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PSD

The Payment Services Directive (PSD) will be implemented in Estonia on 22 May 2010. The PSD is a legal framework for payment services within the European Union, supporting the Single Euro Payments Area (SEPA).

This involves many changes to the terms and conditions of financial services. The table below provides a list of the most relevant changes arising from the directive and links to the new terms and conditions.

Effective from 22.05.2010
Service/Agreement	New terms and conditions	Most relevant changes
General Terms and Conditions	Link to PDF document	Notification of private customer of amendments: - term of advance notice is 2 months - notification must be personal (via the Internet bank or by e-mail, post or SMS) Prepayments of service fees are returned proportionally
Current Account Terms	Link to PDF document	Execution of payment orders is based on a unique identifier: the account number The term for filing claims has been extended to 13 months from the time of the transaction
Cross-Border Payment Orders	Link to PDF document	An OUR payment (full amount to the beneficiary) can be chosen only in the event that the execution of the payment order involves a currency exchange or the payment is made outside of EEA States. The term for filing claims has been extended to 13 months from the time of the transaction
Card Terms and Conditions	Private person Link to Debitcard Maestro Link to MC Standard Link to MC Topeltneto Link to MC Gold Link to MC MUST Link to Platinum Link to BalticMiles MC Link to Stockmann MC Legal person Link to Maestro Link to MC Business Link to MC Business Debit	The term for filing claims has been extended to 13 months from the time of the transaction Terms and conditions updated
Telephone and Netbank Agreement	Private person Link to PDF document Legal person Link to PDF document	Terms and conditions updated Terms and conditions updated
General Terms and Conditions of Standing Payment Order	Link to PDF document	Terms and conditions updated
General Terms and Conditions of Direct Debit Agreement	Link to PDF document	The term for filing claims has been extended to 13 months from the time of the transaction

The new terms and conditions apply from 22 May 2010.

If you do not consent to the terms and conditions, you are entitled to terminate your agreement by contacting any of our branches or service centres. If you accept the new terms and conditions, you do not need to notify the bank separately. You will be deemed to have consented to the new terms and conditions if you have not exercised the right to terminate your contract before entry into force of the new terms and conditions.