24h Service 05 0100 - 20111 www.erstebank.at
Services
General Information on Payment Services for Consumers Customer information Last updated: July 2015 With this information brochure, we intend to Inform our customers (who are consumers in accordance with § 1 (1) Item 2 of the Austrian Consumer Protection Act) about the significant facts in relation to the payment services of Erste Bank der oesterreichischen Sparkassen AG (henceforth referred to as Erste Bank Oesterreich). Under no circumstances can this information replace the necessary contractual arrangements.
Chamber/profession association: Austrian Chamber of Commerce (Banks section 1045 Vienna, Austria, Wiedner Hauptstraße 63 http://www.wko.at
2. Licence The Sparkasse was granted a licence by the Austrian Financial Market Supervisory Authority, Otto-WagnerPlatz 5, 1090, Vienna, Austria for the provision of banking services, which also entitles the Sparkasse to perform payment services for its customers.
I. Die Erste Bank Oesterreich 1. Bank details Erste Bank der oesterreichischen Sparkassen AG (Erste Bank Oesterreich), Graben 21, 1010 Wien
3. Legal regulations Applicable legal regulations are specifically the Austrian Payment Services Act (ZaDiG), the Austrian Banking Act (BWG), the Austrian Securities Supervision Act (WAG) and the Savings Bank Act (SpG), as amended (http://www.risk.bka.gv.at).
24h Service Tel.: +43 (0)5 0100 - 20111 E-Mail:
[email protected] Central switchboard Tel.: +43 (0)5 0100 - 10100 Fax: +43 (0)5 0100 9 - 10100 E-mail:
[email protected]
II. Framework contracts for payment services and costs
Registration:
1. General information
Firmensitz Wien, FN 286283 f Handelsgericht Wien UID: ATU 63358299 DVR 3002133 Swift Code/BIC: GIBAATWWXXX Bank code: 20111
Together with this “General Information on Payment Services”, the customer will receive the contract text prior to the conclusion of a framework contract (particularly the current account contract) and the related terms and conditions to be arranged, particularly the General Terms and Conditions, the Card Terms and Conditions and the Terms and Conditions for Digital Banking (henceforth jointly referred to as the “Terms and Conditions”), to be concluded with the Sparkasse in case of interest in its payment services. The Terms and Conditions are part of the framework contracts, provided that these are concluded between the Sparkasse and the customer.
License: Licensed bank in accordance with § 1 (1) of the Austrian Banking Act Responsible supervisory authority Austrian Financial Market Supervisory Authority 1090 Vienna, Otto-Wagner-Platz 5 http://www.fma.gv.at
At any time during the term of the framework contracts, the customer can request the presentation of these “General Terms and Conditions on Payment Services” and the Conditions once again at no charge, in paper form or on other permanent data media. Seite 1 von 8
2. Changes to framework contracts and Terms and Conditions arranged in framework contracts The Sparkasse will notify the customer of a proposal for changes to the framework contract, the Terms and Conditions or to contracts concluded for individual payment services no later than two months prior to the planned time of their validity. The customer may object to the change notified in writing until its planned time of application. In the change notification, the Sparkasse shall inform the customer about this and the customer’s right to cancel the contract without notice and free of charge prior to the changes becoming valid. In addition, the Sparkasse will publish a comparison of the provisions of the Terms and Conditions affected by the change, as well as the complete version of the new requirements on its website and provide this comparison to the customer at the latter's request. 3. Term and cancellation Framework contracts for payment services and the necessary contracts for individual payment services shall be concluded for an indefinite period. The customer can cancel the framework contracts and the contracts for payment services at no charge at any time, without adhering to a cancellation notice period. If it issues an ordinary cancellation, the Sparkasse must adhere to a cancellation notice period of 2 months. If an important reason exists, it will be possible for both the customer and the Sparkasse to cancel the entire business relationship or individual parts thereof at any time.
