Unilateral account termination initiated by the Customer - Raiffeisen ENGLISH
How can I submit a termination notice?
In person at a branch: If the conditions for the termination of the account by mutual agreement are not met, you can indicate your intention to unilaterally terminate the account by completing the appropriate form or by submitting a free-text letter. (Please refer to our colleagues for more information on the conditions for terminating an account by mutual agreement.)
By postal mail: You can initiate a unilateral termination of the bank account by sending a completed form or a free-text letter to the Bank’s address (Raiffeisen Bank Zrt. Budapest 1700). If you choose this latter option, please be sure to include the following information at all events in your letter of termination:
- Date and place of birth
- Mother’s name at birth
- Number of the account(s) you wish to terminate
- Place and date of signature of the document
- Account holder’s signature as registered at the Bank
In e-mail: by sending a request for termination furnished with an electronically authenticated signature to the Bank’s address (firstname.lastname@example.org); in the absence of authentication, your request will be rejected, of which you will be informed by e-mail.
May I terminate my account agreement from abroad?
Please note that if the notice of termination is signed abroad, the signature on the notice must be endorsed, otherwise we will not be able to accept the notice. Such endorsement may be provided by the Hungarian consul at the Hungarian diplomatic mission, or by a notary public. If the endorsement is done by a notary, depending on the agreement between Hungary and your country of residence, the document must also be apostilled.
How to provide an electronically authenticated signature?
Can I terminate all my accounts in this way?
All current accounts or one or more sub-accounts (except e.g. securities bankaccount, independent credit card account) may be terminated at the same time by a unilateral written declaration. The termination will only be accepted in the language in which the contract was concluded. Termination may be initiated by means of a free text declaration, or on a form provided by the Bank.
Can an authorised person also terminate my account?
An account termination request may only be submitted by the account holder or by a person specifically authorised by the account holder to do so (i.e. a person authorised on a standing basis to operate the account may not file such a request); the form of power of attorney is available on our website (www.raiffeisen.hu/Hasznos információk/Tudni érdemes/Meghatalmazás minták). The power of attorney may be handwritten or typed, in compliance with the legal requirements from time to time in effect or drawn up by a notary public.
How do I know that the Bank has admitted my request for termination?
The Bank will examine the services relating to the accounts you wish to terminate and will send you personalised information by registered mail on how to proceed. Please make sure that the address details you have registered with the Bank are correct, as we can only send the information to an address registered with the Bank.
What processing time should I expect?
The Bank has 30 calendar days to fulfil a unilateral account termination request. If the 30th day falls on a public or bank holiday, the account will be closed on the first banking day thereafter. During the notice period, the account may be used without limitation, and you will be entitled to all discounts and credits that are not conditional on the account not being in notice, and the Bank shall be entitled to charge all fees and interests due under the bank account framework agreement, i.e. you may as well incur a payment obligation during the notice period!
If there are no disqualifying circumstances, requests that are appropriate in form and content shall be processed within 30 calendar days, otherwise a notification of rejection will be sent.
What should I do if I opened the account as part of an account opening promotion?
In the case of accounts to be terminated during the loyalty period of an account opening promotion, the promotional amount previously credited will have to be refunded, which will be performed by the Bank by way of a subsequent debit.
Please note that if the period from the account opening to the last day of the notice period is less than 6 months, the Bank is entitled to charge an account closing fee as well.
What should I do if I have a positive balance or a debt on my account?
You will have 30 days from receipt of the notice to settle any negative balance in the account you wish to terminate. If the balance is positive on the 30th day, the Bank will manage this sum under the rules of negotiorum gestio ("management of affairs without mandate") going forward, ensuring you the possibility to dispose of the amount for 5 years. The fees charged for the act of negotiorum gestio are set out in the List of Terms & Conditions from time to time in effect. The relevant one-time and monthly fees will be deducted from the amount kept. In the case of a negative balance, the Bank will record the amount as an overdue debt and may as well hand it over for collection in accordance with debt management procedures.
