ACT on Payment Services 1 ) 2 ) of 19 August Part 1 General Provisions

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1 ACT on Payment Services 1 ) 2 ) of 19 August 2011 Part 1 General Provisions Article 1. This Act sets out rules for the provision of payment services, including: 1) the conditions for provision of payment services, in particular regarding the transparency of contractual regulations and requirements regarding the provision of information about payment services; 2) the rights and obligations of parties arising out of contracts for the provision of payment services and also the extent of providers responsibilities in respect of payment services; and 3) principles of conduct of the business of payment institutions and payment service offices, including through the intermediation of agents of these entities, and the principles of exercising supervision of these entities. Article 2. For the purposes of this Act, the following definitions shall apply: 1) agent means a natural person or a legal person or an organisational unit that is not a legal person on which the law confers legal capacity, which acts for and on behalf of a payment institution or a payment service office in providing payment services; 2) reference interest rate means an interest rate which comes from publicly available sources which can be verified by both parties to a contract for the provision of payment services; 3) close ties means close ties within the meaning of Article 4 paragraph 1 point 15 of the Banking Law of 29 August 1997 (Journal of Laws 2002 No. 72 item 665, as amended 3) ), referred to hereinafter as the Banking Law"; 4) value date means a reference point in time from which or up to which a provider calculates interest on funds debited from or credited to a payment account; 5) business day means a business day respectively for the payer s provider or the payee s provider; 6) host Member State means a Member State other than the home Member State in which a payment service provides payment services, including through an agent engaged in business in that state or through a branch in the state; 7) group means a) a parent undertaking together with its subsidiaries and: - an entity in which the parent undertaking or its subsidiary has a shareholding or

2 - a joint subsidiary, b) entities that are linked in such a way that more than half the members of the managing, supervisory or administrative bodies of one entity simultaneously perform managerial functions or are members of the supervisory or the administrative body of another entity, or c) entities that are linked in such a way that one entity influences the financial and operating policies of another entity; 8) hybrid payment service office means an office providing payment services which in addition to payment services is also engaged in other commercial activities; 9) hybrid payment institution means a payment institution which in addition to payment services is also engaged in other commercial activities; 10) payment instrument means any personalised device or set of procedures agreed by a user and a provider which is used by the user to place a payment order; 11) payment institution means a domestic payment institution or an EU payment institution; 12) entity means an entity within the meaning of Article 3 paragraph 1 item 1 of the Act on Accounting of 29 September 1994 (Journal of Laws 2009 No. 152 item 1223, as amended 4) ), referred to hereinafter as "the Act on Accounting"; 13) parent entity means a parent entity within the meaning of Article 3 paragraph 1 point 37 of the Act on Accounting; 14) joint subsidiary means a joint subsidiary within the meaning of Article 3 paragraph 1 point 40 of the Act on Accounting; 15) subsidiary means a subsidiary within the meaning of Article 3 paragraph 1 point 39 of the Act on Accounting; 16) domestic payment institution means a legal person who under Article 60 paragraph 1 has been authorised to conduct business as a payment institution; 17) home Member State means the Member State in which the registered office of a payment service provider is situated or, if the provider has under its national law no registered office, the Member State in which its head office is situated; 18) payee means a natural person, a legal person or an organisational unit that is not a legal person on which the law confers legal capacity which is the recipient of funds that are the subject of a payment transaction; 19) branch means a branch within the meaning of Article 5 point 4 of the Act on Freedom of Economic Activity of 2 July 2004 (Journal of Laws 2010 No. 220 item 1447, as amended 5) ), referred to hereinafter as the "Act on Freedom of Economic Activity", while in the case of an EU payment institution all of its branches located oin the territory of the Republic of Poland shall be regarded as a single branch; 20) managing person means a member of the management board of a payment institution or payment service office, or if an institution or office does not have a management board the person responsible for the management of that institution or office who is not subordinate to another person, and in the case of a hybrid payment institution or a hybrid payment service office the member of the management board or the person responsible for the management of the institution or office as regards payment services; 21) Member State means a Member State of the European Union or a Member State of the European Free Trade Agreement (EFTA) or a party to the agreement on the European Economic Area;

