How PSD2 will change the services for mBank corporate customers
Dear Customer,
we are introducing changes brought by the PSD2 in the area of handling mBank’s products for corporate customers. In Poland, the provisions of this directive are incorporated into the Payment Services Act which came into effect on 20 June 2018.
The most important changes that will be introduced as of 17 December 2018 are as follows:
Our response to complaints will be quicker. We have 15 working days to do that, and in special cases - 35 working days.
SHA will be the only cost option for foreign payments to EU countries as well as to Norway, Iceland and Liechtenstein (EEA area). This means that the ordering party will bear the costs of the bank’s fees and commissions, while the costs of other fees and commissions will be borne by the beneficiary.
Your bank advisor will be happy to provide you with more details on these changes.
A detailed list of changes in products, documents and regulations, to be introduced at mBank as of 17 December 2018:
|
Product or area affected by the change: |
Description of the change |
|---|---|
|
Complaints |
Our deadlines for responding to complaints will be shortened to 15 and 35 working days. So far, this deadline has been 30 and 60 calendar days. We will reply to your complaint on paper or through the mBank CompanyNet system. |
|
Foreign transfers and remittances |
The cut-off time for outgoing foreign payment orders will now be extended to 2:00 p.m. We will now handle payments in ILS (Israeli new shekel) and TRY (Turkish lira) in the D+1 (URGENT) mode, where D stands for the date of our execution of the payment order. There will be only one cost option available for instructions for foreign payments to EU countries as well as to Norway, Iceland and Liechtenstein (EEA area) - SHA. |
|
mBank CompanyNet |
For foreign payments to EU countries as well as to Norway, Iceland and Liechtenstein (EEA area):
The provisions of our regulations that concern the exclusion clause and deadlines for responding to complaints are being amended *.
The revised Regulations will enter into force on 17 December 2018. |
|
BRESOK |
For foreign payments to EU countries as well as to Norway, Iceland and Liechtenstein (EEA area):
The provisions of our regulations that concern the exclusion clause and deadlines for responding to complaints are being amended *.
Polish version The revised Regulations will enter into force on 17 December 2018. |
|
MultiCash |
For foreign payments to EU countries as well as to Norway, Iceland and Liechtenstein (EEA area):
The provisions of our regulations that concern the exclusion clause and deadlines for responding to complaints are being amended *.
Polish version The revised Regulations will enter into force on 17 December 2018. |
|
SWIFTNET |
For foreign payments to EU countries as well as to Norway, Iceland and Liechtenstein (EEA area):
Our response to complaints will be quicker. We have 15 working days to do that, and in special cases - 35 working days. |
|
Payment and prepaid cards
|
The provisions of our regulations that concern the exclusion clause and deadlines for responding to complaints are being amended * #: The following regulations will be published on 7 December 2018 at mBank web site:
|
|
Integrated Bank Account Agreement
Bank account
|
The provisions of our regulations that concern the exclusion clause and deadlines for responding to complaints are being amended *:
Polish version
Polish version
Polish version
|
|
Custody Account |
The provisions of our regulations that concern the exclusion clause and deadlines for responding to complaints are being amended *:
|
|
Escrow Account |
The provisions of our regulations that concern the exclusion clause and deadlines for handling complaints are being amended *:
|
|
Electronic Escrow Account |
The provisions of our regulations that concern the exclusion clause and deadlines for responding to complaints are being amended *:
|
|
Cash services
|
The provisions of our regulations that concern the exclusion clause and deadlines for responding to complaints are being amended *:
Polish version
Polish version
|
|
Direct debit - Payee Direct debit - Payer |
The provisions of our regulations that concern the exclusion clause and deadlines for responding to complaints are being amended *:
|
|
Financial markets (All products) |
The provisions of our regulations that concern the exclusion clause and deadlines for responding to complaints are being amended *:
|
|
Financial markets:
|
The provisions of our regulations that concern the exclusion clause and deadlines for responding to complaints are being amended *:
|
|
Custody services |
The provisions of our regulations that concern the exclusion clause and deadlines for responding to complaints are being amended *:
|
|
SME Package |
The provisions concerning deadlines for responding to complaints are being amended *:
Polish version
Polish version
|
|
mBank InvoiceNet |
The provisions concerning deadlines for responding to complaints are being amended *:
|
|
Credit risk products |
For credit risk products that represent payment services, we apply the provisions of PSD2.
|
|
Credit risk products that operate outside the Regulations for sharing credit risk products (Financing suppliers)
|
The provisions concerning deadlines for responding to complaints are being amended *:
|
|
Product or area affected by the change: |
Description of the change |
|---|---|
|
Complaints |
Our deadlines for responding to complaints will be shortened to 15 and 35 working days. So far, this deadline has been 30 and 60 calendar days. We will reply to your complaint on paper or through the mBank CompanyNet system. |
|
Foreign transfers and remittances |
The cut-off time for outgoing foreign payment orders will now be extended to 2:00 p.m. We will now handle payments in ILS (Israeli new shekel) and TRY (Turkish lira) in the D+1 (URGENT) mode, where D stands for the date of our execution of the payment order. There will be only one cost option available for instructions for foreign payments to EU countries as well as to Norway, Iceland and Liechtenstein (EEA area) - SHA. |
|
mBank CompanyNet |
For foreign payments to EU countries as well as to Norway, Iceland and Liechtenstein (EEA area):
The provisions of our regulations that concern the exclusion clause and deadlines for responding to complaints are being amended *.
The revised Regulations will enter into force on 17 December 2018. |
|
BRESOK |
For foreign payments to EU countries as well as to Norway, Iceland and Liechtenstein (EEA area):
The provisions of our regulations that concern the exclusion clause and deadlines for responding to complaints are being amended *.
