New credit card rules for online shopping: How customers benefit
There will also be a restriction for sums under 30 euros in the future: Payments without double authentication are possible up to five times in a row - i.e. until the total amount of 150 euros has been reached. If the customer explicitly informs the bank that a merchant is trustworthy, dual authentication can be omitted.
The aim of the new directive is to make online payment transactions even safer for customers and to strengthen consumer protection.
Customers have a number of additional advantages as a result of the new regulations:
In the case of unauthorized debits, such as misuse by third parties, banks must refund the amount within one day after being informed.
If the card was debited by a third party after it was lost, the owner is only liable for up to 50 euros - previously it was up to 150 euros. However, this does not apply in the case of major negligence or intent.
Where transfers have been misdirected, financial institutions are required to disclose any information necessary to request a refund upon written request.
Retailers will no longer be able to charge additional fees for common cashless payment methods such as Sepa transfers or online credit card payments.
Up to now, car rental companies and hotels have often blocked amounts on the credit card at the time of booking without prior notice. This is now no longer possible without the explicit consent of the consumer