If it is necessary to buy or sell amounts in foreign currency for a payment service to be performed by the Sparkasse, the buying or selling will take place by the Sparkasse on the basis of the current market exchange rate that the Sparkasse generally charges its customers at the time of the order being executed. These prices can be seen in the conditions posted at the counter of the branches and on the Sparkasse website. Additional fees incurred by the Sparkasse from this transaction can be seen in the terms and conditions notice. 6. Interest The agreed interest rates in the framework contract for credit and debit balances can be seen in the terms and conditions notice. Provided that no interest escalation clause has been arranged with the customer, changes to the interest rates are only possible with the customer’s consent. In the case of agreed fixed interest rates, the customer can also give this consent in accordance with the procedure described in II.2, but only to the extent that this corresponds to the development of the costs and does not exceed the limits agreed in the Terms and Conditions (General Terms and Conditions, 44c, 3).
III. Communication with the Sparkasse 1. Language Unless specifically agreed otherwise, the Sparkasse will make use of the German language when concluding contracts and in communicating with its customers in relation to payment services.
4. Fees and costs 2. Communication options In the terms and conditions notice, which is provided to the customer together with this “General Information on Payment Services” and which is also part of the framework contract (particularly the current account contract), the agreed fees charged by the Sparkasse can be seen for account management and payment services. The terms and conditions notice also contains the fees for a notification about the rejection of a payment order, for the observance of a cancellation and for efforts undertaken to recover a transferred amount that has been misdirected because of faulty customer identifiers. The Sparkasse can only change the fees agreed with the customer with the customer's consent. The customer’s consent can also be granted within the context of the procedure described under II.2; in this case, however, no more than one adjustment per year can be agreed with the customer and such adjustment must not exceed the development of the consumer price index. 5. Foreign currency transactions
In addition to a personal discussion during the branch opening hours/after prior arrangement, also outside of these working hours, the options for establishing contact with the Sparkasse are generally available to the customer in accordance with the “Bank details” point above. 3. Legally binding declarations and notices Legally relevant correspondence between the Sparkasse and its customers are processed in writing (particularly also about the account statements), unless agreed otherwise. For the authorisation of payment orders, as well as for notices and information in relation to payment orders, the agreed form of communication will be used for the respective payment service. In addition to written communication, the following methods of communication particularly come into question, if the customer has the Seite 2 von 8
necessary technical equipment, such as a computer and telephone connection: − Digital banking, using the arranged personal identification characteristics (e.g. TAN, mobile TAN, electronic signature) − Telefax and telephone (specifying the password arranged for this purpose) − other electronic data transmission, observing the relevant arranged security precautions
IV. Sparkasse payment services
attorney to dispose of this payment account has specifically been issued in writing; they must provide evidence of their identity and representation authority. The account holder can issue a signing authority to other persons explicitly and in writing. The authorised signatory is exclusively authorised to perform and cancel dispositions regarding the account. With a cash deposit onto a payment account, the payer must provide identification from a deposit amount of EUR 1,000 or more. A cash withdrawal from a payment account is possible by an authorised person (account holder, authorised signatory, authorised attorney, etc.) after appropriate identification/ascertainment of the authorisation.
1. General services offered 2.b. Execution of payment transactions In the area of payment services, the Sparkasse offers the following services:
2.b.i. Direct debit business
1.a. Services with which cash payments are enabled onto a payment account or cash withdrawals from a payment account, as well as all necessary procedures for administering a payment account (deposit and payment business);
With a direct debit, the customer issues his/her consent to the payment recipient, the payment recipient’s bank or his/her own bank with consent that entitles the payment recipient to subsequently debit the customer’s payment account.
