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Q:

What do I need to update in some of my templates before 13 January 2018?

A:

To comply with the Payment Services Regulations 2017, all payments sent within the European Economic Area (EEA) will need to have the payment charges shared between the sender and the beneficiary, no matter what currency you’re sending.

Shared Charges means you pay for the charges levied by us and the recipient pays any charges levied by the recipient's bank for receipt of the funds. This rule doesn’t apply to payments outside of the EEA.

You’ll need to check and update your payment templates for payments within the EEA. They’ll need to comply with the new regulations by 13 January 2018.

For these templates you’ll need to set charges to ‘Remitter for our charges’ and ‘Beneficiary for foreign bank (agents) charges’. For guidance on editing a template follow the steps below.

To edit an existing template:

  1. Select ‘Payments’ from the left-hand menu and then choose ‘Manage Templates’.

  2. Choose the template you need to edit by selecting the template reference.

  3. Select the ‘Edit Template’ option from the bottom of the page.

  4. You can then make the required changes. Select and edit ‘Remitter for our charges’ and ‘Beneficiary for foreign bank (agents) charges’.

If you have Smartcard authorisation enabled for changes to templates this will need to be completed before the template is updated.

If you’re importing payments or templates, you’ll need to use the code ‘SHA’ in the ‘Charges’ field.

The price of making payments within the EEA won’t change as a result of these updates.

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