Description of Payment Services

Transcription

1 Description of Payment Services Effective as of 28 February 2013

2 1) Sberbank CZ, a.s., having its registered office at Na Pankráci 1724/129, Prague 4, Company ID No , registered in the Commercial Register with the Municipal Court in Prague, Section B, Insert No (the Bank), hereby provides information to the Client in the extent required by law pursuant to the provisions of 80 to 85 of Act No. 284/2009 Sb., on Payment Services, as subsequently amended. 2) This document contains in particular a description of noncash domestic and foreign payments and a description of cash payments. Whenever the text utilizes terms written in capital letters, these are used with the meanings defined within the General Business Terms and Conditions. Part I. Foreign Payment Services 1.1. General provisions description of payment services Foreign payments comprise a very widely used payment instrument designed for all Clients especially for non-cash transfer of funds at the initiative of one client of one bank by crediting the account of another client at another or at the same bank. The Bank executes payments in those currencies listed in its Exchange Rate List. Payments are made via the SWIFT (Society for Worldwide Interbank Financial Telecommunication) network and settled via correspondent banks, the Bank s accounting system, and the CERTIS system. Included within foreign payment services, the Bank executes: incoming payments in the forms of a) payments from foreign banks without regard to the currency of the payment transaction, b) payments from domestic banks in currencies other than CZK, c) payments in CZK from domestic banks directed to a Client s account maintained in a currency other than CZK, d) payments between accounts maintained by the Bank when at least one of the accounts is maintained in a currency other than CZK. one-time or standing outgoing payments, in the forms of a) payments to foreign banks regardless of the currency of the payment transaction, b) payments to other domestic banks in a currency other than CZK, c) payments in CZK to other domestic banks from accounts within the Bank maintained in a currency other than CZK, d) payments between accounts maintained by the Bank when at least one of the accounts is maintained in a currency other than CZK. A standing payment is a payment repeatedly executed to the same recipient in the same amount based upon a one-time request submitted by the Client. A request to establish a standing order must be submitted no later than by of the second banking day preceding the requested payment date Unique identifier A unique identifier is a combination of letters, numerals and symbols uniquely identifying a given account when executing payment transactions. Without specifying the unique identifier, a payment order cannot be executed. In the case of foreign payment services, the unique identifier is the bank information in the format of: IBAN and BIC, or account number and BIC, or account number and bank routing code. IBAN (International Bank Account Number) is an international format for a bank account number. It is used for uniquely identifying an account, the country where the account is maintained, and the bank code. All contracting states of the Agreement on the European Economic Area (the EEA countries) and also certain additional countries (see the table IBAN Examples) have their own established IBAN structures containing a maximum of 34 characters (in combinations of numerals and letters), each of which has its specific meaning. The structure of an IBAN is as follows: 2 characters country code in ISO format (e.g. CZ for the Czech Republic), 2 characters control numbers which are variable, all other characters (max. 30) contain the bank code and account number. BIC (Bank Identifier Code), also known as the SWIFT code, is valid worldwide and it unambiguously identifies each bank. The BIC consists of 8 characters (bank headquarters) or 11 characters (bank branch). The BIC of Sberbank CZ, a.s. is VBOECZ2X. A statement for an account opened and maintained by the Bank always includes the IBAN and BIC. You can find more information on IBAN and BIC also at the Bank s website as well as at and and on the notice boards at all of the Bank s branches Times for the Bank to execute foreign payment orders Clients may submit written foreign payment orders at any time during the business hours of the appropriate branch (see branch business hours on the Bank s website or on the Bank s notice boards). Clients may submit foreign payment orders electronically 7 days a week, 24 hours a day. Times for crediting/debiting foreign payments are stated in the General Business Terms and Conditions. A foreign payment order will be executed by the Bank in the established period only on the condition that the time of accepting the payment order occurred within the cut-off time. These periods are defined in the General Business Terms and Conditions. The maximum time for crediting a foreign payment to a recipient s account is up to 4 business days after debiting the funds from the payer s account. In the case of transfers within the Bank, it is no later than on the day of debiting the funds from the payer s account. 1.4 Conditions for the Bank to execute foreign payment orders The Bank will execute a foreign payment order only if all conditions stipulated by the Bank in the General Business Terms and Conditions are fulfilled. The given conditions are described in more detail herein. If any condition for executing a payment order is not fulfilled, the Bank will decline to execute it. More details concerning the decision to decline a payment order are defined in the General Business Terms and Conditions. Effective as of 28 February 2013 Page 01 of 06

