When opening an account for a new customer, the regulated institution must collect, with the consent of the individual concerned, their personal data and ensure its accuracy, based in particular on their valid official documents. This applies to joint accounts. The same due diligence must be exercised with regard to each joint account holder.
The regulated institution that requests the client's consent for the collection of their biometric personal data informs them of its use exclusively for the purpose of centralizing payment information.
The procedures for collecting, storing, and transmitting personal data to the Central Bank are defined by an instruction from the Governor of the BEAC. This instruction also stipulates the procedures for accessing personal data and its rectification, if necessary, as well as the categories of data to be collected.
The regulated institution is required to declare, without delay, to the Central Bank any opening, modification, or closure of an individual or joint account, in the name of any natural or legal person.
The conversion of an account is considered the opening of a new account and is subject to declaration. The cases of conversion are defined by the Governor's instruction.
Before issuing any check books or payment cards to a customer, the institution subject to this regulation must consult the Payment Incident File. It must keep a record of the response received.
When refusing payment of a check, the drawee bank must be able to demonstrate that it has fulfilled all its obligations, particularly those relating to opening the account and issuing check books or payment cards.
Any institution subject to the regulations that fails to conduct the consultation required under the first paragraph, or that issues check books or a payment card to a customer despite a banking or judicial ban or a payment card withdrawal order against that customer, is liable to the civil and criminal penalties stipulated in Articles 250 to 252 of the regulations.
By duly reasoned decision, the institution authorized to draw on checks may refuse to issue to an account holder check books other than those issued for a withdrawal of funds by the drawer from the drawee or for certification.
Upon closing the account, the institution subject to the regulations must request the account holder to return any unused check books and payment or credit cards.
When a check or direct debit is rejected due to insufficient funds, the issuing institution must:
Record the payment incident in its books:
- Issue the check presenter a rejection notice specifying the reason for the refusal and indicating that the check holder or the beneficiary of the unpaid direct debit may obtain, upon request, a certificate of non-payment:
- Impose a banking ban by sending the client a formal notice letter, in accordance with the provisions of Articles 197 (new) and 198 (new) of the law:
- Inform the Central Bank of the payment incident resulting in the client's banking ban.
All these formalities must be completed within two (2) business days following the date of the payment refusal.
The institution subject to these regulations must inform the Central Bank, by any means providing written proof of receipt, of any decision to withdraw a payment card within two (2) business days of the decision.
Any institution subject to these regulations that rejects an accepted bill of exchange or a promissory note domiciled in a bank, due to insufficient funds, must record the payment incident and report it to the Central Bank within two (2) business days of the date of the payment refusal.
Domiciliation is established by sending the domiciliary agent a notice signed by the drawee or the issuer, or by express indication on the bill of exchange or promissory note, bearing a signature.
Domiciliation may be revoked by the drawee or the issuer.
The institution subject to these regulations must inform the Central Bank, by any means providing written proof of receipt, of any decision to withdraw a payment card within two (2) business days of the decision.
Any institution subject to these regulations that rejects an accepted bill of exchange or a promissory note domiciled in a bank, due to insufficient funds, must record the payment incident and report it to the Central Bank within two (2) business days of the date of the payment refusal.
Domiciliation is established by sending the domiciliary agent a notice signed by the drawee or the issuer, or by express indication on the bill of exchange or promissory note, bearing a signature.
Domiciliation may be revoked by the drawee or the issuer.
The institution subject to these regulations must, without delay, inform the Central Bank of any violation of a banking or judicial ban on issuing checks observed with respect to its client.
The institution subject to these regulations must also notify the Central Bank:
- Of any payment incident rectification carried out in accordance with the provisions of Article 198 of the regulation;
- Of any lifting of a banking ban carried out in accordance with the provisions of Article 204 of the regulation;
- Of any objection, filed by its client, due to loss, theft, fraud, or falsification of check books or a payment card.