Bank switching service - Regulation

Transcription

1 versin 3.0-1/7/2011 Bank switching service - Regulatin This Regulatin cnstitutes the verall framewrk in which the participating banks in Belgium ffer cnsumers a bank switching service fr current accunts. The participating banks are listed n the fllwing webpage: > mbilité 1. Definitins Accunt hlder: any cnsumer (a natural persn acting exclusively fr nn-prfessinal purpses) hlding a eur-denminated current accunt in the previus bank and the new bank, wh wishes t use the bank switching service fr these tw accunts by signing the applicatin frm. If applicable, fr the purpses f this Regulatin s applicatin, accunt hlder is als defined as: any persn duly authrised t represent the accunt hlder as defined abve, withut prejudice t the applicatin f the standard terms f the previus bank and/r f the new bank. any c-hlders f the current accunt held at the new bank and/r at the previus bank wh, pursuant t the pwers applicable t them, must jintly sign the applicatin frm with the accunt hlder as defined belw. Payment rders: payment rders (standard ptins) in EUR within the SEPA zne 1 that have t be executed n the previus current accunt, as these are exhaustively listed and described belw: active Belgian (DOM80) and Eurpean (SEPA Direct Debit) direct debits, i.e. thse fr which at least ne effective debit has been executed within the last thirteen mnths befre the starting date; standing transfer rders; transfer rders, set up fr a future executin date (hereinafter mem-transfers ). 1 Cnsult the list f the participating cuntries n the fllwing website: Belgian Financial Sectr Federatin Rue d Arln 82 B-1040 Brussels T F

2 2 Settlement: the clsing f the previus current accunt, including the transfer f its balance, if any, n the new current accunt, the stpping f all payments (payment rders and ther rders) and the stpping f the credit and debit cards attached t the previus current accunt. Applicatin frm: Bank Switching Service Applicatin frm, by which the accunt hlder gives the fllwing instructins t the previus bank and the new bank, which will execute these in accrdance with the prcedures stipulated in this Regulatin: - the transfer f all f his payment rders; - the settlement f the previus current accunt; - r bth. Previus current accunt: the eur-denminated current accunt at the previus bank, as indicated n the applicatin frm, f which the cmpetent accunt hlder wishes t transfer the payment rders and/r f which he requests the settlement. Previus bank: the bank established in Belgium at which the previus current accunt is held and that participates in the bank switching service. New current accunt: the new eur-denminated current accunt pen at the new bank, as indicated n the applicatin frm, t which the cmpetent accunt hlder wishes t transfer the payment rders f the previus current accunt and/r n which will be psted any psitive balance f the clsed previus current accunt. New bank: the bank established in Belgium at which the new current accunt is held and that participates in the bank switching service. Starting date: the date n which the new bank receives the applicatin frm duly filled in and signed by the accunt hlder. Transfer date: the date n which the previus bank transmits the infrmatin in its pssessin t the new bank. Switching date: the date n which the previus bank receives frm the new bank the applicatin frm filled in by the accunt hlder.

3 3 2. Characteristics 2.1 The bank switching service enables any accunt hlder t transfer the payment rders which have t be executed n his previus current accunt at his previus bank, t his new current accunt at his new bank, withut having t cntact his previus bank himself. The new bank centralises the full prcess t be implemented. He may als request, via his new bank, the settlement f his current accunt at the previus bank. 2.2 The accunt hlder may chse between the fllwing ptins fr the rendering f the bank switching service: Only the transfer f all f his payment rders ; The transfer f all f his payment rders and settlement f the previus current accunt ; Only the settlement f the previus current accunt. 2.3 The bank switching service itself is free f charge fr the accunt hlder, except fr any fees assciated with the related peripheral services rendered by the banks (expenses fr dispatch needed t ntify creditrs, ) and the applicatin f the cntractual cnditins f the previus bank and the new bank. 3. Prcedure 3.1 The accunt hlder will cntact the new bank, which will prvide him a Bank Switching Service Applicatin frm. The frm must be duly filled in and signed by the cmpetent accunt hlder(s), wh may have access t the previus current accunt and the new current accunt, respectively. One applicatin frm fr each previus current accunt will be returned. 3.2 The new bank will help the accunt hlder and supprt him with the bank switching file, in particular, by making available t him specimen letters t be prvided t third parties in rder t infrm them f the number f his new current accunt.

