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Information for Banks

 

Services For Our Bank Partners

International payments
Hungarian Forint Account for foreign banks
Custodian services
Treasury
International corporate clients
Financial Institutions/Correspondent Banking
Anti money-laundering/KYC
FATCA
Contact details

International payments

Terms and Conditions applicable to Credit Institutions

With effect of 28 January 2008 Erste Bank group introduced a central technical platform for the processing of cross-border commercial payments. Later, with effect of 11 August 2008, the holding functions and the Austrian business of Erste Bank have been split and a new SWIFT code for the holding (Erste Group Bank) was introduced. As a result, all FCY customer payments in favour of our customers should be sent to GIBAATWG.For further information please study the enclosed Broadcast texts thoroughly.

GPF Broadcast
SWIFT Broadcast on the holding
Broadcast EBH – new settlement instructions

Some Frequently Asked Questions to the new procedure

Q: Where should we send our commercial payments in favour of Erste Bank Hungary (EBH)?

A: You should send all foreign currency customer payments via Erste Group Bank (EGB) using the SWIFT code GIBAATWG and its nostro accounts - or the respective clearing system. GIBAHUHB should be indicated in Field 57A.

For payments in home currencies of the Erste Group subsidiaries (HUF, CZK, RON, HRK, RSD) there is no change in procedure, you should continue to send them to GIBAHUHB, with cover through our own nostro accounts.

Q: Should we follow the same procedure, if EBH keeps an account with us?

A: Yes, you should use EGB in this case, too, avoiding the usage of our nostro account with you.

Q: Will you return / reject any foreign currency payment order, which we send to GIBAHUHB?

A: No, we will process and execute these payment orders, but just as an exception; on the long run we would like to take advantage of the new central platform and ask you to comply with the new routing instructions.

Q: Which Terms and Conditions are applicable, if we send our customer payments to EBH via EGB?

A: If the beneficiary is our customer and you indicate GIBAHUHB in Field 57A, our Terms and Conditions will apply.

Q: Shall we continue to receive payments directly from you?

A: Basically not, but there may be some exceptions, like pension payments, part of which we will continue to route directly.

Q: Who will settle the charges?

A: Charges for all incoming and outgoing payments routed via the new payment platform (GIBAATWG) will be settled (paid and invoiced) by EGB. For those rare, exceptional transactions, which are routed directly, EBH will settle charges.

Q: Which entity will handle investigations?

A: Investigations will be handled locally, by EBH.

In case of any further questions you may turn to our International Payments Department.

For other products than commercial payments (like documentary business) please use the following nostro accounts:
Nosto accounts

Hungarian Forint Account for foreign banks

Upon request we are happy to send you our competitive offer for opening a HUF account in our books.
General Terms and Conditions for HUF loro accounts



Custodian Services

Safekeeping of securities
Holding of securities (physical or book-entry form), either by the vault of ERSTE Bank Hungary or Central Clearing and Depository House (KELER) and international clearing houses (CLEARSTREAM) Keeping record about securities' data (name, code-KELER, SWIFT, ISIN, maturity, coupons, issuer, issued amount, risk type, who can buy the security, serial numbers, face amount)

Trade settlement
Moving securities by the instruction of the Client. Keeping records about the trade (value date, trade date, clean price, dirty price, accrued interest, commission fee or other fees, deal amount, the money account number) Sending confirmation or advice concerning the securities movement (SWIFT, electronic banking, fax)

Cash management
Technical money account keeping (Every global portfolio requires cash accounts services, payments and investment services)

Income collections
Incoming payment will be reported 5 days before the actual maturity. All incomes will be paid on the officially declared payable day

Handling of collateral securities
Keeping records about the loans' maturity, settlements, time tracking, blocking of securities by the instructions of the Client.

Net Asset Valuation
Using different kind of prices and valuation methods for assets. Controlling the investment rules concerning investment and pension funds. Valuation on trade date or value date

Paying agent and calculation agent functions
Calculating the actual interest and paying it to the owner of the securities



Treasury

Erste Group is the Capital Market specialist of the core CEE markets offering financial market services in Austria, Slovakia, Czech Republic, Hungary, Croatia, Romania, Ukraine, and Serbia.

The Treasury of Erste Bank Hungary shares the vision of Erste Group to become one of the top 3 FX players in the core CEE markets. To reach our goals on the Hungarian market we also share infrastructures and market experience within the Group.

