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Indicator – Economy – When the Bank Terminates the Client’s Contract

The Customer and the Payment Service Provider are also entitled to unilaterally terminate and terminate the Bank Account Contracts. In the absence of a notice period, the customer may terminate the framework contract at any time with immediate effect. If a notice period is set, its duration will be different for customers and payment service providers.

If the customer terminates the contract, the notice period may not exceed one month.

In the event of termination by the Payment Service Provider, the notice period of less than two months shall be null and void; Unless the customer has seriously or repeatedly breached his obligation under the framework contract, written by Pénzcentrum.hu.

The Central Bank has compiled a blacklist of companies offering unlicensed investments.

Upon termination, the parties have to settle with each other: the customer has to settle the outstanding debts, while the financial institution has to settle the positive balance of the account. Account receivables based on a bank account become due, credited, or charged with agreed interest and costs, plus account management fees due by the date of termination. The customer can withdraw the positive balance in cash or transfer it to another payment account.

If the balance of the account holder is not positive at the end of the contract, the banks will transfer it to an interest-free account opened for this purpose. According to the rules of the administration, they can work until the end of the limitation period, in addition to collecting the bank fees specified in their notice.

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