Messages for you
1. Public declarations issued by MONEYVAL Committee
2. Public declarations issued by The Financial Action Task Force
3. Alerts regarding news on the prevention and control of money laundering and terrorism financing
4. National Office for Prevention and Control of Money Laundering
5. "International Sanctions" - Financial Supervisory Authority
Information for companies on Government Emergency Ordinance no. 113 /2009 concerning the payment services
Government Emergency Ordinance no. 113/2009 (“GEO”) transposes European Parliament Directive no.2007/64/EC concerning the payment services into the national legislation.
Entry into effect: November 1st, 2009
Objective - creation of an internal community market, as well as of a unitary regulation framework at the European Union level; improvement of payment services execution conditions (payments and collections, direct debit, cash deposits and withdrawals, card transactions, etc.), for enlarging the transparency concerning the above-mentioned commercial transactions, the improvement of the execution times, the clarification of the legal responsibility of both the payment institutions and their clients.
GEO only refers to certain foreign currencies and certain countries in Europe:
Countries within the scope of GEO (member states): Austria, Belgium, Bulgaria, Cyprus, Czech Republic, Denmark, Germany, Estonia, Greece, Spain, Finland, France, Ireland, Iceland, Italy, Lithuania, Liechtenstein, Luxembourg, Latvia, Malta, Netherlands, Norway, Poland, Portugal, Romania, Sweden, Slovenia, Slovakia, Hungary, United Kingdom of Great Britain and Northern Ireland.
Foreign currencies within the scope of GEO: BGN, CHF**, CZK*, DKK*, EEK, EUR*, GBP*, HUF*, ISK, LTL, LVL, NOK*, PLN*, RON*, SEK*.
** CHF is within the scope only if the transaction partner has its residence in Liechtenstein. Switzerland is not included within the scope of GEO
* Foreign currencies, which UniCredit Bank (“Bank”) operate with
The national currency - RON, and the foreign currency - EUR, have a special treatment in Title IV of GEO.
Which of the provisions that have been stipulated in GEO apply to companies?
Pursuant to art. 114 of GEO, the provisions of Title IV (rights and obligations concerning the provision and use of payment services) may apply to all categories of clients: individual persons and companies. For companies, the Bank has implemented obligatory articles, as well as a part of the optional articles. (Please see the details in the General Business Conditions of the Bank - hereinafter called GBC).
Transactions making the object of GEO:
- Cash deposited to or withdrawn from a payment account
- Payment operations - examples: Direct Debit, credit transfer (OP/DPE), scheduled payments, currency exchanges through accounts, transfer between own accounts, regardless of the used payment instrument - paper or another electronic payment instrument (BusinessNet)
- Acceptance of bank cards (debit/credit) for payment, as well as issuance of cards
- Cash remittance
For the complete list of transactions, NOT making the object of GEO, please consult art. 4 of GEO.
What is the operational impact of GEO on companies?
The standard payment commissioning principle, pursuant to GEO, is always “SHARE” (SHA). The payments using the “OUR” option are accepted by the Bank only if the payment operation implies a foreign currency conversion (foreign currency conversion = payment using a debtor account different from the foreign currency of the transferred amount).
The BEN principle is not accepted even if the payment operation implies a conversion!
The payment operations in RON on the Romanian territory are accepted only with the SHAoption.
These commissioning modalities are imposed by GEO by art. 3, art. 116 and art. 150.
The correspondents of these articles within Directive no. 2007/64/EC are compulsory for all the member states and payment institutions providing services on the territory of these states.
Pursuant to these principles, the bank has already implemented the payment commissioning modality for the purpose of GEO.
Amount deductions. No payment service provider is entitled to deduction from the transferred amount (art. 150 of GEO).
Collections. UniCredit Bank will further accept the collections with the “OUR” option. The collections with the BEN commissioning option will be considered with SHA commissioning.
Execution term. The payments made in RON on the Romanian territory, received by the Bank in the published time limits, will be executed within maximum T+1 (at T+1, respectively, the amount is credited into the payment beneficiary’s bank account). There are no changes for this type of payments.
