OBA (NDIF) Guide

Information for Customers on deposits insured by the National Deposit Insurance Fund (OBA)

We wish to kindly inform you that, in accordance with the relevant provisions of Act CCXXXVII of 2013 on Credit Institutions and Financial Enterprises (Hpt.), K&H Bank will, upon the client’s individual request, issue to the client the Guide to NDIF-protected deposits in any of its client points, during opening hours. In the Guide, the Bank provides information about the current value of NDIF-protected fixed deposits and current and savings accounts registered under the name of the Client and managed by the Bank.

The insurance provided by the OBA does not cover deposits which have been found by a court of law to have been laundered, after the termination of the credit institution's membership, the OBA shall not pay compensation for deposits covered by another country's deposit insurance. Please be informed that, starting from 1 January 2021, the coverage provided NDIF has only been available to registered deposits of depositors identified in accordance with the provisions of ‘Money Laundering Act’.

Please note, in case of non-private individuals, that under Article 213 of the Credit Institutions Act the insurance provided by the National Deposit Insurance Fund (‘OBA’) will not cover the deposits of budgetary institutions; municipal governments; insurance and re-insurance companies, voluntary mutual insurance funds and private pension funds; investment funds, investment fund managers; the Pension Insurance Fund and their management bodies, and the pension insurance administration agency; extra-budgetary funds; financial institutions and payment service institutions; the National Bank of Hungary (‘MNB’); investment firms, members of the stock exchange and commodity dealers; compulsory or voluntary deposit insurance, institution- and investor-protection funds, and the Pension Guarantee Fund funds; the deposits of the foreign equivalents of the deposit-holders listed above. The insurance provided by the OBA will cover the deposits of municipal governments and budgetary institutions established by municipal governments if according to the data in the financial statements for the year preceding the reporting year by two years the budget total of the municipal government does not exceed five hundred thousand euros.