§ 4-24. The customer's duty to give notice of misuse and errors, and the deadline for correction

This section contains two notification rules for the customer. The first paragraph concerns misuse. If the customer discovers that a payment instrument has been lost, stolen or used by someone without the right to do so, or that someone has gained unauthorised access to the account, the customer must report it without undue delay (without unnecessary postponement). The notice is sent to the party the issuer has specified, as § 4-23 second paragraph requires the issuer to do.

The second paragraph concerns correction of transactions. If the customer wants a payment corrected because it was not authorised or was executed incorrectly, the bank must be told quickly after the customer learned of the error. There is also an outer limit: the notice must be given no later than 13 months after the amount was debited. The outer limit does not apply if the bank has not given the customer information about the transaction as required by the rules in Chapter 3 and 4.

The third paragraph concerns payment initiation service providers. If a payment initiation service provider is involved, it is the account provider that must make the correction, not the payment initiation service provider.

Notification goes in two directions in this part of the Act. Here, it is the customer who reports to the bank. In § 4-25 it is the other way round: the bank must notify the customer when it discovers that an account has been wrongly credited or debited. The customer's notice also depends on the issuer having provided information on how to give notice and accepting notifications, which § 4-23 requires of the issuer.

Several sections refer to this one, and their titles show where the notification matters. Section 4-30 concerns liability and excess (egenandel) for unauthorised transactions, § 4-31 concerns reduction of the customer's liability, and § 4-32 concerns the bank's duty to refund the amount when the customer disputes liability. Section 4-28 on liability for transactions initiated by the payer (betaler) and § 4-45 on blocking (sperring) also refer to this section. So do § 3-7 on burden of proof (bevisbyrde) and § 1-9, which is titled "Mandatory nature" («Ufravikelighet»).