Instant payment system

The payment service enables transfers eligible for instant payment to be executed in just a few seconds, on any day of the year, any time of day. This means that transfers initiated over the weekend or after banking hours will also be executed instantly.

What transfers are eligible for instant payment?

domestic HUF transfers from HUF accounts,
that are sent electronically using internet banking ([UniCredit eBanking], Spectra, SpectraNet) or mobile banking services [UniCredit mBanking] updated to the latest version,
with an amount that does not exceed HUF 20 million,
having underlying coverage,
does not have future value date,
only singe payments may be instant payments, corporate payment packages with multiple orders inside can not be processed as instant payments
and in respect whereof an appropriately registered beneficiary account number or a secondary identifier registered in advance by the beneficiary has been provided

How is instant payment initiated?

Instant payment does not have a separate menu point or it does not have to be marked, if a HUF payment order meet all above criteria the bank process that payment as an instant payment
HUF transfers are available for corporate customers in the Spectra / SpectraNet Internet Banking system
In addition to a bank account number, a secondary identifier may also be used when specifying the beneficiary.

What should I know about secondary identifiers?

A secondary identifier may only be registered by persons who are eligible to submit payment orders for the given account.
Please note that a secondary identifier can only be linked to one single bank account. If, therefore, you have several bank accounts, you must choose a specific data to be registered for each of such bank accounts.
At the same time, multiple secondary account identifiers can be assigned to a given bank account, meaning that if you have several email addresses or mobile numbers, you can register all of them for the selected bank account. (In the latest version of the [UniCredit Mobile Bank] you can register only one type of identifier to the selected bank account. It means, that you can register for example just one of your email addresses to the bank account, but one mobile number and one TAX ID can be registered to the account at the same time.)
Secondary identifiers may be registered by corporate customers in the Spectra/SpectraNet Internet Banking system and in person at our branches,
The authenticity of the secondary identifier provided is verified (with a verification code sent to the email address or a code sent by SMS) and the data is only linked to the account following this approval process.
You must verify each year whether the secondary identifiers provided still belong to you. The bank will send you a notification to this effect prior to the deadline. Secondary identifiers that are not confirmed shall be deleted by the bank from the system after this deadline lapses.

FOR PRIVATE INDIVIDUALS

This is how you can register your secondary identifier in [UniCredit mBanking]:

Make sure that you use the latest version of the [UniCredit mBanking]! After logging in, please, find your account summary (marked with blue blackground), click on the menu on it (three points at the upper right corner), and register the requiered IDs in the Secondary Identifier settings. The type of secondary identifier must be selected in the "Beneficiary Identifier Type" field when registering the transfer, after which you must provide the appropriate identifier.

What are secondary identifiers?

Instant payment is also possible by providing the secondary identifier registered for the beneficiary's bank account instead of the bank account number of the receiving party. A tax number/tax identification code, email address or mobile number can serve as a secondary identifier. You can also register a secondary identifier for your own bank account.

This is how you can register your secondary identifier in [UniCredit eBanking]:

You can register and delete secondary identifiers in the Settings menu under Secondary Identifiers.

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This is how you can use a secondary identifier for transaction in [UniCredit eBanking]:

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Instant payment fees

Fees, in each case, are the same as those charged for transfers sent electronically to within or outside the bank, as specified in the list of conditions and applicable to the given account package.

Interested in free of charge Mobile Banking transfers? Switch to our “Mobil Aktív” account package.

How instant payment affects loan repayment

Debiting of instalments and interest payment relating to retail loans (with the exception of securities loans, annuity repayment mortgage loans and credit cards), as well as the debiting of at-sight interest and overdraft facility interest is carried out on bank holidays as well.

FOR SMALL BUSINESSES AND CORPORATE CLIENTS

How am I notified of the status of instant transfers? (Delivered, Fulfilled, Failed)

As before, via the Spectra/SpectraNet Internet Banking platform, in the Sent Orders menu by querying status.

What is the cost of instant transfers?

The fee of instant transfers is the same as the fee for ‘normal’ HUF transfers submitted electronically. The official fees are contained in the applicable lists of conditions.

How are bank account statements prepared in respect of weekends or bank holidays? Is a separate statement prepared for each day or are the items for bank holidays shown on a single statement with the value dates indicated?

