How to open an account
First, we will conclude a relevant service agreement, which includes our business terms and conditions, price lists, and product business terms and conditions for the individual services you wish to use. This will allow us to agree on rules that we will all follow. Not just for account management, but also for other services such as payment cards, Online Banking, or our Smart Banking app.
Details that do not fit into the following summary can be found at any time in the agreement and the documents mentioned. Or simply ask our bankers, they will be happy to help you.
We may change our business terms and conditions and price lists from time to time, for example when we introduce new services. However, we will always inform you of any changes at least 2 months in advance. If you don't agree with them, you can simply terminate the agreement and stop using our services. Of course, if you have a loan [MS1] with us, you must pay it off, even if you close your account with us.
How we manage your account or account management
You can have an account with us in euros or in a foreign currency offered by the bank. If a payment is made to your account in a currency other than the one in which your account is held, we will automatically convert it into the currency of your account. We will charge a fee according to our price list for any costs incurred in doing so.
For some services, we may have conditions that must be met before we can open or maintain them, such as a minimum deposit. We may also charge fees according to the price list for the management of certain accounts or additional services.
To keep your money safe, we can restrict how much you can withdraw at one time, i.e., set withdrawal limits. We may also want to verify the identity of the person withdrawing the money or sending it to another account. If you wish, you can change the limits according to your preferences.
We pay interest on some accounts, but not on others. You can find out how it works in the documents we will provide you with. You will also learn how high the interest rates are and how often we credit them. In any case, interest is credited directly to the account to which it relates.
The money in your account is insured by law.
Who has access to the account?
Only you and the people you authorise can access your account. The only exceptions are persons and authorities who may access the account by law, such as a guardian. No one else can do anything with your account.
To maintain your account and provide you with all services correctly, we need to have your current information. Therefore, if your contact address or tax status changes, for example, we need to know as soon as possible.
To prevent anyone else from accessing your account, you must protect your passwords and other access information. For details, please refer to the business terms and conditions for internet and electronic banking.
Payments, transfers, withdrawals
You can send money to other accounts in Slovakia and abroad, pay by card or cash card[MS2] , or withdraw cash at our branch or ATM. You can also transfer money to your account from another account, deposit it at our branch, or use a deposit ATM to deposit funds to your account. Funds can also be sent to you or deposited by someone else.
You can make money transfers via internet banking or the app, or, the old-fashioned way, on paper. In the latter case, however, you should expect to pay a significant fee.
You can make payments and transfers as one-time transactions or set them up as recurring payments. You can also set up direct debit with us, which allows someone to request money from your account, and we will send them the specified amount. This is suitable for payments that you send regularly, but always in different amounts. For example, for your phone or electricity bills.
Of course, if you want to send money somewhere, you must have enough in your account. This is also referred to as having a sufficient balance. This also applies to card withdrawals and payments.
In exceptional cases, your money may be sent elsewhere than where you intended, or you may receive money from someone who did not intend to send it to you. When we notice this, we will contact you and try to fix it as quickly as possible. If you notice any such discrepancies, please let us know as soon as possible so that we can review it.
We may also debit money from your account without your instruction, for example when we deduct fees according to the price list, interest taxes or loan repayments.
How to find out what's happening with your account
When money leaves or arrives, you will see it immediately in your internet banking and app. Until then, we can also send you notifications. At the same time, you can receive traditional statements by mail for a fee, if you wish.
If you notice any discrepancies in your account, please report them to us as soon as possible so that we can resolve them correctly. How quickly you need to do this is specified in the account opening documents.
Where and how to close your account
You can request closing of your account at any time by notifying us in writing. However, we will not close your account immediately; there will be a notice period. You can find out how long it is in the product business terms and conditions for your account.
If you seriously violate the terms and conditions agreed in the agreement or other documents, we may also close your account. You can find out exactly how this works in the terms and conditions.
What are term deposits for?
You can put money you won't need for a while into a term deposit. This means that they will remain with us for a certain period agreed in advance, and we will pay you a more favourable interest rate than, for example, on a savings account.
If you end up needing the money sooner, you can of course withdraw it, but you will lose the interest earned.
How bills of exchange and cheques work
You can accept and pay bills of exchange and cheques. For details, see our business terms and conditions and product business terms and conditions for accounts and payments. We are, of course, also guided by the rules laid down by law.
Why we use the term "account packages" in the price list and how they work
Our price list defines an account package as a package of banking services that you can set up together under more favourable terms, for example, an account with a card and insurance or other services. When you close the principal account to which the account package belonged, we will also cancel other services associated with it, unless we agree otherwise. If you wish to retain certain services, you will pay for them differently than before.
For some account packages, we charge a monthly fee for maintenance, while others are offered completely free of charge or with fees waived if you meet certain conditions. For example, if you receive enough money in your account every month or if you have a certain amount of savings with us. As regards account packages, we may charge extra fees for certain services, especially those that are less frequently used. You can find all fees and conditions in the price list.
What is a children's account?
As their legal guardian, you can open an account for children under the age of 15.
You can also link the child's account to your internet banking and app so that you can keep track of how your child is managing their money. You can also set limits on your child’s payments and withdrawals.
