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Card Information
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Dear Client,
By this leaflet we would like to introduce you in detail a new means of disbursing your deposit in case of a bank failure.
We would like to offer you an up-to-date method of receiving money as soon as practicable following the filing of your claim, in a convenient and safe manner. This does not mean, of course, that you cannot choose any other one of the methods indicated in the indemification form.
Supposing that you as depositor of the failed bank, had an account with some other credit institution, the transfer to such a banking account has been the quickest, most cost-conscious, and convenient method used up-to-now.
Should you choose payment in cash, you may get your money through the paying desk with an agent bank or by postal transfer.
These latter mentioned two methods are less comfortable on folowing reasons:
- In case of a failed bank having considerable number of clients it is possible that you as a depositor can get your money only weeks later, as the capacity of the paying desks is limited.
- Furthermore it can be that a payout agent bank's branch office is out of the direct reach of your domicile or place of work.
- When money is sent by mail, it is only a limited amount that the postmen deliver to house.
To overcome the above limits, a new method for payment was developed in co-operation with OTP
Bank and the Hungarian Post: the "OBA Deposit Insurance Card."
The "OBA Deposit Insurance Card" allowes you as a depositor to draw cash any time of the day from the bank machines (ATM) of OTP or during opening hours in the branch offices of OTP Bank and the post offices.
The ATMs are available at easily accessible commercial junction points with high turnovers, in food stores, filling stations or nearby OTP branch offices. To avoid longer trips and queuing up in the branch offices, we recommend you to use our up-to-date service, "OBA Deposit Insurance Card", which is provided for our depositors free of charge.
Using your "OBA Deposit Insurance Card" you can get the amount due for you in a quick and easy way. Before you choose the "OBA Deposit Insurance Card", please read the attached "Instructions for the Use of the Card" carefully.
Irrespective of the chosen method for pay-off, you shall always be notified by NDIF of the accurate amount of the indemnification due for you in a registered letter addressed to you.
Budapest, February 1999
További írásaink
What does deposit insurance mean?Deposit insurance protects depositors and thereby the stability of the financial system.
Until 1993, retail and foreign exchange deposits were guaranteed by the State. In mid-1993 this role was... What is protected?Domestic deposit insurance protection covers registered bank deposits (deposit documents, deposit account receivables) placed with banks licensed in Hungary or with their branches abroad, and bonds and...What is not protected?All that glitters is not gold; not everything that bears interest is insured and not all bank clients are necessarily insured.Is my bank insured?The deposit insurance system comprises the member institutions of the National Deposit Insurance Fund, i.e. banks, savings co-operatives, home savings banks and credit co-operatives.Is the interest also covered?Yes, the protection covers the deposited capital and the non-capitalised interest, naturally within the statutory limit."Deposit Insurance Ombudsman"To enhance the confidence of depositors in banks, the Fund created a "deposit insurance ombudsman" based on the internet.FAQ
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