Procedure for transferring a payment account

1. receipt of the submitted request for account transfer from the consumer in the Slovak language, in two copies, in written form, delivered in person, by post with the official certification of the authenticity of the signature, or electronically, if the consumer has expressed consent to the request for payment account transfer in a manner agreed between the consumer and the receiving payment service provider used for electronic communication, or if it is signed with a qualified electronic signature and if the technical capabilities of the receiving payment service provider allow it.
2. sending an invitation to the consumer to complete the request for account transfer in the event that the request is incomplete or is not duly completed, whereby the consumer must complete the request within ten working days from receipt of such invitation.
3. rejection of the request for account transfer if the consumer fails to complete the request for account transfer within the time limit specified in paragraph 2, and notifying the consumer without delay of the reasons for the rejection of the payment account transfer.
4. informing the transferring payment service provider of the invitation to complete the request under paragraph 2, 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 not duly completed request for account transfer.
6. informing the consumer of the nearest date on which the payment account transfer may be effected if, as a result of the consumer completing the request for account transfer on the basis of the invitation under paragraph 2, it is not possible to meet the date specified by the consumer in the request for account transfer, as of which standing orders for payment and direct debits are to start being 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 at the same time, in accordance with the consumer’s request for account transfer, sending the transferring payment service provider a request for:
   1. 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 direct debit and the unique identifier of the direct debit beneficiary, in the case of direct debit in euros
      • on payments and direct debits, including cross-border payments and direct debits, 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 shall also be provided to the consumer if he/she so requests
   2. 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
   3. the cancellation of standing orders for payment and direct debits with effect from the date specified in the request for payment account transfer
   4. the transfer of funds to the payment account opened with the receiving payment service provider on the date specified by the consumer, unless the consumer’s obligations relating to the payment account held with the transferring payment service provider prevent such transfer
   5. the cancellation of the payment account as of the date of expiry of the notice period (hereinafter referred to as the “payment account information”)
8. 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
   1. setting up standing orders for payment and direct debits and executing them as of the date specified in the request for payment account transfer, where the technical capabilities of the receiving payment service provider allow it
   2. 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
   3. notifying the consumer of the consumer’s rights related to direct debit
   4. 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 them the notice intended for the payer, the template of which is laid down by a generally binding legal regulation issued by the Ministry of Finance of the Slovak Republic
   5. upon the consumer’s consent, informing the beneficiaries using direct debit to clear funds from such 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 the beneficiaries may submit direct debit payment orders from the consumer’s payment account, and sending them the notice intended for the direct debit beneficiary, the template of which is laid down by a generally binding legal regulation issued by the Ministry of Finance of the Slovak Republic; the direct debit beneficiary is obliged to accept a change to the direct debit mandate delivered by the receiving payment service provider, and the beneficiary is obliged to modify the payer’s consent to such debiting according to the content of the change to the direct debit mandate as of the date stated in the notice intended for the direct debit beneficiary delivered by the receiving payment service provider.
9. delivery of an invitation to the consumer to provide additional information necessary to perform the acts referred to in paragraph 8(d) or (e), if the receiving payment service provider does not have the information necessary to perform those acts and the transferring payment service provider has not provided 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.
10. 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 necessary to fulfil the obligations referred to in paragraph 8(d) or (e), it was not possible to meet the dates specified in the request for payment account transfer.
11. notifying the consumer of the reasons for not completing the payment account transfer in the part of the payment account transfer under paragraph 8(d) or (e), if the consumer fails to notify the receiving payment service provider of the information referred to in paragraph 8(d) or (e) within ten working days from the date of receipt of the invitation under paragraph 9, or if the information provided by the consumer is insufficient.
12. providing the consumer with details of his/her payment account for the purpose of providing the information referred to in paragraph 8(d), if the receiving payment service provider does not have the consumer’s consent, resulting from the request for payment account transfer, to inform the payers under paragraph 8(d), and such information is provided to the payers by the consumer.