3 22) payer means a natural person, a legal entity or an organisational unit that is not a legal person on which the law confers legal capacity who places a payment order; 23) single payment transaction means a payment transaction which is not covered by a framework contract; 24) entrepreneur means is an entrepreneur within the meaning of the Act on Freedom of Economic Activity; 25) payment account means an account maintained for one or more users for the execution of payment transactions, with payment account being understood to mean a bank account or an account of a member of a cooperative savings and credit union if those accounts are used for the execution of payment transactions; 26) reference exchange rate means an exchange rate provided by a payment service provider or coming from a publicly available source; 27) payment system means a system for the transfer of funds which is based on formal and standardised arrangements and common rules for the processing, clearing and/or settlement of payment transactions, and in particular a system of authorisation and settlement within the meaning of Article 2 point 17 of the Act on Electronic Payment Instruments of 12 September 2002 (Journal of Laws No. 169 item 1385, as amended 6) ), referred to hereinafter as the "Act on Electronic Payment Instruments", and a payment system within the meaning of Article 1 point 1 of the Act on Finality of Settlement in Payment Systems and Securities Settlement Systems and the Principles of Supervision of Such Systems of 24 August 2001 (Journal of Laws 2010 No. 112 item 743), referred to hereinafter as the Act on Finality of Settlement"; 28) means of distance communication means instruments which do not require the simultaneous presence of a provider and a user which may be used for the conclusion of a payment services contract; 29) payment transaction means an act initiated by a payer or by a payee of placing, transferring or withdrawing funds; 30) durable medium means any medium which enables the user to store information addressed to him in a way that makes it accessible for a period which is appropriate, given the purposes for which the information has been prepared, and which allows the unchanged reproduction of the information stored; 31) framework contract means a payment service contract which regulates the execution of individual payment transactions and which may contain regulations for the conduct of a payment account; 32) EU payment institution means a legal person to which the competent supervisory authorities have issued an authorisation to provide payment services; 33) unique identifier means a combination of letters, numbers or symbols specified by a provider for a user, which is supplied by one user in order to identify unambiguously the other user involved in a payment transaction or his payment account; 34) user means a natural person, a legal entity or an organisational unit that is not a legal person on which the law confers legal capacity who makes use of payment services either as payer or as payee; 35) competent supervisory authorities means authorities of Member States other than the Republic of Poland that are empowered by regulations in force in those States to issue authorisations for the performance of payment services by EU payment institutions;

4 36) payment instruction means a declaration directed by the payer or payee to its provider that contains an instruction to execute a payment transaction; 37) significant shareholding means shares in an amount: a) that means the possession by an entity directly or indirectly of at least 10% of the capital of another entity, b) that entitles the entity to exercise the rights derived from at least 10% of the votes in an organ of another entity, or c) giving other rights to the capital of an entity in such a way as to influence the management of its financial and operational policy. Article By payment services is meant activities consisting of: 1) accepting cash deposits into and making cash withdrawals from a payment account as well as all the operations required for the maintenance of an account; 2) execution of payment transactions, including transfer of funds to a payment account with the user s provider or with another provider: a) execution of direct debits, including one-off direct debits, b) execution of transactions through a payment card or similar payment instrument, and c) execution of transfers services, including standing orders; 3) execution of the payment transactions listed in point 2, where the funds made available to the user derive from credit, and in the case of a payment institution from a credit as spoken of in Article 74 paragraph 3; 4) the issuing of payment instruments; 5) the conclusion of contracts with businesses for the acceptance of payments using payment instruments; 6) the provision of money remittance services; and 7) execution of payment transactions where the consent of the payer to execute a transaction is given by means of any telecommunication, digital or IT device and the payment is transferred only to an intermediary between the user instructing the payment transaction and the payee. 2. Direct debit means a payment service consisting of debiting by a specified amount a payer s payment account so as to effect a payment transaction initiated by the payee which is executed on the basis of consent extended by the payer to the payee, the payee s provider or the payer's provider. 3. Money remittance means a payment service provided without the intermediation of a payment account maintained for the payer that consists of the transfer to the payee or to another provider accepting funds for the payee of funds received from the payer or consisting of the acceptance of funds for the payee and their release to the payee. Article Operations in the area of provision of payment services may be performed only by payment service providers, referred to hereinafter as "providers". 2. A provider may only be:

5 1) a domestic bank within the meaning of Article 4 paragraph 1 point 1 of the Banking Law; 2) a branch of a foreign bank within the meaning of Article. 4 paragraph 1 point 20 of the Banking Law; 3) a credit institution within the meaning of Article 4 paragraph 1 point 17 of the Banking Law or a branch of a credit institution within the meaning of Article 4 paragraph 1 point 18 of the Banking Law; 4) an electronic money institution within the meaning of Article 2 point 5 of the Act on Electronic Payment Instruments; 5) a branch of an entity that provides in a Member State other than the Republic of Poland, in accordance with the law of that state, postal payment services and is authorised in accordance with the law of that state to provide payment services and also Poczta Polska Spółka Akcyjna [the Polish Post Office] insofar as separate regulations authorise it to provide payment services; 6) a payment institution; 7) the European Central Bank, the National Bank of Poland, referred to hereinafter as the "NBP", and the central bank of another Member State if they are not acting in their capacity as monetary authority or organ of public administration; 8) an organ of public administration; 9) a cooperative savings and credit union or the National Cooperative Savings and Credit Union within the meaning of the Act on Cooperative Savings and Credit Unions of 14 December 1995 (Journal of Laws 1996 No. 1 item 2, as amended 7) ), referred to hereinafter as the "Act on Cooperative Savings and Credit Unions insofar as separate regulations authorise them to provide payment services, referred to hereinafter as "savings and credit unions ; 10) a payment service office. 3. Domestic payment institutions, payment service office, agents and branches of such entities, as well as savings and credit unions and their affiliates, are subject to registration in the registry of domestic payments institutions and other providers, referred to hereinafter as the register". 4. The expression "payment services" as description of business undertaken, including as part of a name (or brand) or in advertising, may be used only by payment service providers. 5. The only entities allowed to use in their name (or brand) the expressions 1) "payment institution" - are payment institutions; 2) "payment service office" are payment service offices. Article The regulations of the Act apply to payment services provided on the territory of the Republic of Poland or in commerce with other Member States. 2. The regulations of Parts I to III, with the exception of Article 59, and the regulations of Part IX shall apply only in cases where: 1) both the payer s provider and the payee s provider of or the sole provider in a payment transaction is engaged in business on the territory of the Republic of Poland or