A separate statement is prepared for each day, with an individual serial number (for weekends and bank holidays alike).

How does the cut-off-times for electronically submitted items change in the case of instant and intraday (IG2) transfers?

The cut-off-times for various order types are contained in the execution order of transactions. HUF transfers complying with the criteria for instant payment are executed on an ongoing basis, every calendar day, 24 hours a day. Value date changes at midnight, meaning that incoming and outgoing instant transfers are booked on the given day in each case. The cut-off-times and booking rules for the various orders do not change.

At what time does the bank execute transfers with pre-specified value dates?

HUF transfers with future value date are not executed instantly but clearing, in line with previous practice (if coverage provided), is carried out in the first IG2 cycle in the morning — at around 7:30 AM.

At what time are cash pool transfers and re-transfers executed?

The booking of cash pool movements will be carried out as part of banking day closing, right after midnight, on weekends and bank holidays as well. Pool transactions will, therefore, take into account all current day items processed before midnight.

Will the Spectra/SpectraNet import and export formats change on account of instant transfers?

The current order import formats can be used even after the introduction instant transfers, and different fields will only be required if a secondary identifier is used. Instant transfer orders containing a secondary identifier can only be imported in xml (pain.001) format; the format description is available in the Spectra/SpectraNet Help menu. The only change in respect of exported statements is that — if a secondary identifier is used — instead of the name and account number of the beneficiary, it will contain the secondary identifier and the identifier type.

As per the current system, we transfer in batches. Is there any option for the bank to separate the batch into individual items and for items under HUF 20 million to be executed as instant transfers?

Corporate order packages — in line with the provisions of the relevant MNB Decree — are executed under the intra-day clearing system (IG2). The bank does not separate batch orders. The instant payment system was not designed to execute batch orders in a few seconds, and GIRO also protects the clearing system from overloading. Companies may only submit instant transfer orders by submitting these orders individually, item by item.

As per the current system, we transfer in batches. Is there any option for the bank to separate the batch into individual items and for items under HUF 20 million to be executed as instant transfers?

Will the queuing mechanism change?

No, but pursuant to the applicable MNB Decree, we cannot add instant transfers to the queue (in case of insufficient coverage, these must be rejected immediately).

Will Real-Time Gross Settlement System transfers under HUF 10 million also be executed as instant payments?

Essentially yes, except if the order does not comply with the criteria of instant transfers (e.g. the transfer order has been submitted as part of a package; it requires manual processing because the paying party submitted the order on paper; or the paying party did not submit the transfer order against the HUF payment account or submitted it with a subsequent debit date).

Does UniCredit provide request-to-pay sending/receipt service?

As of 2 March 2020, UniCredit Bank will not be offering payment request-to-pay service as yet (neither on the receiving nor the sending side), but we are working on introducing the service.

Where can I find additional information on instant payment?

You can find additional details on this website:

https://www.mnb.hu/azonnalifizetes

You can pay simply, even with a QR code, at merchants that provide the option, since

From 1 September 2024, UniCredit Bank’s mBanking and mBanking Business services also include qvik, an instant transfer initiated with a single data entry solution.

What is qvik service?

It is a new, account-based instant payment solution developed jointly by GIRO and the Central Bank of Hungary (CBH). Instant transfer payments can be initiated by scanning a QR code, making an NFC contactless payment or tapping on a so-called deeplink (leading into UniCredit mBanking or mBanking Business service).

What is qvik to be used for?

When shopping in-store or online, you can use this function to pay by instant transfer instead of using a bankcard when paying a bill. When initiating an NFC contactless payment, scanning a QR code or tapping on a deeplink, a transfer overview completed with the data of the payment transaction will appear in the mBanking or mBanking Business mobile bank service. If all the details are correct, you can initiate the instant transfer i.e. finish the payment transaction with a single click followed by authentication with a PIN code or a biometric identification.

Through which banking channels is the qvik instant payment service available?

Through the mBanking service of the UniCredit mBanking mobile application*. (* iOS 5.47.12, Android 4.49.10.0.)
Through mBanking Business service of the UniCredit mBanking Buiness mobile application ( iOS 5.40.25 és Android 4.41.17.0)

Is it necessary to have a separate agreement to use the service?

