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  1. Payment Services Directive, Payment Accounts Act & fee information

Payment Services Directive

Here you will find the information sheet with consumer information in accordance with Article 106 of the Second EU Payment Services Directive:

Payment Accounts Act

Here you will find the following information:

  • Pre-contractual fee information in accordance with section 5 to 9 ZKG, 47 paragraph 2 ZKG
  • Glossary of services associated with a payment account
  • Provision of the comparison criteria pursuant to Section 17 Nm. 2 and 3 ZKG for operators of a comparison website

Pre-contractual fee information (§ 5 to 9 ZKG)

In accordance with Section 14 (1) No. 1 in conjunction with Section 14 (3) ZKG, we are providing you with the pre-contractual fee information below.

Glossary of services linked to a payment account

In accordance with Section 14 (1) No. 5 ZKG in conjunction with Section 14 (3) ZKG, we provide you with a glossary below that explains how certain payment transaction services work.

Provision of the comparison criteria pursuant to Section 17 Nos. 2 and 3 ZKG for operators of a comparison website

In accordance with Section 17 No. 2 ZKG in conjunction with Section 4 VglWebV and Section 17 No. 3 ZKG in conjunction with Section 5 VglWebV, we provide the following information on the branch network and the ATM network for operators of a comparison website.

Account switching assistance according to ZKG

Support when switching accounts in accordance with the Payment Accounts Act

In accordance with the Payment Accounts Act (Zahlungskontengesetz - ZKG), legal requirements for support services when using the statutory account switching assistance have been in force since 18 September 2016. With your express request for ‘Support services for account switching in accordance with the ZKG/statutory account switching assistance’, you instruct us as your new bank to initiate the account switching of your previous current account from your old bank to us.

This is how the statutory account switching assistance works

1. the starting point and therefore the main contact for a statutory account change for your current account is VietinBank as the receiving or new bank to which you wish to change your account details.

2. VietinBank transmits your account change authorisation (see PDF ‘Authorisation by the account holder for account change assistance’) to the transferring bank, i.e. to your old bank.

3. your old bank will send us - in accordance with your instructions - information about your old account after receiving the account change authorisation. In addition, the old account will be closed in accordance with your instructions.

4. after receiving the information from your old bank, VietinBank as the receiving bank or your new bank will finalise the change of account and provide further support services if you so wish.

Support services of the statutory account switching assistance

We will contact your old bank if you would like ‘Support services for account switching in accordance with the ZKG/statutory account switching assistance’. We will set up new standing orders from your previous account at your old bank to your new account at VietinBank.