Retail Payment Services Conditions
This translation is furnished for the client’s convenience only. The original Dutch text, which will be sent upon request,
will be binding and shall prevail in case of any variance between the Dutch text and the English translation.
Contents
Definitions
1. Subject and applicable conditions
7. Indirect loss and consequential loss
1.1.What is subject to these conditions?
1.2.Are there any other applicable conditions?
8. Withdrawals and deposits
2. Current account
2.1.How can you and the bank use your current
account?
2.2. Are you allowed to have a debit balance on your
current account?
2.3. What happens to your payment orders if your
account is not in credit?
3. Bankcard and other client identifiers
4. Payment orders
4.1.How long does it take to execute a payment order?
4.2. What date counts as the order date?
4.3. Is an order always executed?
4.4. What happens if the payee does not receive the
payment?
4.5. Are payments subject to limits?
4.6. What happens in the case of non-euro payment
transactions?
4.7. What exchange rates and interest rates apply to
the current account?
8.1.What is a withdrawal and how can you make a
withdrawal?
8.2. What is a deposit and how can you make a deposit?
9. Transfers
9.1.What is a transfer and what types of transfers are
there?
9.2. What rules apply to a transfer instruction?
10. Indirect debit
10.1. How does a direct debit work?
10.2.Can you have a direct debit reversed?
10.3.What can you do about an unauthorised direct debit?
10.4.Can your current account be blocked to direct debits?
11. Payment at a point of sale terminal
11.1. How do you pay at a POS terminal?
11.2. How does the payment work if it is not approved in
advance?
12.Payment services information sheet/forwarding
information
5. Statements
13. Change/termination
5.1. How often do you receive an account statement?
5.2. Is it possible to receive paper account statements
more often?
13.1.Can the bank change its conditions?
13.2.What rules apply to the cancellation of payment
services?
6. Security and risk allocation
6.1.How can you prevent misuse of your current
account and bank card?
6.2. How can you limit the loss as a result of misuse?
6.3. Who bears the risk of misuse?
Page 1 of 7  Retail Payment Services Conditions
January 2015
Definitions
Term
Definition
Bank
ABN AMRO BANK N.V. or – if this is obvious from the text – another payment service provider that is involved in the
execution of a payment transaction.
Bank card
a debit card issued by the bank that an accountholder uses together with a personal identification number (PIN) to
withdraw cash or to pay for goods and services. A credit card is not a bank card in this sense.
Payee
the person to whom payment is made.
Current account
an account that you have with the bank and which is used for payment transactions.
Payment transaction
a cash deposit or withdrawal, credit transfer, direct debit, payment at a point of sale (POS) terminal.
Communication channel
the definition is given in the Client Relationship Conditions. Examples of communication channels are the postal system,
telephone and internet.
Payment Services
Information Sheet
the Retail Payment Services Information Sheet on paper or online.
Internet Banking
a secure economic environment in which you and the bank can exchange information or transmit messages. You can,
for example, send a payment order to the bank via Internet Banking or receive an account statement from the bank.
Client identifier
the definition is given in the Client Relationship Conditions. An example of a client identifier is the PIN bank card.
Mobile Banking
the use of a bank-provided app on a smartphone, tablet or similar device to perform banking tasks.
Mobile Payment
payment at a point of sale (POS) terminal using a smartphone.
Debit balance
amount owed to the bank when an account is overdrawn.
Order date
the date on which the bank receives an order to execute a payment transaction or the date that applies as the order
date according to article 4.2.
Statements
the definition is given in the Client Relationship Conditions. An example is an account statement.
PIN
personal identification number used in conjunction with the bank card.
SEPA
the Single Euro Payments Area. It includes the countries of the European Union, Norway, Iceland, Liechtenstein and
Switzerland. For more information see abnamro.nl or consult the bank.
Payment Services
Conditions
these Retail Payment Services Conditions.
Working day
any day on which the bank of the payer or the bank of the payee is open for the transaction of a payment. The Payment
Services Information Sheet gives more information.
Page 2 of 7  Retail Payment Services Conditions
January 2015
Retail Payment Services Conditions
1. Subject and applicable conditions
2.3.What happens to your payment orders if your
account is not in credit?
1.1.What is subject to these conditions?
The bank may refuse to execute orders or may reverse
them if execution would result or has resulted in an
unauthorised debit balance.
The Payment Services Conditions apply to the following
banking services:
▶▶ your current account
▶▶ your bank card and other client identifiers
▶▶ your payments.
These are referred to as payment services in these
conditions.
1.2. Are there any other applicable conditions?
Other additional conditions are:
▶▶ the General Conditions of ABN AMRO Bank N.V.
These comprise the General Banking Conditions and
the Client Relationship Conditions.
▶▶ the Retail Payment Services Information Sheet. This
contains fees and charges, extra rule and information
on the subjects mentioned in these Payment Services
Conditions.