As a condition for using the qvik instant payment service, our customer must have a contract for the mBanking or mBanking Business service and it must be activated in the UniCredit mBanking or mBanking Business mobile app. No separate agreement is required.

How can qvik instant payments be initiated for non-online / physical purchases?

Please indicate at the checkout if you want to use the qvik instant payment service, specifying whether you want to use a QR code or NFC, and that you want to use UniCredit bank’s mobile app The merchant must record data on the terminal necessary for the payment (i.e name of bank, amount etc)

For NFC payments, simply tap your phone on the POS terminal.
For QR code payments, scan the QR code generated on the terminal
- with the function integrated into the mBanking service (“Transfer by scanning QR code” option within the “Scan & Pay” submenu available from the “Transfers” menu item). or
- with your phone’s camera (in case of devices suitable )

and log in to the mBanking or mBanking Business service.

Check the data on the appearing transfer overview page. If everything is in order, approve the transaction with a PIN code or a biometric identification to launch the instant transfer. Attention! Before approving the transaction check the data, especially the amount recorded.

How to make an online purchase using the qvik instant payment service?

Scan the QR code available online or received in an e-mail, or tap on a deeplink (leading you into mBanking or mBanking Business service).
You can scan the QR code using the function integrated into mBanking service (“Transfer by scanning QR code” option within the “Scan & Pay” submenu available from the “Transfers” menu item), or (in the case of iPhones) with the phone’s camera or the QR code reader installed on the mobile phone.
By clicking on a deeplink or using QR code scanners, the completed transfer order will appear after logging in to the mBanking service, which you can approve after a thorough check and start the instant transfer with a PIN code or biometric identification.

Benefits of the qvik instant payment service:

You can pay in shops with NFC contactless payment using your mobile phone without the need to have a bankcard. All you need is an activated mBanking or mBanking Business mobile banking service and a payment account with a positive balance.
A new type of payment solution with a simple and fast payment experience for our customers.
There is no need to enter your bankcard details when shopping online.

What are the fees for paying with an instant transfer order initiated using the qvik instant payment service?

For private individuals the service is free of charge.¹ The fee for our small business customers is the same as the fee for a transfer submitted electronically. However, the Bank does not charge this fee as a special offer. The promotion is valid until January 31, 2025.

What should you pay attention to when using the qvik instant payment service?

If you have several banking applications on your mobile phone, choose carefully which one you want to pay from.
If you have several payment accounts, definitely check which account you’re transferring from! Tap on the account to change it.
Carefully check the details on the overview page, especially the amount and the name of the merchant. Make sure that everything is correct before starting to transfer.
When tapping on a deeplink, always check if
You have landed in the mBanking service of the UniCredit mBanking mobile application.
You ordered anything from the specific merchant and if the price is ok.
You never have to enter bankcard details or log in to eBanking, if you are required to any of these you should stop the process immediately.

Further information

Starting from 06.03.2024, the request-to-pay service is available at UniCredit Bank

What is request-to-pay?

Request-to-pay is a standardised message sent by the beneficiary to the payer to initiate a payment in the domestic payment system for the settlement and execution of an instant payment transfer order. In other words, a request-to-pay order is an instant credit transfer order in HUF, prepared by the beneficiary and sent to the payer, which is received by through the electronic banking channel used by the payer. The transaction requires the explicit consent of the payer.

The request-to-pay process:

Agreement on the payment method and collection of account information (name + account number or secondary identifier) from the Payer.
The Beneficiary creates a payment request, providing the payer and transaction detail.
The Beneficiary’s bank forwards the request-to-pay order to the payer's bank (if the payer is not an intra-bank) via GIROINSTANT clearing system.
The Payer's bank notifies the Payer of the receipt of the request (at the same time confirming to the Beneficiary's bank that the request has been successfully received).
The Payer may approve the request before the expiry date, initiating an instant payment, but may also reject it.
A positive response to the payment request is received by the Beneficiary's bank in the form of an instant payment (in case of rejection, a reject confirmation will be sent).
The Beneficiary's bank credits the amount to the Beneficiary's account and informs the Beneficiary that the request has been successfully fulfilled (in case of rejection, the beneficiary will be notified of the rejection).

