The full amount is credited to the beneficiary 's account

The credit value date for the payee 's payment account shall be the point in time at which that account is credited .

( b ) credit the amount of the payment order to the RTGS account of the receiving participant

It would seem obvious that funds are available once credited to the payee 's account .

Member States shall ensure that the payment service 1 .

Member States shall ensure that the payment service provider of the payee makes funds available to the payee as soon as those funds are credited to the payee 's payment account .

A transfer initiated by the payee ( the receiver ) via the payee 's bank after agreement between the payee and payer ( the sender ) .

Charges on the beneficiary side should only be allowed if beneficiaries are charged when receiving national payments .

Each payment is counted once on the sending participant 's side and not twice i.e. the debiting of the payer 's account and the crediting of the payee 's account are not counted separately .

Direct debits are counted on the payee 's side .

Direct debits are counted on the payee 's side .

Where appropriate with regard to the nature of the payment transaction concerned , for transactions initiated by the payer , the payer shall , upon request , communicate to his payment service provider the IBAN of the payee and the BIC of the payment service provider of the payee .

13.12 Article 65 ( 1 ) of the proposed directive concerning availability of funds states that Member States must ensure that payment service providers of the payee make funds available to the payee as soon as these funds are credited to the account of the payee .

The PSPs of the payer and of the payee only receive the information necessary to settle the transaction on their customer 's account , i.e. they receive no information on the underlying purpose of the transaction .

Article 3 Sums received by the EMI for the account of the European Community under borrowing arrangements entered into by the latter shall be transferred on the same value date to the account specified by the central bank of the country receiving the corresponding loan .

Funds received by the ECB , for the account of the European Community , under borrowing arrangements entered into by the latter , shall be transferred on the same value date to the account specified by the national central bank of the Member State receiving the corresponding loan .

Cheques are counted on the payee 's side when submitted for cheque clearing .

In February 2003 , the EPC adopted an Interbank Convention on Payments that ensures that the instructed amount of a transfer is credited to the beneficiary customer in full .

Card transactions are counted on the acquiring ( i.e. payee 's ) side .

It will ensure full reachability , guarantee that the full amount is credited to the recipient 's account , and place no limit on the value of the payment .

For cross border credit transfers , a customer shall , upon request , communicate to the institution carrying out the transfer the IBAN of the beneficiary and the BIC of the beneficiary 's institution .

In the latter case , the payment service provider of the payee may either hold the funds pending enquiry or make the funds available to the payee .

Under the Agreement10 , the postal payment services provider is liable until the postal payment order has been duly paid or the payee 's account credited . An exception to the liability of the payment services provider is provided for in case of delay in the execution of the services11 .

Article 4 The ECB shall record each borrowing and lending operation in its books on the following accounts in euro ( a ) an account on the liabilities side for recording the funds received for the account of the European Community and their transfer to the national central bank of the Member State receiving the corresponding loan

SEPA will allow customers to make non cash euro payments to any beneficiary located anywhere in the euro area using a single bank account and a single set of payment instruments .

This Regulation shall not apply to transfers of funds where both the payer and the payee are payment service providers acting on their own behalf .

of taxes , fines or other levies , and where the payer and payee are payment service providers acting on their own behalf .

Credit transfers are counted on the payee 's ( i.e. instruction recipient 's ) side .

a sound balance between the size of the beneficiary group and the funding received

For a payment transaction initiated by or through the payee , Member States shall require the payment service provider to ensure that , after the point of time of acceptance , the amount ordered is credited to the payee 's payment account at the latest at the end of the first working day following the day on which the point in time of acceptance falls , unless otherwise explicitly agreed between the payee and his payment service provider .

where the payment service provider of either the payer or the payee is not located in the Community .

Article 61 Payment transactions initiated by or through the payee 1 .

Cheques are counted on the payee 's side when submitted for cheque clearing .

The payments of principal and interest due under the loans will be trans ferred by the beneficiary Member State to an account with the ECB 14 TARGET2 business days prior to the corresponding due date .

SEPA enables customers to make cashless euro payments to anyone located anywhere in Europe , using a single payment account and a single set of payment instruments .

Forms of state aid that require an effort from the beneficiary are to be supported.

A check on the identity of the originator and the beneficiary , including their names and addresses , could only be carried out by their respective financial service providers .

Member States shall require the payer 's payment service provider to ensure that , after the point in time of acceptance , the amount ordered is credited to the payee 's payment account at the latest at the end of the first working day following the point in time of acceptance .

Local government comprises public administration whose competence extend only to a local part of the economic territory of the reporting country , excluding local agencies of social security funds ( ESA 95 , paragraphs 2.72 and 2.73 ) . Sub funds specify a separate class or designation of unit within a fund which invests in a separate pool or portfolio of investments .

A merchant should be able to choose to deal with any acquiring bank located in any country within the euro area .

The consent may be communicated directly to his payment service provider or indirectly via the payee .

If the payee is situated in a country which is a member of the FATF , the country in question must also apply SR VII .

Where , for the use of a given payment verification instrument , the payee requests a surcharge or offers a reduction , agreement shall be reached between the payee and the payer on those matters prior to the initiation of the payment transaction .

For the purposes of this Directive , a payment transaction shall consist in the act , initiated by the payer or by the payee , of depositing , withdrawing or transferring funds from a payer to a payee , irrespective of any underlying obligations between the payment service users .

Where appropriate with regard to the nature of the payment transaction concerned , for transactions initiated by the payee , the payee shall , upon request , communicate to his payment service provider the IBAN of the payer and the BIC of the payment service provider of the payer .