Cash management services

Our payment services specifically include, among others, bank account management, the performance of payment transactions to and from bank accounts including payment transactions between accounts, cash desk services, liquidity management and cash-pooling.

We would like to give you more information about the main types of payment transactions between accounts that are offered by our bank:

• transfers, including
  • one-off transfers
    • domestically in HUF (within the bank or between banks)
    • abroad in HUF
    • domestically and abroad in foreign currency
  • book transfer between the customer’s own accounts managed by CIB
  • regular/permanent transfer (in HUF),
  • forward-dated transfers
  • batch transfers (in HUF)
  • SEPA transfers
  • VIBER transfers (in HUF)  
• collection
  • direct debit orders (in HUF)
  • official transfers
  • HUF collection order based on an authorisation
• Postal services

 
In the case of one-off transfers, the bank transfers a specific amount to the beneficiary’s bank account from a bank account managed by CIB Bank either in forint or in foreign currency, domestically or abroad.  

• In the case of domestic forint transfers the bank ensures, in the context of same-day settlement, that the payment order is credited to the account of the beneficiary’s payment services provider no later than within four hours after its receipt pursuant to the Bank’s Schedule.
• FCY transfer: In the case of interbank FCY transfers we offer the option, for a premium for expediting, to have the transfer performed - in the case of EUR, USD, GBP, CAD - on day T (same day), and in the case of other currencies, on day T+1.

Regular/permanent forint transfers: the Bank performs a transfer order of the same amount through a regular transfer order, at regular intervals (daily, weekly, bi-weekly, monthly, quarterly, semi-annual and annual).

Batch forint transfers: in the case of batch transfers, the Bank Account owner, as the Paying Party, submits Transfer Orders under the same legal title to different Beneficiaries, at the place and in the manner specified in the Framework Agreement concluded with the Bank, in bulk, as batch transfers (e.g. wages). Batch transfers may be submitted via the Business Terminal and the Inbiz system.

SEPA (Single Euro Payments Area) transfer: This is a transfer exclusively in EUR that is performed without conversion, and the transferred amount is credited to the beneficiary’s account without any deduction. A condition of the SEPA transfer is that the Beneficiary’s bank must also be a member of the EU clearing system. For SEPA transfers, the beneficiary’s SWIFT code must be used and the beneficiary’s account number must be provided in IBAN format.

VIBER: It is an immediate interbank transfer in forint that is performed within 2 hours if the Bank receives the transfer between 8 a.m. and 4 p.m.

Direct debit order:  Based on the authorisation of the Client as the relevant Paying Party, the Beneficiary, pursuant to the agreement with its account managing payment services provider, submits debit orders of the same legal title and bearing the same date of debiting, from the payment accounts of different Paying Parties, in bulk. Direct debit orders may be submitted via the Business Terminal.

1. Cash desk deposits

• you may make a cash desk deposit on banking days, during business hours, in any of our branches
• without a limit in forint foreign currency deposits

2. Cash deposit via ATM

• it is available for customers who possess a forint bank card issued by CIB Bank
• in the majority of our bank branches, you may deposit forint via the ATM network to the forint bank account associated with your bank card
• you can make a cash deposit regardless of business hours, without having to stand in line, 24 hours a day, including weekends
• payments are processed in the morning of each banking day; consequently, the deposited amounts
• are credited on the working day when the deposited amounts are checked, within three working days,
• with a value date corresponding to the working day when the crediting is performed
• the maximum amount that can be deposited via ATM in a single envelope is HUF 500,000
• deposits via ATM are free of charge for private persons

3. Postal withdrawal cheque

• cash payments through cash vouchers at a given postal address are available for customers who have a bank account with our bank
• through this service payments can be made without any actual cash transfer
• the order can be issued on a traditional postal voucher on paper or electronically, as well as via the CIB24 telephone customer service
• Magyar Posta Rt. delivers the amounts to be paid to the beneficiary’s address on the second working day after it receives the amount

4. Cash desk withdrawal

• you may withdraw cash on banking days, at any time during the cash desk business hours, in any of our branches
• requests to withdraw cash in an amount between HUF 1 million and HUF 10 million (USD/EUR 1 thousand and 5 thousand, and in the case of other currencies offered by the Bank up to an amount equal to 5 thousand dollars) must be reported to the Bank on the banking day before the withdrawal, while
• requests to withdraw cash in excess of HUF 10 million (in excess of USD/EUR 5 thousand or any other currency offered by the bank, in excess of USD 5 thousand) must be reported to the Bank on a banking day 2 working days before the withdrawal, from Monday to Thursday until 3 p.m., on Friday until 2 p.m., verbally (by phone, via CIB24/in person) or in writing.

5. ATM

• can be used with a card bearing an international logo, with a PIN code
• quick cash withdrawal option that can be used at any time, including holidays
• our customers can also check the balance of their accounts
• to use the ATM you can access the 24 hour protected zone in the branch’s hallway with your bank card
• each card type is assigned a default limit with respect to the daily cash withdrawal amount limit
• customers may request customised limit categories via CIB24, our 24 hour telephone customer service
• the maximum amount that can be withdrawn from a given ATM in one transaction is HUF 200,000

This information is not comprehensive; for detailed information please consult the Bank’s relevant general terms and conditions, specific business regulations, lists of conditions or the Bank’s employees.