§ 4-49. Fees and exchange rates for ATM withdrawals

Finansavtaleloven·LOV-2020-12-18-146

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)

§ 4-49. Special provision on cash withdrawals from cash machines

When cash is withdrawn from a cash machine, the customer (kunde) shall be given information about any fees and exchange rates in connection with the withdrawal pursuant to § 3-32 first paragraph letter a and information pursuant to § 4-8 even if the agreement is not covered by the scope under § 1-2 third paragraph, cf. § 1-5 first paragraph.

Source: Lovdata — Finansavtaleloven (the Financial Contracts Act) § 4-49

What does this mean?

The section applies to cash withdrawals from cash machines. Even if the agreement otherwise falls outside chapter 4, the customer will be told about any fees and exchange rates that may apply (the rate used when converting currency). The customer shall also be given information pursuant to § 4-8, which concerns confirmation that there are sufficient funds in the payer's (betaler) account. The duty to inform also refers to § 3-32 first paragraph letter a. The section is one of the exceptions in chapter 4 that § 1-2 third paragraph points to.

Related sections

All sections of the Financial Contracts Act →