1.b. The execution of payment transactions, including the transfer of monetary amounts onto a payment account with a bank of the user or with another bank: i. Execution of SEPA debit entries (once or recurrently) (direct debit business) ii. Execution of payment transactions using a payment card or a similar instrument (payment card business) iii. Execution of transfers including standing orders (transfer business)
The following procedures are available for executing direct debits: - SEPA direct debit - SEPA company direct debit (B2B)
2. Description of the main features of the aforementioned payment services 2.a. Administration of payment accounts (“current accounts”) and deposit and payment business Payment accounts are accounts that are for the purpose of payment services and not for investment. When opening a payment account, the future account holder must provide evidence of his/her identity. Payment accounts are administered in the name or company name of the account holder and a number. Those persons who are intended to have a right of disposal/signature right for a payment account must lodge their signature with the Sparkasse. The Sparkasse will permit written dispositions within the context of the account relationship with the customer on the basis of the lodged signatures. Only the account holder is authorised to dispose of the payment account. Only those persons shall be authorised to represent him/her whose authorised representation arises by law or to whom a power of
In the SEPA direct debit procedure, the payer issues the payment recipient with a direct order (SEPA mandate) to perform collections. As the account-holding bank of the payer, the Sparkasse does not become involved in this procedure and exclusively performs the posting. In the SEPA company direct debit (B2B), the payer, who may not be a consumer, authorises the Sparkasse as account-holding bank to allow collections by payment recipients for the benefit of which such payer has signed SEPA B2B mandates. . The differences between the procedures: With SEPA direct debits, the reversal period is 56 calendar days. Customers from whose payment account the collection has taken place can have any posted collection reversed within this period without specifying any reasons. With SEPA company direct debits (B2B), no reversal option exists for the paying entrepreneur.
2.b.ii. Execution of payment transactions using a payment card or a similar instrument Seite 3 von 8
a. BankCard Using a BankCard, it is possible for the customer to use the card service after entering a personal code – also referred to as a PIN (Personal Identification Number). The card service is a worldwide cash withdrawal system and cashless payment system, which makes it possible to withdraw cash and/or make cashless payments at designated acceptance centres using the BankCard. Furthermore, the card service can be used to load up the Quick electronic wallet. With payments for small amounts, it is also possible to use the card service on specially marked payment terminals without entering the access card and without entering the PIN. The cardholder is specifically authorised, - to withdraw cash domestically and abroad on cashpoint machines up to an agreed limit using the access card and the PIN; - to deposit amounts for own or third-party accounts and transfer money from the account(s) to which the access card is allocated to own or third-party accounts/savings books, using domestic cash deposit machines with the access card and the PIN;
- to use the access card and the PIN to pay for services cashlessly from retailers and service companies domestically and abroad up to the agreed limit at cash registers (“POS registers”) bearing the symbol on the access card. Instead of entering the PIN, it may be necessary to provide a signature abroad; - to pay contactlessly and cashlessly at POS cash registers bearing the “Contactless” symbol shown on the access card using the access card, without inserting the access card, without providing a signature and/or entering the PIN, by simply holding the access card over the POS cash register, to pay for deliveries and services from contracting companies domestically and abroad up to EUR 25 per individual transaction; however, for security reasons, the total sum of small payments that may be paid in direct sequence one after the other without entering the PIN is limited to EUR 125. When this total sum is reached, the cardholder will be required to enter their PIN to effect a payment or withdraw cash, after which they will again be authorised to make further small payments as described. - to load the electronic wallet and pay cashlessly for deliveries and services of domestic contracting companies at cash registers and machines that bear the Quick symbol, as well as on the Internet, without entering a PIN or other identification, up to the loaded amount; - to pay cashlessly for deliveries and services from contracting companies which offer these on the Internet with reference to participation in the MasterCard SecureCode process (also referred to as MCSC process). The payment process is instructed by the
cardholder without presenting the card, by entering the personal MaestroSecure code. b. Credit card Using a credit card, the cardholder is authorised, after entering the personal code – also referred to as the PIN (Personal Identification Number) – or by providing his/her signature, within the agreed purchase or by contactlessly swiping the card at a payment terminal, - to purchase goods and services from the affiliated contracting companies by presenting the card without a cash payment; - to purchase their services without presenting the card and without a cash payment within the context of distance selling via written or telephone orders, if this is permitted by the respective contracting company. This also applies to the conclusion of legal transactions on the Internet or using a mobile end device (e-commerce, m-commerce); in the case of merchant companies offering Verified by Visa / MasterCard SecureCode, the card holder must register for the service in order to carry out payments. - to withdraw cash within the agreed limit from authorised banks; - to withdraw cash domestically and abroad on cashpoint machines that are specifically marked for withdrawals using the card, up to an agreed limit using the access card and the PIN.
