4. Payees that decide not to accept all cards or other payment instruments of a payment card scheme shall inform consumers of this, in a clear and unequivocal manner, at the same time as they inform consumers of the acceptance of other cards and payment instruments of the payment card scheme.

Very quickly, the kinds of services that are more successful and that small businesses are looking for from a credit union are: interest rate and foreign exchange risk management; corporate credit cards and purchasing cards; credit card merchant services; direct payment; payroll; cash management; letters of credit; international financial services; foreign exchange; trade finance; leasing; insurance; group RRSPs; and employee benefits packages.

It requires banks to charge their customers no more for cross-border payments in euro within the EU than for domestic payments within a single Member State, whether those payments are made by credit card, payment card or bank transfer.

Although in the opinion (rapporteur: Umberto BURANI, Employers' Group, Italy), adopted by 118 votes to two with two abstentions, the Committee endorses the approach of extending the 1988 recommendation to reloadable electronic money products which may be linked with the account (i.e. bank-type prepaid cards and not single-use, non-reloadable prepaid cards such as telephone cards, motorway toll cards etc.), the detailed examination of the recommendation drawn up by the Commission criticizes certain inadequacies of the communication: lack of clarity in defining the scope, inconsistency in terms and content, omission or exclusion of cards w ...[+++]hich do not give access to a bank account, etc.

These include: - discussions with its two consultative groups (the Payments Systems Technical Development Group and the Payment Systems Users Liaison Group) on the ways in which the payment systems can best be prepared for the introduction of the Ecu - rapid progress, in the framework of an existing Task Force of government experts, on harmonising procedures for reporting cross- border credit transfers for the purposes of compiling balance of payments statistics (the Commission wants transactions below 10,000 Ecus exempted) - continuing discussions with Member State legal experts, central bank representatives and the EMI on harmonising t ...[+++]he legal framework for cross-border payments, in particular settlement finality for credit transfers (a Directive on settlement finality could be proposed in 1995) - maintaining contact with interested parties on the establishment of linkages between automatic clearing houses (ACHs, which process payments transfers at the national level) to assess how best to contribute to progress in this area - consulting with the Commission's two consultative groups on the results of an independent study to be completed in June 1995 on the information given to customers when using payment cards for cross-border payments (so-called face-to-face payments), and assessing the appropriate follow-up measures - launching a study on the regulatory implications for the EU of the use of pre-paid payment cards, particularly as regards the stability of the banking system, consumer protection and the promotion of interoperable cross-border banking services.

Importantly, doing this also allows our clients to put all of their RBC payment cards — not just one, but all, including their Interac debit, their primary credit card and, increasingly, a second merchant co-brand credit card — on the phone, ensuring that the client has choice in how to pay.