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BUSINESS TERMS AND CONDITIONS

for cash transactions carried out for retail customers

Effective from: 1 December 2014

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CONTENTS

I. GENERAL PROVISIONS ..................................................................................................................... 4

TYPES AND LOCATIONS OF CASH TRANSACTIONS AND THE GENERAL RULES APPLICABLE TO THE OPENING HOURS ....... 4

FEES AND EXTRA CHARGES ......................................................................................................................... 5

II. CASH TRANSACTIONS PERFORMED BY THE MNB ........................................................................... 5

EXCHANGE OF BANKNOTES AND COINS WITHDRAWN FROM CIRCULATION EXCHANGEABLE TO LEGAL TENDER ........... 5

EXCHANGE OF INCOMPLETE BANKNOTES ...................................................................................................... 5

EXCHANGE OF HARD-TO-RECOGNISE, DAMAGED BANKNOTES AND COINS ........................................................... 5

EXPERT EXAMINATION OF PRESUMABLY COUNTERFEIT OR FORGED BANKNOTES AND COINS ................................... 6

EXCHANGE OF COMMEMORATIVCE BANKNOTES AND COMMEMORATIVE COINS TO CURRENCY IN CIRCULATION, AND

REDEEMING RECEIPTS THAT ENTILE THE HOLDER TO COMMEMORATIVE BANKNOTES ............................................ 6

III. MISCELLANEOUS PROVISIONS ......................................................................................................... 7

IV. CLOSING PROVISIONS ...................................................................................................................... 8

ANNEX 1 TO THE BUSINESS TERMS AND CONDITIONS FOR CASH TRANSACTIONS CARRIED OUT FOR RETAIL CUSTOMERS .. 9

ANNEX 2 TO THE BUSINESS TERMS AND CONDITIONS FOR CASH TRANSACTIONS CARRIED OUT FOR RETAIL CUSTOMERS 10

ANNEX 3 TO THE BUSINESS TERMS AND CONDITION FOR CASH TRANSACTIONS CARRIED OUT FOR RETAIL CUSTOMERS . 12

ANNEX 4 TO THE BUSINESS TERMS AND CONDITION FOR CASH TRANSACTIONS CARRIED OUT FOR RETAIL CUSTOMERS . 14

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I. GENERAL PROVISIONS

TYPES AND LOCATIONS OF CASH TRANSACTIONS AND THE GENERAL RULES APPLICABLE TO THE OPENING HOURS

1. The Magyar Nemzeti Bank (hereinafter: the MNB) offers the cash transaction services listed below to natural persons, legal entities and entities without legal personality that do not keep a bank account with the MNB and do not qualify as cash processing organisations (hereinafter jointly: the Customer):

a) exchange of banknotes and coins withdrawn from circulation that can be exchanged to legal tender,

b) exchange of incomplete banknotes,

c) exchange of hard-to-recognise, damaged banknotes and coins,

d) expert examination of presumably counterfeit or forged banknotes and coins,

e) exchange of commemorative banknotes and commemorative coins to circulation banknotes or coins and redeeming receipts that entitle the holder to commemorative banknotes,

f) exchange of banknotes fit for circulation by customer once, for maximum 4 pieces of upgraded banknote.

2. The MNB carries out the cash transactions listed under Section 1 exclusively with regard to forint

banknotes and forint coins, with the exception of the expert examination of presumably counterfeit or

forged banknotes and coins. 3. With the exception of the provision in paragraph f) of section 1, in carrying out cash transactions the MNB

makes payments in the banknote and coin denomination as it may decide, with the stipulation that it does not make payments in denominations smaller than the banknote or coin denomination handed over by

the Customer. 4. Cash transactions conducted by the MNB are available for customers at the locations and during the

opening hours indicated below:

Cash Logistics, 1054 Budapest, Kiss Ernő utca 1.

(The entrance at Kiss Ernő utca 1. to the MNB’s building at Szabadság tér 8–9.)

Mailing address: Magyar Nemzeti Bank 1850 Budapest E-mail: penztar@mnb.hu

Telephone: 06-1-428-2650 Website: http://www.mnb.hu/

Regular opening hours for cash transactions:

Monday: 10:00 - 18:00 hours Tuesday – Wednesday – Thursday: 8:00 - 15:00 hours Friday: 7:00 - 12:00 hours

Under the applicable statutory regulations governing the working days before and after non-working days, the cashier’s office of the MNB is closed on working days falling on Saturdays and on the last day of the year.