c. Digital banking Using electronic banking products, it is possible for the customer − to issue legal declarations by entering the personal identification characteristics (signatory number, the password and TAN/mobile TAN); − to authorise transfers and direct debits from payment accounts where the customer is the account holder or authorised signatory, − to make account enquiries/create account statements. 2.b.iii. Transfer business (also in the form of standing orders) In order to issue standing orders, the Sparkasse must be provided with the recipient’s payment services provider (bank code/Bank Identifier Code, BIC) and the International Bank Account Number (IBAN) of the recipient. For transfers within Austria, it will not be necessary to provide the BIC. For transfer orders in favour of a recipient whose account is held with a payment services provider outside of the EEA, Switzerland, Monaco or San Marino the customer must specify the recipient: - with the recipient’s account number and either name and bank code or BIC of the recipient’s payment services provider or Seite 4 von 8
- with the recipient’s IBAN and the BIC of the recipient’s payment services provider. The IBAN and BIC or, alternatively, the account number and name/bank code/BIC of the payment services provider of the recipient represent the recipient’s customer identifier, on the basis of which the transfer order is executed. If the customer provides additional details about the recipient, such as the recipient’s name, these are not part of the customer identifier, but are only for documentation purposes and remain disregarded by the bank with the execution of the transfer. The purpose specified in the transfer order is insignificant for the bank in any event. However, the acceptance of a transfer order by the bank does not form the basis of any third-party rights against the bank. The bank is only obligated to execute a transfer order if full cover is available on the customer’s specified account (credit balance, overdraft limit). Transfer orders can be issued by the customer in writing, with the BankCard, after entering the PIN, or using digital banking by entering the personal identification number (signatory number, the password and TAN/mobile TAN). However, the Sparkasse is also authorised to execute transfer orders using telecommunication (particularly by telephone, telegraphically, by telex, by telefax or data transfer). The Sparkasse is obligated to execute such orders only if this has been agreed in advance between customer and Sparkasse.
The Sparkasse is only obligated to execute a transfer order if full cover is available on the customer’s specified account (credit balance, overdraft limit). The SEPA transfer is the standardised European payment service product for domestic and cross-border euro transfers in the entire SEPA area (Single Euro Payments Area).
V. Duties of care with payment instruments and blocking of payment instruments 1. The customer’s duty of care with payment instruments After the receipt and with the use of a payment instrument, the customer must take all reasonable precautions to ensure that the personalised security features (particularly the personal code, TAN, mobile TAN, digital signature, etc.) and the payment instrument (e.g. BankCard) is protected from unauthorised access (a precise description of the payment instruments and the security features can be found under Chapter IV,
Point 2.b.ii.). In his/her own interest, the customer is also obligated to keep the payment instrument safe. It is not admissible to pass on the payment instrument to third parties. The personalised security features must be kept secret. These must not be noted down on the payment instrument. The personalised security features must not be disclosed to anyone, particularly also not relatives, Sparkasse employees, other account holders or other cardholders. It must be ensured that the use of the personalised security features is not spied on by third parties. 2. Blocking of payment instruments 2.a. Block by the Sparkasse The Sparkasse can block a payment instrument in the following circumstances: 1) if there is objective justification for this with regard to the security of the payment instrument; 2) if it is suspected that unauthorised or fraudulent use of the payment instrument has occurred; 3) if the customer fails to meet a payment obligation in connection with a credit line (violation of limit restrictions on payment or withdrawal) associated with the payment instrument and a) there is the risk that the customer will be unable to meet the payment obligation in view of a deterioration or exposure to jeopardy of the pecuniary circumstances of the customer or a jointly liable person, or b) the customer has been declared insolvent or is about to be declared insolvent. The Sparkasse will notify the customer prior to imposing the block, if at all possible, but no later than immediately afterwards. However, this notification can be waived if it contravenes objective security considerations or would violate a judicial or official order. The customer must comply with the conditions for issuing and use of the payment instruments. 2.b. Block by the customer The loss, theft, misuse or other unauthorised use of a payment instrument must be immediately reported by the customer to Erste Bank Austria under the telephone number 05 0100 - 20111 or the account manager, as soon as he/she becomes aware of it. Furthermore, it is possible for the customer to block his/her BankCard and his savings cards himself/herself online using digital banking.