3 1.4.1 Obligation to submit foreign payment orders on the Bank s standard form One-time written foreign payment orders must always be submitted on the Bank s standard form, unless otherwise agreed with the Client. The Bank accepts these standard forms: for payments to a foreign bank in a currency other than CZK, the form designated Foreign Payment Order, for payments to another domestic bank in a currency other than CZK, the form designated Foreign Payment Order, for payments in CZK to another domestic bank from a client s account maintained by the Bank in a currency other than CZK, the form designated Payment Order, for payments between accounts maintained in the Bank when at least one of the accounts is maintained in a currency other than CZK, the form designated Payment Order. A written standing foreign payment order must be submitted on the Bank s form which the Client receives from the Bank when establishing, changing or discontinuing a standing payment order. Electronic foreign payment orders must be submitted through the appropriate electronic banking application agreed with the Bank by a special contract on electronic communication using the forms prescribed therein for such payment order Methods of submitting payment orders to the Bank Written standing foreign payment orders may be submitted to the Bank: a) in person at any branch of the Bank in written form, b) electronically in the form of a text message (Sberbank Online Banking, Homebanking) stating all the mandatory particulars of such order. Other foreign payment orders may be submitted to the Bank: a) in person at any branch of the Bank, b) through a postal licence holder while stating the dispatch code, the use of which must be agreed with the Bank by means of a special contract, c) by fax stating the dispatch code, the use of which must be agreed with the Bank by means of a special contract, d) electronically using the appropriate electronic banking application (Sberbank Online Banking, Homebanking, Multicash), the use of which must be agreed with the Bank by means of a special contract on electronic communication Particulars of the payment order A payment order is duly completed if it conforms to all the requisites agreed with the Bank, and in particular if it has all mandatory particulars for a payment order legibly filled in. Mandatory particulars of foreign payment orders are defined as follow: bank information of the payer (10 characters) and payer s bank code (4 characters), bank information of the recipient in IBAN* format (max. 34 characters), most commonly for payments to EEA countries, or account number in another format, most commonly for payments into countries outside the EEA, BIC or routing code (e.g. SC, FW, ABA) of the recipient s bank, name and address of the payer, payment currency (3 characters according to the ISO standard), only for currencies stated in the Bank s Exchange Rate List, payment amount stated in numerals (max. 12 numeric characters + 2 characters for decimals), and in the case of written orders also stated in words, recipient s name, name and registered office of recipient s bank (max characters), purpose of payment (max characters), method of paying fees (SHA: payer and recipient each pay the fees of their own banks and potentially of the intermediary bank; OUR: all fees paid by the payer; BEN: all fees paid by the recipient), method of executing the payment order (indicate one of the following options: standard / urgent / by cheque), signature according to the valid signature specimen, including a stamp if so stated in the signature specimen, and other requirements if appropriate, security code or dispatch code, if so agreed. A foreign payment order may also contain the following non- -mandatory particulars: payment date (no later than 90 days after the day of submitting the payment order to the Bank), place and date of the payment order s issue, and instructions for the bank. For more information, see the Foreign Payment Order leaflet at the website Use of exchange rates for payments with currency conversion When converting currencies, the Bank uses exchange rates in accordance with the provisions of Part Four, Chapter I, Article VI of the General Business Terms and Conditions. The Bank is entitled unilaterally to change the exchange rates under the conditions stipulated in the aforementioned provisions of the General Business Terms and Conditions. Examples of using exchange rates: Outgoing payment in a foreign currency from an account maintained in CZK transfer sell rate of the foreign currency. Outgoing payment in CZK from an account maintained in a foreign currency transfer buy rate of the foreign currency. Outgoing payment in a foreign currency (e.g. USD) from an account maintained in another foreign currency (e.g. EUR) transfer buy rate of the account currency [EUR] and cheque sell rate of the payment currency [USD]. Incoming payment in a foreign currency to an account maintained in CZK transfer buy rate of the foreign currency. Incoming payment in CZK to an account maintained in a foreign currency transfer sell rate of the foreign currency. Effective as of 28 February 2013 Page 02 of 06

