Notice No. 10/GBM/2017, June 7 – Amending Notice No. 1/GBM/2014 of June 4 – Bank Card Regulation

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BOLETIM DA REPÚBLICA — PUBLICAÇÃO OFICIAL DA REPÚBLICA DE MOÇAMBIQUE SUMÁRIO A V I S O The matter to be published in the «Boletim da República» must be submitted as a duly authenticated copy, one for each subject, containing the necessary indications and the following endorsement, signed and authenticated: For publication in the «Boletim da República». IMPRENSA NACIONAL DE MOÇAMBIQUE, E.P. Banco de Moçambique:
Aviso n.º 10/GBM/2017:
Amends Notice No. 1/GBM/2014, of June 4 – Bank Card Regulation.
Wednesday, June 7, 2017 I SÉRIE — Number 88
BANCO DE MOÇAMBIQUE
Aviso n.° 10/GBM/2017 of June 7
Having the need to amend Notice No. 1/GBM/2014, of June 4, which approves the legal regime for the issuance and use of bank cards, to adjust to the evolution recorded in the field of payment instruments, the Bank of Mozambique, using the powers conferred by the combined provisions of paragraph 4 of Article 17 of Law No. 2/2008, of February 27 – National Payments System Law, Article 118 and paragraph a) of Article 119, both of the Regulation of the Law on Credit Institutions and Financial Companies, approved by Decree No. 56/2004, of December 10, determines:

ARTIGO 1
(Alterations to Notice No. 1/GBM/2014, of June 4) Articles 1, 3, 10, 17, 19 and 25 of the Bank Card Regulation, approved by Notice No. 1/GBM/2014, of June 4, are amended and shall henceforth read as follows:

«ARTIGO 1
Object
This Regulation establishes the legal regime for the issuance and use of bank cards.

ARTIGO 3
Definitions
(...) a) … b) … c) … d) … e) … f) … g) … h) … i) National Bank Card: a bank card that may be used only within national territory; j) … k) … l) … m) … n) … o) … p) … q) … r) … s) … t) … u) …

ARTIGO 10
The heading of Article 10 shall henceforth read:
«Duty to Inform the Holder».

ARTIGO 17
Credit Card Account Statement

1. …
2. …
   a) The transactions carried out and their respective location; b) … c) … d) … e) … f) … g) … h) …

ARTIGO 19
Loaded Value

1. Prepaid cards may be loaded against the delivery of cash in Meticais to the issuing entity, via bank transfer, by bank card or by other forms accepted in banking practice.
2. …

ARTIGO 25
Adaptation of Contracts and Procedures

1. …

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2. Without prejudice to the provisions of the preceding paragraph, issuing entities must adapt their contracts and procedures to the regime established in this Regulation within 90 days from the date of its entry into force.»

ARTIGO 2
(Additions to Notice No. 1/GBM/2014, of June 4) Paragraph q) of paragraph 1 of Article 5, Article 10-A and paragraph 4 of Article 22 are added to Notice No. 1/GBM/2014, of June 4, which approves the Bank Card Regulation, with the following wording:

«ARTIGO 5
Minimum Content

1. …
   a) … b) … c) … d) … e) … f) … g) … h) … i) … j) … k) … l) … m) … n) … o) … p) … q) The transactions whose payments may be made using a bank card within national territory and abroad or to foreign countries.
2. …
3. …

ARTIGO 10-A
Duty to Inform the Bank of Mozambique
Issuing entities must provide information on transactions carried out using bank cards, in accordance with the format, model and deadline defined by a Circular of the Bank of Mozambique.

ARTIGO 22
Prevention and Security Measures

1. …
2. …
3. …
4. The issuing entity must, in particular, adapt its internal control systems and mechanisms to prevent or prohibit the use of bank cards contrary to the provisions of paragraphs l) and q) of paragraph 1 of Article 5 of this Notice, and to the payment procedures established in other legislation, namely Exchange Legislation and prevention and combating of money laundering and terrorist financing.»

ARTIGO 3
(Clarification of doubts)
Doubts arising in the interpretation and application of this Notice shall be submitted to the Payments Systems Department of the Bank of Mozambique.

ARTIGO 4
(Entry into force)
This Notice enters into force on the date of its publication.

ARTIGO 5
(Republication)
The normative text of Notice No. 1/GBM/2014, of June 4, with the amendments introduced by this Notice, is republished in the annex.
Maputo, April 3, 2017. – Governor, Rogério Lucas Zandamela.

