Notice No. 19/GBM/2017, of December 11 – Amendment to Notice No. 13/GBM/2017, of June 9 – Regime of Commissions and Charges Relating to Financial Services and Respective Nomenclature

NOTICE NO. 19/GBM/2017
Maputo, December 11, 2017

SUBJECT: Amendment to Notice No. 13/GBM/2017, of June 9 – Regime of Commissions and Charges Relating to Financial Services and Respective Nomenclature.

Within the framework of implementing strategic financial inclusion actions approved by the Government of Mozambique, the Bank of Mozambique approved Notice No. 13/GBM/2017, of June 9, which reinforced the regime of commissions and charges relating to financial services and respective nomenclature, previously established by Notice No. 5/GBM/2009, of June 10.

Given the need to ensure that credit institutions and financial companies complete the alignment of their commission and charge designations and IT platforms with the mandatory provisions of the aforementioned Notice, as well as to adjust the frequency of certain operations set forth in Article 7, the Bank of Mozambique, exercising the powers conferred upon it by Article 44 and paragraph 4 of Article 45 of Law No. 15/99, of November 1, as amended by Law No. 9/2004, of July 21 – Credit Institutions and Financial Companies Law, as well as by paragraph d) of paragraph 2 of Article 37 of Law No. 1/92, of January 3 – Organic Law of the Bank of Mozambique, determines:

Article 1
Article 7 of Notice No. 13/GBM/2017, of June 9, which approves the regime of commissions and charges relating to financial services and respective nomenclature, is amended, and shall henceforth read as follows:

“Article 7
Free financial services

1. […]:
   a) […]:
   (i) […];
   (ii) […];

(iii) […];
(iv) […];
(v) […];
(vi) […];
(vii) Balance inquiry, twice per month, at the counter; (viii) Transaction history inquiry, twice per month, at the counter. b) […]:
c) […]:
d) […]:
(i) […];
(ii) […];
(iii) […];
(iv) First two printouts, per month, of balance at ATM and POS; (v) First two printouts, per month, of transactions at ATM; (vi) First two printouts, per month, of statements and mini-statements at ATM and POS; (vii) First two withdrawals, per month, at ATM; (viii) First two PIN changes per month. e) […]; f) […]:
g) […]:
(i) Execution of two transfers, per month, at the counter or at ATM;

(ii) Execution of one transfer per day, through electronic channels, regardless of the channel used. h) […]. i) […]. j) […].
2. […].
3. […].”

Article 2.
The deadline for compliance with the obligation to align with the common nomenclature and provisions of Notice No. 13/GBM/2017, of June 9, as provided in its Article 17, is extended until March 30, 2018.

Article 3
This Notice enters into force on the date of its publication.

Article 4
Any doubts arising from the interpretation and application of this Notice shall be submitted to the Payments Systems Department of the Bank of Mozambique.

Rogério Lucas Zandamela
Governor