S.L. 376.8 Art. 16Facilitation of cross-border account opening within the European Union for consumers.

(1) Where a consumer indicates to a payment service provider located in Malta with whom that consumer holds a payment account that the consumer wishes to open a payment account with a payment service provider located in another Member

State, the Maltese payment service provider shall, on receipt of such request, and subject to sub-regulation (2), provide the following assistance to the consumer:

(a) provide the consumer, free of charge, with:

(i) a list of all currently active standing orders for credit transfers and debtor-driven direct debit mandates, where available; and

(ii) available information about recurring incoming credit transfers and creditor-driven direct debits executed on the consumer’s payment account in the previous thirteen months: Provided that this shall not entail any obligation on the part of the payment service provider located in another Member State with which the consumer wishes to open a payment account, to set up services that it does not provide;

(b) transfer any positive balance remaining on the payment account held by the consumer to the payment account opened or held by the consumer with the new payment service provider located in another Member State; and

(c) close the payment account held by the consumer.

(2) Without prejudice to Articles 45(1) and 45(6) of Directive 2007/64/EC, and if the consumer does not have any outstanding obligations on a payment account, the Maltese payment service provider shall conclude the steps set out in sub-regulation (1) on the date specified by the consumer, which, unless otherwise agreed between the consumer and the Maltese payment service provider, shall be at least six business days after the Maltese payment service provider receives the consumer’s request.

(3) The requirement in sub-regulation (1)(b) shall only apply where the consumer has:

(a) requested that the transfer be made; and

(b) provided full details of the account opened or held with another payment service provider in another Member State, including any necessary details which are required by the Maltese payment service provider in order to identify the new payment service provider located in another Member State and the payment account opened or held by the consumer with the new payment service provider.

(4) Where outstanding obligations prevent the Maltese payment service provider from closing the payment account in accordance with sub-regulation (1)(c), it shall immediately inform the consumer.

(5) For the purpose of this regulation, ''Maltese payment service provider'' means a payment service provider located in Malta with whom the consumer holds a payment account.