Anexo
Bank Card Regulation
CAPÍTULO I
General Provisions
ARTIGO 1
Object
This Regulation establishes the legal regime for the issuance and use of bank cards.

ARTIGO 2
Scope of Application
This Regulation applies to credit institutions and financial companies authorized to issue bank cards, in accordance with applicable legislation, as well as to the holders and users of said cards.

ARTIGO 3
Definitions
For the purposes of this Regulation, it is understood that:
a) ATM (Automated Teller Machine): the automated teller machine that allows banking operations to be carried out using bank cards and other applicable forms; b) Payment Channel: the terminal available for the use of bank cards or banking operations, namely ATM, POS, mobile and landline telephones, and the Internet; c) Bank Card: the payment instrument, generally in the form of a plastic card, made available by the issuing entity to the holder so that he or she, through access to a telecommunications network and based on the bank account associated with the card or the loaded balance, may carry out banking operations. The bank card, according to its function, may be credit, debit or prepaid; d) Credit Card: the bank card associated with an account-card and a credit line, granted by the issuing entity, which enables its holder or user to carry out banking operations permitted under their contract; e) Debit Card: the bank card associated with a current deposit account at the issuing entity, which enables its holder to use the balance therein to carry out banking operations permitted under their contract; f) Simulation Card: the card designed and used by the issuing entity to simulate banking operations, within the framework of explanatory actions on the correct use of bank cards; g) Multi-brand Card: the bank card that aggregates several payment network brands; h) Prepaid Card: the bank card associated with an account-card and stores a certain amount, delivered or reloadable in advance by the holder to the issuing entity, which enables its holder or user to use the incorporated balance to carry out banking operations permitted under their contract; i) National Bank Card: the bank card that may be used only within national territory; j) International Bank Card: the bank card that may be used within national territory and abroad; k) Client: the person who contacts the issuing entity to contract the issuance of a bank card; l) Account-card: the account associated with the prepaid or credit card, different from a current deposit account, in which movements or operations related to their use are recorded, namely cash withdrawals, payment of goods and services, advances in money and debt amortizations; m) General Conditions for the Use of Bank Cards: the set of rights and duties of issuing entities and holders, as well as the rules and measures to be observed in the use, storage, conservation and security of the bank card, and other information established in the contract by issuing entities, under this Regulation; n) Validity Date: the deadline date indicated on the bank card for its use; o) Overdraft: the facility granted to a debit card holder to move the current deposit account without funds being provided, leaving him or her with a negative balance; p) Issuing Entity: the credit institution or financial company authorized to issue bank cards, under applicable legislation; q) Banking Operations: the transactions carried out by the holder or user of
the bank card, namely cash withdrawal and deposit, balance and statement inquiry, fund transfer and payment of goods and services; r) PIN (Personal Identification Number): the personal identification number that constitutes the holder's secret personal code; s) POS (Point of Sale): the automatic payment terminal that allows bank cards to be used to make payments or other applicable banking operations; t) Holder: the natural or legal person who contracts the issuance of a bank card and is permitted to use it, in accordance with the terms and conditions established in the contract; u) User: the natural person authorized to use the bank card.

CAPÍTULO II
Bank Card Issuance Contract
ARTIGO 4
Form

1. Without prejudice to the provisions of this Regulation, the relationship between the issuing entity and the holder shall be governed by a written contract consisting of the general conditions for the use of bank cards, which may take the form of a standard form contract.
2. The contract shall be drafted in Portuguese, in clear and objective language, and in characters with a minimum size of 12 points, so as to allow easy reading by a reader with average visual acuity.

ARTIGO 5
Minimum Content

1. The bank card issuance contract shall contain the rules governing the relationships between the issuing entity and the holder, as well as the general conditions for the use of bank cards, namely:
   a) The name of the issuing entity and the holder, as well as their respective domiciles; b) The contact channel through which the issuing entity and the holder or user may send or receive notifications and any communications in case of need; c) A description of the measures that the holder or user must take to ensure the security and conservation of the bank card; d) A reference to all types of charges that may result for the holder from the conclusion of the contract or the use of the bank card, with the issuing entity, without prejudice to recourse to other communication means, specifying in all its branches, in a highly visible and easily accessible public location, all commissions and other charges in Meticais and the timing of their collection, namely issuance cost, annual fees, commissions and interest rates; e) The percentage of the overdue interest rate or the method used for its determination; f) The reference exchange rates of the day of the transaction and the applicable determination method for calculating the cost attributable to the holder for transactions settled in foreign currency; g) The interest rates applicable to overdraft uses through debit cards, if permitted, or the method used for their determination; h) The payment modalities and deadlines for balances in debt and their effects, in the case of debit and credit cards; i) The conditions for refunding unused amounts, in the case of prepaid cards; j) The guarantees required to obtain a credit card, if applicable; k) The maximum daily value for each transaction carried out with the bank card by the holder, with the issuing entity ensuring that said value is equal in any network within national territory, as well as that the holder may request its modification at any time;