Please note that we are obliged to accept collection orders submitted against you in relation to an account in the process of termination as well, which orders will be queued until the date of termination. If the balance available on the date of submission of the collection order or subsequent credits justify it, the collection order will be fulfilled in whole or in part during this period as well.
What should I look out for if there is a bank card linked to the account I want to terminate?
Please note that the bank card is active and can be used until the end of the period of notice, unless you have instructed otherwise. During this period, you should also take extra care to ensure that your bank card does not get into the wrong hands, so do not throw it away while it is active.
If you no longer wish to use the card during the period of notice, we recommend that you call our telephone customer service or visit a branch and have the card cancelled, and then destroy it. When you submit your bank account cancellation request, you can also request in writing that the card be cancelled. We recommend you to do so if you no longer need the card.
If you use your card during the period of notice, please note that the date of the transaction will be different from the date when the amount of your purchase is actually debited to your bank account. Also there may be a difference between the amount blocked and the amount of the debit, resulting in a positive or negative balance on the day of booking. We therefore recommend that you stop using your card within 7 calendar days before the account is closed.
What should I look out for if there is a loan linked to the account I want to terminate?
Annuity loans (personal loans, home loans, baby loans)
In the event of account termination, you are not obliged to, but may amend your loan contracts, or make a full early repayment, subject to the terms of the contract. You may initiate a full early repayment at our telephone customer service after proper identification. All other contract amendments may only be initiated at a branch.
If you do not wish to repay the loan in a lump sum simultaneously with the termination of the account, and the terminated account is also the account from which the loan is repaid, the Bank will open a repayment account for you free of charge, to which you will have to pay the repayment instalments from time to time due after the termination of the account.
If you wish to terminate the bank account in respect of which you have undertaken primary account usage, you may request a bilateral amendment to the contract for an additional fee (in accordance with the terms and conditions of the amendment), failing which the fee set out in the List of Terms & Conditions from time to time in effect will be charged each month until the maturity of the loan. The conditions of the discount given for primary account usage cannot be met with a repayment account.
The contract may be amended in person at a branch. If you choose this option, our colleagues will contact you to negotiate the contract amendment.
If you have an overdraft facility, it will be terminated simultaneously with the closing of the account. If you fail to settle your overdraft loan during the period of notice, on the 30th day the debt will become due and payable in a lump sum, and the Bank may claim it from you by way of collection in accordance with debt management procedures.
If there is a Versatile CLEVERcard linked to the bank account you wish to close, the card will be automatically terminated when the bank account is closed. You may apply for another credit card to replace your Versatile CLEVERcard for your existing credit card limit during the period of notice. You can apply for a credit card for an existing credit line at a branch. For a faster service, we invite you to book an appointment in our website.
If you have not applied for another credit card, the credit line associated with the credit card will be terminated simultaneously with the termination of the bank account, and the amount used from the credit line will become due and payable, together with interests and fees. If you fail to settle your credit card account balance during the period of notice, on the 30th day the debt will become due and payable in a lump sum, and the Bank may claim it from you by way of collection in accordance with debt management procedures.
How do I know whether my account has been closed?
On the last day of the notice period, all services will be terminated, including bank cards as well as any DirektNet and myRaiffeisen app access. Settlement between the parties will also take place on the last day. After the account has been closed, the Bank will send you a notice on the completion of termination, and besides a closing bank account statement will also be sent to you separately by mail.
How can I withdraw an account termination request?
You will have 15 calendar days from the date the personalised information is sent to you to withdraw your account termination request.
You can do the withdrawal using any of the following options:
- in a free-text e-mail message authenticated by electronic signature (email@example.com)
- through our call centre (+36 80 488 588)
- in person at a branch by filling the relevant form
- in a free-text letter or a completed form sent by mail to Raiffeisen Bank Zrt. Budapest 1700
Please note that we can only accept the withdrawal of a bank account termination request sent by mail if it is received by the Bank within 15 calendar days of the date on which the personalised information notice was sent.