When can I close my bank account without paying a fee?

Published: 5/11/2018
A framework contract may be cancelled free of charge after expiry of six months

Under the Payment System Act that entered into force on 28 July 2018, the time limit for a free cancellation of the framework contract concluded between the consumer and the bank, has been shortened from 12 to 6 months. In other words, a payment service user may close a payment account in the bank free of charge after expiry of 6 months from the date of entering into the framework contract.