Subsection 1: Common law provisions.

I. - The concepts of recurring transfers and regular transfers referred to in article L. 312-1-7 refer to any transaction credited to the customer's account by the same issuer at least twice during the thirteen months preceding the formal agreement referred to in the same article.

II. - The documentation relating to banking mobility referred to in article L. 312-1-7 that credit institutions are required to make unconditionally available to their customers free of charge clearly specifies the following information:

1° The role of the incoming institution and the outgoing institution at each stage of the banking mobility procedure, as provided for in article L. 312-1-7 ;

2° The deadlines for completing the various stages;

3° The information that the account holder may be required to provide;

4° The procedures for referring any complaints to the customer relations department;

5° The possibility of having recourse to the mediation process mentioned in article L. 316-1.

III. - In the formal agreement, the customer mentions :

1° The cancellation of all standing order transfers on their original account ² and the date on which the originating institution ceases to issue standing order transfers;

2° Whether or not he/she requests the closure of the account opened with the original institution;

3° In the event of a request to close the home account, the date from which he wishes any positive balance in this account to be transferred to the new account opened with the receiving institution.

IV. - In the event that the incoming or outgoing institution does not comply with its obligations under the banking mobility procedure referred to in article L. 312-1-7, the customer may not be charged any resulting costs or penalties.

V. - Where the account holder chooses to provide their new bank details themselves to the issuers of recurring direct debits and transfers, the receiving institution shall provide them, on paper or another durable medium within five working days of receiving their request, with model forms indicating the account details.

VI. - Upon receipt of the formal agreement referred to in Article L. 312-1-7 and on the dates indicated in this document, the originating institution :

1° Cancels the standing transfer orders ;

2° Transfer any positive balance on the original account to the account held with the receiving institution, if a request is made to close the account;

3° close this account, if so requested, once any positive balance has been transferred to the new account.

Where applicable, the originating institution shall provide the account holder, on paper or, where appropriate, on another durable medium, with any outstanding obligations or any other circumstances likely to prevent the balance from being transferred and the account from being closed.

Unless expressly requested by the customer, the sending institution shall not terminate the payment instruments before the closure date given by the account holder.

VII. - When providing the information referred to in the seventh paragraph of III of article L. 312-1-7, the incoming institution shall alert the customer to the need to ensure that the list of transactions for which the change of direct debit has been sent to the customer's creditors and debtors is exhaustive.

VIII. - The benefit of the information referred to in the first paragraph of IV of Article L. 312-1-7 on transfer and direct debit transactions on a closed account applies to account closures taking place, at the latest, within six months of the date of the formal agreement obtained in application of this same article.

IX. - 1° The period, referred to in Article L. 312-1-7, for direct debit issuers to take account of their customer's new bank account details is ten working days from receipt of these details.

Within this period, the direct debit issuer provides the customer with information on :

-the new account details have been taken into account;

-the date, where applicable, of the last payment due on the old account and the date of the next payment due on the new account;

2° At the end of this period, all new direct debits are debited from the new account. If this direct debit was initiated before the end of this period, the new bank details will apply to the next direct debit.

A direct debit presented on the old account at the end of this deadline may not give rise, on the part of the issuer of the direct debit, to any penalty relating to rejections for closed or non-supplied accounts.

3° The period referred to in 1° is extended to twenty working days if direct debit issuers receive the details of the new bank account before 1 April 2017.

X. - For the purposes of the sixth paragraph of III of Article L. 312-1-7, the transfer issuer is informed by the receiving institution of the formal agreement referred to in the same article.

The deadline for transfer issuers to take into account the details of the new bank account of the customer receiving the transfer is ten working days from receipt of the details.

Within this period, the transfer issuer shall provide the customer receiving the transfer with information on:

-the new account details have been taken into account;

-the date from which any transfer will be executed on the new account. If the sender of the transfer is unable to determine the date of the next transfer to be executed on the new account, it shall inform the customer accordingly.

Any transfer whose execution date is later than the penultimate day of the month following the expiry of the ten-day period mentioned above is executed on the new account.