Polish version The revised Regulations will enter into force on 17 December 2018. |
|
MultiCash |
For foreign payments to EU countries as well as to Norway, Iceland and Liechtenstein (EEA area):
The provisions of our regulations that concern the exclusion clause and deadlines for responding to complaints are being amended *.
Polish version The revised Regulations will enter into force on 17 December 2018. |
|
SWIFTNET |
For foreign payments to EU countries as well as to Norway, Iceland and Liechtenstein (EEA area):
Our response to complaints will be quicker. We have 15 working days to do that, and in special cases - 35 working days. |
|
Payment and prepaid cards
|
The provisions of our regulations that concern the exclusion clause and deadlines for responding to complaints are being amended * #: The following regulations will be published on 7 December 2018 at mBank web site:
|
|
Integrated Bank Account Agreement
Bank account
|
The provisions of our regulations that concern the exclusion clause and deadlines for responding to complaints are being amended *:
Polish version
Polish version
Polish version
|
|
Custody Account |
The provisions of our regulations that concern the exclusion clause and deadlines for responding to complaints are being amended *:
|
|
Escrow Account |
The provisions of our regulations that concern the exclusion clause and deadlines for handling complaints are being amended *:
|
|
Electronic Escrow Account |
The provisions of our regulations that concern the exclusion clause and deadlines for responding to complaints are being amended *:
|
|
Cash services
|
The provisions of our regulations that concern the exclusion clause and deadlines for responding to complaints are being amended *:
Polish version
Polish version
|
|
Direct debit - Payee Direct debit - Payer |
The provisions of our regulations that concern the exclusion clause and deadlines for responding to complaints are being amended *:
|
|
Financial markets (All products) |
The provisions of our regulations that concern the exclusion clause and deadlines for responding to complaints are being amended *:
|
|
Financial markets:
|
The provisions of our regulations that concern the exclusion clause and deadlines for responding to complaints are being amended *:
|
|
Custody services |
The provisions of our regulations that concern the exclusion clause and deadlines for responding to complaints are being amended *:
|
|
SME Package |
The provisions concerning deadlines for responding to complaints are being amended *:
Polish version
Polish version
|
|
mBank InvoiceNet |
The provisions concerning deadlines for responding to complaints are being amended *:
|
|
Credit risk products |
For credit risk products that represent payment services, we apply the provisions of PSD2.
|
|
Credit risk products that operate outside the Regulations for sharing credit risk products (Financing suppliers)
|
The provisions concerning deadlines for responding to complaints are being amended *:
|
(*)
Exclusion clause:
We may not apply some of the provisions of the Payment Services Act of 19 August 2011. The exclusions concern: Chapter II of the Act (except for Article 32a) as well as Articles 34, 35-37, 40(3)-(4), 45, 46(2)-(5), 47, 48, 51, and 144-146 (and, whenever acceptable, other laws which modify or amend the said provisions).
Complaints:
Our deadlines for responding to complaints are now shortened to 15 and 35 working days. So far, this deadline has been 30 and 60 calendar days.
Description of changes in the complaint clause:
1. The customer may file a complaint in connection with our provision of services under the Agreement.
2. The complaints may be filed with every organizational unit of our bank providing customer service. The complete list of addresses is published on mBank Group’s website.
3. Complaints may be filed in writing, verbally (by phone or in person during a meeting with an employee of our Bank) or electronically (in particular through the electronic banking system mBank CompanyNet).
4. A customer’s complaint should contain:
a detailed description of the event giving rise to reservations,
the customer’s expectations regarding the way of solving the complaint,
bank account number and name as well as the REGON number of the Customer
data of the person filing the complaint (first name, last name, phone number and e-mail address).
5. We handle complaints forthwith, as soon as possible. The time limit for providing an answer should not exceed 15 business days from the date of our receipt of the complaint. In particularly complex cases which make it impossible to handle a complaint and provide an answer within 15 business days, it is admissible to extend this deadline by a maximum of 35 business days. We will notify the customer that we need more time to handle the complaint.
6. Having handled the complaint, we provide the customer with an answer (result of the complaint proceedings) in writing or with the use of other durable medium.
7. In the event when the claims arising from the complaint are not acknowledged, the customer may ask us for reconsideration of the complaint within 14 days from the date of receipt of our answer to the complaint. The request should be made in writing and contain the same data as required for a complaint (see item 4).
8. Irrespective of the outcome of our proceedings, the customer has the right to pursue claims against us under the generally applicable law.
9. Our operations are supervised by the Polish Financial Supervision Authority.
(#) In terms of payment and prepaid cards the complaint clause refers also to a card users, who also may file a complaint - details are covered by respected regulations.
On 17 December 2018, we will also introduce additional changes in selected products, which do not follow directly from PSD2:
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mBank CompanyNet |
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|---|---|
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Financial markets:
|
We are clarifying the parties’ obligations arising from payment transactions. Therefore, we are amending the following regulations:
|
|
Trade Finance products in mBank CompanyNet |
We are organizing the documentation. The changes do not affect the rules of servicing letters of credit, guarantees and collection in the Trade Finance module of the mBank CompanyNet system.
|
|
mBank CompanyNet |
|
|---|---|
|
Financial markets:
|
We are clarifying the parties’ obligations arising from payment transactions. Therefore, we are amending the following regulations:
|
|
Trade Finance products in mBank CompanyNet |
We are organizing the documentation. The changes do not affect the rules of servicing letters of credit, guarantees and collection in the Trade Finance module of the mBank CompanyNet system.
|