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Information for companies on Government Emergency Ordinance no. 113 /2009 concerning the payment services

General information

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Cash deposited to or withdrawn from a payment account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.

Transaction refusal.

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).

Transaction correction.

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.

Dear Customers,

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.

UniCredit Bank

INFORMATION FOR DEPOSITORS ON DEPOSIT GUARANTEE

Information provided to clients pursuant to art. 43 of Government Ordinance no. 39/1996 modified by Government Emergency Ordinance no. 131/December 28, 2010

The deposit guarantee fund in the banking system is meant to protect depositors by guaranteeing deposits (including interest) held by residents and non-residents, with the credit institutions participating in the Fund in case of bankruptcy of such institution. The guarantee consists in the payment of compensations limited to the level of the guarantee ceiling.

UniCredit Bank SA is participating in the Bank Deposit Guarantee Fund; deposits are guaranteed, by case, by the Fund within the limits and under the law conditions.

I. Types of guaranteed deposits
Guaranteed are the deposits in any currency registered with the credit institutions, belonging to individuals and legal persons, including entities without legal personality, except for deposits belonging to the categories of deposits provided in the List of non-guaranteed deposits, annex to Ordinance no. 39/1996, republished

Deposit - any credit balance, including the due interest, from funds available in an account or transitory situations deriving from current banking operations that the credit institution must refund, according to the applicable legal and contractual dispositions, as well as any obligation of the credit institution justified by a debt security issued by such, except for the obligations set forth in paragraph (6) of art. 159 of Regulation No. 15/2004 on the authorization and functioning of investment management companies, undertakings for collective investment and depositors

II. Types of deposits excluded from the payment of compensations - non-guaranteed deposits:

Deposits, other than the ones under the provisions of art. 7 paragraph (3) of Government Ordinance no. 39/1996, republished, of credit institutions made in their own name and account
Instruments that fall under the incidence of the definition of own funds, pursuant to the regulations of the National Bank of Romania on own funds of credit institutions
Deposits of financial institutions, as defined in the Government Emergency Ordinance no. 99/2006 on credit institutions and capital adequacy, as approved with amendments and supplements by Law no. 227/2007, as subsequently amended and supplemented, except for non-banking financial institutions of mutual funds
Deposits insurers and reinsurers, as defined by the legislation regarding the insurance and insurance supervisory activity
Deposits of central, local and regional public authorities
Deposits of undertakings for collective investment, as defined by the capital market legislation
Deposits of pension funds
Deposits belonging, as the case may be, to administrators, directors, managers, members of the supervisory board, auditors, significant shareholders of the concerned credit institution
Deposits of depositors with a statute similar to those mentioned at number 8 within other companies of the credit institution group
Deposits of the relatives of the individuals mentioned at numbers 8 and 9, namely spouses and relatives and relatives by affinity, as well as of third parties acting in the name of the depositors mentioned at numbers 8 and 9
Deposits with the credit institution of companies of the same group
Non-nominative deposits
Transferable securities similar to the debt issued by the credit institution, as well as obligations deriving from own acceptances and promissory notes
Deposits of economic entities that by their dimensions do not belong to the category of microenterprises, small and medium-sized-companies, pursuant to the provisions of Law no. 346/2004 on the encouragement of the incorporation and development of small and medium-sized enterprises, as subsequently amended and supplemented.

No compensations shall be due for deposits resulting from transactions regarding which final court resolutions have been rendered for money laundering, according to the law, the classification of deposits in this category being competence of the Guarantee Fund, according to the law.

III. Guarantee ceiling level
As of first of January, 2011, the ceiling per each guaranteed depositor, individual and legal entity and per credit institution represents the equivalent in RON of EUR 100,000, pursuant to the Government Emergency Ordinance no. 131 of December 28, 2010 amending and supplementing Government Emergency Ordinance no. 39/1996 on the establishment and operation of the Bank Deposit Guarantee Fund.

