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The Payment Services Regulations 2009 implement the European Payment Services Directive and aim to apply consistent standards to all payment services providers in the UK and the European Economic Area. The main changes which affect you are:
Changes in the information that we provide or make available to you, before, during and after a transaction is made, e.g. including the exchange rate for currency conversions on your statement.
Changes to your rights in relation to payments such as;<br />a) Interest will be calculated on transactions from the posting date to the account rather than the transaction date (this is usually 1 or 2 days after the transaction has been made
Cash payments made through a Barclays branch will be treated as made on the day they are paid into the branch
Any incorrectly applied transactions will not only be refunded but any fee or interest charged will also be reversed in every case d) Where the amount of transactions is not known when you authorise them (e.g. hotel pre-authorisations for mini bar bills), and cost more than you reasonably expect, you have a right to request a refund from us for up to 8 weeks from the date of the transaction.
Read more about changes to your terms and conditions.
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