NATIONAL PAYMENT INSTITUTION
Termination of the bank account agreement
We advised the national payment institution on the following project:
TERMINATION OF THE BANK ACCOUNT AGREEMENT
- Payment institutions most often use bank accounts to conduct their operations and provide payment services to users. It is becoming increasingly common for banks to terminate bank account agreements with payment institutions, which may seriously disturb your business. Meanwhile, Article 730 of the Civil Code stipulates that a bank account agreement concluded for an indefinite period may be terminated at any time based on a notice given by any of the parties; however, the bank may terminate such an agreement only for good reasons. In addition, the Payment Services Act provides that, among other things, banks are required to provide payment institutions and other non-bank payment service providers, upon request, with access to their payment account services on an objective, non-discriminatory and proportionate basis. The access is intended to enable these entities to render payment services in smooth and efficient manner.
- As the bank made a statement of termination of a bank account agreement without good cause, we supported our client, the national payment institution, in negotiations with the bank to ensure that the institution could continue using the services of the bank without any problems.
The advisory services of DLK Legal included:
- analysis of the reasonability, legality and effectiveness of the termination of the bank account agreement by the bank,
- support of the national payment institution in negotiating with the bank to ensure that the bank does not cease to provide services or perform the bank account agreement,
- other steps to ensure that the bank does not discontinue the bank account agreement.
Lawyers involved in the project:
Krzysztof Korus
attorney-at-law, partner Krzysztof Korus
Bartosz Wyżykowski
attorney-at-law, partner Bartosz Wyżykowski
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