6 2) one provider is engaged in business on the territory of the Republic of Poland and the second is engaged in business in another Member State. 3. The regulations of Parts I III and Part IX shall apply to payment services performed in euro, in Polish currency or in the currency of another Member State. 4. The regulations of the Act apply to the issue and use of the electronic payment instruments spoken of in the Act on Electronic Payment Instruments, in each currency. 5. In matters that are not regulated by the Act payment services shall be governed by the regulations of the Civil Code of 23 April 1964 (Journal of Laws 1996 No. 1 item 93, as amended), the Banking Law, the Act on Electronic Payment Instruments and the Act on Cooperative Savings and Credit Unions. Article 6. The regulations of the Act do not apply to: 1) payment transactions executed exclusively in cash directly between the payer and the payee; 2) payment transactions between the payer and the payee made through the intermediation of a person performing actions aimed at conclusion by the payer and the payee of a specified agreement or concluding such an agreement in the name of or on behalf of the payer or the payee; 3) transport of banknotes and coins, and in particular their reception, processing and delivery; 4) payment transactions carried out as part of the non-professional collection and delivery of cash in the course of unpaid activity, and in particular the collection and disbursement of cash in public fundraising activities; 5) services, under which the payee, at the payer s request, made before a payment transaction to make payment for purchased goods or services, as part of the payment transaction pays cash to the payer ( cash back" services); 6) the exchange of foreign currency cash into cash without the involvement of a payment account; 7) payment transactions based on one of the following documents in paper form issued to a provider with the objective of placing funds at the payee s disposal: a) a cheque issued in accordance with the Convention on a Uniform Act on Cheques (Journal of Laws 1937 No. 26 item 181), b) a cheque similar to the cheque spoken of in letter a which is subject to the regulations of Member States that are not parties to the convention referred to in letter a, c) a bill of exchange drawn in accordance with the Convention on a Uniform Law for Bills of Exchange and Loan Notes (Journal of Laws 1937 No. 26 item 175), d) a bill of exchange similar to the bill of exchange spoken of in letter c which is subject to the regulations of Member States that are not parties to the convention referred to in letter c, e), a mark of entitlement, including vouchers, f) a traveller s cheque, or g) a postal order within the meaning of the acts of the Universal Postal Union; 8) payment transactions executed within a payment system or a securities settlement system as spoken of in Article 4 1 point 2 of the Act on Finality of Settlement

7 executed through settlement agents, central counterparties, clearing houses, central banks, other system participants or providers, 9) payment transactions executed in connection with the servicing of financial instruments and rights derived from them, including dividends and other income, and transactions executed in connection with the sale or redemption of securities, in particular those executed by the entities listed in point 8 or by entities that are subject to supervision under the Act on Financial Market Supervision of 21 July 2006 (Journal of Laws No. 157 item 1119, as amended 9) ), referred to hereinafter as the "Act on Financial Market Supervision"; 10) services provided by technical service providers in support of the provision of payment services if they do not come into possession of the funds that are the subject of the payment transaction, and in particular data processing and storage services, trust services and protection of privacy, services of transferring information about a payment transaction between the payer and the payee, authentication of data and entities, provision of IT and communication networks, and the supply and maintenance of terminals and devices used in the provision of payment services; 11) services based on instruments that can be used: a) to purchase goods or services only in the premises of the issuers of such instruments or the premises of third-party entities that are linked to the issuer by a commercial contract other than a contract on the acceptance of payments made using payment instruments spoken of in Article 3 paragraph 1 point 5, b) within a limited network of service providers, or c) in relation to a limited range of goods or services; 12) payment transactions executed using telecommunication, digital or IT devices in which the goods or services purchased are supplied to a telecommunication, digital or IT device and are to be used with the device if the agent also provides other services, and, in particular, if the agent provides tools for access, distribution or searches; 13) payment transactions executed between providers, their agents or their branches for their own account; 14) payment transactions executed between a parent entity and a subsidiary or between subsidiaries of the same parent entity in which a provider belonging to the same group participates; 15) cash withdrawal services using ATMs provided by providers acting on behalf of one or more issuer of payment instruments that are not party to a framework contract with the person withdrawing the money from a payment account using an ATM if the providers do not provide other payment services; or 16) services performed exclusively with the use of paper passbooks where all transactions are recorded only in those books. Article Funds received by payment institutions and payment service offices from users in connection with the provision of payment services shall not constitute a deposit or other repayable funds within the meaning of Article 726 of the Civil Code of 23 April Payment institutions and payment service offices may not conduct the business of taking deposits or other repayable funds within the meaning of the Banking Law.

