At Ancoria Bank we always want to keep you informed on recent developments.
One of them is the E.U. Payment Services Directive 2, which aims to make all European payments faster and simpler for consumers while offering increased efficiency, competition and security in the payment market.
This directive is applied across Europe and has recently been transposed into national law in Cyprus through “The Provision and Use of Payment Services and Access to Payment Systems Law of 2018” (referred as “the Law”).
Particularly, it opens up the EU payment market to payment service companies, Third Party Providers (TPPs), provided they have obtained the licence required by law, in order to provide certain types of payment-related services, allowing them to access information on payment accounts. Also, it establishes stringent requirements for the security of electronic payments and for the protection of consumer financial data and at the same time it enhances consumer rights in many areas, including the reduction of liability for unauthorised payments. Moreover, this law, prohibits additional charges on payments with consumer credit or debit cards, both in stores and on the internet.
For the above purpose, among other tasks, Ancoria Bank is currently updating its General Terms and Conditions. The amended General Terms and Conditions, shall be communicated to you by email and/or hard copy as soon as they have been finalised and will also be available on our website and at our Banking Centres upon request.
For details on the upcoming changes please click on the link to choose between English or Greek (Ελληνικά).
Should you need more information or clarifications, please call us on 8000 0050 or +357 22849000 (Monday – Thursday, 08:15 – 17:00 and Friday, 08:15 – 14:00).