4 Incoming payment in a foreign currency (e.g. USD) to an account maintained in another foreign currency (e.g. EUR) transfer buy rate of the payment currency [USD] and cheque sell rate of the account currency [EUR] Information on an executed payment The Bank informs the Client about executed payments in the account statement and in a separate notice (debit or credit advice for the account). Part II. Domestic Non-cash Payment Services 2.1. General provisions description of payment services Domestic payment services are executed in the domestic currency and within the territory of the Czech Republic. Interbank payments are made via the Settlement Centre of the Czech National Bank, while transfers within the Bank are executed in the Bank s accounting system. Domestic payment services are intended for use by all clients for non-cash transfer of funds. This is a transfer of funds that is initiated by the payer or the recipient. Included within domestic payment services, the Bank executes: incoming payments in the forms of payments from accounts of clients of the Bank or other domestic banks, payments of direct debits from accounts of clients of the Bank or other domestic banks, one-time or standing outgoing payments in the forms of payments to accounts of clients of the Bank or other domestic banks, payments of direct debits to accounts of Clients of the Bank or other domestic banks, standing payments payments repeatedly executed to the same recipient in the same amount based upon a onetime request submitted by the Client at any of the Bank s points of sale or via electronic communication with the Bank (if the appropriate electronic banking application so allows), direct debit orders The Client submits a direct debit order to the Bank, which does not inquire as to a justification for use of this payment form. The Bank confirms that bank constant symbols 5, 6, 51, 1178, 2178, or 3178 are not stated (payment orders with these constant symbols will be returned to the Client by the Bank) and will hand the processed direct debit order over to the bank of the payer. On the basis of the direct debit order received, the payer s bank will examine the legitimacy of the order. If the conditions for execution are satisfied, the payer s bank will debit the direct debit amount from the payer s account and will process the crediting of the amount to the recipient s account. If the Bank does not accept the direct debit request, it will send non-accounting information to the recipient s bank. The Client can submit a direct debit order at the Bank s points of sale or via electronic communication with the Bank, direct debit authorization By means of a direct debit authorization, the Client gives consent to its bank for executing a direct debit to be credited to the recipient. The Client submits the direct debit authorization on the pre- scribed form or via an electronic request in an electronic banking application (Sberbank Online Banking, Homebanking). In its request, the Client will state the bank information of the recipient with whom he or she agreed upon using the direct debit form of payment and will enter a limit establishing the expected direct debit amount. The Bank accepts the direct debit if it is authorized and within the limit set by the Client, SIPO payments (SIPO is the acronym for the Czech term Soustředěné inkaso plateb obyvatelstva, which loosely translates as centralized direct debit for settling household payments ) comprise a form of multiple direct debiting for several recipients executed via VAKUS Czech Post. SIPO is used, for example, in making payments for rent, electricity, natural gas, radio and television fees, telecommunications, and newspaper and magazine subscriptions. The Client may submit an order for establishing non-cash SIPO payments at any of the Bank s points of sale or via one of the electronic banking applications (Sberbank Online Banking, Homebanking), stating the debit limit and connection number received from VAKUS. Multiple payment is a set of several payment orders submitted to the Bank concurrently as a whole Unique identifier A unique identifier is a combination of letters, numerals and symbols uniquely identifying a given account when executing payment transactions. Without specifying the unique identifier, a payment order cannot be executed. In the case of domestic payment services, the unique identifier is the bank information in the format of the account number and bank code Times for the Bank to execute payment orders Clients may submit domestic payment orders at any time during the business hours of the Bank s respective points of sale (see branch business hours on the Bank s website Clients may submit domestic payment orders electronically 7 days a week, 24 hours a day. Times for crediting/debiting