Regulations on Internet banking payments

Starting with January 6, 2019, the current legislation establishes an obligation for companies and authorized individuals (PFAs) to keep track of supporting documents about the transfer of amounts from their own account to individuals when online payments are made.

The normative act aims to solve the problems related to the presentation of legal supporting documents for the transfers of amounts from professionals accounts (companies, PFAs, individual / family enterprises, other entities with or without legal personality) to the account of individuals, if the respective operations are made through remote access payment tools (internet banking, mobile banking, etc.).

Thus, the law will introduce the rule that, if the transfers are made by such instruments, they are made by the payers under the condition to provide that there are legal supporting documents in their records.

Accordingly to the explanatory memorandum accompanying the Law no. 344/2018 in its draft form, these documents are not only the support of the registration of the economic and financial operation in the records of the economic operator, but also they highlight the content and justification of the operation in accordance with the legal provisions, on the basis of which it can be verified whether the transfers of funds are made with just cause.

Once the new provision has been introduced, it is also necessary to set the penalties applicable in cases this provision is breached. Specifically, there is a contravention sanctioned with fines between 3,000 lei and 4,500 lei, which will be applied after 30 days from the date of law publication in the Official Gazette.