Regulatory Alerts2018-04-06
Consumer Payment Account Services Regulation (VZKDV)
The Financial Market Authority (FMA) issued this regulation to transpose Article 3(5) of Directive 2014/92/EU into Austrian national law. It defines the most representative services linked to a payment account, including general account maintenance, cardless payments, card services, and overdraft facilities. These services are detailed in the regulation's annex and apply to accounts as defined in the Consumer Payment Account Act.
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