Thanks to the Instant Payment service, transfers initiated through electronic channels and complying with the criteria of instant transfer are executed faster and are immediately available to the beneficiary. The service is available through the internet bank, mobile bank and OTPdirekt Electra Terminal (see in a separate question block).

This development enables our customers to send amounts of up to HUF 10 million from a HUF payment account to a domestic HUF or foreign currency account every day of the year, 24 hours a day, within a couple of seconds. The amount received through the Instant Payment service is immediately available on the recipient’s account on weekends and holidays as well. A further new feature is that instant transfers can be initiated to secondary account identifiers as well, not only bank accounts.

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Frequently Asked Questions

Questions and answers about the instant payment service

Instant transfers can be initiated in the internet bank’s and mobile bank’s well-known menu items for domestic HUF transfers. On the OTPdirekt Electra Terminal, the instant transfer should also be entered as a „HUF transfer” or an „Intraday HUF transfer” order type. Transfers initiated in branches or through the telephone customer service are executed according to standard acceptance and execution rules.

Transactions complying with the criteria of instant payment are automatically transferred by the bank through the new system, therefore, you don’t need to separately indicate that you would like to initiate an instant payment.

You may send up to HUF 10 million to outside the Bank, but OTP Bank also executes intrabank transfers of higher amounts within seconds, independent of limit, if they otherwise comply with the requirements of instant transfers. Transfers under HUF 10 million are considered individual transfers, hence they can be repeated after one another, depending on the amount on the account.

Instant transfers are confirmed the usual way: the format of confirmation depends on the settings of the Mobile Signature function you can customize.

Yes, because the bank account number will not cease to exist.

Instant transfers have no extra cost, the fee is the same as that of transfers initiated through any electronic channels, applicable to your bank account. The exact amount of the applicable fees is available in our public announcements.

You will still receive SMS notifications about your incoming and outgoing amounts if you use our Account Control services. The Account Control service can be activated in the Settings menu of the internet bank any time.

Those who use the Account Control services will receive the messages related to transactions carried out during the night (from 9:00 PM to 7:00 AM the following morning) from 7:00 AM the next working day.

If after 30 seconds you do not receive neither a positive confirmation nor an error message, and you cannot clearly see the transaction as executed or rejected in your account history, we recommend you contact the bank’s customer service. It is also recommended to check whether telecommunication conditions necessary to receive the notification exist, that is, whether you have mobile coverage or Wi-Fi.

For instant transfers already executed, a recall request may be initiated in our branches, through our telephone call centre service, or using the internet bank’s mailbox message feature the same way as is currently available. Once the recall request is sent, the other party should approve the refund of the mistakenly transferred amount as well.

A transaction made through the Instant Payment service, considering the few seconds execution rule, cannot be revoked after confirmation. In case of an erroneous transfer, it is recommended to recall the transfer.

No, the instant payment is currently available for domestic HUF transfers only. Transfers to foreign beneficiaries should be initiated the usual way.

  • Transfers from a non-HUF payment account
  • Ad hoc transfers entered with future value dates
  • Recurring and batch transfers
  • Transfers over HUF 10 million to outside the bank
  • Transfer over HUF 10 million marked as VIBER
  • Postal payment orders initiated via the Electra Terminal
  • Transfers in the branch or via the telephone customer service (for this you need to have an OTPdirekt call centre service agreement)

Transactions listed here are subject to acceptance and execution deadlines which have been applicable previously. Detailed criteria of instant transfers is available in the business terms for payment services.

Instant payment is currently not available for so-called batch payment orders (i.e. when several transfers are confirmed at the same time) placed by companies and public institutions; these are executed according to the current system. However, if an individual initiates several transfers of under HUF 10 million at the same time, these will be executed according to the rules of instant payment.

Yes, if the service provider allows the liability to be paid by transfer.

You can make a transfer with a value date, however, only T+1 (working) days can be used via electronic channels.

No. The credit card account is not a payment account, therefore, incoming payments credited to the credit card account are not subject to the instant execution requirement.

Some special characters are not allowed in the instant payment service, therefore the bank automatically converts them into simpler characters or spaces for a successful transfer. The conversion does not affect the correctness of the entered data, the system will execute the transfer correctly after the conversion of the characters.

The system can handle numbers, letters used in the Hungarian language and the most common punctuation marks, so they are included in the transfer data in an unchanged form. You can see the full list of characters in the table below:

Supported characters (unchanged form)
Numbers0 1 2 3 4 5 6 7 8 9
Hungarian alphabet lower case lettersa á b c d e é f g h i í j k l m n o ó ö ő p q r s t u ú ü ű v w x y z
Hungarian alphabet capital lettersA Á B C D E É F G H I Í J K L M N O Ó Ö Ő P Q R S T U Ú Ü Ű V W X Y Z
Punctuation marks. , : ; ? ! " - / \
Other characters# $ % & ' ( ) * + < = > @ { | } ~ [ ] ^ _ `
  • NumbersHungarian alphabet lower case letters0 1 2 3 4 5 6 7 8 9a á b c d e é f g h i í j k l m n o ó ö ő p q r s t u ú ü ű v w x y z
  • NumbersHungarian alphabet capital letters0 1 2 3 4 5 6 7 8 9A Á B C D E É F G H I Í J K L M N O Ó Ö Ő P Q R S T U Ú Ü Ű V W X Y Z
  • NumbersPunctuation marks0 1 2 3 4 5 6 7 8 9. , : ; ? ! " - / \
  • NumbersOther characters0 1 2 3 4 5 6 7 8 9# $ % & ' ( ) * + < = > @ { | } ~ [ ] ^ _ `
Not supported characters(automatically converted)
Entered characterConverted character
à â ã ä åa
è ê ëe
ì î ïi
ò ô õo
ù ûu
  • Entered characterConverted character
  • À Â Ã Ä ÅA
  • È Ê ËE
  • Ì Î ÏI
  • Ò Ô ÕO
  • Ù ÛU
  • à â ã ä åa
  • è ê ëe
  • ì î ïi
  • ò ô õo
  • ù ûu
  • ßS

Characters not included in the table are converted into spaces.