domestic payments are stated in the General Business Terms and Conditions. A domestic payment order will be executed by the Bank in the established period only on the condition that the time of accepting the payment order occurred within the cut-off time. These periods are defined in the General Business Terms and Conditions. The maximum period for crediting a domestic payment to the recipient s account is the second banking business day after debiting the funds from the payer s account. In the case of transfers within the Bank, it is no later than on the day of debiting the funds from the payer s account. The Client may submit a request to establish, change or discontinue a standing payment order at any of the Bank s points of sale at any time during its business hours or by means of electronic communication with the Bank daily until 17.00, doing so no later than two banking business days before the requested payment date. The Client may submit a request to establish, change or discontinue a direct debit authorization at any of the Bank s branches at any time during its business hours or by means of electronic communication with the Bank daily until 17.00, doing so no later than two banking business days before the requested payment date. Effective as of 28 February 2013 Page 03 of 06

5 2.4. Conditions for the Bank to execute domestic payment orders The Bank will execute a domestic payment order only if all conditions stipulated by the Bank in the General Business Terms and Conditions are fulfilled. The given conditions are described in more detail herein. If any condition for executing a payment order is not fulfilled, the Bank will decline to execute it. More details concerning the decision to decline a payment order are defined in the General Business Terms and Conditions Obligation to submit domestic payment orders on the Bank s standard form One-time payment orders must be submitted by the Client on the standard paper form issued by the Bank, unless otherwise agreed with the Client. Standard forms are available at all the Bank s points of sale. Prescribed forms: Payment order designated for a single payment. Multiple payment order for a minimum of 2 and maximum of 9 payments. Direct debit order designated for a single direct debit request. Electronic domestic payment orders must be submitted through the appropriate electronic banking application agreed with the Bank by a special contract on electronic communication using the forms prescribed therein for such payment order Methods of submitting payment orders to the Bank a) In person at a bank counter, b) Through a postal licence holder while stating the dispatch code, the use of which must be agreed with the Bank by means of a special contract, c) By fax stating the dispatch code, the use of which must be agreed with the Bank, d) Electronically using the appropriate electronic banking application (Sberbank Online Banking, Homebanking, Multicash). Standing orders are submitted by the Client on the form prescribed by the Bank at any of the Bank s points of sale or through electronic banking applications (Sberbank Online Banking, Homebanking) Particulars of the payment order A payment order is duly completed if it conforms to all the requisites agreed with the Bank, and in particular if it has all the mandatory particulars for a payment order legibly filled in. Mandatory particulars of domestic payment orders are defined as follow: bank information of the payer, consisting of the prefix (2 6 numeric characters) + account number (2 10 numeric characters) + bank code (4 numeric characters), payment currency, which, if not stated, is assumed to be CZK (3 characters according to the ISO standard), payment amount stated in numerals (max. 12 numeric characters + 2 characters for decimals), total amount on the multiple payment order (max. 12 numeric characters + 2 characters for decimals), bank information of the recipient, consisting of the prefix (2 6 numeric characters) + account number (2 10 numeric characters) + bank code (4 numeric characters), constant symbol (max. 10 numeric characters), if the payment is an expenditure or revenue of the state budget or as established by special legislation (Decree of the CNB No. 514/2002 Sb.) non-permitted constant symbols are 5, 6, 51, 1178, 2178, 3178, signature according to the valid signature specimen, including a stamp if so stated in the signature specimen, and other requirements if appropriate, security code or dispatch code, if so agreed. Non-mandatory particulars: variable symbol (max. 10 numeric characters), specific symbol (max. 10 numeric characters), date and place of issue, payment date (no later than 90 days after the day of submitting the payment order to the Bank), message for the recipient (max characters), wherein the letters and numbers on the standard form are to be filled in from left to right. The text is transferred to the recipient s account statement. 2.5 Conditions for executing SIPO payments 1. SIPO non-cash payments may be established and changed always only up to the 24th day of the month (if the 24th day is not a business day, then the last day for executing changes is the preceding banking business day). If the Client submits a request before this date, such change is effective from the following month. If the Client submits a change after this date, the change is effective only from the second following month. 