§ 4-41. Fees for switching bank accounts
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)
§ 4-41. Fees in connection with account switching
If the payment service provider (betalingstjenesteyter) charges a fee for services as mentioned in §§ 4-34 to 4-40, the fee shall be reasonable and in line with the payment service provider's actual costs. The payment service provider cannot charge the consumer (forbruker) a fee for information about existing standing payment orders (betalingsoppdrag) and direct debits (direktebelastninger). The transferring payment service provider cannot charge the consumer or the receiving payment service provider a fee for information to be provided under § 4-37 first paragraph letters a and b.
What does this mean?
This section governs what the bank can charge for account switching. Fees for the services in §§ 4-34 to 4-40 must be reasonable and reflect the bank's actual costs. Information about standing payment orders and direct debits is free for the consumer. Nor can the old bank charge a fee to you or to the new bank for the information it must send under § 4-37. The section is part of the rules on account switching, together with § 4-40 on information about fees.