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

13. receipt of the first request for account transfer and refusal of the second and any subsequent request for account transfer, if the consumer requests the transfer of the same payment account from several receiving payment service providers.
14. informing each receiving payment service provider from which a request for payment account transfer was received after receipt of the first request for payment account transfer, as well as the consumer, of the refusal to transfer the payment account and the reasons for such refusal.
15. sending payment account information under paragraph 7(a), 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.
16. 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 payment account opened by the consumer with the receiving payment service provider.
17. cancellation of standing orders for payment and direct debits with effect from the date specified in the request for payment account transfer.
18. transfer of funds to an account opened with the receiving payment service provider on the date specified by the consumer in the request for payment account transfer, no earlier than 20 working days (unless otherwise agreed 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.
19. transfer of the balance of funds to an account opened with the receiving payment service provider on the date of expiry of the notice period in the case of termination of the 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.
20. notifying the consumer without delay of the obligations relating to the payment account that prevent the funds from being transferred, 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.
21. 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 that prevents the funds from being transferred.
22. 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 that prevents the funds from being transferred.
23. cancellation of the payment account as of the date of expiry of the notice period.
24. notifying the consumer without delay of the obligations relating to the payment account that prevent the payment account from being cancelled, if the consumer requests the transferring payment service provider to cancel the payment account.
25. 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 that prevents the payment account from being cancelled.
26. 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 that prevents the payment account from being cancelled.
27. executing a direct debit payment order and subsequently notifying the receiving payment service provider of this fact, if the transferring payment service provider has received the direct debit payment order before the date of cancellation of standing orders for payment or direct debits with the transferring payment service provider.
28. immediate discontinuation of receipt of incoming payments and direct debits following the execution of the payment order referred to in paragraph 27, if the consumer requested the procedure under paragraph 16 in the 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 following extent: (i) the business name of the transferring payment service provider, (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 being opened with the receiving payment service provider during the payment account transfer is a basic banking product or a payment account with basic features
• the date from which standing orders for payment 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 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 between the receiving payment service provider and the consumer)
• the date from which direct debit beneficiaries may submit direct debit payment orders 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 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 the 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 such payers about the details of the consumer’s payment account held with the receiving payment service provider and about the date from 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 submit direct debit payment orders from the consumer’s payment account held with the receiving payment service provider, if the consumer so requests, and the date from which they may submit direct debit payment orders from that payment account
• the amount to be paid, the date of the regular payment and the payee’s identification (a natural person; a natural person – entrepreneur: name, surname, IBAN; and a legal person: business name, IBAN), if the consumer requests only certain standing orders for payment 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: name, surname, IBAN; and a legal person: business name, IBAN), if the consumer requests only certain standing orders for payment to be cancelled with the transferring payment service provider
• the amount to be paid, the due date and the payee’s identification (a natural person; a natural person – entrepreneur: name, surname, IBAN; and 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, the due date and the payee’s identification (a natural person; a natural person – entrepreneur: name, surname, IBAN; and a legal person: business name, IBAN), if the consumer requests only certain payment orders to be cancelled with the transferring payment service provider
• the unique mandate reference (UMR), direct debit due date and the payer’s identification (a natural person; a natural person – entrepreneur: name, surname, IBAN; and 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 the recurring direct debit and the payer’s identification (a natural person; a natural person – entrepreneur: name, surname, IBAN; and 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
• identification of the direct debit beneficiary – 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. The 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.
• identification of the direct debit beneficiary – creditor (business name, Company Reg. No.), if the consumer requests only certain direct debit mandates to be cancelled with the transferring payment service provider. The 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.

Dispute resolution

The consumer is entitled to use the option of alternative dispute resolution through alternative dispute resolution entities that are authorised to resolve disputes arising from or in connection with a banking transaction agreement. The consumer is also entitled to choose the relevant alternative dispute resolution entity.

The conditions of alternative dispute resolution, as well as the rights and obligations of VÚB and the consumer as parties to alternative dispute resolution, are regulated by Act No. 391/2015 Coll. on Alternative Resolution of Consumer Disputes. The list of alternative dispute resolution entities is published on the website of the Ministry of Economy of the Slovak Republic.

The website of the Ministry of Economy of the Slovak Republic also contains further information on the relevant alternative dispute resolution entity and on the conditions under which you may contact that entity.