Decision on Presentation and Format of the Fee Information Document for the Most Representative Services Linked to a Consumer Payment Account

Pursuant to Article 44 paragraph 2 item 3 of the Central Bank of Montenegro Law (OGM 40/10, 46/10, 06/13, 70/17) and Article 8 paragraph 6 of the Law on Comparability Of Fees Related to Consumer Payment Accounts, Payment Accounts Switching and Payment Account with Basic Features (OGM 145/21), the Central Bank of Montenegro Council, at its meeting held on 12 September 2022, passed the following DECISION ON PRESENTATION AND FORMAT OF THE FEE INFORMATION DOCUMENT FOR THE MOST REPRESENTATIVE SERVICES LINKED TO A CONSUMER PAYMENT ACCOUNT Subject matter Article 1 This Decision shall prescribe the presentation and format of the fee information document for the most representative services linked with a consumer payment account (hereinafter: the fee information document), containing the list of services from the List of the Most Representative Services offered by the payment service provider and corresponding fees and interest (hereinafter: the fee) for each service. Application Article 2 A payment service provider shall provide a separate Fee Information Document in respect of each of the payment accounts it offers to consumers. Notwithstanding the provision of a payment account with basic features referred to in Chapter “IV. PAYMENT ACCOUNT WITH BASIC FEATURES” of the Law on Comparability Of Fees Related to Consumer Payment Accounts, Payment Accounts Switching and Payment Account with Basic Features (OGM 145/21) (hereinafter: the Law), where a payment service provider offers only one payment account to consumers that can be combined with different packages of services referred to in Article 8 paragraph (4) of the Law, the payment service provider may produce more than one Fee Information Document in respect of that account, provided that each Fee Information Document contains at least one package of services. Presentation and format of the Fee Information Document Article 3 A Fee Information Document must: a) be presented in A4 portrait format; b) contain the title “Fee Information Document” at the top of the first page, with the title centred and the logo of the payment service provider positioned at the top left-hand side of the document in bold type; c) use font type Arial or another font type similar to Arial and font size 11, with exceptions for the title “Fee Information Document”, which uses font size 16 in

2 bold type, font size 14 in bold type for the headings, and font size 12 in bold for the sub-headings, unless an increase in the font size or use of braille font type for visually impaired persons is agreed between the consumer and the payment service provider; d) be produced in black and white, with exception of the logo of the payment service provider which must be presented in a different colour; e) contain the headings in semi-dark grey colour; f) contain the name of the payment service provider that operates the consumer payment account that must be in bold type and aligned left in relation to the title of the Fee Information Document; g) contain the payment account name that must be in bold type, left aligned and below the name of the payment service provider; h) contain the date when the payment service provider last updated the Fee Information Document, left aligned and included below the account name; i) contain the introductory statement specifying in particular all relevant documents relating to pre-contractual and contractual information on all services, as well as fees for services not included in the List of the Most Representative Services linked to a Consumer Payment Account, set out in the Decision on Establishing the Most Representative Services Linked to a Consumer Payment Account (hereinafter: the Decision on the Most Representative Services); j) contain the “Services and Fees” Table; k) contain the “Services and Fees Package” Table; l) contain “Information on Additional Services” il) have its pages numbered. The Fee Information Document template shall be provided in Annex 1 to this Decision and form an integral part thereof, and the description of the fees referred to in the “Services and Fees” Table shall be provided in Annex 2 to this Decision and form an integral part thereof. Filling in the Fee Information Document Article 4 Payment service providers shall fill in the Fee Information Document in the manner prescribed in Articles 3 to 9 of this Decision. Payment service providers shall adhere to the order of information, headings and sub-headings provided in the Fee Information Document template. Payment service providers may modify the Fee Information Document exclusively in the manner prescribed in this Decision. “Services and Fees” Table Article 5 Where the payment service providers offer services prescribed by the Decision on the Most Representative Services, they shall list such services in the Fee Information Document together with corresponding fees for such services specifically in the “Services and Fees” Table as follows:

