Dear Client
Please allow us to inform you that changes will occur in the General Business Terms and Conditions of Volksbank CZ, a.s. (hereinafter referred
to as the GBTC) effective as from 7 November 2012. The revised wording of the updated GBTC is available at www.volksbank.cz and at all Volksbank
Points of Sale. The changes in the GBTC are as follow:
Introduction
– Paragraph 2 of the Introduction is amended expressly to state that credit terms
and conditions also have preference over the contractual regulation in the GBTC.
Part One: General Provisions
– Article II. is amended by the addition of a new paragraph 4 with the following
wording: “The Client acknowledges that he or she is entitled not to permit the
Bank to make photocopies of documents proving his or her identity. In such
case, the Bank is entitled to record the Client’s identification data.”
– Paragraph 2 of Article III. is changed such that the Client is obliged to inform
the Bank without delay also of any change of telephone or email contact.
– Paragraph 4 of Article III. is changed such that the Client is obliged to inform
the Bank without delay also of any loss or theft of the Token.
– A new Article IV. Protection of personal data is inserted with the following
wording:
“(1)The Bank handles personal data in accordance with legal regulations. Information concerning the handling of personal data is provided in the document “Information regarding the Processing and Protection of Personal Data”
which is available to the Client on the Bank’s website www.volksbank.cz
and at the business premises of all the Bank’s Points of Sale.
(2) The Client grants the Bank his or her consent to the processing of personal
data prior to concluding an Agreement.”
– Paragraph 2 of Article VII. is changed such that its new wording is as: “In addition
to the agreed interest and fees, the Client is also charged the justified costs and
outlays arising from concluding, changing and terminating an Agreement,
and in particular costs for payment of court, administrative or other fees as well
as costs expediently incurred for legal services, notaries, experts, and translators
or interpreters.”
– Paragraph 5 of Article X. Delivery of notices and methods of communication
is changed such that its new wording is as follows: “Should the Client arrange
with the Bank access to selected information by means of an Electronic Archive,
the Client can find the given information through an electronic access arranged
with the Bank in a separate agreement on electronic communication – Internet
banking.”
– Article XI. Complaints and claims is amended to include information about
the Bank’s Claims Code being available at www.volksbank.cz in the section
Documents/Other Documents.
– Paragraph 1 of Article XII. Branches is changed such that now: “The Bank
provides banking services to the Client by means of the branch network.” The
former paragraph 2 of this Article is deleted and paragraph 3 is renumbered
accordingly.
Part Two: Accounts
– Paragraph 4 of Article II. is deleted in its entirety.
– Article III. is amended to include a new paragraph 4 with the following wording:
“Unless otherwise agreed with the Account Holder, Account statements are
issued by the Bank always with the balance as of the final Banking Business
Day of the given period for which the statement is issued.” Other paragraphs
of this Article will be renumbered accordingly.
– Article V. is amended such that the Account Holder is also obliged to return
the Token to the Bank.
Part Four: Cash and Noncash Payment Operations
Chapter I: General provisions for payment operations
– Paragraph 3 b) is adjusted and the new wording is as follows: “In foreign
payment operations between member states of the European Economic
Area regardless of transaction currency the banking connection in IBAN and
BIC format (The Bank is entitled not to execute a payment order to an EU/EEA
country if the account number is not stated in IBAN format). In other cases of
foreign payment operations, account number and BIC or account number
and routing code are permitted.”
Infolinka 800 133 444
www.volksbank.cz
– A new paragraph 4 is inserted, with the following wording: “The Bank accepts
payment orders as standard or urgent (priority). Unless expressly designated
as urgent, the Bank regards a payment order as standard. An urgent payment
order is executed within a shortened time period (see Article III. Time periods
for the Bank to execute a payment order). The Bank charges a special fee for
such order pursuant to the List of Fees. Provisions referring to payment orders
in these Terms and Conditions relate to both standard and urgent payment
orders, unless expressly stated otherwise.”
– In Article I. the following text is added after the table in paragraph 2: “The above
cut-off times may be changed in connection with public holidays in the Czech
Republic. In such case, the Bank shall inform Clients of the change in advance
by means of a notification on an Account statement, on the Bank’s website,
and at the business premises of all the Bank’s Points of Sale.”
– In Article I. the following sentence is added after the currently existing wording
of paragraph 3: “It is possible to submit to the Bank a domestic debit order 30
(thirty) days before its payment date.”
– Article II. is amended in paragraph 2 c) so that the Bank is entitled to refuse
execution of a payment order also if the written payment order is completed
with a pencil.