VI. Authorisation and execution of Seite 5 von 8
payment orders 1. Authorisation, cancellation and rejection of payment orders A payment order shall only be deemed by the Sparkasse as authorised when the customer has consented to the respective payment transaction in the form arranged with him/her for this purpose and using a payment instrument arranged with him/her for this. Legal or official orders can replace this consent. The consent can be revoked by the customer until − the customer’s payment order has been received by the Sparkasse or − in the case of an arranged execution date in the future, prior to the end of the business day that is before the arranged day. SEPA direct debits and SEPA company direct debits (B2B) can be cancelled by the customer by no later than the end of the business day prior to the arranged debit date. The Sparkasse can only reject the execution of an authorised payment order if − it does not fulfil all of the defined requirements in the current account contract and the Terms and Conditions (particularly if the required details are missing or the necessary cover is lacking from an account credit balance or an available credit line); or − the execution would violate Community Law or domestic regulations or would violate a judicial or official order; or − a justified suspicion exists that the execution would constitute a criminal act. In the case of rejecting an execution the Sparkasse will inform the customer in the form arranged with the customer as soon as possible, however, in any event, no later than within the time limits specified in item 39 (3) and (4) of the General Terms and Conditions. 2. Time of receipt of payment orders A payment order has been received by the Sparkasse on the same day if the order arrives with the Sparkasse on a business day by the times shown in the schedule/enclosure below. If an order is not received on a business day or after the times stated below, it shall only have been received on the next business day.
Method of order placement
Latest time of receipt
Paper-based order placement for payments domestically, within the European Economic Areas, for Monaco and Switzerland in EURO Electronic order placement (netbanking) for payments domestically, within the European Economic Areas, for Monaco and Switzerland in EURO Other foreign payment transactions paper-based order placement, conversion into foreign currency necessary
Within the opening times of the respective branch
7:00 pm
Within the opening times of the respective branch
Other foreign payment transactions Within the opening paper-based order placement, no times of the conversion necessary respective branch Other foreign payment transactions electronic order placement 11:00 am (netbanking), conversion into foreign currency necessary Other foreign payment transactions electronic order placement 2:45 pm (netbanking), no conversion necessary Electronic submission of direct debits (netbanking)
7:00 pm
Business days of the Sparkasse are Monday to Friday, except for holidays, 24 December and Good Friday. 3. Execution and term of payment orders For payment transactions in euro, the Sparkasse ensures that the amount that is the subject matter of the payment order is received by the payment recipient’s payment services provider by no later than one business day after receipt of the payment order. For payment orders placed in paper form, the aforementioned time limit is extended by an additional business day. For payment transactions within the European Economic Area that are not denominated in euro, but rather, in another currency of an EEA Member State, the execution time limit is a maximum of 4 business days. For payment orders in favour of recipient accounts that are held with institutes outside of the European Economic Area, or for payment orders in a currency other than euro or a currency of an EEA Contract State, the Sparkasse is obligated to ensure that the payment order is processed as soon as possible.
