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Procedure for transferring a payment account

Acts performed by the receiving payment service provider and deadlines/time limits related thereto

  1. Receipt of a request for account transfer in two copies in paper form which is made in the Slovak language and delivered in person or by post; if the request is sent by post, the consumer’s signatures must be officially authenticated.
  2. Sending an invitation to the consumer to complete the request for account transfer in the event that the request is incomplete or not duly completed; the consumer shall complete the request within ten working days from receipt of such invitation.
  3. Rejection of a request for account transfer, if the consumer fails to complete the request for account transfer within the time limit specified in paragraph 2 above and notifying the consumer of the reasons for the rejection of the transfer of his/her payment account without delay.
  4. Informing the transferring payment service provider of the invitation to complete the request under paragraph 2 above, if the invitation to complete the request is sent to the consumer after the request for account transfer has been sent to the transferring payment service provider.
  5. Notifying the transferring payment service provider of the date of delivery of the completion by the consumer of an incomplete or duly unfilled request for account transfer.
  6. Informing the consumer of the nearest date on which the transfer of the payment account may be effected if, as a result of the consumer’s completion of the request for account transfer on the basis of the invitation under paragraph 2 above, it is not possible to meet the date (deadline) specified in the consumer’s request for account transfer, as of which standing orders for payment and direct debits are to be executed with the receiving payment service provider, or as of which payers may make payments to the consumer’s payment account provided that the consumer requests the receiving payment service provider to inform them.
  7. Sending the consumer’s request for payment account transfer to the transferring payment service provider within 2 working days from the day following receipt of a complete and duly made request for payment account transfer, and also in accordance with the consumer’s request for account transfer, sending the transferring payment service provider a request for:
  8. a) the provision of information
  • on payments and direct debits, including standing orders,  
  • primarily on the type of protection of the consumer’s payment account against direct debit, the reference of the mandate for a direct debit and on the direct debit beneficiary’s unique identifier in the case of a direct debit in euros,
  • on payments and direct debits, including those made on a cross-border basis, with maturity after the date of transfer of the consumer’s payment account,
  • on incoming payments and direct debits made on the consumer’s payment account in the last 13 months; the information will also be provided to the consumer if he/she so requests;
  1. b) the discontinuation of receipt of incoming payments and direct debits as of the date specified in the request for payment account transfer, unless the transferring payment service provider provides a system for automatic redirection of incoming payments and direct debits to the consumer’s payment account held with the receiving payment service provider;
  2. c) the cancellation of standing orders for payment and direct debits with effect from the date specified in the request for payment account transfer;
  3. d) the transfer of funds to a payment account opened with the receiving payment service provider on a date specified by the consumer, unless the consumer’s obligations relating to the payment account held with the transferring payment service provider prevent the transfer from being effected;
  4. e) the cancellation of the payment account as of the date of expiration of a notice period (the “payment account information”).
  5. Within five working days of the date of receipt of the required payment account information from the transferring payment service provider and in accordance with the request for payment account transfer
  6. a) setting up and executing standing orders for payment and direct debits as of the date specified in the request for payment account transfer, where the technical capabilities of the receiving payment service provider allow it;
  7. b) setting the type of protection of the payment account against direct debit so that direct debits can be made as of the date specified in the request for payment account transfer;
  8. c) notifying the consumer of the consumer’s rights related to direct debit;
  9. d) upon the consumer’s consent, informing the payers making payments to the consumer’s payment account about the details of the consumer’s payment account held with the receiving payment service provider and about the date as of which they may order payments to such consumer’s payment account, and sending a copy of the request for payment account transfer from the consumer to those payers, but only to the extent it relates to the payer concerned and if the consumer so requests the receiving payment service provider in the request for account transfer;
  10. e) upon the consumer’s consent, informing the beneficiaries using direct debits to clear the funds from such consumer’s payment account of the details of the consumer’s payment account held with the receiving payment service provider and about the date as of which the beneficiaries may make payment orders for direct debits from the consumer’s payment account, and sending a copy of the request for payment account transfer from the consumer to those beneficiaries, but only to the extent it relates to the direct debit beneficiary concerned and if the consumer so requests the receiving payment service provider in the request for account transfer.
  11. Delivery of an invitation to provide additional information necessary to perform the acts referred to in paragraph 8(d) or (e) above to the consumer, if the receiving payment service provider lacks the information necessary to perform the said acts and the transferring payment service provider fails to provide such information in accordance with the request for payment account transfer within ten working days from the date of delivery of the invitation to the consumer.
  12. Notifying the consumer of the nearest possible date as of which payments and direct debits will be made on the consumer’s payment account held with the receiving payment service provider if, due to a lack of information to fulfil the obligations referred to in paragraph 8(d) or (e) above, it was not possible to meet the dates (deadlines) specified in the request for payment account transfer.
  13. Notifying the consumer of the reasons for not effecting the transfer of the payment account to the extent of the transfer of the payment account under paragraph 8(d) or (e) above, if the consumer fails to notify the receiving payment service provider of the information referred to in paragraph 8(d) or (e) above within ten working days from the date of receipt of the invitation under paragraph 9 above or the information provided by the consumer is insufficient.
  14. Presenting the consumer with information on his/her payment account for the purpose of providing the information referred to in paragraph 8(d) above, if the receiving payment service provider lacks the consumer’s consent to informing the payers in accordance with paragraph 8(d) above which results from the request for payment account transfer and such information is provided to the payers by the consumer.

