BUSINESS TERMS AND CONDITIONS - Magyar Nemzeti Bank

TABLE OF CONTENTS1. definitions ................................................................................................................................................................. 52. General Provisions ................................................................................................................................................... 92.1. Scope of the Business Terms and Conditions .............................................................................................. 92.2. Fundamental Rights and Obligations of the Parties .................................................................................. 92.3. Customer identification procedure ............................................................................................................ 102.4. Complaint procedures ................................................................................................................................... 102.5. Liability ........................................................................................................................................................... 102.6. Data protection .............................................................................................................................................. 112.7. Interests, commissions, costs, fees and special fees .............................................................................. 112.8. Effect, amendment and publication of the Business Terms and Conditions ....................................... 11A) Conditions for account management services .................................................................................................. 123. Bank accounts ........................................................................................................................................................ 123.1. Bank account agreement .............................................................................................................................. 123.2. Disposition over the bank account ............................................................................................................. 123.3. General rules relating to bank account management ............................................................................. 133.3.1. Regulations relating to direct participants of payment systems .................................... 143.3.2. Provisions relating to Other Customers .................................................................. 143.3.3. Requirements relating to payment orders .............................................................. 143.3.4. Execution of Payment Orders.............................................................................. 153.3.5. Setting the business days, submission deadlines ....................................................... 153.3.6. Order of execution .......................................................................................... 153.3.7. Delay in settlement, forced overdraft ................................................................... 163.3.8. Items booked directly in MNB customer-account management system ............................ 163.3.9. Submission of payment orders by Other Customers electronically ................................. 163.3.10. Cash desk services ......................................................................................... 173.4. Provisions relating to ICS settlements ....................................................................................................... 173.4.1. Settlement for ICS night clearing ......................................................................... 173.4.2. Insolvency proceeding in respect of ICS clearing ...................................................... 183.5. Extension of credit by the central bank to Customers of resident credit institutions with a limit 183.5.1. Pre-authorised credit limit ................................................................................. 183.5.2. Collateralised credits ....................................................................................... 183.5.3. Collateral revaluation ....................................................................................... 193.5.4. Procedure in the event of termination of partnership with MNB ................................... 193.6. Procedural rules for foreign exchange payment transactions ............................................................... 193.6.1. Payment transactions to the credit of the accounts managed by MNB ............................ 202