SEB meets the requirements of the new European ...

The Payment Services Directive (PSD) aiming to make payments on the
European market easier and more cost efficient for the clients, shall
be met by all banks and institutions in the EU by November 1, 2009,
and after adoption also within other EEA countries. The Swedish PSD
legislation is expected to be ready during the spring of 2010, but
SEB will already from 1 November follow the main rules of the
directive concerning the incoming European payments in these
countries' currencies to both private and corporate clients in
Sweden.


"For clients, the PSD will entail two major changes in terms of
payments. Transferred amounts shall reach the receiver intact, no
deductions may be made from the payment amounts, as previously
occurred. Instead any fees must be reported separately. In addition,
the amount will be available to the recipient the same day as the
receiving bank is credited," says David Teare, global Head of CRM.
"SEB fulfils these requirements also in Sweden from 1 November, as
this is something that our customers, other countries' banks and
their customers expect, " Teare concludes.

PSD is an important building block in creating a single European
payment market - a topic that SEB has long been at the forefront of.
SEB has since the beginning of 2008 managed projects to adapt to the
PSD timely when legislation enters into force in the twelve EU and
EES countries where it has operations and that are subject to the
change. SEB is also active in many national and international banking
forums, including the European Payments Council (EPC), to ensure
necessary PSD-adaptations and common market rules for payments as
well as infrastructure.

PSD Facts
PSD is one leg on the road to a harmonized Europe and aim to create
equal legal conditions for all payment services throughout Europe for
both individuals and businesses. PSD also creates the necessary legal
platform for the Single Euro Payments Area, SEPA. Together, the PSD
and SEPA, will reduce national divergences and harmonize payment
instruments, technical standards and information on payments.

Link to more information on PSD
www.sebgroup.com/psd

SEB is a North European financial group serving some 400,000
corporate customers and institutions and five million private
individuals. SEB offers universal banking services in Sweden, Germany
and the Baltic countries - Estonia, Latvia and Lithuania. It also has
local presence in the other Nordic countries, Poland, Ukraine and
Russia and a global presence through its international network in
major financial centers. On 31 March 2009, the Group's total assets
amounted to SEK 2,460bn (~EUR 225bn) while its assets under
management totalled SEK 1,187bn (~EUR 108bn).The Group has about
21,000 employees. Read more about SEB at www.sebgroup.com.
__________________________________________________
For further information, please contact:
Henrik Bergman, Global Product Manager, tel. [phone]
Press contact Elisabeth Lennhede, tel. [phone]


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