Section 57: Bank’s obligations towards customers

57. Bank’s obligations towards customers (1) A drawee bank upon which cheques have been drawn by its customer shall send or make available to the customer a statement of account in written or electronic form, showing payment of the cheques for the account and shall either return or make available to the customer the cheques paid or provide information in the statement of account sufficient to allow the customer reasonably to identify the cheques paid. (2) The statement of account shall— (a) provide sufficient information where the cheque is described by transaction date, description or particulars and amount; and (b) specify the different charges in respect of the cheque book facilities provided by the bank to the customer. B3 – 41 [Issue 7] Banking Act (3) The frequency required for sending such statements of account shall be agreed with the central bank. (4) Where the cheque is not returned to the customer, the bank retaining the cheque shall keep it in its physical form or in a legible copy by use of microfilm, magnetic tape, optical disk, or any other form of mechanical or electronic data storage and retrieval mechanism as the central bank may approve, for a period of at least 7 years as from the date the cheque is drawn. (5) Where a bank has paid a cheque, the customer drawing the cheque may request the bank to return him the cheque and the bank shall provide within a reasonable time either the cheque or, where the cheque has been destroyed, presented for payment by electronic means under section 44A of the Bills of Exchange Act or is not otherwise obtainable, a legible copy of the cheque at a charge that shall not exceed the maximum charge determined by the central bank. (5A) (a) Subject to paragraph (b), a bank shall send or make available to its customer a statement of account, on a regular basis but at least once every year, showing the balance maintained on the account together with the transactions effected in the account during the relevant period of the statement. (b) Where an account has remained inactive and the statement of account sent to the customer under paragraph (a) has returned undelivered on more than 3 consecutive instances during the period the account has remained inactive, the bank may, subject to the bank taking action to obtain the postal address of the customer within a reasonable period, cease to send the statement of account to the customer. (6) Where a customer’s deposit or money lodged with a financial institution for any purpose becomes less than the minimum balance requirement in force in a financial institution from time to time and it has been left untouched for a period of one year and the customer has not responded within 6 months to a letter from the financial institution informing him of any service fees or charges that may be applicable on the deposit or money for reasons of it having fallen below the minimum balance, sent by registered post to the customer’s last known address, the deposit or money, as the case may be, shall, without formality, be handed over forthwith by the financial institution to the customer concerned in person, failing which it shall be transferred to the central bank to be dealt with in the manner referred to in section 59. (7) Every financial institution shall at all times display in a conspicuous place in the public part of its principal place of business, and in each branch or office of the financial institution, the rates of the fees or charges in respect of servic the case may be, shall, without formality, be handed over forthwith by the financial institution to the customer concerned in person, failing which it shall be transferred to the central bank to be dealt with in the manner referred to in section 59. (7) Every financial institution shall at all times display in a conspicuous place in the public part of its principal place of business, and in each branch or office of the financial institution, the rates of the fees or charges in respect of services provided by the financial institution in such form and manner as may be determined by the central bank. (8) The rates of the fees or charges referred to in subsection (7) shall be posted on the website of the financial institution. [Issue 7] B3 – 42 Revised Laws of Mauritius (9) In this section— “cheque” includes any payment by means of credit card or any payment order or transaction, whether made electronically or otherwise; “inactive”, in relation to an account, means an account where there has not been any customer induced transaction during one year or more. [S. 57 amended by s. 2 (o) of Act 18 of 2008 w.e.f. 19 July 2008; s. 4 (d) of Act 38 of 2011 w.e.f. 15 December 2011; s. 3 (b) of Act 27 of 2012 w.e.f. 22 December 2012; s. 4 (j) of Act 9 of 2015 w.e.f. 14 May 2015.]