5. Acting on behalf of the MNB, the Magyar Pénzverő Zrt. (Hungarian Mint Ltd.) exchanges commemorative

banknotes and coins for circulation banknotes or coins and redeems receipts that entitle the holder to commemorative banknotes at the location and during the opening hours indicated below:

1054 Budapest, Hold u. 17. Telephone: +36-1-800-8110 Fax: +36-1-800-8113, 210-4448

Regular opening hours:

Monday – Tuesday – Wednesday – Friday: 9:00 - 15:30 hours

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Thursday: 9:00 - 17:30 hours E-mail: coins@hu.inter.net

FEES AND EXTRA CHARGES

6. The MNB does not charge any fees, extra charges, commission or costs for the cash transactions performed under these Business Terms and Conditions.

II. CASH TRANSACTIONS PERFORMED BY THE MNB

EXCHANGE OF BANKNOTES AND COINS WITHDRAWN FROM CIRCULATION EXCHANGEABLE TO LEGAL TENDER

7. The MNB exchanges banknotes and coins withdrawn from circulation to legal tender at face value until the deadline for exchange, after which no such request can be granted.

8. The MNB returns the Customer the banknotes and coins withdrawn from circulation that cannot be

exchanged to legal tender sent by post as a registered letter with declaration of value (insured letter) by the Customer only at the Customer’s explicit request.

EXCHANGE OF INCOMPLETE BANKNOTES

9. The MNB pays full face value for incomplete banknotes if the Customer submits more than 50% of the banknote for the purpose of exchange. Glued incomplete banknotes can be exchanged only if supporting evidence can be provided that the rejoined parts belong to the same banknote.

The MNB shall withdraw banknotes with a surface of which less than 50% is present without any payment made. The MNB shall store such banknotes for 30 calendar days, subsequent to which it destroys them.

During the 30-calendar day storage period the Customer is entitled to submit, for the purpose of exchange, the missing part(s) of the given banknote that has/have been recovered, attaching, in respect of the part of the banknote already handed over, the acknowledgement of receipt from the MNB. If supporting evidence can be provided that the part stored by the MNB and that/those submitted subsequently belong to the same banknote and together they constitute over 50% of the surface of the banknote, the MNB exchanges the incomplete banknote to legal tender at face value.

The form of the acknowledgement of receipt is contained in Annex 2 to these Business Terms and Conditions.

10. The MNB shall not pay compensation for the value of banknotes or coins which have been destroyed. 11. The MNB shall, without any payment made, withdraw the incomplete banknote posted in a registered

insured letter that cannot, based on sections 9 and 10, be exchanged to legal tender, concurrently notifying the Customer in a letter sent by post or in an e-mail message if the Customer provides an e-mail address and expressly requests notification via e-mail.

EXCHANGE OF HARD-TO-RECOGNISE, DAMAGED BANKNOTES AND COINS

12. The MNB exchanges hard-to-recognise and damaged banknotes and coins at face value if the authenticity and the face value of the banknote or coin can be established beyond reasonable doubt.

13. Chemically or biologically damaged (soiled or contaminated) banknotes and banknotes that have become damaged (soiled or contaminated) as a result of the operation of security equipment used for preventing theft of money are taken over from the Customer for expert examination by the MNB against an acknowledgement of receipt.

The form of the acknowledgement of receipt is contained in Annex 2 to these Business Terms and Conditions.

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14. The MNB accepts soiled or contaminated banknotes from authorities proceeding in a criminal case only in

sealed packaging, along with a covering letter or minutes.

15. The MNB pays the Customer the value of the damaged (soiled or contaminated) banknotes taken over for expert examination on the basis of the expert examination carried out, in accordance with the result of the calculation check, in line with the method specified on the acknowledgement of receipt by the Customer; the MNB does not return the received damaged (soiled or contaminated) banknote.

16. In the event that, on the basis of the expert examination performed, no value can be paid, the MNB withdraws the received damaged (soiled or contaminated) banknote, concurrently notifying the Customer in a letter sent by post or in an e-mail message if the Customer provides an e-mail address and expressly requests notification via e-mail. The bank does not return the damaged (soiled or contaminated) banknote taken over by it.

EXPERT EXAMINATION OF PRESUMABLY COUNTERFEIT OR FORGED BANKNOTES AND COINS

17. The MNB makes out an acknowledgement of receipt of the suspicious banknotes and coins, including foreign currencies, taken over from the Customer and forwarded for currency expert examination.

The form of the acknowledgement of receipt is contained in Annex 2 to these Business Terms and Conditions.