– In Article II. paragraph 7 is changed such that its new wording is as follows:
“The Bank may refuse to execute a payment order should its execution cause
a breach of the legal regulations, or should such refusal be necessary according
to the determination of a competent state authority, or should a payment order
be submitted in a way raising doubts as to its legitimacy and validity.”
– Paragraph 3 of Article III. is changed such that its new wording is as follows:
“Standard outgoing domestic and foreign noncash payments other than
in paragraph 2 of this Article:
a) shall be debited from the payer’s Account by the Bank as of the date of receipt of a payment order by the Bank, within the period D+0
b) shall be executed by the Bank in such way as to ensure that the funds were
credited to the recipient’s bank account or to the correspondent bank’s
account on the Banking Business Day following the date of receipt of a payment order by the Bank, within the period D+1, with the exception of payment transactions in RUB, JPY and AUD for which the period D+2 applies.
The Client may submit a payment order as urgent. In such case, the Bank will
execute the payment order in favour of the account of the recipient’s bank or the
correspondent bank as of the date of receiving the payment order, i.e. within
the period D+0, with the exception of payment transactions in RUB, JPY and
AUD for which the period D+1 applies.”
– The wording of paragraph 2 of Article V. is amended so that its last sentence
is as follows: “An order presented through a relevant electronic banking application can be retracted through the relevant electronic banking application
by means of a text message containing all the requisites of a payment order
or a written report delivered personally or by fax, if the electronic banking
application does not enable sending a text message to the Bank.”
– Paragraph 2 of Article VI. is changed to the following new wording: “The Bank
executes conversion of currencies according to the exchange rate stipulated
and announced by the Bank pursuant to paragraph 1 of this Article of the Terms
and Conditions at the time of executing an order. In cases of payments and
transfers exceeding the amount agreed for these purposes in the List of Fees,
the Bank reserves the right to execute the conversion of currencies according
to the current rate on the interbank market. At the same time, the Bank reserves
the right to temporarily change the rules for purchase and sale of certain
currencies.”
– Article VI. Exchange rates used by the Bank is amended to include new paragraphs 3 to 9 worded as follows:
“(3)For a cash withdrawal in foreign currency from an Account maintained
in CZK, the “cash sale” rate is used.
(4) For a cash deposit in foreign currency to an Account maintained in CZK,
the “cash purchase” rate is used.
(5 For a cash withdrawal in CZK from an Account maintained in foreign currency, the “cheque purchase” rate is used.
(6) For a cash deposit in CZK to an Account maintained in foreign currency,
the “cheque sale” rate is used.
(7) For cash withdrawals and deposits in a currency other than CZK from/to
an account maintained in foreign currency, the respective cross rate between the currencies is used if the two currencies are different. The cross rate
is established as the calculation of the exchange rates of the two currencies
against the Czech crown.
(8) For noncash operations, the “cheque sale/cheque purchase” rate is used.
(9) For cash operations of purchasing or selling traveller’s cheques, the “cheque
purchase” and “cheque sale” rates are used.”
– In Article VII. paragraph 2 is changed such that its new wording is as follows:
“The Bank examines every claim in accordance with Article XI. Complaints and
claims.”
Chapter II: Special provisions for cash payment operations
– In Article I. paragraph 4 is changed as follows: “In all cash payment transactions
exceeding EUR 1,000 (one thousand) or the equivalent thereof in a different
currency, the Bank is obliged to perform the identification of the Client.
An individual is obliged to present an identity card and a legal entity is obliged
to present a document confirming its existence and the ID card of a person
acting on its behalf. The Bank is entitled to require proof of identity even if the
payment transaction does not exceed the aforementioned amount or the
equivalent thereof in a different currency. The Bank records the data thus
obtained.”
– In Article I. paragraphs 5 and 6 are added after paragraph 4 with the following
wording:
“(5)The Bank does not usually accept coins of a foreign currency and does not
enable cash withdrawals in coins in a currency other than CZK. In the case
of a cash withdrawal in foreign currency which for the aforementioned
reason is fully or partially non-payable, the Bank is entitled to make the
payment only up to the nominal amount of legal tender of the given
currency that it has available or to make the payment in an alternate currency or in CZK, unless agreed otherwise with the Client.
(6) The Bank reserves the right to refuse damaged foreign currency banknotes
if deemed to be excessively damaged.”