Acts performed by the transferring payment service provider and deadlines/time limits related thereto

  1. Receipt of the first request for account transfer and rejection of the second and subsequent request for account transfer, if the consumer requests the transfer of the same payment account from several receiving payment service providers.
  2. Informing each receiving payment service provider from which a request for payment account transfer was delivered after receipt of the first request for payment account transfer and the consumer about the refusal to transfer the payment account and the reasons for such refusal.
  3. Sending payment account information under paragraph 7(a) above in accordance with the request for account transfer to the receiving payment service provider, within five working days from the day following receipt of the request for account transfer.
  4. Discontinuation of receipt of incoming payments and direct debits on the payment account with effect from the date specified in the request for payment account transfer, unless the transferring payment service provider provides a system for automatic redirection of standing orders for payment and direct debits to the consumer’s payment account held with the receiving payment service provider.
  5. Cancellation of standing orders for payment and direct debits with effect from the date specified in the request for payment account transfer.
  6. Transfer of funds to an account opened with the receiving payment service provider on the day specified in the consumer’s request for payment account transfer, no earlier than 20 working days (unless otherwise agreed upon between the transferring payment service provider and the consumer) from the date of receipt by the receiving payment service provider of a duly made and complete request for payment account transfer, if the consumer requests the transferring payment service provider to do so and unless the consumer’s obligations relating to the payment account being transferred prevent the transfer from being effected.
  7. Transfer of the balance of funds to an account opened with the receiving payment service provider on the date of expiration of a notice period in the case of termination of a framework agreement with the transferring payment service provider, if the consumer requests the transferring payment service provider to do so and unless the consumer’s obligations relating to the payment account being transferred prevent the transfer from being effected.
  8. Notifying the consumer of the obligations relating to the payment account that prevent the funds from being transferred without delay, if the consumer requests the transfer of the funds or the balance of the funds to an account opened with the receiving payment service provider.
  9. Refusal to transfer the funds, if within the time limit set by the transferring payment service provider, the consumer fails to remove the obstacle referred to in paragraph 20 above that prevents the funds from being transferred.
  10. Notifying the consumer of the reasons for the refusal to transfer the funds, if within the time limit set by the transferring payment service provider, the consumer fails to remove the obstacle referred to in paragraph 20 above that prevents the funds from being transferred.
  11. Cancellation of the payment account as of the date of expiration of the notice period.
  12. Informing the consumer of the obligations relating to the payment account that prevent the payment account from being cancelled without delay, if the consumer requests the transferring payment service provider to cancel the payment account.
  13. Refusal to cancel the payment account, if within the time limit set by the transferring payment service provider, the consumer fails to remove the obstacle referred to in paragraph 24 above that prevents the payment account from being cancelled.
  14. Notifying the consumer of the reasons for the refusal to cancel the payment account, if within the time limit set by the transferring payment service provider, the consumer fails to remove the obstacle referred to in paragraph 24 above that prevents the payment account from being cancelled.
  15. Executing a direct debit payment order and then notifying the receiving payment service provider of such fact, if the transferring payment service provider has received the direct debit payment order prior to the date of cancellation of standing payment orders or direct debits with the transferring payment service provider.
  16. Immediate discontinuation of receipt of incoming payments and direct debits following the execution of the payment order referred to in paragraph 27 above, if the consumer has requested the procedure under paragraph 16 above in his/her request for account transfer.

Information on the free transfer of a payment account

Transfer of a payment account is free of charge.

However, if the consumer requests the transferring payment service provider to transfer the funds or the balance of the funds to an account opened with the receiving payment service provider in a currency other than euro, such transfer may be subject to a charge.

