Acceptgiro to remain available after 1 February 2014

National Forum on the SEPA Migration (NFS)

• At its meeting on 16 May 2012, the National Forum on the SEPA Migration (NFS) decided to adapt the Acceptgiro to European standards so that it could continue to be used for payments after 1 February 2014. Agreements were also reached in other areas.
• At its meeting on the same date, the National Forum on the Payment System (MOB) asked the Minister of Security and Justice to increase capacity for combating fraud and crime in payments.

Acceptgiro: adaptation to IBAN and phase-out by 2019 at the latest

Use of the paper Acceptgiro has declined sharply in recent years, partly because an increasing number of Acceptgiro forms are processed electronically. Digital alternatives are also available. Nevertheless, the Acceptgiro still meets a clear societal need. It will therefore be adapted to the new European SEPA standards, as will credit transfers and direct debits. This will allow the Acceptgiro to be used with the longer IBAN account number. The NFS expects the paper Acceptgiro to remain necessary until 1 January 2019 at the latest. Acceptable alternatives for users will be developed before then. The NFS will periodically monitor the Acceptgiro’s use, costs and societal need.

IBAN without BIC for most domestic payments by 1 January 2013

Under the SEPA Regulation, the International Bank Account Number (IBAN) will be introduced from 1 February 2014 for European payments, including payments within the Netherlands. In interbank payments, the BIC – the Business Identifier Code used to identify the bank – is also required. At present, customers making cross-border payments must provide both the IBAN and BIC to their bank. European rules stipulate that, in future, businesses and consumers making a euro payment within the SEPA area will only need to provide an IBAN. The bank will then add the BIC itself to process the payment correctly. The NFS has now agreed when only an IBAN will be required for domestic payments, known as ‘IBAN-only’. In principle, banks will be able to facilitate this for more than 90% of domestic euro payments by 1 January 2013.

Direct debits: consumer protection and e-mandates under development

The new European standards for direct debits will make it possible to collect payments across borders and issue mandates to foreign companies. To protect consumers, mandates can specify a maximum amount and set the frequency of collections. Consumers will also be able to create a list of organisations whose direct debits they do not accept – a ‘blacklist’ – or do accept – a ‘whitelist’. Introducing the whitelist is particularly complex and creates a risk that direct debits will be rejected unintentionally. The NFS has appointed a working group to draw up an implementation plan for the whitelist. This will also take account of businesses’ need for an electronic rather than paper mandate throughout the payment chain. Before 1 July 2012, the working group will report to the NFS on the design, planning and implementation date of both the whitelist and the electronic mandate. Banks, businesses and consumers are represented in the working group.

National Forum on the Payment System (MOB)

Payment fraud

Fraud in electronic payments has risen sharply in recent years, including debit card skimming and fraud involving online banking and online payments. In a letter to the Minister of Security and Justice, the MOB therefore asks for greater capacity in the public-private approach to fraud and crime in payments.

Blocking the debit card magnetic stripe outside Europe

Now that EMV chip payments are possible almost everywhere in Europe, several banks have announced that, as a further measure against skimming, they will disable the magnetic stripe outside Europe by default. This makes it much more difficult for criminals to profit from skimming. Consumers can still enable their debit card for use outside Europe when necessary. The MOB welcomes this development and calls on banks to consider introducing it more widely. This does not alter the need for retailers to continue investing in the security of their payment terminals.

Debit card payment outages

People in the Netherlands made more debit card payments in 2011. It is therefore increasingly important to prevent disruptions to debit card payments. Banks and retailers are discussing an emergency procedure that would allow debit card payments to continue during outages. The MOB welcomes this development and calls on the parties to introduce such a solution as soon as possible.

The National Forum on the Payment System (MOB) promotes the societal efficiency of payments in the Netherlands. Its members represent both providers and users of payment services, and it is chaired by DNB. The MOB’s 2011 annual report was submitted to the Minister of Finance for information and published on DNB’s website. The factsheet ‘Cash payments counted 2011’ was also published.

The National Forum on the SEPA Migration (NFS) was established by the MOB and coordinates the Dutch migration to IBAN and payment instruments based on European standards. These standards must be introduced by 1 February 2014 at the latest. Under the chairmanship of DNB, payment service providers and users exchange information, discuss the preferred approach and agree on the migration of the Dutch payment system.

The NFS also publishes the results of its twice-yearly SEPA Monitor, including the fifth SEPA Monitor of May 2012.