• The account change service is nationwide and is exclusively dedicated to demand deposits held by individual Customers and micro-enterprises. Through the account change service, which must be requested in a specific form and by all payment account holders, the customer may transfer the provision of payment services to a receiving payment service provider of its choice (herein also referred to as “Destination Bank”), other than the payment service provider of its choice. transferring payment that had been providing these services (herein also referred to as “Bank of Origin”).

• To transfer payment services to Best, you can fill in the form available and deliver it to any of the Best Investment Centers or send it by mail to Remessa Livre 8182, EC Cabo Ruivo (Lisbon), 1802-960 Lisbon.

• The Change of Account service is available for private customers and micro-companies;




• Best as a Destination or Origin Bank will not charge commissions for the provision or treatment of information relating to the payment services to be transferred or, in the case of Originating Bank, by closing the account. However, Best, as the Originating Bank, may be charged fees by the balance transfer service, under the terms of the Price List Fees and Expenses Leaflet - chapter 5 for private customers or 13 for micro-enterprises.

1st Step - Request from the receiving payment service provider (“Destination Bank”) to the transmitting payment service provider (“Origin Bank”)

Within two working days from the date of receipt of the Customer's request or authorization, the receiving payment service provider (“Destination Bank”) must request the transmitting payment service provider (“Origin Bank”) to perform the following tasks, if provided for in the authorization:

1. Contact the Bank of Origin so that it sends you, by email, a list with the information available on recurring credit transfers, standing transfer orders and active direct debit authorizations associated with the old account, if any, which must be sent directly to the Destination Bank, making a copy of the list available to the Customer;


2. Request the Home Bank to cancel the standing transfer orders associated with the former account according to the date indicated by the Client, which must coincide with the activation of these orders in the new account;


3. Activate standing transfer orders on the date indicated for that purpose by the Client;


4. If the Client so wishes and, in any case, if he decides to close the old account, help the Customer in communicating the new account identification number (IBAN) to entities that make recurring credit transfers to the Customer's account (such as employers or Social Security), namely by providing a draft letter for the purpose;


5. Inform and assist the Customer in communicating the new account identification number (IBAN) to creditors of the direct debits to be transferred by, in particular, making available a draft letter for that purpose. This letter must indicate the date from which the charge must be directed to the new account and a request for confirmation of the effectiveness of the change;


6. In case direct debits are transferred to the new account, the Destination Bank informs the Customer about the need for it to again indicate limits on the amount, frequency or final date, which may exist, and the way in which it can set those limits;


7. Also in the case of transfer of direct debits from the old to the new account, the Destination Bank will inform the Customer that, after the transfer, he fully retains the rights to reimburse the debits that are recognized by law. Refund requests referring to debts incurred in the old account, must be requested by the Customer directly from the Originating Bank;


8. If the Customer wishes to close his/her account with the Bank of Origin, the Bank of Destination must provide assistance, namely, by providing a draft letter requesting the closure of the account and the transfer of the available balance from the old account to the new account. The Customer shall ensure that there are no contractually foreseen impediments that prevent the closing of the old account, namely, to return to the Bank of Origin all the means of payment to that account. associated, namely the cards (debit and/or credit) and checks that you have not used, and guarantee that the payments domiciled in that account, which have been made by you, are safeguarded, but which have not yet been debited from the old account;


9. Inform the Client about any costs that he may have to bear for carrying out the transfer of services of payment.

2nd Step - Duties of the transferring payment service provider

The transmitting payment service provider, upon receipt of a request from the receiving payment service provider, must perform the following tasks, if provided for in the authorization given by the Customer:

1. Within five working days, it sends to the receiving payment service provider and to the Customer, if the latter has expressly requested it, the information referred to in point a) of step 1;



2. It no longer accepts credit transfers and direct debits to the account from the date indicated in the authorization;


3. Cancel permanent credit transfer orders with effect from the date indicated in the authorization;


4. Transfers the remaining positive balance from the account to the account held with the receiving payment service provider on the date indicated by the Customer in the authorization, or on the sixth business day following the date of receipt, by that payment service provider, of the documents sent by the transferring payment service provider, provided that this is provided for in the authorization given by the Customer, and if the latter has not outstanding obligations in that account and provided that the tasks listed in lines a), b) and d) have been completed.

If there are other legal relationships that may be affected by the closure of the account on the date provided for in the authorization given by the Customer, the transferring payment service provider informs the Customer of that fact and its consequences.

3rd Step - Payment receiving service provider

Within five working days following receipt of the information requested from the transmitting payment service provider, the receiving payment service provider shall carry out, under the terms of the authorization and in the to the extent that the information provided by the transferring payment service provider or the Customer allows it to do so, the following tasks:

1. Enter the standing credit transfer orders requested by the Client and execute them with effect from the date specified in the authorization;


2. Makes the necessary preparations to accept direct debit authorizations and accepts them from the date specified in the authorization;


3. Whenever applicable, it informs the Customer of the rights he has under the terms of subparagraph d) of paragraph 3 of article 5 of Regulation (EU) no. from 2012;


4. Informs Payers identified in the authorization that make recurring transfers of which the Customer is the beneficiary, to the Customer's payment account with the payment service provider receiver and transmits the Customer's authorization to the payers for this purpose;


5. Notifies the Creditor Entities identified in the debit authorizations that use direct debits to collect funds from the Customer's payment account with the receiving payment service provider, as well as as the date from which direct debits are charged to that account, and transmits to creditors a copy of Customer's authorization.

The transfer of payment services is not instantaneous, requiring some time to become effective.

• In the case of payments made through permanent transfers, the effective date will be the one indicated by the customer, which must respect the minimum period of 13 working days from the date of delivery of the account change service form;


• With regard to payments by direct debit, their effectuation on the date indicated by the customer will depend on the timely execution, by the creditor entities, of the alteration of the identifying elements of the account requested by the customer;


• However, payments will continue to be made with the balance of the old account. The customer must, therefore, maintain sufficient available balance in this account for that purpose.

If the customer chooses to close the old account, he must ensure that:

• The closing date is not earlier than the date indicated for the effecting of periodic transfers;


• On the closing date, all payments made by third parties to the old account (eg salaries or pensions) have been transferred to the new account;


• On that date, all direct debit charges have been transferred to the new account.

Dispute resolution:

Without prejudice to the provisions of specific clauses, in the event of a claim or dispute of an amount equal to or less than the jurisdiction of the Courts of First Instance, in accordance with the provisions of article 30 of Decree-Law no. 107/2017, of 30 August, and in order to ensure the alternative resolution of disputes, Banco Best makes available to the Customer, under the terms provided for in Law no. alternative dispute resolution, to which it adhered:

• (a) Lisbon Consumer Dispute Arbitration Center, available at www.centroarbitragemlisboa.pt;


• (b) Porto Consumer and Arbitration Information Center, available at www.cicap.pt.

For more information, see the Complaints Management and Dispute Resolution Policy.