An innovation brought by GEO is represented by the maximum execution term for thepayments made in EUR on the Romanian territory. This term was reduced to T+1 (this term is valid as long as the debited account is in RON or EUR. The transfers made by conversion from other foreign currencies bear an additional day to the execution term: T+2).
In the member countries, for the Cross Border transfers in RON or other foreign currencies for the purpose of GEO, the maximum execution term is maintained, as up to now, to T+2 (except for the FlashPayment transfers - in EUR, within the UniCredit Group - which are maintained to T+1).
For the Cross Border transfers in foreign currencies outside the purpose of GEO, the standard execution term is T+2.
Unique identification codes.
Transactions initiated/received by the Clients will be appropriately executed if the payment beneficiary’s unique identification code has been correctly supplied. For Romania, the unique identification code represents the combination between the IBAN account and the BIC/Swift code of the bank.
The bank may refuse to perform any payment operations in case the information requested and supplied by the Client are illegible, incomplete or incorrect. In such case, the Client has the possibility to request the list with the payment operations refused at the Bank’s pay office. The information concerning the refused payment operations will be able to be also consulted by means of the BusinessNet. The payment operations entered within the time limits (Cutt-Off Time), but which do not have enough funds, are refused by the Bank (are not considered received when there is no sufficient balance for their execution).
In case of an unauthorized or incorrectly performed payment operation, the Client has the obligation to notify the Bank immediately, without unjustified delay, but no later than 3 months since the debt date, on the fact that it ascertained an unauthorized or incorrectly performed payment operation, which led to a complaint.
Payment instruments blocking.
For all liquidities remote management instruments, the Bank will provide the Clients with anon-stop instruments blocking service.
Furthermore, the Bank has the right to objectively block the payment instrument, for justified reasons.
Surcharges applied by merchants to card payments are forbidden.
What is the legal impact of GEO on the Bank and companies?
All rights and obligations, imposed by the GEO to the Bank and companies, are stipulated in the new version of the General Business Conditions (GBC) displayed at the front offices of the UniCredit Bank and published on the Bank’s internet page. Among the provisions added to the GBC are: clarification of the consent term given by the Client for the authorization of transactions, as well as its revocation, the moment of reception and acceptance of a payment instruction, the expense limits per each payment, payment conditions blocking/deblocking conditions instrument, rights and obligations of payers and beneficiaries by direct debit, reimbursement of paid amounts, respectively.
FOR AN EXHAUSTIVE APPROACH, PLEASE READ THE NEW GBC OF UNICREDIT BANK, IN FORCE ON 2nd NOVEMBER, 2009.
We hereby inform you that UniCredit Bank S.A. Is presently conducting a campaign to update and complete the information and documents regarding the identification of its customers, according to the requirements of Regulation No.9 /2008 of the National Bank of Romania on customer due diligence and of Government Decision No. 594/2008 for approval of the Norms of Implementation of Law No.656/2002. We mention that we conduct this campaign in order to fulfill the legal obligations, incumbent to all banks, to implement the above mentioned laws and regulations.
Therefore, we invite you to visit the UniCredit Bank SA branches where your accounts are opened in order to update and complete the information and documents regarding your identification.
We thank you for your understanding and we assure you of our full support for maintaining a successful business relationship.
Acquiring card business involves an Interchange Fee paid by the Merchant Bank (Acquirer Bank) to the Cardholder’s Bank (Issuing Bank) in relation to a payment transaction.
These fees, as well as the acceptance rules, are available on the following web sites:
Pursuant to the Financial Supervisory Authority (FSA) Regulation 9/2015 regarding the solving procedure, by the entities regulated and supervised by the FSA under Law no. 297/2004 on the capital market and Law no. 74/2015 on alternative investment fund managers, of the petitions relating to their activity in the capital market ("Regulation)", UniCredit Bank SA ("UniCredit Bank/Bank") makes available to the public at their territorial units and on the website http://www.unicredit.ro the following information.
According to the Regulation, a petitioner (individual or company), in its position as client of the Bank, may submit a written petition with regard to investment services and activities provided based on the provisions of the Law no. 297/2004.
