Although ESBG maintains its fundamental concern about ruling on interchange in a regulation, ESBG recognises that removing dispositions on interchange from the draft regulation text during the co-decision process at European Parliament and Council will probably not be possible.
ESBG believes that a compromise approach to interchange in the regulation could still give direct debits a chance for success in SEPA.
This Paper therefore – having first highlighted why the European Commission’s position on interchange is misguided – presents ESBG’s amendment proposal to Art. 6 of the draft regulation, and then explains in as plain language as possible this amendment proposal, and the positive effects it will have on the acceptance and use of direct debits in SEPA.
Full position paper
© European Savings Banks Group
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