changes in this respect.

What is the impact of the payment services directive on payments executed by HSBC Bank Polska S.A.?

In the light of approaching changes related to the implementation of the payment services directive (PSD) in the Polish legal system, HSBC Bank Polska S.A. being a part of the international group has updated processes and operating systems in accordance with the directive requirements.

As a result, transfers executed between european Union (EU) countries and within the european Economic Area (EEA) and in currencies of those countries will be executed with the “SHA” charges option, i.e. the remitter will be charged with only costs imposed by HSBC Bank Polska S.A. (which will be debited to the account). The existing “OUR” charges option (all costs paid by the remitter) or “BEN” option (all costs are borne by the beneficiary) will cease to be effective.

In addition, HSBC and intermediary banks will not be allowed to deduct charges payable to them from the transaction amount. Consequently, the payee’s service provider will receive the entire transfer amount.

The above changes shall enter into force from 1 November 2009.

Additional information

Should you have any questions or doubts, do not hesitate to contact us on:

+48 22 354 05 60 for Corporate Clients
+48 22 323 91 54 for Individual Clients
+48 22 323 99 51 for Business Direct Clients

The territorial and currency-related scope of the Payment Services Directive