Petition means the request, complaint or referral brought to the attention of the Bank describing acts that harm the petitioner’s rights or interests, through which, the petitioner express his/her dissatisfaction regarding the investment services and activities provided by UniCredit Bank under Law no. 297/2004 or to the information provided by the Bank to the requests for information received from the petitioner.
Any petition shall be in writing, signed by the petitioner or by his/her empowered legal guardian (that acts on the behalf of the petitioner and without commercial interest site) and can be submitted to the Bank`s Head Office or any of the territorial units of UniCredit Bank or can be submitted through: i) regular mail to the address Bucharest, no. 1F Expozitiei Boulevard, Sector 1, postal code 012101, ii) on-line system website UniCredit Bank, section "Opinions and Complaints" or iii) at phone number +40 21 200 2020 (normal rate for calling the fixed network Romania Telekom) or *2020 (normal rates for calling mobile networks Telekom Romania, Orange, RCS & RDS, Vodafone). The complainant can check the progress of the petition filed using the same means of contact listed above.
The petition must contain the following information:
- Identification of the petitioner (for individuals: name the petitioner, PIN, ID, address, telephone number, e-mail, for legal persons: name the petitioner, registration number in the Trade Register (J) UIC, registered office, telephone number, e-mail, legal representative);
- The quality of the petitioner that formulated the petition (holder/legal representative);
- Subject of the petition (service/activity advertisement or information provided); and
- The interest of the petitioner
Petitions are registered by the Bank in the Single Register of Petitions.
UniCredit Bank will respond to every petition received within maximum 30 days from the date of its registration, whether favorable or unfavorable solution. If the petition notifies aspects that may require further research, UniCredit Bank will inform the petitioner in this respect and states the term in which the petition will be solved, which shall not exceed 45 days from the registration petition.
If the final solution does not answer petitioner request, the Bank will provide detailed explanations on the measures taken, the petitioner has the right to use the means of amicable dispute resolution (mediation, conciliation, arbitration) provided by legal provisions in force, and to address competent authorities and bodies, as appropriate:
- Financial Supervisory Authority (FSA) – Bucharest, no 15 Splaiul Independentei Boulevard, Sector 5, postal code 050 092,firstname.lastname@example.org;
- National Authority for Consumer Protection (ANPC) – Bucharest, no. 72 Aviatorilor Boulevard, Sector 1, email@example.com; and
- Competent courts to settle disputes
Information provided to legal entities depositors regarding bank deposits guarantee
Basic information regarding deposit protection*
The Deposit Guarantee Fund in the Banking System 1
The RON equivalent of EUR 100,000 per deponent per credit institution 2
The minimum value for the payment of compensation for the deposits for which no transaction occurred in the last 24 months is established by the Deposit Guarantee Fund in the Banking System.
If you have more deposits placed within the same credit institution:
All deposits placed within the same credit institution are “aggregated” and the total amount is subjected to the cap amount established for the RON equivalent of EUR 100,000 2.
If you share a joint account with another person(s):
The coverage limit established for the RON equivalent of EUR 100,000 separately, for each depositor3.
Reimbursement period for compensation in case of unavailability of the deposits placed with the credit institution.
7 working days 4
Compensation payment currency:
Address: 3 Negru Voda Street, Building A3, 2nd floor, Bucharest, ZIP code: 030774; Telephone: 021 326 6020, E-mail address: firstname.lastname@example.org; Fax: 0314 232 800
|The depositor’s receipt confirmation:|
*THE INFORMATION IS APPLICABLE ONLY IF YOU ARE NOT ON THE LIST OF DEPOSITS EXCLUDED FROM GUARANTEE PRESENTED BELOW.
1 Scheme responsible for your deposit’s protection. Your deposit is covered by a statutory deposit guarantee scheme, officially recognized in Romania.
2 General cap amount. In case a deposit is unavailable because a credit institution is in default according to the applicable contractual and legal conditions, the compensation payment towards the depositors is performed through the deposit guarantee scheme. Each compensation has a cap amount established at the RON equivalent of EUR 100,000 per credit institution. This means that all the deposits from the same credit institution are aggregated in order to determine the coverage level. For example, if a depositor has a savings account of EUR 90,000 and a current account of EUR 20,000, such depositor will only receive the RON equivalent of EUR 100,000.
