RegAlert2020-12-22 | NBB_2020_05Added · Updated
Application of European Regulation 2015/847 on payment transfers to the United Kingdom
Effective 1 January 2021, Belgian payment service providers must include full payer and beneficiary information for all transfers to the United Kingdom, as the UK is no longer an EU member state eligible for simplified requirements. This obligation mandates the inclusion of the payer's name, account number, and address or ID, along with the beneficiary's name and account number, replacing previous exemptions. Belgian institutions must update their systems by this date to ensure compliance, as UK authorities will refuse transfers lacking this complete information.
NBB published 1 document in the last 30 days — get each new one by email the day it lands.
NBB_2020_050 – 22 December 2020 Communication – Page 1/3 14 Berlaimontlaan – BE-1000 Brussels tel. +32 2 221 54 65 company number: 0203.201.340 RPR Brussels www.nbb.be Communication Brussels, 22 December 2020 Reference: NBB_2020_050 your correspondent:
Benoît Bienfait tel. +32 2 221 36 42 benoît.bienfait@nbb.be Application of European Regulation 2015/847 concerning payment transfers1 to transfers to the United Kingdom Scope Credit institutions under Belgian law, including branches in Belgium of institutions subject to the law of another country of the European Economic Area (EEA) or of a third country; Payment institutions and e-money institutions under Belgian law, including branches in Belgium of institutions subject to the law of another EEA country or of a third country, as well as payment institutions and e-money institutions licensed in another EEA country that must designate a central contact point established in Belgium; Central securities depositories licensed in Belgium. Summary/Objectives This communication draws attention to the consequences of the application of European Regulation 2015/847 concerning payment transfers to transfers to the United Kingdom. 1 Regulation (EU) 2015/847 of the European Parliament and of the Council of 20 May 2015 on information accompanying transfers of funds (hereinafter 'Regulation 2015/847')
Read the rest free, and get an email when NBB publishes again
Lineage: In force
Source: National Bank of Belgium — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
More like this from NBB
NBB published 1 document in the last 30 days. We email you each new one the day it's published.