At Raiffeisenbank, everything will change in November, from price lists to conditions. Overview of the main changes

From November 14, 2022, there will be changes to the key documents of the Raiffeisenbank (RB). The change affects not only the original customers of Equa bank, which is now integrated into Raiffka, but also the existing customers of Raiffka. Conditions are changing for them too.

General terms and conditions: main changes

Expand the ability to reject changes

In addition to RB’s main customer center, which is located in Olomouc, it will also be possible to refuse the modification of the various conditions by sending it to another address of which RB warn appropriately.

New obligation to provide evidence due to AML

RB may request your documents again proving the information and explanations provided to payment transactions. Behind it all, look for protection against money laundering, which is the English abbreviation AML. It is literally about fulfillment of obligations related to measures against the legalization of the proceeds of criminal activities and terrorist financing or with the application of international sanctions and in order to prevent damage by the bank or third parties.

And be careful, if your explanation is not enough, not only will the bank refuse the transaction, but it may also refuse you terminate the contract and completely delete accounts.

When did the news come out?

RB specified the date on which it considers delivered a message sent to the client. In the case of SMS and push notifications, the message is delivered when the device or service provider concerned is concerned created a delivery notice (e.g. SMS delivery or display of push notifications on mobile).

Report changes immediately

Changes to RB need to be reported again without unnecessary delays. Before it was within 10 days. Typically, these are your contact details, address, major financial changes, etc.

We will not say the reason for the termination

RB to you he doesn’t need to say why, because he is greeting you. The only exception is when some laws require the bank to indicate the reason.

Rounding

The bank has calculated (uncredited) the interest in thousandths of 0.005, now it will be a 0.01. She rounds down.

Loss of confidence means the end

RB has already implemented information on loss of mutual trust. If your active or passive actions lead to a breach of trust in RB, this could mean the end of all contracts with the bank. That is, sending alerts. Trust is about a feeling, so many situations can hide under it (e.g. overuse of financial services and products, frequent complaints, disputes with a financial arbitrator, criticism of the bank on social networks, etc.).

There will be no checks

The phrase about issuing and accepting checks has disappeared from the terms and conditions.

Technical conditions: main changes

Changing the working hours of the customer line

The working hours of the customer line from 7:00 to 22:00 have been eliminated from the technical terms and other documents. This gives the bank the ability to adjust its opening hours without having to change conditions.

Payment cancellation clarification

The withdrawal of the payment order will not take place in a situation where the payment transaction is outside the sphere of the bank. Initially it was said “at the disposal of the bank”. This means, for example, a payment that has already gone to CNB clearing, an immediate payment credited to the recipient’s account and, in general, a payment that is already in progress outside the RB systems.

Bank code 6100 will end

RB guarantees the functionality of Equa bank’s original bank code 6100 do 31.12.2022. However, the period may be extended, of which the bank will inform customers in an appropriate manner. However, Equa bank has already informed customers that the original code will work for another 6 months.

Benefits Program – Credit Card Discounts: Major Changes

Discounts and cashbacks for credit cards do not change, it is a matter of clarifying the terminology.

The designation of RB CLUB PREMIUM benefits ends, there is now only one club RB CLUB.

RB recently added two types of transactions for which it will not credit cashback:

Near-cash transactions – these are transactions similar to cash or easily convertible into cash, such as purchases of currencies, cryptocurrencies, traveler’s checks, in particular transactions with MCC 6051.

Betting on lotteries, games, casinos and the likein particular the transactions with MCC 7995.

The entrance to the Vienna airport lounges changes slightly. There are two new lounges SKY and VIENNA Lounge Vienna instead of three. Simply because the original AIR lounge is closed and JET has changed its name to VIENNA Lounge.

Product Terms and Conditions for Accounts and Deposits: Major Changes

The document puts an end to the promotion of the infoline continues 800 900 900 and adds a new designation Customer line with a number 412 440 000. RB thus prepares the way for the cancellation of the green line (and therefore for savings).

When your current account pricing schedule changes and your savings account with some benefits is directly dependent on the pricing conditions of the checking account, a change in the current account conditions is automatically transferred to the “employee” savings account.. In other words, a savings account with benefits cannot operate independently of a checking account.

Last month without interest

For the calendar month in which an account is closed (current, savings), you will not receive interest. (You can get them, but the bank isn’t obligated.)

Blocking of money when closing the account

RB will send the money from the canceled account at the latest within 14 days (it was up to 30). But usually first. For the same period, RB can withhold the money if it expects a complaint to arise following the request to cancel the account.

Direct banking product conditions: main news

The access does not end with the cancellation of the account

If you have deleted accounts, products in RB or RSTS and should no longer have anything to do with them, the deletion of the account has interrupted your access to the Internet. This is changing and RB will still be at your disposal for the agreed time will allow access to direct bankingtypically to download documents (declarations, contracts, etc.).

Not just Android and iOS

Ending the emphasis on Android and iOS operating systems, RB now uses the phrase “supported operating system“Typically, these are Huawei mobile devices with their Harmony operating system, but others as well.

It also works without an electronic signature

The sentence fell the contracts, which must be concluded in writing, will be equipped with an electronic signature of the contracting parties.

You are responsible for keeping the documents

You are obliged to submit the electronic documents immediately after their delivery by the direct banking services put yourself at your disposal. You can do this by printing the contents of the electronic document or by storing the electronic document in a suitable storage location under your control.

Preferable telephone contact

In the event of theft, misuse, loss, unauthorized use or suspected theft, misuse, loss or unauthorized use of electronic identification means, you need to block, this makes sense. However, you have to RB first contact by phone (via contact details on their website).

Credit Card Terms and Conditions

An unactivated credit will expire

If you don’t activate your credit card within 150 daysthe contract will be terminated.

Debit Card Terms and Conditions

Exchange of the card even during its validity

The new RB can change type and scheme of the payment card even during its validity. It was initially waiting for the card to be renewed and then it may have changed. In other words, you could get a Visa from Mastercard, even if the card is still valid for two years. And viceversa.

A signature is no longer required

The card is already back it is not necessary to sign in the signature strip on the back of the card. It is also the fact that the new types of cards no longer even have signature strips, because all payments are made electronically by entering a PIN, or contactless. Likewise, the obligation that the trader can request your signature ceases. You just don’t have to sign up anymore. But in practice it can be different because traders don’t have to follow RB terms, right. (So ​​feel free to sign if needed.)

An unused card will expire

If you have been on a card in the past 12 months within 2 months prior to card renewal they have not made any transactions, RB does not have to renew your card. After all, what’s the point if you don’t use it anyway.

Modification of remuneration for natural persons

Some commissions are on the rise, but the vast majority of prices are unchanged. The changes are in the following table and mainly concern mortgages.