BUSINESS TERMS AND CONDITIONS FOR THE EUROGIRO SERVICE

Transcription

1 BUSINESS TERMS AND CONDITIONS FOR THE EUROGIRO SERVICE Československá obchodní banka, a. s. Poštovní spořitelna GENERAL 1. Československá obchodní banka, a. s., Radlická 333/150, Prague 5; ID No.: , registered in the Commercial Register maintained by the Municipal Court in Prague, section B: XXXVI, entry 46 (hereinafter referred to as the Bank ) hereby issues these Business Terms and Conditions for the EUROGIRO Service (hereinafter referred to as the Conditions ) pursuant to the provisions of Sec of Act No. 89/2012 Coll., the Civil Code, and pursuant to Act No. 284/2006 Coll., on the Payment System, as amended. 2. Through its EUROGIRO service, the Bank enables the making of payment transactions to and from foreign countries using the EUROGIRO NETWORK, A/S international electronic network (hereinafter referred to as the EUROGIRO NETWORK ). Legal relations related to the provision of the service shall be governed by the laws of the Czech Republic. 3. Within the scope of these Conditions, the EUROGIRO Service is provided by each post office in the Czech Republic and each of the Bank s financial centres featuring the Poštovní spořitelna logo (hereinafter jointly referred to as Points of Sale ). The Bank may restrict or exclude cash operations in selected financial centres. The scope of cash services provided is publicised in the operating premises of each financial centre and at A payment transaction in the EUROGIRO Service shall mean the making of payments originating from a current account maintained at Poštovní spořitelna, by means of a cashless transfer or by a payer putting down cash at a Point of Sale, and the crediting of payments arriving in a payee s account or the payment of cash to payees (hereinafter referred to as a Payment Transaction ). 4. These Conditions shall be available at all Points of Sale and in electronic form at 5. The Bank makes outgoing and incoming payments through the EUROGIRO Service to and from those countries in which a EUROGIRO NETWORK member bank/postal administration with whom the Bank has entered into a bilateral agreement is based (hereinafter referred to as EUROGIRO NETWORK Contractual Countries ). 6. A list of the EUROGIRO NETWORK Contractual Countries of member banks/postal administrations, the limit amounts, fees, and currencies are specified in the Poštovní spořitelna list of tariffs (hereinafter referred to as the List of Tariffs ), which is available for consultation at each Point of Sale. 7. EUROGIRO NETWORK Contractual Countries enable the following Payment Transactions: a) Payment of cash in an EUROGIRO NETWORK Contractual Country; b) Transfer to an account maintained by a EUROGIRO NETWORK member bank/postal administration; c) Transfer to an account maintained by other banks in EUROGIRO NETWORK Contractual Countries. Information about the restriction of any of the options listed above is provided in the List of Tariffs. OUTGOING PAYMENTS TO OTHER COUNTRIES 8. An outgoing EUROGIRO payment may be made by the putting down of cash in CZK at a Point of Sale or by a cashless transfer from an account maintained by the Bank (written submission) or electronically through the Poštovní spořitelna Electronic Banking Services (hereinafter referred to as the ELB Service/ELB Services ), if this is supported by ELB Services. 9. Payment transactions are carried out for the Bank s clients and payers on the basis of the completion of a written EUROGIRO payment order (hereinafter referred to as a EUROGIRO Order ) which is available at a Point of Sale, as either a one-time or standing payment. A standing

