Free cash withdrawal
about free cash withdrawals twice a month up to sum of HUF 150,000
Under the Act No. LXXXV of 2009 Section 36/A on the Pursuit of the Business of Payment Services (hereinafter: Act), our private clients – if they met with the eligibility criteria listed below – entitled to make first two cash withdrawals1 in a calendar month – with a total amount not exceeding HUF 150,000 – free of charge from 1 February 2014.
According to the Act, if the total amount of first two cash withdrawals in the month exceeds HUF 150,000 bank has right to charge fee for the amount in excess of HUF 150,000.
Those account holder clients are entitled to the free cash withdrawals, which are:
- Private individuals,
- Have a residence in or a residence permit for Hungary,
- Older than 16 years of age,
- Who submitted the necessary declaration for the free cash withdrawals, either in person at any our Hungarian branch or via NetBank (free format letter).
Details of declaration
To take advantage of the free cash withdrawal the submission of related declaration is needed either in person at any our Hungarian branch or via KDB NetBank (sent as standard declaration form in a free format letter). Please note that to submit the declaration by postal letter or e-mail, or via call center is not allowed, however in case of obstacles submitting the declaration can also be made by an authorized person.
The first registration period was started on 1 December 2013, ended on 20 January 2014. In the future if you register till 20th of the given month, you become entitled for the free cash withdrawal from the first day of following calendar month. (For example: if you submit a declaration between 21 January 2014 and 31 January 2014, you can start using the free cash withdrawals from 1 March 2014.)
At the declaration you shall declare the payment account from which you are to claim the right for free cash withdrawals. This option is available with all bankcards connected to the payment account specified in the declaration; however their combined limit will be HUF 150,000.
Only the payment account holder can apply for this service and only one declaration can be applied for each payment account. In case of joint bank account (two or more account holders for the same payment account), the declaration will be accepted from only one payment account holder.
Pursuant to the Act each individual may present a declaration to one bank only. The free cash withdrawal option is not available with another payment account (even it is at another bank) simultaneously. If you would like to use the option with another payment account, first you must withdraw your existing declaration in person at any of our Hungarian branches or via KDB NetBank, after you can submit a new one.
Your declaration will be void if your payment account specified in the declaration is closed.
Additional rules of free cash withdrawals
- By default the free cash withdrawals are available in ATMs located in Hungary. If you had a bankcard connected to your payment account specified in the declaration on 22 November 2013 (when the Act entered into force), the free cash withdrawal option is available only with your bankcard (only in ATMs).
- If you did not hold a bankcard connected to your payment account on 22 November 2013, or you became our client after 22 November 2013 and you do not have bankcard connected to your payment account specified in the declaration, you have access to cash with the same conditions at our Hungarian branch’s cash desk. This option is available exclusively until you take your applied bankcard connected to your payment account specified in the declaration. This option will be terminated on 31 December 2014.
- According to the Act from 1 January 2015 the free cash withdrawal option will be available only with cash-substitute payment instrument (bankcard) in ATMs located in Hungary.
In case you exceed the HUF 150,000 limit with the first or second cash withdrawal in the month, Bank has right to charge fee for the amount in excess of HUF 150,000 as follows:
- In case of fixed ATM cash withdrawal fee, we will fully charge the fixed fee for the amount in excess of HUF 150,000, regardless of the amount.
- In case of percentage ATM cash withdrawal fee, we will charge the percentage for the amount in excess of HUF 150,000.
- In case of mixed ATM cash withdrawal fee (fixed + percentage), we will apply the fixed and percentage fees as the above described.
If you have overdraft contract connected to your payment account and the cash withdrawal is partly or fully fulfilled from this overdraft, you have a right for free of charge cash withdrawal up to your salary/income amount only which comes to your account regularly, maximum HUF 150,000 a month.
We would like to draw your attention that our above announcement may change due to possible future amendments of the Act.
Please pay attention the announcement in this regard at our branches, on our homepage (www.kdbbank.eu), in your KDB NetBank mailbox, and on the National Bank of Hungary’s homepage (http://www.mnb.hu/letoltes/7-amit-az-ingyenes-keszpenzfelvetelrol-tudni-kell-2.pdf) -available in Hungarian only).
If you have any further questions about the free cash withdrawals or the declaration, please do not hesitate to contact our KDB Kontact between 7 am and 8 pm on working days on +36 1 473 4440, or visit your account holding branch.
In case of any discrepancy between Hungarian and English version the Hungarian version shall govern.
KDB Bank Europe Ltd.
1The cash withdrawal can be fulfilled in HUF only, with cash-substitute payment instrument (bankcard) in ATMs located in Hungary or at our Hungarian branch’s cash desk.