§ 4-40. The consumer's right to information about account switching
Machine-translated from Norwegian. The Norwegian text is the one that applies. Read the original in Norwegian.Norsk English العربية Polski Українська
The text of the law (unofficial translation)
§ 4-40. Duty to provide information about account switching
The consumer shall be given access to information about the tasks of the transferring payment service provider (betalingstjenesteyter) and the receiving payment service provider in connection with each step of the switching process, the timetable for completing the various steps, any fees charged for account switching, what information the consumer may be asked to provide, and the possibility of dispute resolution in an established complaints board (klageorgan), cf. § 3-54.
What does this mean?
This section gives the consumer the right to know how account switching takes place. The bank must make known what both the old and the new bank do at each step, when each step is to take place, what fees may apply, and what the consumer must provide. The consumer must also be told that disputes can be handled by a complaints board, which the Government (Kongen) can approve (§ 3-54). Fees for account switching are regulated in § 4-41, which covers the services in §§ 4-34 to 4-40, including this one.