Domestic and international transfers

Domestic transfers – diverse methods of payment for companies

  • One-off, standing and future value date transfer orders
  • Prompt, bill and future date orders
  • Documentary credits
  • Cheque services
  • Fixed and variable amount standing orders
  • Tying of the funds on the account in part or in whole
  • Foreign currency transfers initiated to the charge of forint accounts, arrangements for transactions in foreign currency
  • Cash deposits and disbursements,
  • Same-day forint transfers to accounts kept with other banks (VIBER (Real Time Gross Settlement System) transfers)

International payments

OTP Bank has been a member of SWIFT, a key system of international financial telecommunication. The Bank has nearly 10 years' experience in documentary transactions linked to foreign trade operations. It has been a member of the Hungarian Arm of the Paris-based International Chamber of Commerce (ICC).

OTP Bank has established correspondent relationship with close to 800 banks globally and has 35 nostro accounts in the key currencies used in international payment transactions at key financial centres. This network enables it to effect and receive payments in any currency to and from any place in the world and process such payments expeditiously, fully taking individual needs into consideration.

It further enables OTP Bank to conduct documentary transactions linked to foreign trade operations at a high professional standard. As much as reasonably possible, OTP Bank strives to work in co-operation with prime banks that are leading banks in a given area.

OTP Bank offers the following products and services in connection with the financial arrangements of foreign trade operations:

Documentary transactions

Documentary credit (letter of credit) (L/C)
Receipt and, in the case of deferred payment, discounting of export L/C
Opening and issuance of import L/C
Documentary collection (prompt collection)
Receipt of import prompt collection
Initiation of export prompt collection
Issuance and receipt of foreign currency guarantees
Tender guarantee
Advance repayment guarantee
Good performance guarantee
Payment guarantee, etc.

Foreign currency transfers

Clean payments for the receipt of the counter value of export deliveries; settlement of import invoices,

Cheque services

OTP Bank cheque issuance
Purchase and collection of cheques issued abroad

Cut off times for the receipt of transaction orders
for same-day processing

Interbank electronic GIRO transfer:Monday thru Thursday: 7:45 - 18:00
Friday: 7:45 - 17:00
Interbank paper-based GIRO transfer:Monday thru Thursday: 7:45 - 18:00
Friday: 8:00 - 11:00
Intrabank electronic HUF and FX transfer:Monday thru Thursday: 7:45 - 18:00
Friday: 7:45 - 17:00
Intrabank paper-based HUF and FX transfer:Monday thru Thursday: 7:45 - 18:00
Friday: 8:00 - 11:00
VIBER transfer:Monday thru Friday: 8:00 - 15:00

OTP Bank Nyrt. executes instructions for international HUF and FX transfers and FX transfers outside the bank – if, on the day in question, they are submitted in a paper-based format until 10:00 hours or electronically until 12:00 hours – on the day of receipt with a spot (2-day) value date; urgent instructions are also executed on the day of receipt with a 1-day value date.



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