Biznes Fakty
Banks will be able to verify whether their clients are alive based on their PESEL number
Financial institutions will be obligated to verify the PESEL database to ascertain whether a customer is deceased if their account has been inactive for five years. The Senate Budget and Public Finance Committee has approved a revision to the Banking Law. This will proceed to the plenary session of the upper chamber of parliament.
This pertains to the legislation modifying the Banking Law and certain other statutes prepared by the former Ministry of Finance, which is part of the government’s deregulation initiative.
The committee members unanimously adopted the measure, without suggesting any amendments.
The legislation is designed to permit banks to access the PESEL database to verify whether a customer is still alive if they have not made any transactions for five years. This adjustment aims to provide banks and credit unions with a legal framework to fulfill their duty to obtain information regarding the death of customers directly from the PESEL register, facilitating the prompt closure of so-called dormant accounts (linked to the lack of activity from the account holder).
Enhancing the situation for heirs
The new provisions stipulate that if a customer holds multiple accounts at a single bank, the five-year timeframe will start from the most recent instruction related to all of their accounts.
According to the Ministry of Finance, the Act may help expedite the process of gathering information for heirs and minimize the likelihood of funds being disbursed to unauthorized individuals.
The amendments are set to take effect 14 days after their announcement.
The revision will now move to the Senate plenary session.
