Press release
11 December 2014
The National Deposit Insurance Fund (NDIF) has started the indemnification of the depositors of Tisza Cooperative Savings Bank today, and most of the affected customers are expected to receive their compensation by Christmas. Indemnities up to HUF 100,000 will be delivered by the Hungarian Postal Services to the depositors’ addresses, while in the case of larger amounts depositors will be notified by post about the possible ways of receiving their indemnities. Customers can obtain further information from NDIF’s customer service by calling their telephone number operational day and night.
NDIF has started the indemnification of the depositors of Tisza Cooperative Savings Bank today after the Central Bank of Hungary (MNB) ordered the liquidation of the savings bank yesterday.
“The National Deposit Insurance Fund is making all efforts to indemnify the affected depositors of Tisza Cooperative Savings Bank, who are expected to receive their compensation by Christmas,” NDIF’s communication manager István Tóth announced.
The customers of the savings bank can be entitled to the forint equivalent of maximum EUR 100,000 (maximum HUF 30,705,000) per person, independent of whether they are individual or corporate customers.
Similarly to the previous cases of indemnification, depositors of Tisza Cooperative Savings Bank do not need to take any action in connection with the indemnification process. They will automatically be indemnified by NDIF. In order to provide those affected with accurate information, NDIF has also launched a new customer portal on its website (www.oba.hu), with the help of which depositors will soon be able to track the indemnification process, print out their payment reports and obtain further important information. In addition information can be obtained from NDIF’s customer service by calling the 06-40-918-918 blue number for local tariffs. The number is operational 24 hours a day during the entire indemnification process.
NDIF will post a detailed announcement on its website (www.oba.hu) about the indemnification process. The announcement will be published in the Friday issue of the dailies Magyar Nemzet, Népszabadság, Új Néplap and Petőfi Népe, and will also be displayed in the branches of Tisza Cooperative Savings Bank.
In the case of private individuals NDIF uses three channels to complete the indemnification process as soon as possible:
§ between HUF 100,000 and HUF 2.5 million the postal delivery person will deliver the depositor a notification which will specify the post office where he/she can receive the amount of indemnification he/she is eligible for. Within this group, up to HUF 100,000 the postal delivery person will deliver the amount of indemnification to the depositor’s address.
§ between HUF 2.5 million and HUF 5 million through an NDIF Deposit Insurance Card. The depositors will receive the PIN code necessary for using the card, the letter containing the card, and the payment report in three separate deliveries sent to their permanent addresses by “return receipt requested” delivery. You can use the card to withdraw the amount you are entitled to at any OTP Bank cash machine (the daily limit is maximum HUF 800,000) or in a lump sum in an OTP branch or at a post office.
§ over HUF 5 million customers can make arrangements about the amounts they are entitled to in person (depositing, transferring or withdrawing the money), in the OTP branch of their choice.
Independent of the amounts concerned, legal entities, other organisations and private entrepreneurs can receive the amounts of indemnification they are entitled to after receiving the payment report and the attached information letter sent by post, in the OTP Bank branch of their choice.