564 I SÉRIE — NÚMERO 88 l) The situations in which the right to use the card may expire; m) The conditions under which the issuing entity has the right to demand the return of the card; n) The conditions and effects resulting from the renewal, replacement, blocking and cancellation of bank cards; o) The right and situations in which the parties may, at any time, terminate the contract and its effects; p) The reflection period granted to the holder during which he or she may withdraw from the contract, under paragraph 4 of Article 6 of this Regulation; q) The transactions whose payments may be made using a bank card within national territory and abroad or to foreign countries.
2. The issuing entity shall not alter the general conditions for use, unless there is written communication by letter or other appropriate means, with acknowledgment of receipt from the holder, at least 30 days in advance, leaving him or her with the right to recover the paid annual fee, proportionally to the remaining non-elapsed period, if he or she wishes to withdraw from the contract in case of disagreement with the proposed changes.
3. The holder is presumed to accept the proposed changes if, upon expiry of the period established in the preceding paragraph, the issuing entity has not received any written communication to the contrary from the holder.

ARTIGO 6
Issuance, Conclusion and Withdrawal

1. The bank card shall be issued upon prior and express request by the client, or at the initiative of the issuing entity in the process of renewal or replacement of a card of the same type.
2. The bank card issuance contract is only considered concluded when the client receives the card and a copy of the contract, on paper support, containing the general conditions for use subscribed and accepted by him or her.
3. At the time of delivery of the card and contract copy referred to in the preceding paragraph, the issuing entity shall obtain acknowledgment of receipt from the respective holder.
4. The holder may withdraw from the bank card issuance contract within seven working days counted from the date of its conclusion, without patrimonial consequences excluding the bank card issuance cost, and must do so by registered letter with acknowledgment of receipt to the issuing entity or by any other means proving receipt, accompanied by the return of the card.
5. The use of the bank card during the period established in the preceding paragraph constitutes a presumption of contract acceptance by the user.

ARTIGO 7
Currency of Operations
All transactions carried out with the bank card within national territory are in national currency.

ARTIGO 8
Abusive and Prohibited General Conditions

1. Abusive conditions are those contained in the bank card issuance contract that grant issuing entities disproportionate powers or advantages compared to holders, being contrary to good faith or equity.
2. For the purposes of this Regulation, general conditions for use are considered abusive and prohibited if they:
   a) Exclude or limit the liability of the issuing entity for card defects, fraud, failure or defect in payment systems or channels of issuing entities, non-compliance or defective compliance with the contract not attributable to the holder or user; b) Exclude or limit the liability of the issuing entity for damages caused to holders, users or third parties resulting from the disclosure of information concerning them provided under the bank card issuance contract, except in situations of exemption from banking secrecy provided by law; c) Exclude or limit the liability of the issuing entity for acts attributable to their employees, representatives or other persons who provide them with services on a permanent or occasional basis; d) Exclude or limit the refund of amounts to the holder, in cases provided for in this Regulation; e) Allow the issuing entity to unilaterally suspend or terminate the contract, without equal right being granted to the holder; and f) Violate provisions regarding the minimum content of the bank card issuance contract and other provisions established in this Regulation.

ARTIGO 9
Abusive and Prohibited Practices

1. Abusive and prohibited practices are the behaviors of issuing entities that violate the rights and interests of holders.
2. For the purposes of this Regulation, abusive and prohibited practices include:
   a) Failing to provide requested information or clarify doubts presented by the client or holder related to the issuance contract and general conditions for use of the card; b) Failing to promote explanatory actions for holders, under the terms and conditions defined in this Regulation; c) Issuing and/or sending a bank card without the prior and express request of the client or holder, except in situations provided for in paragraph 1 of Article 6 of this Regulation; d) Conditioning the issuance of a bank card to the performance of any type of financial operation, purchase of another product or provision of service; and e) Unfairly increasing annual fees, commissions, interest rates and other charges related to the issuance and use of bank cards.