2 EUROGIRO payment may only be effected by means of a cashless transfer of funds from a client s account. 10. The Bank shall execute a EUROGIRO order or transfer funds to an account in a foreign member bank (see paragraph 7 (b)) within 3 business days of the receipt of a EUROGIRO Order at a Point of Sale. The receipt of a EUROGIRO Order shall be deemed to take place one business day after its submission at a Point of Sale. Subsequently, the foreign bank shall process the incoming payment according to the payment type and the payment conditions for the EUROGIRO Service. 11. In the case of a Payment Transaction that is made by the transfer of cash, the payment amount is converted at the Bank s foreign currency sale rate specified in the exchange rate list applicable for the given Business Day on which the EUROGIRO Order is submitted to a Point of Sale, and shall be rounded up to whole crowns. In the case of a cashless transaction, the payment amount shall be converted at the Bank s foreign exchange sale rate specified in the exchange rate list applicable on the day/at the time of the receipt of the EUROGIRO Order. In the event of significant exchange rate fluctuation on the interbank foreign-exchange market, the Bank may change the Bank s foreign exchange list even in the course of a single business day. Information about exchange rates is published at If CZK is permitted as the currency for an outgoing payment, the currency conversion shall be performed by the foreign bank. 12. The Bank shall process a EUROGIRO Order provided it contains the following compulsory details: - The surname and first name of the payer, including his/her address and postal code only within the Czech Republic - The payer s account number only in the case of a payment from an account of the Bank s client - The surname and first name of the payee or company name, including the address and postal code and the country for payments to be paid in cash, a postal / ZIP code must be provided - Currency and payment amount - Payee s account number for payments going to European Union and European Economic Area member states, the payee s/addressee s account number must be provided in the IBAN format - Name and address of the payee s bank - for payments going to European Union and European Economic Area member states, the BIC/SWIFT code must be provided - Purpose of payment - Fee payment code - OUR/SHA/BEN: - For payments going to European Union and European Economic Area member states, only the SHA or OUR fee code is permitted - For Payment Transactions to be paid out in cash to the payee, only the OUR fee code is permitted - Confirmation of consent to the conditions and charging of fees in line with the List of Tariffs by means of a signature, including the date of the submission of the EUROGIRO Order. 13. For standing EUROGIRO payments, the following details are also compulsory: - Whether a standing EUROGIRO Order is being set up or cancelled; - Frequency of payments; - The first day from which the recurring payments are to commence, and, if relevant, the last day on which the recurring payments are to stop. When cancelling a standing order, a client must submit a completed EUROGIRO Order within 5 business days, and in the case of an electronic order 1 business day, before the date of the last required EUROGIRO payment, if he/she has not completed the date last time on when setting up a EUROGIRO standing payment. 14. In the case of a cash payment, the client confirms by signing in the Date and Signature box that he/she has familiarised himself/herself with and agrees to the Conditions and the charging of fees in line with the List of Tariffs. In the case of a cashless payment, the client, by his/her signature, also agrees to the transfer of funds from his/her account and, for that reason, his/her signature must correspond to his/her specimen signature for the account maintained by the Bank.

3 15. The Bank shall not process an incomplete, incorrect, or illegible EUROGIRO Order and shall inform the client thereof in writing. The Bank shall refund the cash the client has put down, by means of a cheque. 16. In the case of an electronic submission, a client confirms having familiarised himself/herself with the Conditions and the charging of fees in line with the List of Tariffs by entering the authorisation features issued for the ELB Service and thereby also gives his/her consent to the transfer of funds from his/her account. 17. The Bank shall be authorised not to execute a EUROGIRO payment if it entails a risk of the legalisation of the proceeds of crime or financing of terrorism or if there is a suspicion that the payee is subject to international sanction or a person listed in a list of sanctioned entities. 18. The Bank may refuse a Payment Transaction to an EU/EEA member state in an EU/EEA member state currency and return the Payment Transaction amount to the client/payer, if the conditions for such Payment Transactions have not been met. INCOMING PAYMENTS FROM ABROAD 19. The Bank shall credit the Payment Transaction amount, i.e., an incoming payment through the EUROGIRO Service, to the accounts of the Bank s clients (payees) maintained in CZK or in a foreign currency, on the business day when the Payment Transaction amount was credited to the Bank s account and when, at the same time, the Bank received from the payer s foreign bank the background documents required for the provision of the Payment Transaction amount to the payee (hereinafter referred to as the Time of Receipt of Payment ). The Bank may charge a fee on incoming payments. In the case of an incoming payment that is to be paid out to the payee in cash, the Bank shall make the payment through a cheque sent to the payee on the business day following the Time of Receipt of Payment. 20. With respect to Payment Transactions in currencies of countries outside of the EU/EEA, the Bank reserves the right to credit the Payment Transaction amount to the client s (payee s) account no later than on the business day following the day on which the Payment Transaction amount was credited to the Bank s account and when the Bank received from the payer s foreign bank the background documents required for the provision of the Payment Transaction amount to the payee. 21. An incoming payment amount (cashless payment) shall be converted at the Bank s foreign exchange purchase rate, based on the exchange rate list applicable at the Time of Receipt of Payment. An incoming payment amount that is to be paid out in cash (cash payment) shall be converted at the Bank s foreign currency purchase rate, based on the exchange rate list applicable at the Time of Receipt of Payment. In the event of significant exchange rate fluctuation on the interbank foreign-exchange market, the Bank may change the Bank s foreign exchange list even in the course of a single business day. Information about exchange rates is published at The Bank shall be authorised not to execute a payment coming from abroad, or refuse a payment from a payer s bank from a country that is included in the list of countries suspected of supporting terrorism, or through a bank and its branches, even outside such territories, if the parent bank is registered in a country included in the list of countries supporting terrorism. FEES 23. The Bank shall charge fees in line with the List of Tariffs applicable on the day of the settlement of the fee for the execution of Payment Transactions through the EUROGIRO Service and for other selected services. The current version of the List of Tariffs is available at Points of Sale and at OUR fee payment The payer pays all of the fees related to the payment, i.e., fees of the payer s bank (domestic fees) and the fees of the bank/postal administration of the payee (foreign fees). In that case, the payee receives the entire amount remitted.