2. Current account
2.1.How can you and the bank use your current account?
You can use your current account to make and receive
payments. The bank will credit or debit these payments
to your current account. The bank will also do this with
any other sums of money that you deposit with the bank
or that you owe to the bank.
You may use your current account only in a personal
capacity and not professionally or for your business.
The bank has other accounts for professional and
business use with different conditions. If you do not
use the account in a personal capacity, you cannot
invoke these Payment Services Conditions.
3. Bankcard and other client identifiers
A bank card with a PIN or signature is a client identifier.
In some cases a bank card can be used as a client
identifier without a PIN or signature. You should use
your bank card in the way referred to in these conditions.
Your bank card and PIN can also be used to place an
electronic signature or to give a statement of approval.
Internet Banking requires the use of the bank card with
PIN together with the e.dentifier supplied by the bank.
For ease of use, your account number and bank card
number can also be used in combination with your
chosen five-digit identification code as the client identifier
for Internet Banking. The client identifier for Mobile Banking
is your chosen five-digit identification code. When you
register the device (smartphone or tablet) you use for
Mobile Banking, that device will become a component
of the client identifier for Mobile Banking1.
In the case of Mobile Payment at POS terminals using
a bank-provided app on your smartphone, the app in
combination with your chosen four-digit number (mPIN)
is the client identifier.
Client identifiers are governed by the rules laid down in
the Client Relationship Conditions.
4. Payment orders
4.1.What date counts as the order date?
2.2.Are you allowed to have a debit balance on your
current account?
You must ensure that your current account is always in
credit. You may not allow your account to go into debit
unless you have explicitly agreed this with the bank
beforehand. If you nevertheless acquire an unauthorised
debit balance, you must clear it immediately.
1
A maximum execution period applies to payments initiated
within the European Union and in the countries of Iceland,
Norway and Liechtenstein. This is provided the payment
is in euros or the currency of one of these countries.
In accordance with this maximum execution period,
the payee’s bank receives the payment from your
current account no later than the working day
immediately following the order date. For written
orders, the maximum period is two working days.
This
function will become available in the course of 2015.
Page 3 of 7  Retail Payment Services Conditions
January 2015
When the bank needs to convert the payment into
another currency, the periods are extended by two
working days.
that the payee’s bank has indeed received the payment.
If the bank cannot provide evidence of this, it will reverse
the debit.
The bank executes all other payments within a
reasonable period of time.
4.5.Are payments subject to limits?
4.2.What date counts as the order date?
The order date is the date on which the bank receives
the order for an outgoing payment transaction.
The following rules apply:
▶▶ If the day on which the bank receives the order is
not a working day, the order date will shift to the next
working day.
▶▶ You must send written orders to the address mentioned
in the Payment Services Information Sheet. The day
on which the bank receives your written orders at this
address counts as the date of receipt.
▶▶ The bank needs time to process your order, so it may
specify cut-off times after which same-day processing
will no longer be possible. These times may differ according
to the type of payment transaction, communication
channel or other factors. If the bank receives your order
after these cut-off times, the next working day will become
the order date. When the bank specifies such times, it
indicates them in the Payment Services Information Sheet.
▶▶ If you give an order to make a payment at a later date,
that date will count as the order date. If that date is
not a working day, the order date will sift to the next
working day. In the case of standing orders (see article
9 of these Payment Services Conditions) a different
rule may apply. When the next working day falls in a
different month, the order date for a standing order is
brought forward to the preceding working day.
▶▶ If you do not have enough money in your account for
the order to be executed, the bank may check whether
execution is possible on the next working day. The bank
is not obliged to do this and will do so no more than
five times. The date on which execution is possible
then becomes the order date.
4.3.Is an order always executed?
The bank is entitled to refuse or defer the execution of
an order at any time if there is reason to do so according
to the conditions that apply. If the bank does not execute
an order, it will notify you accordingly.
4.4.What happens if the payee does not receive the
payment?
It may happen that the payee does not receive the payment
even though the amount has been debited from your
account. In that case, the bank must provide evidence
Page 4 of 7  Retail Payment Services Conditions
The bank may set limits on your payments. For example,
the size of the amount, the number of transactions, or
the countries (to) where you can make a payment. These
limits may differ according to the type of transaction,
communication channel or other factors. The Payment
Services Information Sheet gives more details.
4.6.What happens in the case of non-euro payment
transactions?
Payments from or to your current account in a currency
other than the euro are converted by the bank to the
euro. In the case of outgoing payments, conversion is
on the order date. In the case of incoming payments,
conversion is on the day on which the payment is credited
to the account. Conversion is at the exchange rate set by
the bank which applies at the time of conversion.
4.7.What exchange rates and interest rates apply to the
current account?
