Transfer to Zaba

Pursuant to the Act, the following may be switched:

• consumer transaction accounts: in HRK or in foreign currency, both current and giro accounts (except protected income accounts which are opened by the Bank, following an order from FINA or other specific special purpose accounts)
• services associated with those accounts: standing orders, direct debit, incoming credit transfers (e.g. payment of regular and other income).

Switching can also include closing of an account in the previous bank and transferring positive account balance to the new bank.

For the switching service, the consumer needs to contact the bank they have chosen as their "new" bank, and the new bank has to perform all necessary activities for its realization.
The scope of the switching service is defined by the consumer in a power of attorney for account switching, in written form, which is to be filled out in the "new" bank. The switching process consists of the following basic steps:

• The consumer chooses a "new" bank, where they open an account and sign the power of attorney by which they authorize both the new and the "old" bank to perform certain activities related to the switching service.
• The "new" bank asks the"old" bank to conduct activities indicated by the consumer in the power of attorney.
• The "old" bank delivers the requested data to the "new" bank and performs all required activities.
• The "new" bank prepares for the activation of switched standing orders, direct debits, etc.

The consumer may use the switching service with or without closing the payment account with the "old" bank. In other words, when using the switching service, the consumer can, but does not have to, close the payment account with the "old"bank, and they can switch all or some recurrent incoming credit transfers, standing orders, direct debits and the like to the "new" bank.

The elements of a Basic account are defined by the Act. They are the following:

• current account in HRK (with no overdraft) with a debit card
• e-zaba or m-zaba (clients choose one of them)
• possibility of payments and withdrawals in bank branches or at ATMs
• arrangement and execution of standing orders
• arrangement and execution of direct debit in HRK
• payments, including online payments and debit card payments.

The Act specifically defines the offer for “sensitive consumer group” – recipients of social benefits, to whom the Bank must provide 10 free national payment transactions in HRK per month, in addition to a basic account and a direct channel.

A power of attorney for account switching is a document by which the consumer authorizes both the "new" and the "old" bank to perform all required actions for the switching service.
The consumer decides on the scope of the switching service and indicates the scope in the power of attorney. Therefore, the consumer decides which incoming credit transfers, standing orders, and direct debits are to be switched.
A power of attorney has to include:

• authorisation for the "new" bank to perform activities in line with the defined scope of the power of attorney 
• authorisation for the "old" bank to perform activities required by the "new" bank, in line with the scope of the power of attorney
• the date from which standing orders for credit transfers and direct debits have to be made from the payment account which the consumer wishes to open or which they have already opened with the "new" bank.

The consumer has to sign a separate power of attorney for each transaction account opened with the "new" bank which will be used for switching from the former bank.

The Payment Accounts Directive (PAD) is Directive 2014/92/EU of the European Parliament and of the Council of 23 July 2014 on the comparability of fees related to payment accounts, payment account switching and access to payment accounts with basic features.

The Payment Accounts Directive (PAD) was implemented into national legislation of the Republic of Croatia through the Act on Comparability of Fees, Payment Account Switching and Access to Payment Accounts with Basic Features, in force since 27 July 2017. Credit institutions must apply the Act, while the Act applies only to consumers – natural persons.