Chapter III: Special provisions for noncash payment operations
– In Article III. Special characteristics for executing foreign payment transactions,
the previous wordings of paragraphs 1 to 4 are changed to the following
wordings:
“(1)For a foreign payment transaction between member states of the European
Economic Area in a currency of one of those states, the Client is obliged
to submit a payment order with assignment of fee payment as SHA or OUR
if the payment transaction involves a currency exchange. If fee payment
is assigned as BEN, the Bank shall execute the payment order as if the SHA
payment method was assigned.
(2) For a foreign payment transaction which is not a payment transaction
between member states of the European Economic Area or is a payment
transaction in a currency other than a currency of an EEA member state,
the Client is entitled to submit a payment order with assignment of fee
payment as SHA, OUR or BEN.
(3) The Bank is entitled to deduct the service fee from the amount of an incoming foreign payment transaction before its crediting to the Client’s Account
(with the exception of payments with designation of fees as OUR). In the
case of an outgoing payment transaction, the amount corresponding to the
sum of the outgoing payment transaction and the fee for its execution
will be deducted from the Account (with the exception of payments with
designation of fees as BEN).
(4) The Bank informs the Account Holder of each foreign payment transaction
in a separate notification on debiting or crediting the Account with a detailed
description of the payment transaction and breakdown of fees.”
Part Five: Liability of the Bank and the Client
– Paragraph 6 is changed such that the mention of an error in telegraphic or telex
contact is deleted.
Part Six: Other Provisions
– In paragraph 3 of Article II. the text in parentheses is changed such that its new
wording is as follows: “(e.g. payments, cash deposits/withdrawals, executed/
charged payment card transactions etc.)”.
– Paragraph 8 of Article II. is changed such that its new wording is as follows:
“Client is understood to be a natural person or legal entity to whom or which
the Bank provides its services based on an Agreement or with whom or which
the Bank is conferring about concluding an Agreement or who was authorized
by the Account Holder to dispose with the funds in the Account or to transact
with the Account.”
– Paragraph 11 of Article II. is changed such that its new wording is as follows:
“Bank’s Point of Sale is understood to be a branch of the Bank.”
– A new paragraph 21 is added in Article II. with the following wording: “A Token
is understood to be an electronic payment device by means of which noncash
payment transactions are executed on the Account to which it is issued. It
contains identification and security data enabling identification of its user
and authorization of noncash payment transactions and other requests submitted in internet and mobile banking systems.”
– Paragraph 1 of Article III. is amended so that the Bank now is entitled to propose
to the Client a change in the Agreement, including the Terms and Conditions,
also in connection with improving the quality of the Bank’s services and developments in its business policies.
– Paragraph 3 of Article III. is changed such that its new wording is as follows:
“In case it concerns a change of the Payment Services Agreement and the Client
refused the proposal of the change according to this Article, the Client has the
right to withdraw by notice from such Agreement prior to the day when its
change should become effective, without charge and with immediate effect.
The notice of termination must be made in writing and delivered to the Bank
prior to the date when the changes should become effective. In case it concerns
a change of an Agreement which is not a Payment Service Agreement, pursuant
to paragraph 1 of this Article, the proposal does not establish the right of the
Client to premature termination of such Agreement and conditions for its
termination are still governed by the provisions of the relevant Agreement.”
– A new paragraph 5 is added to Article III. with the following wording: “In case
of introducing a new banking product or service, the Bank is entitled to draw
up separate business terms and conditions for the selected product or service
and to update the Terms and Conditions and List of Fees up to the day of introducing the new banking product or service. Such action does not constitute
a change in the Agreement pursuant to paragraph 1 of this Article of the Terms
and Conditions.”
– In Article V. paragraph 1 the address for sending a written withdrawal is
specified so that it should be sent to the address Volksbank CZ, a.s., Client
Information Centre, Heršpická 5, 658 26, Brno, unless some other address is
stated in the agreement.
We also wish to inform you that in accordance with the Payment Systems Act, it shall apply that the aforementioned proposed changes in the GBTC are
regarded as accepted if the Bank proposed the changes at latest 2 months prior to the day upon which those changes are to take effect and if you
do not refuse those changes in writing. We are legally obliged also to inform you that should you disagree with the aforementioned proposal you
may withdraw in writing from the payment services contract affected by the proposal at no charge and with immediate effect prior to the day upon
which the proposed changes are to take effect.
Should you disagree with the proposed changes in the GBTC, please contact your banking advisor.
Should you have any questions, please visit any Point of Sale of the Bank or call the toll-free info line at 800 133 444.
Your Volksbank
In Prague, 31 August 2012