Contacts

Banka Slovenije is a central bank, and does not exchange foreign currencies. The sole exception is exchanging Slovenia’s legacy currency, the tolar, for euros: tolar coins could be exchanged until 3 January 2017, but there is no time limit on exchanging tolar banknotes. Banka Slovenije does however undertake the replacement of damaged euro banknotes and coins.

Under the Foreign Exchange Act, which regulates exchange operations in Slovenia, exchange operations can be provided by banks, savings banks and currency exchange operators that have obtained an authorisation from Banka Slovenije. The aforementioned entities make their own decisions as to which foreign currencies they will exchange. Banka Slovenije has no power to order these entities to report which foreign currencies they exchange.

A register of banks, savings banks and currency exchange operators can be found on this link.

Banka Slovenije is a central bank, and does not exchange foreign currencies. The sole exception is exchanging Slovenia’s legacy currency, the tolar, for euros: tolar coins could be exchanged until 3 January 2017, but there is no time limit on exchanging tolar banknotes. Banka Slovenije does however undertake the replacement of damaged euro banknotes and coins.

Banknotes of the euro area legacy currencies can in principle always be exchanged at the central bank of the issuing country (by the time limit set by the bank), which has sole responsibility for making the arrangements for exchanging banknotes and coins in its own legacy currency, and keeping the public informed about these matters.

It was agreed at Eurosystem level that the national central banks of the Eurosystem would cease issuing €500 banknotes on 26 January 2019, while other market participants (commercial banks, currency exchange operators, etc.) would continue recirculating the banknotes.

€500 banknotes have remained legal tender even after the end of issuance, and can still be used as a means of payment and a store of value. Their value remains unchanged, and there is no time limit on their exchange at Banka Slovenije.

It is up to the business policy of the individual bank, savings bank or non-bank exchange operator as to whether they do business with cheques, including cashing traveller’s cheques, and under what conditions. The information available to us gives an insight into the practices of banks and savings banks, and also other exchange operators, who are increasingly moving away from cashing foreign cheques.

Certain banks and savings banks are able to issue their customers with a free official confirmation that they have withdrawn foreign cheque cashing services. The confirmation is issued in Slovene and English, and is addressed to the issuer, who can then find an alternative way of sending funds to the beneficiary.

It is easy to check which banks and savings banks established in Slovenia will cash (foreign) cheques.

The Payment Services, Services of Issuing Electronic Money and Payment Systems Act (in Slovene), which regulates this area, does not in principle recognise any restrictions in connection with opening a transaction account at a bank (or savings bank). Here it should be clarified that opening a transaction account is a business decision on the part of the bank as to whether to establish a business relationship with the client in question. As a matter of business policy, a particular bank may for example refuse to work with an individual who has a blocked transaction account at another bank, who has outstanding liabilities to the bank on the basis of a previous business relationship between them, or with whom the bank has generally had a bad experience.

Notwithstanding the general arrangements above, a consumer is entitled to access a basic payment account under certain conditions. Any consumer legally residing in the European Union is entitled to a basic payment account in accordance with the Payment Services, Services of Issuing Electronic Money and Payment Systems Act, including consumers with no fixed address, asylum-seekers and consumers whose residence permit has not been granted but whose expulsion is impossible for legal or factual reasons. A bank (or savings bank) should refuse an application to open a basic payment account when opening an account of this type would entail a breach of the law governing the prevention of money laundering and terrorist financing (AML/CFT) because the bank would not be able to comply with the customer screening and, consequently, in accordance with the provisions of the AML/CFT law, may not enter into a business relationship with the individual. In addition, the bank also has the option of refusing a consumer’s application to open a basic payment account in cases explicitly set out by law (and solely in these cases) as follows:

• if the consumer already has a payment account at a bank in Slovenia that allows him/her to use payment services available within the framework of the basic payment account (except when the consumer indicates that he/she has been informed that the payment account will be closed), i.e. if he/she already has a payment account that provides for the same set of services as a basic payment account, or

• if the consumer is breaching or has breached in the last three years a contractual obligation towards the bank with which he wishes to open a basic payment account.

The management of a transaction account is based on a contractual relationship between the account holder (the payment service user) and the bank (the payment service provider). Given that it is a matter of a contract under civil law, either of the contracting parties may (under the conditions stipulated in the contract) terminate the contractual relationship (close the transaction account). Closing a transaction account is therefore a decision by the contracting parties to terminate (withdraw from) the contractual relationship (with a notice period). The closure of a transaction account (withdrawal from the contract) must be defined in the payment service provider’s general terms and conditions, which usually stipulate that either contracting party may unilaterally (after the notice period) withdraw from the contract (close the account). The Payment Services, Services of Issuing Electronic Money and Payment Systems Act (in Slovene) stipulates that the notice period for the payment service user’s withdrawal from the contract may be no longer than one month, while the notice period for the payment service provider’s withdrawal from the contract must be at least two months. However, if the bank terminates the contract (closes the transaction account), the bank is obliged to inform the payment service user of the specific reasons for termination, unless this is prohibited by other legislation (e.g. prevention of money laundering and terrorist financing legislation).

In the case of a basic payment account, the bank (or savings bank) may only withdraw from the contract granting access to the basic payment account in the cases explicitly set out by the Payment Services, Services of Issuing Electronic Money and Payment Systems Act, namely:

• if the consumer intentionally uses the basic payment account for unlawful purposes

• if there has been no transaction in the basic payment account for more than 24 consecutive months

• if the consumer submitted inaccurate information to obtain the right to a basic payment account, when on the basis of accurate information the right would not have been obtained

• if the consumer no longer legally resides in the European Union

• if the consumer subsequently opens a payment account at another bank that allows him/her to use the payment services available within the framework of a basic payment account

• if the consumer breaches a contractual obligation to the bank, or has done so in the last three years

• under the conditions with regard to withdrawal from a contract set out by other laws

A basic payment account is a form of transaction account or payment account to which any consumer legally residing in the European Union is entitled in accordance with the Payment Services, Services of Issuing Electronic Money and Payment Systems Act (in Slovene), including consumers with no fixed address, asylum-seekers and consumers whose residence permit has not been granted but whose expulsion is impossible for legal or factual reasons. The bank (or savings bank) may only refuse a consumer’s application to open a basic payment account in cases explicitly stipulated by law, and special rules apply to the bank’s unilateral withdrawal from the contract.

Under the Payment Services, Services of Issuing Electronic Money and Payment Systems Act, a basic payment account is required to provide all the services necessary for opening, managing and closing a payment account; services that allow funds to be deposited in the payment account and cash to be withdrawn from the payment account in the EU at a bank counter or ATM during or outside bank business hours; the execution of domestic and cross-border direct debits, payment transactions with a payment card including online payments, and the execution of domestic and cross-border credit transfers, including standing orders, transactions at POS terminals, transactions at bank counters and online banking services.

Information about the possible ways of accessing data in the SISBON system can be found on this link.

For any further clarifications, we can be reached by calling +386 1 4719000 (between 9 am and 1 pm, Monday to Friday).

Under the Central Credit Register Act, Banka Slovenije is the operator of the SISBON system, but it is the system members reporting the data to the system who are responsible for its accuracy. More information about how to exercise the right to view your data can be found on this link.

For any further clarifications, we can be reached by calling +386 1 4719000 (between 9 am and 1 pm, Monday to Friday).