18. The MNB carries out the examination of the legal tender taken over for currency expert examination within

30 calendar days.

19. A The MNB pays the value of forint banknotes and coins found to be authentic by the currency expert examination to the Customer in accordance with the method specified on the acknowledgement of receipt; the MNB does not return the banknotes and coins submitted for examination.

20. Foreign currencies that prove to be authentic as a result of the currency expert examination are returned in a registered letter with declaration of value to the Customer by the MNB.

The MNB is also entitled to hand over the foreign currency that has proven to be authentic as a result of the currency expert examination to an authorised representative of the Customer. The provisions of Section 29 of these Business Terms and Conditions shall apply to the letter of authorisation, and the letter of authorisation and the declaration must be forwarded to the National Currency Expert Centre of the MNB.

21. Banknotes and coins – including foreign currencies – found to be counterfeit or forged by the currency expert examination are withdrawn by the MNB without any compensation paid.

22. The information related to the banknotes and coins – including foreign currencies – found to be counterfeit or forged according to the currency expert examination and the results of the currency expert examination performed are forwarded by the MNB to the competent local investigative authority, in accordance with the provisions of the agreement for co-operation in combating counterfeiting concluded with the National Police Headquarters.

23. The MNB notifies the Customer of the result of the currency expert examination in a letter sent by post or in an e-mail message if the Customer provides an e-mail address and expressly requests notification via e-mail.

EXCHANGE OF COMMEMORATIVE BANKNOTES AND COMMEMORATIVE COINS TO CURRENCY IN CIRCULATION, AND REDEEMING

RECEIPTS THAT ENTITLE THE HOLDER TO COMMEMORATIVE BANKNOTES

24. The Magyar Pénzverő Zrt. (Hungarian Mint Ltd.), acting on behalf of the MNB, exchanges commemorative banknotes and commemorative coins qualifying as legal tender to circulation banknotes and coins at face value, and redeems receipts that entitle to commemorative banknotes (at the place and during the opening hours specified in point 1.5).

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III. MISCELLANEOUS PROVISIONS

25. The MNB carries out its cash transactions within the framework of the prevailing statutory regulations, particularly in conformity with the Civil Code, the Central Bank Act and the provisions of the statutory regulations governing the technical tasks related to the processing and distribution of banknotes and coins and their protection against counterfeiting as well as the prevention of and combating money laundering.

26. The MNB shall not be liable for any damage or losses resulting from unavoidable reasons beyond the MNB’s control, following in particular from Acts of God, provisions of domestic or foreign statutory regulations or regulatory provisions, refusal or late granting of necessary permits or approvals by authorities, delayed submission or lack of other necessary documents as well as defective or incorrect data reporting/provision.

27. The MNB shall treat all the information that comes to its knowledge concerning the Customer in the course of the cash transactions conducted by it as a bank secret, and – with the exception of cases regulated in separate statutory regulations – the MNB discloses it to third persons only if authorised to do so by the Customer in a public document or a private document with full probative force precisely defining the scope of the bank secrets that can be disclosed in respect of the Customer.

28. Customers may submit their complaints and other comments regarding the cash transactions performed

by the MNB orally or in writing. The form for submitting complaints and other comments and recording complaints lodged orally is contained in Annex 4 to these Business Terms and Conditions.

The MNB investigates the Customer’s complaint within the shortest time possible, but not later than within 15 calendar days from the receipt of the complaint by the Bank; in justified cases this deadline may be extended by up to 30 calendar days. The MNB informs the Customer about the extension of the deadline for handling the complaint, its decision made in connection with the customer complaint and the measures taken or waived in writing.

29. The Customer’s authorised representatives may also act on behalf of the Customer at the MNB in connection with cash transactions concerning the Customer.

Customers are obliged to notify the MNB about the names of those acting on their behalf as well as any

changes therein in the form of an authorisation in a public document or a private document with full probative force in the case of natural persons, or in the form of a declaration signed by the person(s) entitled to represent the given organisation in the case of legal entities or organisations without legal personality. In addition to the names of the persons indicated on the authorisation or declaration the numbers of their respective personal identification cards also must be provided. In the case foreign nationals the number of an official document – containing name, place and date of birth, the authorised representative’s photo and own signature – suitable for the identification of the person acting on behalf of the Customer has to be given.

30. Customers’ liability for the person(s) acting on their behalf is direct and comprehensive.

31. If suspicion of crime arises in connection with the legal tender submitted to the MNB within the framework of initiating a cash transaction under the scope of these Business Terms and Conditions, the MNB is entitled to withhold the payment of the value until the investigation by the law enforcement agencies is completed.