The Payment Services Information Sheet tells you how
you can request from the bank the exchange rates and
interest rates that apply to your current account. The bank
can change exchange rates and interest rates at any time
without giving you prior notice.
5. Statements
5.1. How often do you receive an account statement?
You receive a statement of payment transactions and
other items debited and credited to your current account
at least once a month. If you have Internet Banking, you
can see a real-time account statement whenever you wish.
5.2.Is it possible to receive paper account statements
more often?
If you wish, you can receive extra paper account statements.
You will have to pay a charge for this. The Payment Services
Information Sheet gives more details.
6. Security and risk allocation
6.1.How can you prevent misuse of your current
account, bank card and other client identifiers?
You must abide by all our rules and regulations on the use
and security of payment services. These rules can be found
in the General Conditions of ABN AMRO Bank N.V. and in
section 1 of the Payment Services Information Sheet.
January 2015
6.2.How can you limit loss as a result of misuse?
If an unauthorised person uses or could use your client
identifier, you must notify the bank of this immediately.
This applies to your bank card and PIN as well as to any
other means of identification; for example, passwords,
codes or identity cards. You should also notify the bank
if a bank form bearing your name is lost or stolen.
6.3.Who bears the risk of misuse?
If the bank debits a payment to your current account
without a valid order, the debited amount will be for
the account of the bank, with the following exceptions.
▶▶ If your bank card or other client identifier is lost or
stolen, you are personally liable for up to € 150. This
amount applies even if you have failed to keep secure
your PIN or other personal security feature of a client
identifier, owing to which other people are able to use
them. This personal liability does not apply to payments
at POS terminals where the use of a PIN is not required.
Your personal liability applies only to payment transactions
up to the time that you notify the bank that someone
could make unauthorised use of your client identifiers.
▶▶ If you have been wilfully or grossly negligent in adhering
strictly to our rules, the payment transactions will be
entirely for your own account and risk. This applies up
to the time that you notify that bank that someone
could make unauthorised use of your client identifiers.
▶▶ If you act with fraudulent intent, the payment transactions
will be entirely for your own account and risk.
bank. To withdraw cash, you need to use your bank card
and PIN or another client identifier prescribed by the bank.
With a bank card bearing the Maestro logo you can make
withdrawals at ATMs displaying the Maestro or Cirrus
logo both in the Netherlands and abroad.
8.2. What is a deposit and how can you make a deposit?
A deposit is a payment transaction in which the bank receives
cash and credits this to your current account. You can deposit
cash at the bank’s ATMs that have a deposit function.
9. Transfers
9.1.What is a transfer and what types of transfers are
there?
In the case of an outgoing transfer, the bank debits your
current account and ensures that the payee’s bank receives
the payment. In the case of an incoming transfer the bank
receives the payment on your behalf and credits your
current account.
Giro collections (acceptgiro) and iDEAL payments are
transfers for which you issue an instruction by means of
a preprinted instruction form. Instructions for giro collection
are given on paper. Instructions for iDEAL are given online.
A standing order is a transfer that the bank repeats at
fixed intervals. Only one instruction to the bank is required.
In this regard, the bank differs from the risk allocation as
defined in the Client Relationship Conditions.
You can also ask the bank to treat a transfer as an urgent
or express transfer. In that case the bank makes the
transfer as rapidly as possible.
7. Indirect loss and consequential loss
9.2.What rules apply to a transfer instruction?
The bank is not liable for any indirect on consequential
loss you may incur. This refers to losses other than amounts
that have been wrongly debited from your account; for
example, a loss that you incur because you are temporarily
unable to make payment.
This rule would cease to apply in the event of wilful
misconduct or gross negligence by the bank.
8. Withdrawals and deposits
The bank is not obliged to check that the name of the
payee and other details in your instruction are correct.
The bank carries out your instruction on the basis of the
payee’s account number that you mention in the instruction.
Instructions for euro-denominated transfers within the
SEPA area must include the payee’s IBAN (International
Bank Account Number)2.
10. Direct debit
10.1. How does direct debit work?
8.1.What is a withdrawal and how can you make a
withdrawal?
A withdrawal is a payment transaction in which the bank
issues you with cash to the debit of your current account.
You can withdraw cash at automated teller machines (ATM).
You can also order cash and collect it at a branch of the
2
A direct debit is a transfer from your current account for which
not you but the payee (the creditor) issues the payment
order. You must first authorise this by giving the payee
a direct debit mandate. This mandate also acts as your
permission to the bank to execute the payment order.
In
the case of transfers via Internet Banking to recognised charities in the Netherlands, you can state an account number other than the IBAN until February 2016.
Page 5 of 7  Retail Payment Services Conditions
January 2015
You can withdraw your mandate by notifying the payee
accordingly.
Direct debits are blocked immediately after the bank
receives your instruction to block them.