What can request-to-pay be used for?

Request-to-pay is a new payment initiation method based on the instant payment system, which can be used for payments between persons, settlements between companies or between service providers and consumers.

What exactly do we offer as part of the request-to-pay service?

Our customers can submit a request-to-pay order to the bank as a beneficiary against another account holder (inside or outside the bank) as a payer. If the payer approves the request, the order is executed as an instant payment and our client becomes the beneficiary of that transfer.

Our clients may receive a request-to-pay order as a payer from another account holder (internal or external). By approving the request, they can place an instant payment order against their own payment account, the beneficiary of which will be the party sending the request-to-pay order.

Which channels are available for the request-to-pay service?

All our electronic banking channels: UniCredit eBanking, UniCredit mBanking*, UniCredit mBanking Business**, Spectra, SpectraNet and MultiCash).

* The app version that includes the payment request feature is not available on phones with Huawei and iOS 12 or older
** Phones with an operating system older than iOS 12 do not have an app version that includes the payment request feature

Do you need a separate agreement to use this service?

To use the request-to-pay service (as beneficiary or payer), our customers must have an agreement for electronic banking services. No further agreement is required.

What do the terms "validity period" mean in the payment request?

In the request-to-pay order the beneficiary specifies the validity period, which cannot be longer than 2 months from the date of the order submitted. During the validity period of the payment request, the payer may approve or reject the payment request. If the payer does not approve or reject the payment request during its period of validity, the payment request may no longer be used to execute an order after the expiry of the period of validity. Even after the rejection of a payment request by the payer, a transfer order may no longer be executed based on the same request. If the execution of a credit transfer order submitted based on a payment request is rejected by the bank due to insufficient funds, the payer account holder may initiate an instant credit transfer again by approving the payment request during the validity period of the payment request.

In Spectra/SpectraNet/MultiCash, what does the "payment deadline" in the payment request mean?

The sender (the beneficiary) of the payment request may indicate the payment deadline as well, which may be earlier than the validity period. This deadline depends on the agreement between the payer and the beneficiary, the due date of the payment obligation (e.g. the due date of the invoice to be paid by the request). However, the final deadline for taking a decision on the request-to-pay order (approval or rejection) is the validity period indicated in the request.

What happens if the payer approves the payment request?

Approving a payment request means initiating an instant transfer of funds, with the details specified in the request-to-pay order or, if the beneficiary has given the payer the option, with the amount amended by the payer.

How can a payment request be initiated?

The beneficiary must provide all the information necessary to initiate an instant payment transfer based on a payment request in the request-to-pay order. Instead of the payer's name and account number, the payer's secondary account identifier may be provided. The beneficiary may allow the payer to modify the amount specified in the payment request. In case the amount is amended, the payment request shall be executed with the amended amount, if approved.

The Bank shall reject the request-to-pay order or shall not forward it to the payer, stating the reason for the rejection, in the following cases:

the payer does not have one of the electronic banking services,
the payer has expressly waived acceptance of the payment requests or the payment request has been submitted by the beneficiary to a payment account which is not at the free disposal of the account holder

The payment request may be cancelled/recalled by the beneficiary within the validity period, prior to rejection or approval by the payer, for example if the amount is incorrect or the payment has been settled in another way.

How can I track the status of payment requests?

The payer will be notified by the bank of the payment request received. The beneficiary will be informed by the bank immediately after the payment request is notified of its execution or rejection. The notifications are delivered via the electronic banking channels, where the status of the request-to-pay orders can also be continuously tracked in the list of outgoing and incoming requests.

What are the fees applicable for the request-to-pay service?

The fees for the request-to-pay service are set out in the list of conditions in force from 06.03.2024.

How does the payment request differ from direct debit?

Request-to-pay is a new payment initiation method in the instant payment system, but it is not a direct debit. Unlike direct debits, where the transaction is executed based on a prior mandate, a payment request is only executed if the payer approves the request. To initiate a request-to-pay order, the beneficiary does not need to register as a direct debtor and is not subject to the obligations associated with direct debits (e.g. the direct debit order must be sent to the bank at least 6 days before the due date).