4 4 3.3 The new bank will send the applicatin frm t the previus bank within at mst three banking days fllwing the starting date. 3.4 By filling in and signing the applicatin frm, the accunt hlder expressly indicates his cnsent t the bank switching service as described in this Regulatin, and, mre specifically t the fllwing: In the event f a request t transfer all f his payment rders t the new accunt: - transfer, by the new bank, t his new current accunt f all f his payment rders listed in the summary received frm the previus bank. If this is nt entirely pssible, in particular, if prcedures differ vis-à-vis the previus bank, the new bank shall, t the extent pssible, find a suitable slutin; - the fact that the previus bank nly transfers the payment rders existing n the transfer date. Neither the previus bank nr the new bank can be held liable fr the nn-transfer f payment rders input after this date; - as fr payments which d nt meet the definitin f payment rders accrding t this Regulatin and therefre fall utside the scpe f this bank switching service: - t be deleted in case f any settlement f the previus current accunt (see belw) - n transfer as part f the bank switching service in the event f nn-settlement f the previus current accunt. Cnsequently, they still will be executed by the previus bank n the previus current accunt; in the event f a request fr settlement f his previus current accunt with linked credit card(s): the hlder f the previus current accunt undertakes t immediately cut up all credit cards (tgether with the silicn chip) attached t the previus current accunt and t immediately return these t the previus bank. As lng as these cards are nt recvered by the previus bank, the accunt hlder shall cntinue t be fully liable fr all transactins assciated with the cards and that are still

5 5 executed. In this case, the accunt hlder shall explicitly release the previus bank frm any and all liability. the hlder f the new current accunt shall explicitly mandate the new bank fr it t pay via the new current accunt and within the authrised limits, as sn as requested by the previus bank, the expenses/transactins, if any, incurred/carried ut using the credit card(s) attached t the previus current accunt, the accunt hlder undertakes t immediately ntify the creditrs t whm he has given a mandate, via his credit card(s) linked t the previus current accunt, t debit his previus current accunt n a recurrent basis, that this mandate is terminated. In this case, he shall explicitly release bth the previus bank and the new bank frm any and all liability. each accunt hlder shall explicitly indicate his cnsent t the transfer, by the previus bank in its capacity as entity respnsible fr prcessing, f his persnal data t the new bank, which receives said data as the entity respnsible fr prcessing, in rder t execute the bank switching service as described in this Regulatin, as well as fr all ther purpses f which it will have infrmed the accunt hlder befrehand when the new accunt is pened. If necessary, it will be stipulated that the prcessing f persnal data f the accunt hlder includes the cmmunicatin f sme f these data t third parties with whm the accunt hlder is in a cntractual relatinship. The accunt hlder expressly cnsents t such a transfer as described in this Regulatin. 3.5 The previus bank shall, within at mst three banking days fllwing the switching date, in the event f a request t transfer all payment rders and after having checked the cnfrmity f the applicatin frm: - cllect and send the data in its pssessin cncerning the relevant payment rders; - execute all current payment rders up t the transfer date; - stp and/r delete all payment rders transferred, the due date f which is psterir t the date f transfer f the data t the new bank. If the request is nn-cnfrming, r if there is a legal r cntractual reasn precluding the perfrmance f the bligatins f the previus bank, the latter shall infrm the new bank, within at

6 6 mst seven three days frm the switching date, that it is impssible t cmply with the request. The new bank shall s infrm the accunt hlder. If the applicatin cvers a transfer f all payment rders as well as a settlement and there is n pssibility t carry ut this settlement, the transfer f all payment rders nevertheless will be executed. in the event f a request fr settlement and after having verified the cnfrmity f the applicatin frm: - t cancel/blck all f the debit cards assciated with the previus current accunt. If there is a psitive balance assciated with the Prtn functin f the card(s), the accunt hlder can cntinue t use the Prtn functin f the card(s), slely fr the purpse f making payments within six mnths f the blcking/cancellatin f the card(s) in questin, r else, he can ask t be reimbursed fr the abve-mentined psitive balance, by the previus bank, befre the clsing f the previus current accunt; - t cancel all f the credit cards assciated with the previus current accunt (see abve); - t stp and/r delete all payment rders and payments the executin f which, frm the previus current accunt, is set up fr a future date; - t transfer the psitive balance, if any, t the new current accunt, after deducting any unpaid expenses knwn n this date and made via the credit cards assciated with the previus current accunt and/r cntractually stipulated expenses; - finally, t clse the previus current accunt; - t s infrm the hlder(s) f the previus current accunt. If there are credit cards attached t the previus current accunt, this accunt will be clsed at the latest three mnths after the transfer f the psitive balance, withut prejudice t the right f the previus bank t clse the previus current accunt earlier and cnsistent with applicable laws and/r regulatins. N management fees fr the previus current accunt will be charged fr this perid during which the previus current accunt remains pen, as stipulated abve.