3 a) the services shall be listed in the column “Service”, left aligned, in bold type; b) each service shall be listed only once and shall be displayed under the respective sub-heading shown in the Table (e.g. operating the payment account shall be listed under sub-heading “General Payment Account Services”); c) the fees corresponding to the services shall be shown in the column “Fee”, right aligned; d) where the fee is charged with regular frequency, the frequency (monthly, annually, etc.) shall be indicated in the column “Fee”, left aligned, followed by the corresponding fee for that period, right aligned, and the total annual fee shall be disclosed on the separate line, left aligned, in bold type, and using the wording “Total Annual Fee” with the corresponding fee amount disclosed right aligned; Where none of the services offered by a payment service provider are defined in the Decision on the Most Representative Services, the entire column with the name of that service shall be deleted. Where payment service provider does not offer one or more services defined in the Decision on the Most Representative Services, or where the service is not made available for that payment account, the phrase “Service not available” shall be used. Where separate fees are charged in one or more of the ways specified in items a) to c) of this paragraph, payment service providers shall provide, in the column “Fee” of that service and on a separate line, left aligned, a description of each instance, channel or condition of charging of the fee, which is provided right aligned (“types of fees”): a) for different fee-charging instances of the provision of the same service, such as an initial set-up fee and subsequent execution fee for the same service; b) for different channels through which the same service is requested, used or provided (e.g. by phone, online, or in a branch); c) depending on whether a specific condition for the same service is met, (e.g. adherence to a minimum or maximum threshold amount for credit transfers or cash withdrawals). Where fees are charged dependent on a combination of several types of fees, such as fees that differ by channel and are then further separated depending on whether a threshold amount is met, payment service providers shall, in addition to applying paragraph (4) of this Decision, right align the description of each additional type of fee. Package of services charged as part of fees under the sub-heading “General Account Services” Article 6 Where a package of services linked to a payment account is charged as part of the fees under the sub-heading “General Account Services”, all services included in the package, regardless of whether they are included in the List of the Most Representative Services linked to a Consumer Payment Account, shall be listed in the Table in the column “General Services Linked to a Payment Account”, in the section on package of services. Payment service providers shall include information on the additional fee for any service that exceeds the quantity covered by the package of services as set out in Article 8 of this Decision.

4 Where the number of all services covered by the package of services is not limited, payment service providers shall delete the statement at the bottom of the row “Services beyond these quantities will be charged separately”. The entire row on package of services shall be deleted, where a package of services is not offered with the payment account and where the package of services is charged separately from any fees for services linked to a payment account. Package of services charged separately from fees under the sub-heading “General Account Services” Article 7 Where a payment service provider offers with a payment account a package of services linked to a payment account, and the package is charged separately from any fees under the sub-heading “General Account Services”, the payment service provider shall include the following information in the “Services and Fees” Table: a) a list of all services included in the package, regardless of whether they are defined in the Decision on the Most Representative Services; b) the quantity of each service covered by the package fee (e.g. the number of services or an indication that the number of services is not limited); c) the package fee, in the column ‘Fee’, right aligned. Where the package of services is charged with regular frequency, the frequency shall be displayed in the ‘Fee’ column and left aligned, with the total annual fee displayed on the separate row directly underneath the frequency, in bold type and using the wording “Total Annual Fee”. Payment service providers shall include information on the additional fee for any service that exceeds the quantity covered by the package of services as set out in Article 8 of this Decision. Where the number of all services in the package of services is not limited, payment service providers shall delete the statement at the bottom of the table that reads ‘Services beyond these quantities will be charged separately’. Where more than one package falling under paragraph (1) of this Article is included in the Fee Information Document, payment service providers shall provide the information in accordance with paragraphs (1) to (4) of this Article for each package in a separate table, indicating the brand name of the package of services, where applicable. Payment service providers shall delete the entire table, where the package of services is not offered with the payment account, or where the package of services is charged as part of the fee for any service linked to a payment account. Table on additional fees for services exceeding the quantity covered by a package of services linked to a payment account Article 8 Payment service providers shall include in a separate Table “Information on Additional Fees” the information on fees for any service that exceed the quantity covered by a package of services referred to in Articles 6 and 7 of this Decision, if this information is not

5 included in the “Services and Fees” Table, or where the corresponding fee for a specific service is different than shown in that Table. Where payment service providers offer more than one package, and the additional fees referred to in paragraph (1) of this Article differ dependent on the package, payment service providers shall list the different fees separately for each package and use the brand name of the package of services, where applicable. When completing the table referred to in paragraph (1) of this Article, payment service providers shall follow the same presentation and structure as set out in this Decision, where applicable. Where a Fee Information Document does not include any information on packages of services, payment service providers shall delete the Table referred to in paragraph (1) of this Article. Brand name Article 9 Where a particular brand name is used, the brand name shall follow directly after the name of the service, using the font type Arial or another font type similar to Arial and font size 11 and in brackets. Use of electronic means Article 10 Where the Fee Information Document is provided to the consumer by electronic means, provided that it has been completed in the manner prescribed in Articles 3 to 9 of this Decision, the payment service providers may modify the Fee Information Document only in the following ways: a) increase the font sizes, provided that the proportion of sizes as set out in Article 3 paragraph (1) item c) of this Decision is retained; b) where the dimensions of the electronic tools are such that using several tables and columns would make the Fee Information Document difficult to read, use a single row or a single table in such manner that the order of information, headings and sub-headings are retained; c) use electronic tools, such as layering and pop-ups, provided that the title of the Fee Information Document, the logo of the payment service provider, introductory statements, headings and sub-headings, are displayed prominently and the order of information is retained. The use of the electronic tools referred to in paragraph (1) item (c) of this Article shall not be intrusive that it could distract the consumer from the information in the Statement of Fees. Information provided through layering and pop-ups shall be limited to the information referred to in this Decision.