Deposits established by legal persons resulting from (i) real estate transactions regarding residential properties with housing destination, (ii) retirement, dismissal, invalidity or death of the depositor and (iii) collecting insurance benefits and compensations for damages resulting from crimes or wrongful convictions are covered above the RON equivalent of EUR 100,000, for a 12-month period from the date the amount was credited into the account at the Bank or the date when the deposits can be legally transferred to another credit institution. Additional information is available on www.fgdb.ro.
3 The cap amount applicable to the joint accounts. In the case of joint accounts, the cap amount established for the RON equivalent of EUR 100,000 EUR is applied to each depositor. The deposits in an account whose beneficiary are two or more persons in their position as members of labour associations, associations or groups of the same kind, without legal personality, are aggregated and treated as if they were placed by a single depositor, for the cap amount calculation of EUR 100,000.
4 Compensation payment. The relevant deposit guarantee scheme is the Deposit Guarantee Fund in the Banking System, having its headquarters on 3 Negru Voda Street, building A3, 2nd floor, Bucharest, ZIP code: 030774, telephone 021-3266020, e-mail address: email@example.com, www.fgdb.ro. This will grant you all due compensations (up to the RON equivalent of EUR 100,000) within 7 working days from the date the deposits became unavailable.
If you have not been granted the compensation within this period of time, we recommend you to contact the deposit guarantee scheme, as the term in which you may claim the reimbursement of the compensation may be limited. Additional information is available on www.fgdb.ro.
Other important information:
Deposit – any credit balance, including the due interest, resulting from the funds in an account or transition situations arising from current banking operations and that the Bank needs to reimburse, according to the legal and contractual conditions applicable, including term deposits and savings accounts, that are not found in any of the following situations: a) its existence can be proven only by a financial instrument as defined by Law No. 297/2004 regarding the equity market, unless it is a savings product which is evidenced by a certificate of deposit made out to a named person existing on July 2nd, 2014;
b) the principal cannot be reimbursed at the nominal value;
c) the principal can be reimbursed at nominal value only within a certain guarantee or agreement provided by the credit institution or by a third party.
The level of compensation – is determined by deducting from the amount of all eligible deposits owned by the depositor guaranteed at the respective credit institution on the date the deposits became unavailable, the total value of the payable debts on the same date of the credit institution for the respective depositor.
LIST OF DEPOSITS EXCLUDED FROM GUARANTEE
1. Deposits of credit institutions personally opened, in compliance with the provisions of Art. 64, para. (2) of Law no. 311/2015 regarding the deposit guarantee schemes and the Deposit Guarantee Fund in the Banking System.
2. Instruments that can be considered own funds as per their definition, as defined under Art. 4, para. (1), item 118 of the EU Regulation no. 575/2013.
3. Deposits resulted from transactions based on which final conviction orders for money laundering were given, according to the legislation in the area of prevention and control of money laundering. The inclusion of deposits into this category is performed according to the deposit guarantee scheme, based on the information received from the competent authorities, from the credit institution whose deposits became unavailable or by the liquidator named by the court, as the case may be.
4. Deposits of financial institutions, as defined under Art. 4, para. (1), item 26 of EU Regulation No 575/2013.
5. Deposits of investments companies, as defined under Art. 4, para. (1), item 2 of EU Regulation No 575/2013.
6. Deposits for which the owner’s identity has not been checked up to the moment they became unavailable, according to the legislation in the area of prevention and control of money laundering.
7. Deposits of insurers and reinsurers, as defined under Art. 2, letter A, items 5 and 39 of Law No. 32/2000 regarding the activity of insurance and insurance supervision, as subsequently amended and completed.
8. Deposits of collective investment undertakings, as they are defined by the legislation of the equity market.
9. Deposits of the retirement funds.
10. Deposits of central, local and regional public authorities.
11. Securities arising from the debt issued by the credit institution, as well as obligations arising out of own acceptances and promissory notes.