Direct debits are only possible for euro-denominated
payments between accounts at banks within the SEPA
area. More information can be found at abnamro.nl
Once you have given an instruction to block a direct debit
the bank will refuse the direct debit. You will not receive
any further notification of this.
10.2. Can you have a direct debit reversed?
You can also ask the bank to unblock direct debits.
The direct debit will be unblocked no later than the next
working day.
You can ask the bank to reverse a direct debit without
having to give a reason. But you need to do so within
eight weeks of the payment being debited from your
current account. An exception to this rule applies if you
have given a direct debit mandate for a certain amount
in order to take part in the Dutch direct debit no-refund
scheme for lotteries. In this case, no reversal is possible
(until 1 February 2016).
10.3. What can you do about an unauthorised direct debit?
If there is no valid mandate for a collected direct debit,
you can request the bank to refund the amount to your
current account. You should do this as quickly as possible,
in any case within thirteen months of the debit. The bank
will then check whether the creditor can show a valid
mandate. If the creditor cannot do so, the bank will
refund the amount. The bank follows this procedure
only if it is impossible to reverse the debit without having
to give a reason within eight weeks.
10.4. Can your current account be blocked to direct debits?
You can have your current account blocked to direct debits
in the following ways:
▶▶ block all direct debits
▶▶ block all direct debits relating to a particular creditor.
This is only possible if the bank has previously
received an instruction from that creditor.
▶▶ block all direct debits relating to a particular mandate.
This is only possible if the bank has previously
received an instruction based on that mandate.
▶▶ block (refuse) a specific direct debit. This is only possible
if the bank has already received the direct debit
instruction.
▶▶ block a particular direct debit if the amount is higher
than the maximum amount you have specified
▶▶ block a particular direct debit if this would be made
more often that the maximum times per calendar
year that you have specified
▶▶ block all direct debits apart from direct debits initiated
by particular creditors that you have registered with
the bank (possible as from 1 March 2015)
▶▶ block all direct debits apart from direct debits based
on particular mandates that you have registered with
the bank (possible from 1 March 2015)
Page 6 of 7  Retail Payment Services Conditions
11. Payment at a point of sale terminal
11.1. How do you pay at a POS terminal?
You can make payments from your current account at a
POS terminal with your bank card bearing the Maestro
logo in conjunction with your PIN. This is possible in the
Netherlands and abroad at any business that accepts
Maestro.
In the following cases, you can pay without using your PIN.
▶▶ If your bank card and POS terminal feature the
contactless indicator, you can pay without entering
your PIN. This is possible for individual amounts of
up to € 25. However, you may still have to key in your
PIN, even for a small amount.
▶▶ To pay parking fees or tolls when the pay machine
does not indicate that you must enter your PIN.
This is possible for individual amounts of up to € 50
for parking fees and up to € 100 for tolls.
▶▶ Outside the Netherlands, some businesses do not
require you to enter your PIN, but ask you to sign a
transaction slip instead.
You can use your smartphone to pay at POS terminals,
provided that your smartphone is equipped for this and
you have installed the bank’s payment app. You can pay
in this way at POS terminals that display the contactless
indicator. You use a different identification number for
this than you so with the bank card, the so-called mPIN.
This is a four-digit number that you key into your smartphone, not the terminal. You can pay individual amounts
of up to € 25 without using your mPIN. However, you
may still have to key your mPIN, even for a small amount.
11.2. How does the payment work if it is not approved in
advance?
Sometimes the exact amount of a payment at a POS
terminal is still not known at the time you OK the payment;
for example, at an unmanned service station. The bank
then debits a provisional amount to your current account.
As soon as the actual amount is known, the bank replaces
the provisional amount with the actual amount.
January 2015
12.Payment services information sheet/
forwarding information
The Payment Services Information Sheet contains more
rules and information on the bank card, client identifiers,
current account, payment transactions, working days,
limits, charges and fees, and statements. You must abide
by the rules in this information sheet.
You can ask the bank to forward you further copies of the
Payment Services Conditions and/or the Payment Services
Information Sheet.
13. Change/termination
13.1. Can the bank change its conditions?
The bank can change and add to the Payment Services
Conditions and the Payment Services Information Sheet.
If the bank intends to do so, it will let you know at least
two months in advance. The changes and additions will
apply to you unless you cancel the payment services
before they come into effect.
13.2. What rules apply to the cancellation of payment
services?
You can cancel payment services whenever you wish by
notifying the bank accordingly. The bank will terminate
the payment services on the last day of the month in
which the bank receives your notice of cancellation.
The bank can also cancel payment services. In that case it will
give you at least two months’ prior notice of cancellation.
ABN AMRO Bank N.V., established in Amsterdam.
Amsterdam Chamber of Commerce Trade Register no. 34334259.
Page 7 of 7  Retail Payment Services Conditions
January 2015