Questions related to the secondary account identifier

By using secondary account identifiers, it is possible to initiate instant transfers without knowing the beneficiary’s name and bank account number. The following can be registered as secondary account identifier:

  • e-mail address;
  • mobile telephone number;
  • tax number (for enterprises);
  • taxpayer ID number (for retail customers).

For this, every account holder shall register through their own bank a secondary identifier they wish to assign to their bank account. After that, the party making the transfer may initiate electronic transfers to the secondary account identifier instead of the given account number.

It is easier that you do not necessarily have to know the account number of the party to whom you would like to transfer. It is because the instant payment service enables you to provide the beneficiary’s e-mail address, mobile phone number, taxpayer ID number, or tax number (in case it is an enterprises), instead of the bank account number. Likewise, you don’t have to disclose your account number to somebody from whom you are awaiting a transfer, it is enough to give them your secondary account identifier.

For a secondary account identifier to be connected to the given account, it should be previously registered at the bank keeping the account. Secondary account identifiers are forwarded to a central database. The bank handling the transfer will retrieve the bank account number connected to the secondary account identifier from here, and will send the transfer to this bank account number.

Our retail customers will be able to record a secondary account identifier at our branches or via OTPdirect sevices by using the “Secondary Account Identifier” (ProxyID) function under the Settings menu item. Such internet banking function will offer the option to register an e-mail address and a mobile telephone number. Registration of taxpayer ID numbers will be available in our branches.

Relevant corporate customers will be able to have their secondary account identifiers registered at their home branch.

Several secondary account identifiers may belong to one account, such as an e-mail address, a mobile telephone number of a country within the European Economic Area, a taxpayer ID number (for retail customers), or a tax number (for enterprises).

No. One secondary account identifier can only belong to one account in order for it to be unambiguously paired with the given account number

If you register a secondary account identifier already registered to an account to another bank account, the secondary account identifier will be deleted from the account to which you previously registered it. It will only work with the account to which you registered it later.

The account holder, the authorised representative(s), the person(s) authorised to dispose over the account according to the method of representation or disposal. However, the account holder and the authorised representatives are entitled to revoke the right to manage a secondary account identifier of any person authorised to dispose over the account.

You may provide the e-mail address or phone number of the account holder, the person registering the secondary account identifier, or a third party not related to the account. However, in case of the taxpayer ID number — or tax number for enterprises — the account holder’s information should be provided. The owner of the identifier should approve the registration. The owner of the identifier should be present in the branch, because they have to confirm during the registration that they are entitled to use the identifier by providing the confirmation code sent in a text message to their phone or to their e-mail address.

In this case, your transfer initiated using the secondary account identifier will be unsuccessful. If you know the beneficiary’s account number, you may transfer the amount by using the traditional method.

The account holder should confirm the usage of the secondary account identifier one year after the registration. Anyone concerned will be notified prior to when the review is due. If the person entitled to review fails to confirm such further usage, the secondary account identifier will be deleted.

Questions regarding the usage of the OTPdirekt Electra Terminal

On the OTPdirekt Electra Terminal, instant transfers should also be entered as a „HUF transfer” or an „Intraday HUF transfer” order type, while a transfer to a secondary account identifier should be entered as an „Intraday HUF transfer” order type.

OTP Bank checks whether the item to be transferred you submit complies with the rules of instant transfers, that is, whether:

  • the initiating account is a payment account;
  • the currency of the initiating account is HUF;
  • the currency of the amount to be transferred is HUF;
  • the amount to be transferred does not exceed HUF 10 million in case sent to outside the bank;
  • the transfer order does not contain any debit day following the day of receipt;
  • packages submitted to the bank from a corporate account contain only one item, and there are no other packages submitted together with this package.

If the transaction complies with the criteria, we will automatically execute it as an instant transfer.

In case of items submitted in a package from retail accounts through the OTPdirekt Electra Terminal, the bank verifies the items one by one whether they fulfil the criteria of instant transfers. Complying items are executed as instant transfers, the remaining items are executed as usual, within 4 hours according to legal requirements.

From a corporate account, only items submitted within an individual package containing only one item complying with the criteria are executed as an instant transfer. Packages containing more than one item and packages containing one item but submitted together with several other packages are executed as usual, within 4 hours according to legal requirements.

Transfer items submitted in a package, initiated from a retail account through the OTPdirekt Electra Terminal are verified one by one and directed to the proper channel by the bank. For corporate accounts, packages with more than one item and packages containing one item but submitted together with several other packages are not executed under the Instant Payment service.

Transfers to secondary account identifiers can only be registered as “Intraday HUF transfer” (HCT) order type. For that, you will need the latest version of the OTPdirekt Electra Terminal.

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