CAPÍTULO III
Duties of the Issuing Entity
ARTIGO 10
Duty to Inform the Holder

1. The issuing entity must, in the preliminary stages, formation and execution of bank card issuance contracts, provide information in a clear, objective, adequate and personalized manner, regarding the conditions for contracting issuance and use of bank cards, transactions, charges and other related aspects, under this Regulation, as well as clarify any doubts presented by the client or holder.

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2. The issuing entity must promote, at the time of card delivery to holders, explanatory actions on the correct way to carry out all operations available in payment channels, possibly using simulation cards and/or illustrative leaflets for this purpose.
3. The issuing entity must display, in their ATMs, where they are installed or inside the respective branches, illustrations on the correct way to carry out all operations available for the type of bank card contracted and the security measures that the holder must observe in carrying out said operations.
4. The issuing entity must make available to the holder account statements associated with the bank card in Portuguese, highlighting, namely:
a) The name of the issuing entity; b) The bank card number and the respective holder's name; c) The issuance date and reference period of the statement; d) The identification of the establishment and/or payment channel where the banking operation was carried out; e) The date of execution of transactions (transaction date and value date); f) Commissions and other charges applied, including taxes, if applicable, per transaction and in an disaggregated manner; g) The currency, the amount of the transaction in that currency and its respective equivalent in Meticais, in the case of transactions carried out abroad; and h) Balances, namely available, restricted, amounts in collection and accounting.
5. Without prejudice to the provisions of applicable legislation, the issuing entity shall not charge the holder charges related to compliance with its duties to inform or prevention measures against fraud, security or regularization provided for in this Regulation.

ARTIGO 10-A
Duty to Inform the Bank of Mozambique
Issuing entities must provide information on transactions carried out using bank cards, in accordance with the format, model and deadline defined by a Circular of the Bank of Mozambique.

ARTIGO 11
Duty of Customer Service

1. The issuing entity must ensure and advertise a free customer service, in Portuguese, that allows the holder or user to contact it directly, or its representative, twenty-four hours a day by telephone, possibly complementing this means with another indicated in the contract.
2. The telephone number made available by the issuing entity for the customer service referred to in the preceding paragraph must allow direct access within national territory and abroad.
3. Telephone or written notifications made by the holder or user under this article must be, respectively, recorded or preserved by the issuing entity.

ARTIGO 12
Duty of Diligence

1. The holder must notify the issuing entity or the entity designated by it, as soon as they become aware of them and through the means indicated in the contract, of loss, theft, robbery, forgery, suspicion of counterfeiting or cloning of the card or any other form of abusive appropriation or fraudulent situation in which his or her card is involved.
2. The issuing entity must, immediately after the notification referred to in the preceding paragraph, prevent the use of the card.
3. The holder may not be held liable for uses of the card due to the facts referred to in paragraph 1 of this article, after notifying the issuing entity.
4. In case of knowledge of the facts referred to in paragraph 1 of this article, the holder must cooperate with the issuing entity, namely by providing information requested regarding the transaction in question.

ARTIGO 13
Duty to Regularize Operations

1. In transactions carried out with bank cards, issuing entities must, within 10 calendar days counted from the date of receipt of the holder's communication, regularize incorrect, unauthorized, unexecuted or defectively executed banking operations and other errors or anomalous situations.
2. The period referred to in the preceding paragraph may, for justified reasons, be extended once by a period not exceeding 35 calendar days, to ensure the holder definitive regularization of errors or anomalous situations found, with the issuing entity communicating in advance the grounds for extension to the Bank of Mozambique, as well as keeping the holder informed about ongoing proceedings.
3. Any complementary regularization procedures, namely specific audit, must be carried out within the periods referred to in the preceding paragraphs.
4. Issuing entities and payment channel holders must collaborate with each other in investigating and regularizing banking operations and anomalous situations referred to in this article.
5. The regularization referred to in paragraph 1 of this article consists of restoring the previous situation in which the holder was found, namely through the restoration of amounts that have been incorrectly debited from his or her account and/or clarifying errors or anomalous situations duly proven by a document acceptable to the Bank of Mozambique, namely specific audit report, ATM report and/or images of the disputed transaction.
6. Issuing entities must inform the Bank of Mozambique of the solution adopted regarding irregularities indicated in paragraph 1 of this article, within 5 days counted from the date of their regularization.

ARTIGO 14
Duty to Notify Card Retention, Registration and Audit

1. The enti