Regulatory Alerts2017-12-25
Added
Amendments to Proper Conduct of Banking Business Directive no. 367 Regarding E-Banking
The Proper Conduct of Banking Business Directive no. 367 is amended to require banking corporations to provide voice message alternatives for One Time Passwords for customers unable to receive or read SMS. New Chapter H.1 mandates that banking corporations respond to customer requests to share current-account balance information with other financial entities within three business days, allowing transfer frequencies of daily, every three days, weekly, or monthly. Requests must be submitted via agreed E-Banking services or at a branch, and banking corporations must notify all account holders of the execution or changes to such requests in writing.
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Topics
open-banking
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