In the above case the MNB takes over the currency against an acknowledgement of receipt, with the simultaneous identification of the Customer.

The MNB pays the value of the currency after the law enforcement agencies have closed the investigation only if the law enforcement agency acting in the matter allows doing so.

The MNB informs the Customer in a letter sent by post or in an e-mail message if the Customer provides an e-mail address and expressly requests notification via e-mail if no value is allowed to be paid on the basis of the provision of the law enforcement agency.

In the event that the circumstances of the damage are confirmed by official minutes, this document also has to be attached to the acknowledgement of receipt.

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32. The MNB pays the value of the currency taken over on the basis of an acknowledgement of receipt pursuant to the provisions of these Business Terms and Conditions to the Customer by postal money order (unless the Customer specifies a bank account number) or transfer to a payment account (provision of the account number is mandatory), in accordance with the Customer’s payment instructions.

33. In the event that the cash transaction under the scope of these Business Terms and Conditions is initiated by the Customer by post, the MNB pays the value of the banknotes and coins sent by the Customer in an insured letter – and posted prior to the expiration of the deadline for exchange in the case of banknotes and coins withdrawn from circulation – by postal money order (unless the Customer specifies a bank account number) or transfer to a payment account (provision of the account number is mandatory), in accordance with the Customer’s payment instructions.

IV. CLOSING PROVISIONS

34. These business terms and conditions enter into force on 1 December 2014.

35. The MNB displays these Business Terms and Conditions in its cashier premises and publishes them on its website. The MNB may change these Business Terms and Conditions unilaterally. The MNB displays any amendments to the Business Terms and Conditions and publishes them on its website 15 calendar days prior to their entering into force.

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ANNEX 1 TO THE BUSINESS TERMS AND CONDITIONS FOR CASH TRANSACTIONS CARRIED OUT FOR RETAIL

CUSTOMERS

DEFINITIONS

For the purpose of these Business Terms and Conditions

banknotes and coins: forint banknotes and forint coins in circulation issued by the MNB as well as forint banknotes and forint coins withdrawn from circulation, but still exchangeable to legal tender, including commemorative banknotes and commemorative coins;

upgraded banknote: banknote issued by the MNB after 1 September 2014;

banknotes and coins withdrawn from circulation: banknotes and coins that do not qualify as legal tender as defined by the MNB’s announcement (hereinafter: MNB announcement) published before 1 May 2004 or in an MNB decree;

banknotes and coins withdrawn from circulation exchangeable to legal tender: banknotes and coins that can be exchanged to legal tender in the period between the withdrawal deadline and the exchange deadline;

withdrawal deadline: a date determined in an MNB announcement or an MNB decree starting from which banknotes and coins withdrawn from circulation cease to be legal tender;

exchange deadline: a date – determined in an MNB decree or in a manner that takes account of the deadlines set forth in Article 23(3) of Act CXXXIX of 2013 on the Magyar Nemzeti Bank – until banknotes and coins withdrawn from circulation are exchanged to legal tender by the MNB;

incomplete banknote: a banknote (with an incomplete surface) that is unfit for circulation according to Sections 5 and 6 of Annex 1 to the MNB Decree on the processing and distribution of banknotes, and on technical tasks relating to the protection of banknotes against counterfeiting;

presumably counterfeit or forged (suspicious) banknotes and coins: banknotes and coins the authenticity of which is doubtful;

receipt that entitles its holder to commemorative banknotes: a document that confirms the payment – in post offices prior to the date of issue – of the value of a commemorative banknote with a face value of HUF 2000 issued through MNB announcement No. 6/2000. (MK 71.) and entitles its holder to the receipt of the commemorative banknote;

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ANNEX 2 TO THE BUSINESS TERMS AND CONDITIONS FOR CASH TRANSACTIONS CARRIED OUT FOR RETAIL

CUSTOMERS

A C K N O W L E D G E M E N T

of receipt of presumably counterfeit or forged or hard-to-recognise, damaged banknotes, coins1 and

incomplete banknotes

Customer data

name: ........................................................................................................................................................................

home address or registered office: ...........................................................................................................................

type and number of identification document: ...........................................................................................................

telephone2: .......................................................... e-mail

2: ........................................................................................

representative’s3 name: ............................................................................................................................................

home address: ...........................................................................................................................................................

type and number of identification document: ..........................................................................................................

telephone2: .......................................................... e-mail

2: ........................................................................................