4. Liability of the Sparkasse for payment orders that have not been executed or have been executed incorrectly Seite 6 von 8
For payment orders in euro or the currency of an EEA Contract State in favour of a recipient account held in the European Economic Area, the Sparkasse shall be liable to its customer for the proper and timely execution of the payment transaction until receipt of the amount with the recipient’s payment services provider. For payment orders in favour of recipient accounts that are held with institutes outside of the European Economic Area, or for payment orders that are not being executed in euro or in the currency of an EEA Contract State, the Sparkasse is obligated to ensure that the payment order is processed as soon as possible and – unless prescribed by the customer – make use of suitable additional payment services providers. From receipt of the amount, the payment recipient’s payment services provider will be liable to the same for the proper further execution of the payment transaction. If a payment order is initiated by or through the payment recipient, his payment services provider shall be liable towards the payment recipient − for the proper transmission of the payment order to the payer’s payment services provider and − for processing the payment transaction in accordance with its duties regarding value date and availability. 5. Information about individual payment transactions Directly after the execution of a payment transaction, the Sparkasse shall provide the customer with the following information through a communication channel arranged for this purpose, for collection in the branch or for accessing via digital banking or account statement printer or sent by post: − a reference that makes it possible to identify the relevant payment transaction, as well as any details about the payment recipient − the relevant amount in the currency in which the customer’s account was debited, or in the currency that is used in the payment order − with the underlying exchange rate for the payment transaction, if applicable − the value date of the debit or the date of receipt of the payment order Furthermore, upon request, the Sparkasse shall use the same method for providing the customer with a schedule of the fees incurred or interest payable by the customer for the processing of payment transactions in the previous month. This information will be provided to the customer as a principal, as well as a payment recipient.
VII. Liability and reimbursement obligation in relation to payment
orders 1. Payment transactions not authorised by the customer 1.a. Correction of the account debit If a payment order has been debited to the customer’s account without the customer’s authorisation, the Sparkasse will immediately restore the debited account to the balance that it would have had without the unauthorised payment transaction, i.e. specifically, the debit to the account will be reversed with the amount of the payment transaction as of the value date of the debit. In order to initiate this correction, the customer must notify the Sparkasse immediately, as soon as he/she determines a payment transaction that he/she has not authorised. The customer’s right to correction shall end no later than 13 months after the day of the debit. Notwithstanding this correction entitlement by the customer, in an individual case, claims are also possible against the Sparkasse on other legal grounds. 1.b. Liability of the customer If payment transactions that have not been authorised by the customer are due to misuse of a payment instrument, the customer shall be obligated to compensate the Sparkasse for its entire loss incurred, if the customer i. facilitated the loss with fraudulent intent or ii. has brought about the loss through malice aforethought or grossly negligent violation of the duties applying to the careful safekeeping of payment instruments. If the customer has only violated these duties with slight negligence (he has committed a violation of the duty of care, which can also not be ruled out with the average conscientious person), the customer's liability for the loss is limited to an amount of EUR 150. The customer’s liability shall not apply (with the exception of the case mentioned in Point 1.b.i.) for payment transactions that are prompted after his/her instruction to the Sparkasse to block the payment instrument, using this payment instrument. 2. Refund of an authorised payment transaction initiated by the payment recipient The customer has a claim against the Sparkasse to a refund for the full amount of an authorised payment that has been initiated by or through a payment recipient and has already been executed. With SEPA direct debit procedures, the reversal period is 56 calendar days. Customers from whose payment account the collection has taken place can have any posted collection reversed within this period without Seite 7 von 8
specifying any reasons.
VIII. Complaints The Sparkasse always strives to support its customers in the best possible manner with regard to their concerns, wishes and requirements in all areas of banking business. If the customer should nevertheless have a reason to complain, the Sparkasse will immediately investigate this complaint. For this purpose, the customers should either contact their account manager or – if no satisfactory resolution can be achieved in this way – the management of the Sparkasse/the ombudsman’s office of the Sparkasse.
The customer can also contact the Joint Conciliation Board of the Austrian Banking Industry, Wiedner Hauptstraße 63, 1045, Vienna, Austria with his/her complaint. However, he/she can also involve the Austrian Financial Market Supervisory Authority, Otto-WagnerPlatz 5, 1090 Vienna, Austria. The ordinary courts, which must apply Austrian law, are responsible for deciding on disputes in relation to account maintenance or payment services. The general legal jurisdiction of the Sparkasse is specified above with the bank details.
Seite 8 von 8