2. A SIPO non-cash payment is debited from the Client s account on the banking business day preceding the date when it is due at Czech Post VAKUS, which is established as the 15th day of the month. If the 15th day is not a business day, then the payment date is the nearest preceding banking business day. In accordance with this condition, the Bank debits funds from the Client s account between the 11th and 14th day of the month. 3. The Bank executes settlement of a SIPO non-cash payment only if there are sufficient funds on the Client s account for executing all SIPO payments in the full amount. 4. The Bank executes SIPO non-cash payments up to the maximum limit amount designated by the Client. 5. The Bank does not execute partial SIPO non-cash payments. 6. If a SIPO non-cash payment is not executed (due to insufficient funds for the SIPO payment or exceeding of the limit), the Czech Post VAKUS will send to the Client s address a postal order for cash payment. The Client will then make the SIPO payment in cash at a post office. 7. The Bank is not responsible for delay in SIPO payments caused by actions or neglect of the Client. Effective as of 28 February 2013 Page 04 of 06

6 Part III. Cash Payment Services 3.1. General provisions description of payment services The Bank executes cash payment services: a) by accepting cash for deposit at its counters, b) by providing cash withdrawals at its counters. A cash deposit to an account is a deposit of funds to an account maintained by the Bank and executed by the account owner s or another person s depositing cash at the Bank s counter. The deposit can be made in CZK or in a foreign currency included in the Bank s Exchange Rate List. Cash deposit is also possible on the basis of a special agreement concluded with the Bank via an after-hours depository. When depositing cash, the Client states the account number to which he or she is making the deposit and the deposit amount, or he or she presents a breakdown of cash, states the variable symbol for identifying the payment, and proves his or her identity. The depositor will receive a receipt confirming that the deposit was made and will confirm the correctness of the executed transaction by signing that receipt. A cash withdrawal from an account is a withdrawal of funds from an account maintained by the Bank by the account owner or other authorized person at the Bank s counter up to the amount of the disposable balance on the account. The withdrawal can be made in CZK or in a foreign currency included in the Bank s Exchange Rate List. When withdrawing cash, the Client states the number of the account from which he or she wishes to withdraw and the amount, or he or she presents a breakdown of the cash, states the variable symbol for identifying the payment, and proves his or her identity. The Client is obliged to confirm receiving the amount by signing the receipt with a signature identical to that on the signature specimen and, as the case may require, by marking with a stamp or other indication, or by using a password if so agreed. When withdrawing cash, the requested composition of the cash provided can be changed. A cash withdrawal may also be executed by an authorized person on the basis of a special power of attorney granted by the account owner, whose signature has been officially verified or if that power of attorney was granted in the presence of an employee of the Bank Times for depositing and withdrawing cash Cash deposits and withdrawals are executed at the Bank s branches where cash operations are conducted during their business hours. In the case of using an after-hours depository, deposits also may be made outside of business hours Times for executing cash operations Cash deposits and withdrawals will be credited/debited to/from an account immediately upon receipt of a payment order. Deposits and withdrawals made on non-banking business days will be credited/debited to/from the account on the following banking business day. If cash is deposited using an after-hours depository, the funds are received only at the time when the Bank collects cash from the after-hours depository. The time of crediting the funds to the account is also the value day. The period for collecting cash from an after-hours depository is agreed in a separate contract concluded between the Bank and the Client. Part IV. General Provisions 4.1. Claims Without undue delay, the Client is to check in the account statement (information on executed transactions) whether the executed payment transactions are authorized and correctly credited/debited. If he or she finds inconsistencies in crediting/ debiting of a payment transaction, he or she should demonstrably file a claim in regard to the transaction, doing so without undue delay after detecting it, but no later than 13 (thirteen) months after debiting of funds from the account. The procedure when filing claims is governed by the Claims Code, which is available in the business premises at all of the Bank s points of sale as well as on the Bank s website Information on fees Fees for the provision of payment services are charged in the cases and under the conditions defined in the List of Fees Information on the Bank s responsibility for incorrectly executed payment transactions 1. The Bank is responsible to the payer for an incorrectly executed payment transaction, unless it proves to the payer and, where applicable, to the recipient s provider that the amount of the incorrectly executed payment transaction was credited in a due and timely manner to the account of the recipient s provider. If the payer s provider is not responsible to the payer for an incorrectly executed payment transaction, then the recipient s provider is responsible for it to the recipient. 