Hungary: Rules for decimals in payments in Hungarian Forint (HUF)
Effective
immediately
We remind customers that, according to the local payment system regulation1, customers of Clearstream Banking2 are requested to submit payment orders in Forint with amounts rounded to whole numbers (that is, with no decimals).
Treatment of decimal amounts
If decimals are included in the payment order:
- The system of our local Cash Correspondent Bank (CCB) will automatically round up the HUF amount in order to execute the instruction in the local payment system; and
- We will manually create a second cash instruction to adjust the amount to reflect the initial customer instruction.
Note: This second cash instruction will be charged as per the Fee schedule.
Exception: An exception to the above-stated rule is in the case of book transfers in our CCB, as these payments are not passed to the local payment system.
To avoid the extra charge, customers are recommended to specify whole-number amounts in their cash instructions in Forint.
Further information
For further information, customers may contact Clearstream Banking Client Services or their Relationship Officer.
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1. Please refer to the Market Profile - Hungary: “Cash payments in HUF” under Securities administration.
2. Clearstream Banking refers collectively to Clearstream Banking AG, registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500 (CBF) and Clearstream Banking S.A, registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Register of Commerce and Companies under number B-9248 (CBL).