Erste Bank Hungary is the HUF Foreign Exchange and Money Market competence centre of Erste Group. We conduct the Group's HUF FX and MM derivative market making activity in the name of Erste Group Bank AG, Vienna, while cash deposit and HUF FX swap transactions are concluded in our own name.

We carry out our Treasury business activity using two dealing codes. We trade HUF FX spot and outright and HUF STIR derivatives under the EGHU dealing code. For cash deposit and HUF FX swap transactions we use the EBHU dealing code.

We have leading positions on the Hungarian market in EUR-HUF FX market making and HUF STIR trading. We are also the local experts of FX sales products inCEE currencies

Should you need any information, please don’t hesitate to contat us.

You can find more contact details at the bottom of the page.

New structure starting with February 4, 2008

As you have already been informed by a SWIFT Broadcast, starting from the trade date 4 February 2008 Erste Bank Group concentrates its market-making and trading activities under the newly formed Group Capital Market Division. Since August 11, 2008, with the split of the holding and the Austrian business, Group Capital Market Division operates within Erste Group Bank. Please find enclosed all major information in this regard in the enclosed file and in the Broadcast message about the holding on the top of the page.

GCM Counterparty information

It is important to highlight that the change is mainly organizational and will have no impact on our daily business cooperation.

The local Hungarian Treasury will remain the competence centre for all forint related trading activity within the Group.  The same contact persons will be responsible for the same market segments as before.

Market making in certain products will be conducted in the name of Erste Group Bank AG, in these cases we kindly ask you to use new dealing code, as described below. For cash Money Market products the old local dealing code will remain valid and unchanged.

For forint FX Spot and FX Outright market making, forint STIR derivatives and Hungarian Bond trading please use the new Hungarian Group dealing code: EGHU.

For cash deposit and HUF FX swap transactions the old EBHU dealing code remains valid.

Contact persons and phone numbers (included in the contact list below) have remained the same.

We kindly ask you to ensure that limits for liquidity and balance sheet management purposes remain in place for ERSTE BANK HUNGARY ZRT.

Please confirm and settle all deals concluded through EGHU with Erste Group Bank AG, using its SWIFT code (GIBAATWG) and SSI.

For deals with EBHU there is no change in confirmation and settlement.

Standard settlement instructions - for Treasury Transactions
Standard settlement instructions - for Commercial Use



International corporate clients

Our special desk for international corporate clients offers the following services:

Accounts, electronic banking, cash management
We open accounts in HUF and all major currencies.
The accounts can be managed by Internet Banking, Electronic Banking, or in exceptional cases by fax.
There is a cost effective and rapid solution for EUR transfers within the Erste Group.
We offer tailor-made account sweeping and cash pooling facilities.
Deposits are made in all major currencies, as well as spot and forward conversion and other treasury products.

Loan products
Wide range of credit facilities is available: overdraft, revolving short term loans, bank guarantees etc.
Through our subsidiaries we complement our services with leasing, factoring and insurance.

Introduction of translation bureaus, to sources of information on the legal and taxation environment (incl. law, auditing and bookkeeping firms, insurance brokers, stock and bond traders)

Banker’s opinion on our customers
Upon request, after getting an authorisation from our customer, we are able to issue bank information on our customers.

We are ready to help your corporate customers in their Hungarian business. Contact our International Corporate Department.



Customer relationship for banks

If you have specific question or problem and you don't know, whom to contact within Erste Bank Hungary, our team is ready to help you.



Anti money-laundering / KYC

AML and KYC policy
USA Patriot Act Certificate
Wolfsberg Questionnaire

FATCA

ERSTE Bank Hungary Zrt.
GIIN: L99T2F.00040.ME.348
Status: Reporting FFI under IGA Model 1
W8-BEN Form



Contact details

Head office: 1138 Budapest, Népfürdő u. 24-26.

Postal address: 1933 Budapest, Hungary

Central phone:
from Hungary: 06 40 222 221
from abroad: +36 1 298 0221

Customer service from abroad:
retail and SME: +36 1 298 0222
corporate: +36 1 298 0223
Blocking of lost or stolen bank cards: 36 1 302 5885

Customer service from Hungary:
retail and SME: 06 40 222 222
corporate: 06 40 222 223

E-mail:  

Fax: +36 1 272 5160

SWIFT: GIBA HU HB

Reuters: EBHU

Tax identification number: HU17781042

Statistic figure: 10197879-6512-114-01

Your major contacts within ERSTE BANK HUNGARY ZRT.


Business Rules