The new Act No. 284/2009 on Payments will bring some major changes for clients in the Czech Republic from 1 November 2009. Komerční banka has completed the preparations for implementing the new law, and in a few days will distribute a letter informing its clients about the forthcoming changes.

"Komerční banka has applied the most client-friendly approach to the adjustment of the terms and conditions of its products, which are related to the new Payments Act," says Radko Belada, head of Retail Banking Marketing. "In the spirit of the underlying idea of the new law, we have even decided to protect clients' interests over and above the law's requirements and shoulder a number of new risks ourselves, although this may not be the optimum for the bank at all times or under all circumstances," adds Radko Belada.

Primarily clients in the individuals segment, 'consumers', and in the micro-enterprises segment will face the largest number of changes.

For example, in accordance with the new law the new terms and conditions will make it possible for the clients to stop list a lost, stolen or misused payment card free of charge. In the case of card loss, theft or misuse, the limit on the client's liability for the losses caused by unauthorised transactions made by such cards has been reduced. Provided that the security rules for card handling have been observed, clients' maximum liability will be limited by EUR 150 regardless of the amount of the losses caused, while Komerční banka will bear the remaining costs. Over and above the new law, Komerční banka will relate the limit of EUR 150 to the sum of the amounts of all transactions made on the misused card rather than to each and every single transaction, thereby significantly enhancing its protection of card holders.

Clients will newly receive free information about transactions on current and savings accounts via an independent channel, Expresní linka Plus, that will be provided to clients free of charge. The clients who will use this communication channel will also receive information about changes to contract terms and conditions.

Changes will also concern domestic and cross-border payment services. On the other hand, Komerční banka already meets a number of the requirements laid down in the new law, for example, the shorter time for the crediting of money to an account, which is so frequently mentioned, will be no news for Komerční banka's clients: already at present, clients have such funds available on the same day on which the bank receives it.

In addition to the distributed letters, Komerční banka's clients can obtain all the details about the changes applicable from 1 November 2009 at or at KB's special information line at 800 101 216.

Komerční banka is one of the best run universal banks in Central Europe. It provides comprehensive services to clients in the areas of retail, corporate, and investment banking. The Komerční banka Group's 8,890 employees serve 1,636,000 clients, who can use an extensive network of 397 points of sale throughout the country. Komerční banka currently operates 680 ATMs and more than 966,000 of its clients use one of direct banking channels.

Komerční banka is part of the Société Générale Group, one of the largest banking groups in the euro zone (in terms of market capitalisation), whose 163,000 employees serve more than 30 million individual clients worldwide.