4 25. SHA fee payment The payer only pays the fees of the payer s bank (domestic fees). In that case, the payee will pay the fees of the payee s bank/postal administration (foreign fees). 26. BEN fee payment The payee pays all of the fees related to the payment, i.e., the fees of the payer s bank (domestic fees) and the fees of the payee s bank/postal administration (foreign fees). In this case, the payee will receive the amount reduced by the payer s bank fees (domestic fees) and will also pay the fees of his/her own bank/postal administration (foreign fees). 27. The choice of OUR, SHA, or BEN fee payment depends on how the amount remitted is to be dealt with abroad, as follows: a) Payment to be paid out in cash only OUR fee payment may be used; b) Payment going to a payee s account with a EUROGIRO NETWORK member bank/postal administration OUR, SHA, or BEN fee payment can be used; the BEN fee payment option cannot be used for transfers to European Union and European Economic Area member states. c) Payment to a payee s account maintained by another bank in a EUROGIRO NETWORK Contractual Country only the SHA or OUR fee payment option may be used. If a payment goes to a bank other than a contractual EUROGIRO bank with the OUR fee payment option, the amount may be reduced by a fee of that bank (more precise information about the OUR fee option for selected countries, see the List of Tariffs). If an incorrect choice of the OUR/SHA/BEN fee payment option is made, the payment is returned to the client/payer as not executed/unprocessed. RETURN OF AN OUTGOING PAYMENT 28. If an outgoing payment is returned at the initiative of the receiving EUROGIRO NETWORK member bank/postal administration, because it cannot be delivered to the payee, the Bank shall return it to the client by crediting it to the client s account or by means of a cheque, reduced by the fees paid for the submission of a document and any other costs of the intermediary Payment Transaction providers related to the return of the Payment Transaction. CLAIMS 29. A client is entitled to lodge a claim with respect to an incorrectly executed transaction through the EUROGIRO Service, at any Point of Sale. A claim must be lodged without undue delay following the occurrence of the fact(s) giving rise to the claim, but no later than within the limitations period set by the applicable legal regulations. 30. Conditions for the lodging of a claim at a Point of Sale are a check of the identity of the person lodging the claim and the presentation of the original of a confirmation, e.g., a statement of account, copy of the EUROGIRO order, cheque confirmation, confirmation of another document, or another document to support the claim. 31. The Bank shall decide whether the claim is justified. The person lodging the claim shall always be notified in writing about the resolution of the claim. OTHER STIPULATIONS 32. The Bank shall identify the parties to a bank transaction pursuant to the applicable legislation, i.e., the client (or the person authorised to make a cashless Payment Transaction) / the sender of a EUROGIRO Payment Transaction. If a client / sender of a EUROGIRO Payment Transaction refuses to comply with the extent of identification required, the service requested shall not be provided. 33. The Bank may make, for its own use, photocopies of all of the documents presented by the Client. The Bank shall process the personal information of its client/sender of a Payment Transaction in connection with negotiations concerning the conclusion of an agreement on a Payment Transaction and the performance of an agreement to which the client/sender of a Payment Transaction is a party. Detailed information related to the processing of personal information is provided in the document Information about Personal Information Processing at and in the operating premises of Points of Sale.

5 CONCLUDING PROVISIONS 34. The authority carrying out supervision of the Bank s activities as concerns the provision of payment service is the Czech National Bank (Česká národní banka), with its registered seat on Na Příkopě 28, Prague 1. The Client may lodge a complaint with the supervisory authority. Clients may approach the financial arbiter with any disputes that may arise between the bank and clients in the execution of Payment Transactions. This does not prejudice the clients right of recourse to a court of law. 35. The Bank may propose an amendment of these Conditions. The Bank shall inform the client and sender about its proposed amendment of these Conditions in the operating premises of its Points of Sale and on the Internet at no later than two months before the day on which it is to take effect. Should the client not refuse the proposed changes, he/she shall be deemed to agree to the amendment of the Conditions. Should the Client refuse the proposed amendment before the proposed effective date of the change, he/she may terminate his/her use of the EUROGIRO Service with immediate effect. The same shall apply to changes in the List of Tariffs. 36. These Conditions shall take effect on 1 January 2014 and shall be available at all Points of Sale and at These Conditions shall supersede the conditions that took effect on 1 February Československá obchodní banka, a. s. PS 01/14