Information requested from the consumer to transfer a payment account

the consumer’s identification data to the extent specified in the request for payment account transfer;

details of the consumer’s payment account held with the transferring payment service provider to the extent as follows: (i) the transferring payment service provider’s business name, (ii) the IBAN of the consumer’s account being transferred, (iii) the currency in which the consumer’s payment account is held with the transferring payment service provider;

information on whether the payment account opened with the receiving payment service provider when transferring the payment account is a basic banking product or a payment account with basic features;

the date from which standing payment orders and direct debits are to be executed with the receiving payment service provider (no earlier than 20 working days from the date of receipt by the receiving payment service provider of a duly made and complete request for payment account transfer, unless otherwise agreed upon between the receiving payment service provider and the consumer);

the date from which payers may make payments to the consumer’s payment account held with the receiving payment service provider, if the consumer requests the receiving payment service provider to inform the payers making payments to the consumer’s payment account (no earlier than 20 working days from the date of receipt by the receiving payment service provider of a duly made and complete request for account transfer, unless otherwise agreed upon between the receiving payment service provider and the consumer);

the date from which direct debit beneficiaries may make payment orders for direct debits from the consumer’s payment account held with the receiving payment service provider (no earlier than 20 working days from the date of receipt by the receiving payment service provider of a duly made and complete request for account transfer, unless otherwise agreed upon between the receiving payment service provider and the consumer) · the date of cancellation of standing orders for payment and direct debits on the payment account held with the transferring payment service provider;

the date of discontinuation of receipt of incoming payments and direct debits on the consumer’s payment account held with the transferring payment service provider;

the date on which the transferring payment service provider transfers the funds to a payment account opened with the receiving payment service provider, if the consumer requests the transfer of the funds;

contact details of the payers making payments to the consumer’s payment account, if the consumer requests the receiving payment service provider to inform those payers about the details of the consumer’s payment account held with the receiving payment service provider and about the date as of which they may order payments to the consumer’s payment account held with the receiving payment service provider;

contact details of the consumer-designated direct debit beneficiaries who may file direct debit payment orders from the consumer’s payment account with the receiving payment service provider, if so requested by the consumer, and the date as of which they may file direct debit payment orders from such payment account;  

the amount to be paid, the date of a regular payment and the payee’s identification (a natural person; a natural person – entrepreneur (i.e. a sole trader): name, surname, IBAN; a legal person: business name, IBAN) if the consumer requests only certain standing payment orders to be set up with the receiving payment service provider;

the amount to be paid and the payee’s identification (a natural person; a natural person – entrepreneur (i.e. a sole trader): name, surname, IBAN; a legal person: business name, IBAN), if the consumer requests only certain standing payment orders to be cancelled with the transferring payment service provider;

the amount to be paid, due date and the payee’s identification (a natural person; a natural person – entrepreneur (i.e. a sole trader): name, surname, IBAN; a legal person: business name, IBAN), if the consumer requests only certain payment orders to be set up with the receiving payment service provider;

the amount to be paid, due date and the payee’s identification (a natural person; a natural person – entrepreneur (i.e. a sole trader): name, surname, IBAN; a legal person: business name, IBAN), if the consumer requests only certain payment orders to be cancelled with the receiving payment service provider;

the unique mandate reference (UMR), direct debit due date and the payee’s (beneficiary’s) identification (a natural person; a natural person – entrepreneur (i.e. a sole trader): name, surname, IBAN; a legal person: business name, IBAN), if the consumer requests direct debit payment orders to be set up with the receiving payment service provider;

the date of a recurring direct debit and the payee’s (beneficiary’s) identification (a natural person; a natural person – entrepreneur (i.e. a sole trader): name, surname, IBAN; a legal person: business name, IBAN), if the consumer requests only certain direct debit payment orders to be cancelled with the transferring payment service provider;

the identification of a direct debit beneficiary – a creditor (business name, Company Reg. No.), if the consumer requests only certain direct debit mandates to be set up with the receiving payment service provider. A creditor identifier (CID) and unique mandate reference (UMR) shall be provided only if the consumer has given more than one direct debit mandate to the same creditor and the consumer has requested the receiving payment service provider to set up only part of such direct debit mandates;

the identification of a direct debit beneficiary – a creditor (business name, Company Reg. No.), if the consumer requests the transferring payment service provider to cancel only certain direct debit mandates. A creditor identifier (CID) and unique mandate reference (UMR) shall be provided only if more than one direct debit mandate has been given to the same creditor and only part of such direct debit mandates is to be cancelled.

Out-of-court dispute resolution procedure

The consumer has the right to file a complaint with:

  1. VÚB, a.s.
  • orally at the branches of VÚB, a.s.;
  • in writing to the address: VÚB, a.s., Client Complaints Handling Department, Mlynské nivy 1, 829 90 Bratislava;
  • by phone through the Contact Centre at the phone number 0850 123 000 (in the Slovak Republic), +421 2 4855 59 70 (from abroad);
  • by e-mail, using a contact form on the website www.vub.sk.
  1. National Bank of Slovakia
  • in person
  • electronically using a form
  • in writing to the address:

Národná banka Slovenska (National Bank of Slovakia)
Imricha Karvaša 1 
813 25 Bratislava

More information is available on http://www.nbs.sk

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