8 3. Funds placed in a payment account in a payment institution may not bear interest and may not bring any other benefits. Article The regulations of contracts for payment services may not be less beneficial to users than the regulations of the Act, unless the Act provides otherwise. 2. Regulations of contracts for payment services that are less favourable for the user than the regulations of the Act are invalid; in their place the relevant regulations of the Act shall apply. Article Arrangements for access to payment systems for providers should be determined according to objective, fair and proportionate criteria, and restrictions on access to these systems may not be larger than is necessary for protection against specific risks such as settlement risk, operational risk and business risk and for protection of the financial and operational stability of a payment system. 2. Payment systems may not introduce: 1) restrictions on effective participation in other payment systems; 2) rules that would introduce a differences in treatment between: a) the providers listed in Article 4 paragraph 2 points 1-8 or b) providers entered in the register that do not hold the authorisation spoken of in Article 60 paragraph 1; 3) limitations because of the type of entity or the legal form in which it conducts business. 3. The regulations of paragraphs 1 and 2 do not apply to: 1) payment systems within the meaning of Article 1 point 1 of the Act on the Finality of Settlement spoken of in Article 15 of this Act, 2) payment systems which involving only providers that belong to a group of entities that are linked by shareholdings in which one of the related entities exercises control over the other affiliated entities, or 3) payment systems in which the only provider who takes part as a single entity or as a group: a) acts or may act as a provider to both a payer and a payee, and bears exclusive responsibility for management of the system, and b) extends to other providers authorisations to participate in the system. 4. In the circumstances spoken of in paragraph 3 point 3 letter b, providers may not negotiate among themselves fees regarding the payment system but they may determine their own pricing regarding payers and payees. 5. Application of the principles specified in paragraphs 1 and 2 by an entity that intends to maintain a payment system within the meaning of the Act on Finality of Settlement or by an entity that already maintains such a system shall be assessed by the President of the NBP during proceedings for the issue of the consent spoken of in Article 16 paragraphs 1 and 3 of the Act on Finality of Settlement.

9 Article 10. Providers and operators of payment systems may process personal data to the extent necessary to prevent fraud associated with the execution of payment services or with the operation of a payment system and the investigation and detection of this type of fraud by the competent authorities, with the exception of the data spoken of in Article 27 paragraph 1 of the Act on Protection of Personal Data of 29 August 1997 (Journal of Laws 2002 No. 101 item 926 as amended 10) ) Article In their role as providers the following must maintain professional secrecy about the activities spoken of in Article 3 paragraph 1: 1) managers and other persons who belong to the statutory organs of a provider; 2) persons who are bound to a provider by an employment relationship; 3) persons or entities that are bound to a provider by an order or by another legal relationship of a similar nature, including agents of the provider and entities that execute certain actions on the basis of a contract as spoken of in Article 86 paragraph 1; and 4) persons or entities that are bound by employment, an order or another relationship of a similar nature to an entity that is in the relationship with a provider spoken of in point The obligation to maintain professional secrecy persists after the end of performance of the functions or the end of the legal relations spoken of in paragraph The obligation to maintain professional secrecy within the meaning of paragraph 1 shall cover information about the user in connection with payment services rendered to him or with a credit, as spoken of in Article 74 paragraph 3, granted to him, including identification of a user s payment account or the state of that account and also other information related to payment transactions and contracts concluded with the user if unauthorised disclosure of that information could cause damage to the legally protected interests of the user to whom the information relates. Article The professional secrecy obligation shall not be deemed to be breached by the disclosure of information covered by that obligation: 1) to an authority that is supervising or inspecting a provider in connection with actions undertaken in the field of supervision or inspection; 2) in the exercise of rights or obligations specified in separate regulations; 3) to other providers or users as part of the provision of payment services in accordance with a payment order that has been received or an agreement that has been concluded; and 4) at the express written consent of the user to whom the information relates. 2. The persons specified in paragraph 1 points 3 and 4 may use information they have collected only in accordance with the purpose for which it was provided. Article 13.

10 If separate regulations specify different rules for the protection of information that constitutes a professional secret in accordance with Article 11 paragraph 3 then those separate regulations apply to protection of the information. Article Supervision of the implementation by providers identified in Article 4 paragraph 2 points 1-5 and 9 of activities in the area of payment services in accordance with the Act, and of payment services in euro also in accordance with Regulation (EC) No 924/2009 of the European Parliament and Council of 16 September 2009 on Cross-border Payments in the Community and Repealing Regulation (EC) No 2560/2001 (Official Journal of the European Union L 226, 9 October 2009 p. 11) is exercised by the authorities competent to exercise of supervision over those entities. 2. Supervision of the implementation by providers identified in Article 4 paragraph 2 points 6 and 10 of activities in the area of payment services in accordance with the Act, and of payment services in euro also in accordance with Regulation (EC) No 924/2009 of the European Parliament and Council of 16 September 2009 on Cross-Border Payments in the Community and Repealing Regulation (EC) No 2560/2001, is exercised by the Polish Financial Supervision Authority, referred to hereinafter as the PFSA. Article A user may lodge a complaint with a supervisory authority against the behaviour of the provider or his agent, if that behaviour violates the law. 2. The entitlement spoken of in paragraph 1 shall apply also to individuals, legal persons and organisational units that are not legal persons on which the law confers legal capacity who have been refused the provision of payment services and also to consumer organisations. 3. The organ spoken of in paragraph 1, in replying to a complaint concerning a dispute under civil law, shall provide the complainant with information about non-judicial procedures for the resolution of disputes between a user and a provider and identifying the competent arbitration tribunals. 4. If it is not possible to determine which supervisory authority is relevant in relation to a particular provider a complaint shall be lodged directly with the provider, with the regulations of paragraph 3 applying mutatis mutandis. 5. The regulations of Part VIII of the Code of Administrative Procedure of 14 June 1960 (Journal of Laws 2000 No. 98, item 1071, as amended 11 ) shall not apply to the complaints spoken of in paragraphs 1-4. Part II Informational Obligations Regarding the Provision of Payment Services Section 1 General Provisions Article 16. A provider and a user who is not a consumer may agree that the regulations of this Part shall not apply in whole or in part.

