In relation to cash account maintenance, KELER provides its Clients with the following services:
Services related to HUF account maintenance
Execution of orders (debits)
KELER has direct membership in the Hungarian payment systems, therefore the payment methods provided by both VIBER and GIRO are available to our Clients, with a few exceptions.
Our Clients may choose from the following payment methods:
VIBER
VIBER (Real-time Gross Settlement System) is a payment system aiming primarily at performing interbank payments. KELER’s Clients may submit to KELER their payment transactions to be performed in HUF as an order to be realised via the VIBER system. KELER performs the submitted payment transactions in accordance with the current system of rules of VIBER.
GIRO IG1
Payment (collection) orders by authorities are performed within the frameworks of the IG1 settlement.
GIRO intra-day cycle settlement (IG2)
Apart from VIBER, our Clients may initiate payment transactions to be performed in HUF currency from their cash account maintained by KELER in the IG2 settlement method, in accordance with the current system of rules thereof.
GIRO Instant Payment System
KELER does not receive outgoing transfer orders to be performed in the Instant Payment System, it performs exclusively the credits originated via the Instant Payment System.
Execution of internal orders
Execution of orders between cash accounts maintained by KELER.
Execution of credit transactions
KELER undertakes the execution of credit transactions received in the following payment methods:
- VIBER
- GIRO intra-day cycle settlement
- GIRO Instant Payment System
In case of the Instant Payment System KELER performs exclusively credit transactions, immediately during the business day; while the credit transactions received outside business hours will be recorded on the cash accounts of our Clients, maintained by KELER on the next business day.
- Execution of internal orders
- Execution of orders between cash accounts maintained by KELER.
You can find information about the deadlines of acceptance in the KELER depository announcement, and about the related fees in the Fee Schedule.
Services related to foreign currency account maintenance
Execution of orders (debits)
KELER performs outgoing transfer orders in currencies other than HUF as contained in the depository announcement containing the current information about the foreign currency account maintenance; in addition to the currencies, the referenced depository announcement contains the list of correspondent banks as well as the acceptance deadlines.
Execution of credit transactions
KELER receives outgoing transfer orders in currencies other than HUF as contained in the depository announcement containing the current information about the foreign currency account maintenance; in addition to the currencies, the referenced depository announcement contains the list of correspondent banks as well as the acceptance deadlines. We call our Clients’ attention to the fact that KELER performs credit transactions only in the currency identical with the currency of the receiving account.
Interest payment
KELER will calculate interest for its Clients under the terms contained in the current list of interest payment conditions.
Proper use of cash accounts
Our Clients are obliged to ensure the proper use of the cash accounts maintained by KELER. The use of accounts is considered proper, if the order given by the account holder is for the implementation of the management of cash transactions in relation to activities performed by KELER or KELER CCP concerning settlement orders, or the transfer of the funds of the Client to the account of the Client, maintained by other account holders.