7 7 If the request des nt cnfrm, the previus bank shall infrm the new bank, within at mst three banking days frm the switching date, that it is nt pssible t satisfy the request. The new bank shall s infrm the accunt hlder(s). If settlement turns ut t be impssible due t a legal r cntractual bligatin, r in the event that settlement results in a debit balance, the previus bank shall directly infrm the hlder(s) f the previus current accunt. 3.6 Prvided that this is technically pssible, that the necessary infrmatin has been transmitted and save fr any unfreseen bstacles r cmplicatins, the new bank, in the event f a request t transfer all payment rders: - shall input, at the latest within ne banking day fllwing the transfer date, all payment rders (except fr Eurpean direct debits) n the new current accunt based n the data prvided by the previus bank; - shall give cnfirmatin theref, at the latest within ne banking day after the transfer date, t the hlder(s) f the new current accunt. - shall infrm, at the latest tw (as a matter f principle) banking days after the transfer date, the accunt hlder s creditrs whse receivables are paid n the basis f a Belgian (DOM80) direct debit mandate entrusted t the creditr by the accunt hlder, f the mdificatin f the accunt number attached t the abve-mentined direct debit mandates. If applicable, the new bank may als invite the relevant accunt hlder(s) t sign directly with it a new direct debit mandate fr all r part f the abve-mentined receivables. In this case, the new bank shall infrm the accunt hlder(s). The accunt hlder expressly accepts and acknwledges that the new bank s bligatins mentined in the previus paragraph are limited t an bligatin t infrm the relevant creditr(s), and that he is respnsible, as are the relevant creditrs, fr entering int a new direct debit agreement t cver the direct debits in questin. This agreement must be submitted t the new bank as quickly as pssible. Any debit t the new current accunt and cncerning a direct debit transferred frm the previus current accunt will be executed by the new bank n the new current accunt irrespective f the receipt, by the new bank, f the new direct debit agreement cncluded between the accunt hlder and the relevant creditr r, if applicable, the signing f the new direct debit mandate by the accunt hlder with the new bank.

8 8 - shall infrm, at the latest tw (as a matter f principle) banking days after the transfer date, the accunt hlder f the infrmatin pertaining t Eurpean direct debits it has received frm the previus bank. If the accunt hlder s requests and prvided that he prvides the new bank the necessary infrmatin (i.e. the name and address f the creditr, the mandate reference number, the subscriptin number r custmer number as well as the mandate type (nly nce r repeatedly), the new bank shall infrm the creditrs as mentined in this infrmatin and whse receivables are paid via a Eurpean direct debit ( SEPA Direct Debit ) executed n the previus current accunt, f the mdificatin f the accunt number. Only the creditr(s) and the accunt hlder(s) are persnally respnsible fr the actins that are required t be undertaken in respnse t this infrmatin. The accunt hlder expressly accepts and acknwledges that the new bank s bligatins mentined in the previus paragraph are limited t an bligatin t infrm the relevant creditr(s), and that he is respnsible, as (is)are the relevant creditr(s), fr entering int a new direct debit agreement t cver the direct debits in questin. The new bank will execute Eurpean direct debits n the new accunt, as sn as it has received the request fr cllectin frm the bank f the relevant creditr(s). 3.7 The new bank and the previus bank undertake t render the bank switching service in a prudent manner and t give their best effrts t this end (best effrts bligatins). It fllws that in the event that the bank switching service cannt be fully r duly executed, the banks will implement the slutin that is best fr the accunt hlder. The new bank and the previus bank undertake t cmply with the time limits prvided fr in this Regulatin, with the exceptin f any unplanned slw-dwns, fr example, in infrmatin flws. In additin, the new bank and the previus bank cannt be held liable fr any slw-dwns r fr nn-cnfrming rendering f the bank switching service arising frm tardy r incmplete perfrmance by third parties. 4. Liability and hlding harmless Withut prejudice t the Standard Banking Terms in frce, the accunt hlder explicitly releases the new bank and the previus bank frm any liability, with the exceptin f their deceit and their grss

9 9 negligence, with respect t any damages arising frm executin r breaches bserved in rendering the bank switching service. The accunt hlder(s) shall hld the new bank and the previus bank harmless frm any actins brught by third parties and cncerning the executin f the bank switching service. 5. Gverning law and disputes If he des nt receive a satisfactry reply t his cmplaint abut the bank switching service frm its new bank and/r its previus bank, the accunt wner may cntact the Financial Industry Mediatin Service at: Service de Médiatin Banques - Crédit - Placements, rue Belliard bîte 8, 1040 Brussels, tel , mbudsman@mbfin.be and The bank switching service and the dcuments gverning its existence and the perating prcedures are gverned by Belgian law. Only Belgian curts may rule n disputes between the new bank and/r the previus bank and/r the accunt hlder(s) cncerning the existence, interpretatin and applicatin f this Regulatin and the ther dcuments cncerning the bank switching service.