11 Article A provider may not charge a user a fee for the provision of information required under the regulations of this Part. 2. A provider and a user may agree on fees for: 1) transfer at the user s request of information other than that required under the regulations of this Part, 2) a greater frequency of transfer of information than that required under the regulations of this Part, or 3) the provision of information required under the regulations of this Part by means of communication other than those specified in a framework contract. 3. If a provider, in accordance with paragraph 2, is entitled to collect fees for the transfer of information then those fees should reflect the amount of work required to provide information for which a fee is charged and the costs actually incurred by the provider. Article 18. The burden of proving compliance by the provider with the requirements for transfer to a user of information specified in the regulations of this Part lies with the provider. Article In the case of payment instruments which in accordance with a framework contract allow for the execution of individual payment transactions for an amount not exceeding the equivalent in Polish currency of EUR 30, or which have a limit on outgoings not exceeding the equivalent in Polish currency of EUR 150, or which are used for storing funds in an amount not exceeding at any time the equivalent in Polish currency of EUR 150 calculated using the mid exchange rate announced by the NBP that applies on the date of conclusion of the contract: 1) the provider shall supply the payer only with information about the main characteristics of the payment service and other basic information that is needed to make a decision, including: a) possible ways of using the payment instrument, b) the extent of the responsibility for the execution of services borne by the provider, c) the fees charged, and d) the place where one can easily access the information spoken of in Article 27; 2) the parties may agree that Article. 29 shall not apply, and that the provider shall have no obligation to propose amendments to the regulations of the framework contract in the manner specified in Article 26 paragraph 1; 3) the parties may agree that after execution of a payment transaction: a) the provider shall provide the user only with information that makes it possible to identify the payment transaction, its amount and the fees charged and in the case of several payment transactions of the same kind in which payment is made to the same payee with information about the total amount of the payment transactions and the fees charged for them, b) the provider shall not be obliged to disclose the information spoken of in letter a if the payment instrument is used anonymously or if for other reasons the

12 provider is not technically in a position to provide it; the provider shall ensure, however, that the payer is able to check the amount of funds held. 2. In the case of payment transactions specified in paragraph 1 that are executed entirely within the territory of the Republic of Poland the amounts that allow limitation of the informational obligations in accordance with paragraph 1 points 1-3 may be increased by 100% in a framework contract. 3. In relation to the prepaid payment instruments in the area of payment transactions spoken of in paragraph 1 that are performed in their entirety within the territory of the Republic of Poland the amounts that allow limitation of the informational obligations in accordance with paragraph 1 points 1-3 shall be the equivalent in Polish currency of EUR 500 as calculated by application of the mid exchange rate announced by the NBP that applies on the date of conclusion of the contract. Article If a payee requires payment of a fee or offers a reduction if a particular payment instrument is used then the payee must inform the payer of this prior to commencement of the payment transaction. 2. If the provider or another entity participating in the payment transaction requires fees for the use of a given payment instrument, then it is required to inform the user of this prior to commencement of the payment transaction. 3. In the event of failure to provide information about fees the payer or the user as appropriate is not obliged to pay them. In the event of failure to provide information about an offered discount the agreement is deemed to be concluded with the discount offered by the payee being taken into account. Section 2 Individual Payment Transactions Article 21. Where a payment order for a single payment transaction is transferred by a payment instrument covered by a framework contract the provider is not obliged to provide or make available information that the user has already received under a framework contract concluded with another provider or which he will receive on the basis of the framework contract. Article A provider must ensure that a user has easy access to the information spoken of in Article 23 paragraph 1 Article 24 and Article 25 and, at the request of the user must supply him with that information on paper or on another durable information medium. This information is to be expressed in a clear and readable manner. 2. The provider must make the information spoken of in Article 23 paragraph 1 available to the user when submitting proposals for the conclusion of a contract or when offering to execute a single payment transaction.if a contract for a single payment transaction has been concluded at the request of a user who makes use of means of communicating at a distance that do not allow the provider to fulfil this obligation then the provider shall fulfil this obligation without delay after the execution of the payment transaction. If a user requests provision of information in paper form or on another durable information

