Information about On-line Faktoring service

What is On-line Factoring?

It is an electronic service by means of which our customers (Suppliers) may use the Banks factoring service via the Internet as well.

Who is it offered to?

It is offered to customers who use the Bank's factoring service on a regular basis, and have Internet access.

The On-line Factoring process

The Bank concludes a framework agreement with your enterprise. In the course of On-line Factoring you (Supplier) will give your factoring orders on the Internet, and send the Bank the original invoices and waybills by mail. From this point on, the factoring process will be the same as if you gave your order in-person or by fax.

What does On-line Factoring offer?

  • No monthly fee is to be paid for the service.
  • It is available on every day of the week, around the clock, thus you need not observe the opening hours of branches.
  • Using On-line Factoring, you may over the Internet
    • enter your new factoring orders,
    • monitor the status of orders given earlier, and
    • check how much your limits set up for your different buyers are exploited.

Eligibility criteria for the service

  • Your enterprise should have Raiffeisen DirektNet access, as well as
  • an effective factoring framework agreement. To be eligible for a framework agreement, you must satisfy the preconditions for using the factoring service:
  • the enterprise should have a report on at least one full, closed fiscal year;
  • the amount of the own funds of the enterprise at the end of the last closed fiscal year should be positive;
  • the enterprise has no overdue public debt to the tax, social security or customs authorities, or outstanding debts overdue for longer than 60 days to suppliers;
  • the enterprise or the owners of the enterprise are not in default regarding any payment or debt due to any financial institution;
  • no liquidation, final settlement or bankruptcy proceedings are underway or have ever been conducted against the company or any of its connected enterprises.

Documents to be submitted

  • Completed On-line Factoring Application Form
  • To use the factoring service:
    • completed Factoring Request Data Form and Factoring Buyer's Data Form,
    • supplying/agency (framework) agreement,
    • balance sheet, profit & loss account, general ledger statement.

Where can you get more details?

Our account officers will be pleased to help you at our branches, where you may get further information about other services of the Bank as well. You are also encouraged to dial our 24-hour telebanking customer service Raiffeisen Direkt at "blue" number 06-40-48-48-48 (which may be called at local charges anywhere in Hungary), or visit our website www.raiffeisen.hu.