6 Article 11 This Decision shall enter into force on the eighth day following that of its publication in the Official Gazette of Montenegro, and it shall apply as of 9 January 2023. THE COUNCIL OF THE CENTRAL BANK OF MONTENEGRO Decision number: 0101-6290-2/2022 CHAIRMAN Podgorica, 12 September 2022 GOVERNOR, Radoje Žugić, m.p.

7 ANNEX 1

(logo of the payment service provider) Fee Information Document Name of the payment service provider: Account name: Date: This document contains information on the most representative services linked to a payment account. Where a payment service provider does not provide a service included in the list of the most representative services, it shall indicate so. Fees may also apply for the provision of services not listed in this document, and a more detailed pre-contractual and contractual information on all services, including the fees for services not included in the List of the most representative services, are provided in the documents 1 (….). A payment service provider shall make available to the consumer, free of charge, a glossary of payment services containing terms and definitions of the services included in the List of the most representative services, as well as other definitions if any. Service Fee General Account Services Operating the payment account The following services may be used within the specified payment account and/or package of services: (provide a short and clear list of services linked to a payment account, or services included in the package and their quantity, not including the definitions and description of services). Services that exceed the quantity covered by the package of services shall be charged separately. Internet payment Mobile payment Payments (excluding cards)

1Provide all relevant documents relating to pre-contractual and contractual information on all services, including the fees for services not included in the List of the Most Representative Services in brackets.

8 National payment transaction – transfer of funds on a payment account in Montenegro International payment transaction – transfer of funds on a payment account abroad International payment transaction – receipt of funds from abroad Standing order Payment of cash to a payment account Cards and cash Issuing of credit cards Issuing of debit cards Cash withdrawal – using a debit card at the ATM Cash withdrawal – using a credit card at the ATM Overdraft on a payment account Overdraft Other services Notification by means of remote communication (e.g. SMS) Package of services Fee Brand name Services that exceed the quantity covered by the package of services shall be charged separately.

9 Information on additional services Information on fees for services that exceed the quantity covered by the package of services Service Fee Brand name

10 ANNEX 2 Description of fees for the most representative services linked to a consumer payment account When drafting the Fee Information Document, payment service providers shall include the following fees, individually, for the most representative services:

1. Operating the payment account The fee for operating the payment account which is charged on a monthly basis and does not include the fee for issuing a debit card and the fee for opening a payment account is presented.
2. Internet payment The fee for using the internet payment service which is charged on a monthly basis is presented. This service does not include the fee for contracting services and the fee for software or hardware for performing specific actions (e.g. token)
3. Mobile payment The fee for using mobile payment service which is charged on a monthly basis is presented. This service does not include the fee for contracting services.
4. National payment transaction – transfer of funds on a payment account in Montenegro The fee is presented depending on the manner of execution of the transaction (e.g. internet or mobile payment) or the type of transaction (transfer to a payment account of the payment service provider from a payment account on another payment account with that or another payment service provider in Montenegro).
5. International payment transaction – transfer of funds on a payment account abroad The fee is presented depending on the manner of execution of the transaction (e.g. internet or mobile payment).
6. International payment transaction – receipt of funds from abroad The fee charged to a consumer upon the receipt of funds from abroad on the consumer account in Montenegro is presented.
7. Standing order For the standing order service a fee that is charged for contracting the standing order service and a fee for the execution of transactions on the basis of a standing order are presented, and the fees are presented depending on the account for which they are executed.
8. Payment of cash to a payment account The fee for the payment of cash by the consumer on their own payment account with the payment service provider is presented.

11 9. Issuing of credit cards The fee for issuing the card and the monthly/annual fee for the use of this service are presented. 10. Issuing of debit cards The fee for issuing the card and the monthly/annual fee for the use of this service are presented. 11. Cash withdrawal – using a debit card at the ATM The fee for the withdrawal of cash using a debit card at the ATM is presented. The fees are presented depending on the ATM (the ATM of the credit card issuer or another ATM in Montenegro or abroad). 12. Cash withdrawal – using a credit card at the ATM The fee for the withdrawal of cash using a credit card at the ATM is presented. The fees are presented depending on the ATM (the ATM of the credit card issuer or another ATM in Montenegro or abroad). 13. Overdraft The fees and interests charged to a consumer on the basis of a contract for the money the consumer borrows when there are no funds in the account are presented. 14. Notification by means of remote communication (e.g. SMS) The fees for the service that includes sending a message to a consumer regarding any activity in the payment account.