13 medium the provider shall implement this obligation without delay after execution of the payment transaction. 3. The provider may fulfil the obligation spoken of in paragraph 2 by providing, at least in electronic form, a model agreement for a single payment transaction or a form for a payment order that contains the information spoken of in Article 23 paragraph If the provider fails to meet the obligation spoken of in paragraph 1 or paragraph 2 the user shall be freed from the obligation to pay fees; the regulation of Article 52 paragraph 4 shall apply mutatis mutandis. Article A provider must make available to a user: 1) details of the information which must be supplied by the user so that a payment order can be properly executed, or information that is sufficient to provide a unique identifier; 2) information about the maximum time that execution of the payment service provided may take; 3) information about all and any fees due to the provider from the user, including details of the amounts of such fees; and 4) information about the exchange rate, including the reference exchange rate, which will be applied to a payment transaction if the payment transaction involves conversion of currency. 2. If the parties agree that the provider must make available to the user other information as well, including the information specified in Article 27, the provider must ensure that the user has easy access to that information. Article 24. Immediately after receipt of a payment order the payer s provider shall provide the payer with information: 1) that enables the payer to identify the payment transaction and with information about the payee; 2) about the amount of the payment transaction in the currency used in the payment order; 3) about any fees due from the payer in respect of the payment transaction, including a list of the amounts of such fees; 4) about the exchange rate used in the payment transaction by the payer s provider and the amount of the payment transaction after currency conversion if the payment transaction entailed conversion of currency; and 5) about the date on which the payment order was received. Article 25. After execution of a payment transaction the payee s provider shall provide the payee without delay with information: 1) that enables the payee to identify the payment transaction and, where appropriate, the payer, and all and any other information provided to the payee in connection with the execution of the payment transaction;

14 2) about the amount of the payment transaction in the currency in which funds are made available to the payee; 3) about all and any fees due from the payee in respect of the payment transaction, including where appropriate details of the amounts of such fees; 4) about the exchange rate used in the payment transaction by the payee s provider and the amount of the payment transaction before currency conversion if the payment transaction entails conversion of currency; and 5) about the value date used in crediting the account. Section 3 Framework Contract on Payment Service Article A provider must provide the user with the information specified in Article 27, Article 29 paragraphs 1 and 5, Article 31 paragraph 1 and Article 32 paragraph 1 on paper or on another durable information medium, but must send the information by only at the request of the user. The information should be formulated in a clear and readable manner. 2. The provider must provide the user with the information specified in Article 27 in good time before conclusion of a framework contract. With the user s consent the provider may execute this obligation by placing information on a website if the site makes possible access to the information for a period that is appropriate to the aims of provision of the information and allows reproduction in unaltered form of the information stored. 3. If a framework contract is concluded at the request of a user who makes use of means of communication at a distance the provider must provide the user with the information specified in Article 27 without delay after the conclusion of the framework contract, if it was not possible to deliver it within the period specified in paragraph The provider may fulfil the obligation spoken of in paragraphs 1, 2 or 3 in relation to provision of the information specified in Article 27 by providing a draft framework contract that contains the information. 5. The user may withdraw from a framework contract concluded in breach of the regulations of paragraphs 1-3 or 4 at any time but no later than 30 days after receipt of the information specified in Article 27 in the manner spoken of in paragraph The regulation of Article 22 paragraph 4 shall apply to individual payment transactions executed on the basis of the framework contract prior to fulfilment by the provider of the obligation specified in paragraphs 1-3 or paragraph 4. Article 27. A provider shall provide a user with the following information: 1) the forename and surname or company name (or brand) of the provider and his residential address and the address of his principal place of business, his address and, if use is being made of the services of an agent or of a branch in a Member State in which the payment service in question is offered, the address of the agent or branch, as well as any other addresses that are significant for the purposes of communication with the provider, including identification of all the places in which business is conducted, together with information about:

15 a) the authority that supervises the provider and about the registry, giving the number under which the provider is entered in that register, unless the provider is not subject to supervision regarding the provision of payment services or is not required to be entered in a register or b) the competent supervisory authority and the public register spoken of in Article 13 of Directive 2007/64/EC of the European Parliament and of the Council of 13 November 2007 on Payment Services in the Internal Market Amending Directives 97/7/EC, 2002/65/EC, 2005/60/EC and 2006/48/EC and Repealing Directive 97/5/EC (Official Journal of the European Union L 319 of 5 December 2007, p. 1, as amended), in which the provider is entered in another Member State, giving the number of the entry in that register, and the case of an EU payment institution, that of its agent or branch; 2) about the use of the payment service: a) a description of the most important features of the payment service provided, b) details of the information which must be supplied by the user so that a payment order can be properly executed or information that is sufficient to provide a unique identifier, c) specification of the manner and procedure for granting consent to execution of a payment transaction and for withdrawing such consent, as well for cancelling a payment order on the basis of Article 40 and Article 51, d) information about the time, which in accordance with Article 49 is considered to be the moment at which a payment order is received, e) information about the maximum time that execution of the payment service provided may take, and f) an indication of the limits on expenditure for payment transactions executed by means of a payment instrument spoken of in Article 41 paragraph 1; 3) about fees, interest rates and exchange rates: 3) information about all and any fees due to the provider from the user, including details of the amounts of such fees, b) information about interest rates, if applicable, or about exchange rates if a payment transaction involves conversion of currency, including underlying reference interest rates and reference exchange rates, and about how to calculate the actual level of interest and exchange rates, and c) if this has been agreed, information on the use without prior notice of altered levels of a reference interest rate or a reference exchange rate and on how information about such alteration is to be communicated in accordance with Article 29 paragraph 4; 4) about communication:: a) identification of the means of communication, including technical requirements on the part of the user, agreed by the parties for the communication of information or to making declarations in accordance with the Act, b) specification of the manner and frequency with which information required under the Act is made available, c) identification of the language or languages in which the framework contract is concluded and in which the parties are to communicate during the period that it is in force, and