List of currencies handed over:

Currency Coins/Banknotes Denomination Number of

coins/banknotes Serial number (of

banknotes) Year of issue

1

2

3

4

5

6

The Customer’s (authorised representative’s) declaration regarding the banknote(s) and coin(s) and their origin:

…………………………………………………………………………………………………………………………………………………………………

…………………………………………………………………………………………………………………………………………………………………

Number and date of minutes, official certificate, if any:

………………………………………………………………………………………………………………………………………………………………….

1 Underline as appropriate. 2 Giving the data is not mandatory. 3 The data for the representative have to be given if the Customer is a legal entity or an organisation without legal personality and if the natural person Customer does not act personally but through a representative.

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Please, pay me the value of the currency (currencies) via post/transfer.1

In the case of transfer, the name of the payment service provider where the payment account is kept and the number of the payment account:

………………………………………………………………………………………………………………………………………………………………

If, for any reason, the tender in question cannot be exchanged to legal tender, I wish to have the related notification sent to the above e-mail address/in a letter by post

1.

I accept the committee’s check calculation of the currencies handed over. I received a copy of the acknowledgement of receipt today. Budapest, ……………………….

…………………………………………………………………. customer (authorised representative)

I acknowledge the receipt of the presumably counterfeit or forged or hard-to-recognise, damaged currencies

for expert examination. The MNB will carry out the expert examination within 30 working days, and – depending on the result of the expert examination and the proving – will pay the value of the currencies received in the way indicated by the Customer on this acknowledgement of receipt.

If no compensation can be paid on the basis of the expert examination, the MNB will inform the Customer about it in writing. /I have taken over the incomplete banknote with less than 50% of its surface present for the purpose of withdrawal and destruction. The MNB shall store such banknotes for 30 calendar days, subsequent to which it destroys them. During the 30-calendar day storage period the Customer is entitled to submit, for the purpose of exchange, the missing part(s) of the given banknote that has/have been found, attaching, in respect of the part of the banknote already handed over, the acknowledgement of receipt from the MNB. If supporting evidence can be provided that the part stored by the MNB and that/those submitted subsequently belong to the same banknote and together they constitute over 50% of the surface of the banknote, the MNB exchanges the incomplete banknote to legal tender at face value.

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Budapest, …………………………

…………………………………………………………. cashier

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ANNEX 3 TO THE BUSINESS TERMS AND CONDITION FOR CASH TRANSACTIONS CARRIED OUT FOR RETAIL CUSTOMERS

Banknotes and coins withdrawn from circulation and exchangeable to legal tender

Banknote

Exchange deadline

1 September 2019

1 September 2019

27 July 2019

31 August 2027

16 November 2029

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Banknotes and coins withdrawn from circulation that cannot be exchanged

Banknote Exchange deadline Coin Exchange deadline

31 December 1993

31 December 1993

31 December 1993

31 December 1993

31 December 1996

31 December 1997

31 December 2000

31 December 1997

31 March 2000

31 December 1995

28 February 2013

31 December 1995

28 February 2013

31 December 1995

31 December 1995

31 December 1995

31 December 1999

3 April 1999

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ANNEX 4 TO THE BUSINESS TERMS AND CONDITION FOR CASH TRANSACTIONS CARRIED OUT FOR RETAIL CUSTOMERS

CUSTOMER SERVICE DATA SHEET for submitting complaint and other comments

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File no.

Customer data

Name: ........................................................................................................................................................................

Home address or registered office: ...........................................................................................................................

Telephone2: .................................................................. e-mail

2: ...............................................................................

Representative3: ........................................................................................................................................................

Complaints or other comments, description of the circumstances of the case:

……………………………………………………………………………………………………………………………………………………………………………

………………………………………………………………………………………………………………………………………………………

……………………………………………………………………………………………………………………………………………………………………………

………………………………………………………………………………………………………………………………………………………

Related attached documents:

……………………………………………………………………………………………………………………………………………………………………………

………………………………………………………………………………………………………………………………………………………

Complainant’s request:

Please, pay me the value of the currency (currencies) via post/transfer.1

In the case of transfer, the name of the payment service provider where the payment account is kept and the number of the payment account:

………………………………………………………………………………………………………………………………………………………………

Other requests:

……………………………………………………………………………………………………………………………………………………………………………

…………………………………………………………………………………………………………………………………………………….

Budapest, …………………………

………………………………………………………………… customer (authorised representative)

1 Underline as appropriate. 2 Provision of the data is not mandatory. 3 To be provided if Customers lodge their complaints or make other comments through their authorised representatives.