Payment service providers and banks must verify that the recipient’s name and account number match before transfers to deter fraud, and they will be liable for customer losses if fraud prevention fails.

Providers must freeze suspicious transactions to prevent fraud and cover costs for reimbursing customers affected by related fraud.

Banks and payment service providers are responsible for covering users’ losses if adequate fraud prevention is not implemented and must block suspicious transactions.

EU rules will let retailers offer cash withdrawals of 100 to 150 euros in-store without a purchase, expanding cash access in rural areas.

To improve cash accessibility, retailers may allow cash withdrawals up to 150 euros without requiring a purchase, addressing the lack of nearby ATMs.

The agreement still requires formal approval by the European Parliament and EU member states before becoming law.

Advertisers of financial services must clearly indicate legal permission or exemptions for platforms and search engines, or that they are advertising on behalf of an authorized entity.

All fees for card payments and cash withdrawals, including exchange rates and ATM fees, must be transparently displayed upfront.

New payment rules aim to reduce online fraud and increase transparency for card payments, cash withdrawals, and platform advertising, pending formal approval to enter into force.

Banks must ensure access to human customer care, not relying solely on chatbots.

The rules seek to clarify payment charges, improve rural cash access, and facilitate information sharing between banks and payment providers.

Identity fraud protection is strengthened with full refunds to customers who report fraud to the police.