16 d) information about the user s right to receive the regulations of the framework contract and information in accordance with Article 28; 5) about protective and repair measures: a) a description of the measures which should be taken by the user for safekeeping of a payment instrument and information about how the provider will make announcements in accordance with Article 42 paragraph 1 point 2, b) if this has been agreed, the conditions under which the provider reserves the right to block a payment instrument in accordance with Article 41, c) information about the payer s liability in accordance with Article 46 paragraphs 2-5, including information on the amount of a unauthorised payment transaction that is to be reimbursed, d) specification of the manner in which the user must notify the provider about cases of unauthorised or incorrectly executed payment transactions in accordance with Article 44 and indication of the time within which notification should be given as well as information about liability for unauthorised payment transactions on the basis of Article 46 paragraphs 1 and 2, e) information about the provider s liability for the execution of payment transactions on the basis of Article , and f) information about the conditions for obtaining, in accordance with Article 47 and Article 48, reimbursement of the amount of an authorised payment transaction initiated by the payee or through his intermediation which has already been executed; 6) about amendments to and termination of the framework contract: a) insofar as, in accordance with Article 29 paragraph 2, this has been agreed, information that if, before the proposed date of entry into force of amendments to the framework contract, the user does not notify the provider of his opposition to the changes, the user is deemed to have expressed his consent to them, b) information about the period for which the framework contract will be in force, and c) information about the user s right to terminate the framework contract and other arrangements relating to the termination of the contract in accordance with Article 29 paragraphs 1 and 2 and Articles 35 and 37; 7) about procedures for the resolution of disputes: a) information about all and any contractual clauses that apply to the framework contract, and in particular about those that concern governing law and competent court, and b) information about non-judicial procedures for lodging the complaints spoken of in Article 15 and about non-judicial procedures available to the user for resolution of disputes. Article During the period that a framework contract is in force, the user has the right to require delivery to him of the regulations of the contract and the information specified in Article 27 on paper or on another durable information medium. With the user s consent, this information may be supplied by ; the regulation of Article 26 paragraph 2 second sentence shall apply mutatis mutandis.

17 2. Subject to the reservation of Article 17 paragraph 2, during the period for which the framework contract is in force the provider shall, at any time that he is requested to do so by the user, supply him in a mutually agreed manner with information about the payment account and payment transactions executed. Article A provider shall provide information about proposed amendments to contractual regulations no later than two months before the date on which it is proposed that they should come into effect. 2. If the framework contract provides that failure of the user to declare his objection to proposed amendments is deemed to be equivalent to an expression of consent to them, then the provider when providing information about the changes spoken of in paragraph 1 must inform the user that: 1) if prior to the proposed date of entry into force of the amendments the user does not declare his opposition to the amendments the user is deemed to have expressed his consent to them; 2) the user has the right, prior to the date on which it is proposed that the amendments should enter into force, to terminate the framework contract with immediate effect without incurring any charges; and 3) if the user declares his opposition in accordance with point 1 but fails to terminate the framework contract, the agreement will expire on the day before the entry into force of the proposed amendments, without any charges being incurred. 3. The regulation of Article 26 paragraph 1 shall apply mutatis mutandis to the provision of information in accordance with paragraph Changes may be made to interest rates or exchange rates without prior notice, provided that they are favourable to users or: 1) the framework contract provides for this and 2) the changes are the result of changes to reference interest rates or reference exchange rates the use of which is provided for by the framework contract. 5. The provider shall inform the user about changes to the interest rate without undue delay, unless the framework contract specifies a fixed frequency or manner of delivery of or making available information about changes in interest rates. 6. The provider may not discriminate against individual users for any reason when making changes to the interest rates or exchange rates used in payment transactions. Article 30. In the case of an individual payment transaction executed under a framework contract and initiated by the payer, the provider, before execution of an individual payment transaction at the payer s request and with respect to the particular payment transaction, shall supply accurate information about the maximum period its execution may take and the fees payable by the payer, including a list of the amounts of all and any fees. Article After debiting a payer's payment amount by the amount of an individual payment transaction and, if the payer does not use a payment account, after receiving a payment order, the payer s provider must provide the payer immediately with information:

