Glossary – List of the Most Representative Services

Term

Definition

Account maintenance

The payment service provider manages the account for use by the customer. 

Provision of a Debit Card

The payment service provider provides a payment card linked to the customer's account. The amount of each transaction made using the card is immediately and fully debited from the customer's account.

Provision of a Credit Card

The payment service provider provides a payment card linked to the customer's account. The total amount of transactions carried out during an agreed period is debited in full or in part from the customer’s payment account on an agreed date. The credit agreement between the payment service provider and the customer determines whether interest is charged on the borrowed funds. 

Cash withdrawal

The customer withdraws cash from their account.

Cash advance

The customer withdraws cash using the available credit limit on a Credit Card. 

Ordering and delivery of crossed cheques payable to order

The customer orders, and the payment service provider supplies, crossed cheques payable to order. A cheque payable to order may be transferred to a third party through endorsement.

Ordering and delivery of crossed cheques not payable to order

The customer orders, and the payment service provider supplies, crossed cheques not payable to order. A cheque not payable to order can only be paid to the person named as beneficiary and cannot be endorsed. 

Intrabank credit transfer

The payment service provider transfers funds, on the customer’s instructions, from the customer’s account to another account held with the same institution.

Intrabank standing order

The payment service provider makes regular transfers of a fixed amount, on the customer’s instructions, from the customer’s account to another account held with the same institution. 

SEPA+ credit transfer

The payment service provider transfers funds, on the customer’s instructions, from the customer’s account to another account within the SEPA+ area.

SEPA+ standing order

The payment service provider makes regular transfers of a fixed amount, on the customer’s instructions, from the customer’s account to another account within the SEPA+ area. 

Non-SEPA+ credit transfer

The payment service provider transfers funds, on the customer’s instructions, from the customer’s account to another account outside the SEPA+ area.

Non-SEPA+ standing order

The payment service provider makes regular transfers of a fixed amount, on the customer’s instructions, from the customer’s account to another account outside the SEPA+ area. 

Term

Definition

Basic Banking Services Account maintenance

The service associated with managing a Basic Banking Services Account, as provided for in paragraph (d) of Article 1(2) of Decree-Law No. 27-C/2000 of 10 March. 

Basic Account maintenance

The service associated with managing the Basic Account referred to in Banco de Portugal Circular Letter No. 24/2014/DSC of 10 March.

Packaged Account maintenance

A service that integrates the management of a payment account and the provision of associated services under conditions different from those applicable to Basic Banking Services Accounts and Basic Accounts, where the service is charged through a single fee. 

Provision of a private-label Credit Card

A service under which, pursuant to a credit agreement between the institution and the customer, a card is provided which may only be used on a limited basis and allows the holder only to: 
 
i) Purchase goods or services at the issuer’s premises or within a restricted network of service providers directly linked to the issuer by a commercial agreement; 
 
ii) Purchase a very limited range of goods or services; 
 
iii) Purchase specific goods or services from suppliers linked to the issuer through a commercial agreement (a card valid only in Portugal supplied at the request of a company or public sector entity and regulated by a national or regional public authority for specific social or tax purposes).

Intrabank instant transfer

A euro funds transfer service between payment accounts within the SEPA area, where the transfer order is immediately received by the payer’s payment service provider and the funds are made available in the beneficiary’s account within a maximum of 10 seconds after receipt of the transfer order.

SEPA+ instant transfer 

An instant transfer service within the SEPA+ area.

Transfer using a Debit Card

A service consisting of sending funds through a transaction processed using a Debit Card.

Transfer using a Credit Card 

A service consisting of sending funds through a transaction processed using a Credit Card.