2. If the payer s provider is responsible to the payer for an incorrectly executed payment transaction and the payer will notify it that he or she does not insist on executing the payment transaction, then the payer s provider will without delay a) bring the payment account from which the amount of the payment transaction was debited to the state in which it would have been had the incorrect execution of the payment transaction not occurred, or b) make the amount of the incorrectly executed payment transaction available to the payer, if the method in letter a) is out of the question. 3. The method stated in paragraph 2 will only be applied in relation to the amount of an incorrectly executed payment transaction which was not credited to the account of the receiver s provider before the payer announced to his or her provider that he or she no longer insisted upon the execution of the payment transaction, and on the condition that the payer s provider will document this crediting to the payer and where applicable also to the recipient s provider. 4. If the payer s provider is responsible to the payer for an incorrectly executed payment transaction and the payer does not inform it that he or she no longer insists on execution of the payment transaction, then the payer s provider will without delay ensure the crediting of the amount of the incorrectly executed transaction to the account of the recipient s provider. 5. If the recipient s provider is responsible to the recipient for an incorrectly executed payment transaction, the recipient s provider will without delay Effective as of 28 February 2013 Page 05 of 06

7 a) bring the recipient s payment account to the state in which it would have been had the incorrect execution of the payment transaction not occurred, or b) make the amount of the incorrectly executed payment transaction available to the recipient, if the method in letter a) is out of the question. 6. In case of a payment transaction that is initiated by the recipient, paragraphs 1 to 5 will not apply if the recipient s provider did not fulfil the obligation to transfer the payment order to the payer s provider in a due and timely manner. At the recipient s request, the recipient s provider will document whether it fulfilled this obligation Information on the conditions of corrective settlement 1. If a bank within the territory of the Czech Republic did not credit/debit an amount in CZK or did not use the bank information according to a client s order or it executed multiple crediting/debiting of a single payment and thus caused an error in settlement, it is obliged to correct this error by corrective settlement. Such bank is obliged without delay to transfer to the account of the authorized recipient the funds in the correct amount along with interest ensuing by contract for the period when the funds were not available. The interest is not transferred if it does not exceed the amount of CZK 10, unless the authorized recipient explicitly requests its return. Corrective settlement by debiting an amount from the account of an unauthorized recipient can be executed within 3 months from the day that an error in settlement occurs. If the account of the unauthorized recipient of the erroneously settled payment is maintained by another bank, then the bank which caused the error is entitled to request the maintaining bank to debit the amount from that client s account. 2. While upholding the principles defined in paragraph 1, the bank which maintains the account of the unauthorized recipient of an erroneously settled payment is authorized to debit from such account the amount of the corrective settlement and to recalculate the interest on those funds so that the account reflects the state as if the erroneously settled payment had not been received. If the settlement error was caused by another bank, then it is obliged to debit the funds from such account based on a request of such bank to do so and to transfer the funds to such bank Other provisions 1. During the validity of the Payment Services Agreement, communication between the Client and the Bank will be conducted in Czech, unless agreed otherwise. 2. The Payment Services Agreement is concluded for an indefinite period, unless agreed otherwise. 3. Through the duration of the Payment Services Agreement, the Bank is obliged to provide the Client at his or her request the content of such Agreement and also other information stated in the provisions of 81 to 85 of Act No. 284/2009 Sb., on Payment Services, as subsequently amended. Effective as of 28 February 2013 Page 06 of 06