18 1) that makes it possible to identify the payment transaction and where appropriate the payee; 2) about the amount of the payment transaction in the currency in which the payer's payment account was debited or in the currency in which the payment order was made; 3) the amount of all and any fees for the payment transaction and, where appropriate, details of them or information about interest due from the payer; 4) about the exchange rate used in the payment transaction by the payer s provider and the amount of the payment transaction after currency conversion if the payment transaction entailed conversion of currency; and 5) about the value date used in debiting the account or the date of receipt of the payment order. 2. The parties may agree in the framework contract that the information spoken of in paragraph 1 is to be supplied by the payer s provider periodically at intervals of no more than a month, in a mutually agreed manner that makes it possible for the payer to store and recover the information in its original state. Article After execution of an individual payment transaction the payee s provider must provide the payee immediately with information: 1) that makes it possible for the payee to identify the payment transaction and, where appropriate, the payer and also all and any other information provided to the payee in connection with execution of the payment transaction; 2) about the amount of the payment transaction in the currency in which the payee s payment account was credited; 3) about the amount of all and any fees for the payment transaction and, where appropriate, details of them or information about interest due from the payee; 4) about the exchange rate used in the payment transaction by the payee s provider and the amount of the payment transaction before currency conversion if the payment transaction entailed conversion of currency; and 5) about the value date used in crediting the account. 2. The parties may agree in the framework contract that the information spoken of in paragraph 1 is to be supplied by the payee s provider periodically at intervals of no more than a month, in a mutually agreed manner that makes it possible for the payee to store and recover the information in its original state. Part III Rights and Responsibilities Regarding the Provision of Payment Services and Making Use of Them Section 1 General Provisions Article 33.

19 A provider and a user who is not a consumer may agree that the regulations of Article 34-37, Article 40 paragraphs 3 and 4, Article 45, Article 46 paragraphs 2-5, Article 47, Article 48, Article 51 and Articles shall not apply in whole or in part and may agree on a period for notifying the provider of unauthorised, unexecuted or improperly executed transactions other than that specified in Article 44 paragraph 2. Article 34. Payments shall be made in the currency mutually agreed by the provider and the user. Article A user may terminate a framework contract at any time with immediate effect, unless the framework contract provides for a period of notice. The contractual period of notice may not exceed one month. 2. A provider may terminate a framework contract concluded for an indefinite period by giving at least two months' notice; the regulation of Article 26 paragraph 1 shall apply mutatis mutandis. Article A provider may not collect from a user fees for the provision of information and the application of the security and repair measures spoken of in the regulations of this Part apart from the fees spoken of in Article 50 paragraph 3 and Article 51 paragraph The amount and basis for charging the fees spoken of in Article 50 paragraph 3 and Article 51 paragraph 6 should be mutually agreed between the user and the provider and should take into account both the amount of work required to execute a service for which a fee is charged and the costs actually borne by the provider. Article 37. Fees charged for the provision of payment services that are collected periodically shall be due to provider only for the period during which a framework contract is in force. Fees paid in advance shall be reimbursed proportionally. Article 38. If a payment transaction does not entail conversion of currency the payer and the payee shall pay the fees specified in the agreement that each of them has concluded with his provider. Article In the case of payment instruments which, in accordance with a framework contract permit the execution of individual payment transactions for an amount not exceeding the equivalent in Polish currency of EUR 30 or which have a spending limit amounting to the equivalent in Polish currency of EUR 150 euros, or which are used for storing of funds in an amount not exceeding at any time the equivalent in Polish currency of EUR 150, calculated using the mid exchange rate announced by the NBP that applies on the date of conclusion of the contract, the provider and the user may agree that: 1) the regulations of Article 42 paragraph 1 point 2, Article 43 paragraph 1 points 3 5 and Article 46 paragraphs 4 and 5 shall not apply if the payment instrument cannot be blocked or its further use prevented in some other way;

20 2) the regulations of Article 45 and Article 46 paragraphs 1-3 shall not apply if the payment instrument is used anonymously or if the provider for other reasons that are intrinsic to the payment instrument is not in a position to prove that the transaction was authorised 3) the provider shall not be required to notify the user of refusal to execute a payment order, if it is clear from the circumstances that the order has not been executed; in this case the regulations of Article 50 paragraphs 1-3 shall not apply; 4) the payer may not revoke a payment order after transfer to the payee of the payment order or if the payee has given his consent to execution of the payment transaction; in this case, the regulation of Article 51 shall not apply; and 5) the periods for crediting the payee s provider s account with the amount of the payment transaction and for the payee s provider s placing the amount of the transaction at the payee s disposal specified in Article 54, Article 56 and Article 57 shall not apply. 2. In the case of payment transactions that are executed entirely within the territory of the Republic of Poland the amount specified in paragraph 1 may be increased in the framework contract by 100%. 3. In relation to prepaid payment instruments used in payment transactions performed in their entirety within the territory of the Republic of Poland the amounts spoken of in paragraph 1 amount to the equivalent in Polish currency of EUR 500 as calculated by application of the mid exchange rate announced by the NBP that applies on the date of conclusion of the agreement. Section 2 Authorisation of Payment Transactions Article A payment transaction is deemed to be authorised if the payer has expressed his consent, in the manner provided for in the contract between the payer and his provider, to execution of the payment transaction. This consent may also apply to a series of payment transactions. 2. Permission should be granted by the payer prior to execution of a payment transaction or a series of payment transactions, unless the payer and his provider have agreed that consent may also be granted after their execution. 3. The payer may withdraw consent at any time, but no later than the point at which, in accordance with Article 51, the payment order becomes irrevocable. 4. If the agreement relates to a series of payment transactions, the payer, when withdrawing his consent, may stipulate that the withdrawal affects all payment transactions that have not yet been executed. Article If a specified payment instrument is used to express consent, the payer and his provider may agree on limits on outgoings for payment transactions executed using this payment instrument. 2. In a framework contract the provider may reserve the right to block a payment instrument: 1) for justified reasons connected with the security of a payment instrument,

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