IV. Calculation of compensations
The level of the compensation is determined by the deduction from the amount of all guaranteed deposits held by the guaranteed depositor with that credit institution on the date at which the deposits become unavailable, of the total value of enforceable claims that the credit institution has on the respective depositor on the same date. The payable compensation is limited to the level of the applicable guarantee ceiling pursuant to Ordinance no. 39/1996, republished.

The equivalent in RON of the guarantee ceiling and amounts in foreign currencies taken into account when determining compensation shall be calculated using the exchange rates for such foreign currencies, communicated by the National bank of Romania the date at which deposits became unavailable. For deposits placed in foreign currencies different from the ones that the national Bank of Romania communicates the currency exchange for, the equivalent in RON of the amounts in foreign currencies taken into account when determining compensations shall be calculated based on the last currency exchange practiced by the credit institution for such foreign currency before the date at which deposits became unavailable.

In case of a common account, the compensation level shall be determined pursuant to Government Ordinance 39/1996, amended, for each guaranteed depositor holding a share in the account balance, taking into account the share that it is entitled to according to the contract and/or the law. In absence of such provisions, in order to determine compensations, the balance of the common account shall be divided into equal parts between such depositors.

In case of a common account over which several persons have rights in their capacity of members of a lucrative association, associations or groups of the same nature, without legal personality, in order to determine the level of the compensation, the deposit in the common account shall be treated as if it belonged to a single depositor.

Should a depositor not be entitled to amounts in an account, the amounts it is not entitled to shall be included in the calculation of the compensation owed to the person entitled to them, provided that the person entitled is identified or identifiable before the date at which the deposits became unavailable. Should there be several entitled persons, in order to determine the compensation of each person, the provisions of paragraph (2) shall apply accordingly.

If a guaranteed depositor is under criminal prosecution for money laundering offences or for money laundering-related offences, upon request of the legally enabled bodies, the Fund suspends the payment of the compensation until the date at which it receives the proof of release from criminal prosecution, suspension of criminal prosecution, acquittal or, as the case may be, suspension of the criminal trial regarding such case.

V. Payment of compensations
According to the law, compensation represents an amount that the Fund pays to each guaranteed depositor for unavailable deposits, irrespective of their number, within the guarantee ceiling and pursuant to Government Ordinance 39/1996, amended.

The deposit guarantee fund in the banking system ensures the payment of compensations to guaranteed depositors, pursuant to the conditions and limits set forth in Government Ordinance 39/1996, amended.

An unavailable deposit is the deposit due and receivable that has not been paid according to the applicable legal and contractual conditions by a credit institution in any of the following situations: (i) the National Bank of Romania found that such credit institution is not able, due to reasons related directly to its financial condition, to pay the deposit and has no immediate perspectives to do it (situation applicable as of August 30, 2009); (ii) a court resolution has been rendered for the initiation of the bankruptcy of the credit institution before the National Bank of Romania certifies the situation set forth at (i);

Within 30 calendar days, interval that, as of December 31, 2010 shall be reduced to 10 business days from the date at which the deposits become unavailable, the Fund shall establish the date of commencement of the payment of compensations, duration of payment and payment modalities, this information being published on the Fund website and in 2 national newspapers, by the Fund’s care, as well as at the premises of the territorial units of the credit institution whose deposits have become unavailable, by the care of such credit institution and the credit institution authorized by the Fund to make the payment of compensations.

As of December 31, 2010, the payment of compensations shall star within 20 working days from the date at which deposits became unavailable. The National Bank may approve, at the request of the Fund in absolute exceptional circumstances, an extension period for commencement of payment of compensation. with 10 working days.

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:

MasterCard fees

Visa Fees

Dear Client,

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,office@asfromania.ro;
National Authority for Consumer Protection (ANPC) – Bucharest, no. 72 Aviatorilor Boulevard, Sector 1, office@anpc.ro; and
Competent courts to settle disputes

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