Standing order

Standing order

More time. More freedom. With OTP banka standing orders.

Standing orders serve for paying of utility bills or executing of remittances debiting the account of your choice and crediting some other account. They are executed by the bank, following your request, in your name and on your behalf. Save your precious time and set up a standing order whereby authorising OTP banka to take care of your financial obligations for you. Moreover, the standing order can help your endeavours to save, and here is how...

Take advantage of these opportunities

Standing orders and direct debits can be set up for the following:

  • paying of obligations outside OTP banka
  • paying of obligations within OTP banka


Who can set up a standing order?

This option is available to all customers holders of current, giro or foreign currency accounts with OTP banka, as well as signatories to their accounts. You can set up a standing order to pay someone else's bills (e.g. radio or TV licence or phone bills).


Advantages of a standing order

In addition to settling of various obligations and paying utility bills you might have, you can also use a standing order to commit yourself to saving. By setting up a Scheduled Savings or a Children’s Scheduled Savings account in OTP banka, the amounts you wish to set aside can be earmarked for a certain purpose, e.g. skiing, travelling, children’s education… The standing order will help you in a way that the amount intended for that purpose will be transferred to your savings account automatically, so you will be committed to savings. It is worth a try, especially when you know that the entire process is free of charge.


Date and manner of executing a standing order

The date of executing of the standing order is defined in the agreement. 
For your standing order to be executed in full, you must make sure there are sufficient funds on your account at the due date, which includes your authorised overdraft. Otherwise, the Bank will not be able to execute such standing order, and you will have to make separate arrangement by yourself. 
A standing order for loan repayment is executed in full or partially, debiting your account up to the authorised overdraft limit. Under any standing order for loan repayment that is not executed on the due date, or is executed only partially, execution attempts will continue until complete settlement.

Standing order for paying of obligations within OTP banka

Standing orders for paying of obligations within the OTP banka can be set up for:

  • transfer of funds to other account holders with OTP banka, e.g. monthly payments to your children, students, your grandchildren, landlord,
  • transfer of funds between your accounts with OTP banka,
  • payments onto Scheduled Savings or Children’s Scheduled Savings accounts,
  • repaying of loan instalments.

Payment of loans instalments in OTP banka by way of a standing order

If you have a loan at OTP banka, you can set up a standing order for repayment of your loan, by debiting your current account or foreign currency account, with the following benefits:

  • choosing the maturity date of your monthly instalment,
  • no unnecessary queuing at branches,
  • setting up the standing order at any branch of OTP banka.

The Bank charges a fee for setting up of standing orders in accordance with its Decision on Pricing.


OTP Invest Standard and OTP Invest Plus Standing Orders

Invest automatically

In order to make investing into investment funds accessible and hassle-free, we have created a standing order for purchase of units in open-end investment funds of OTP Invest. By setting up OTP Invest Standard and OTP Invest Plus standing orders you will be able to purchase units and invest surplus funds from your account on a regular basis, whilst they can still be available at a short notice if you happen to need them. Standing orders make doing business easy…

What is OTP Invest Standard?

If you hold a current, a foreign currency or a giro account with OTP banka, you can set up a standing order whereby giving instructions to use the funds on such accounts for the purchase of units in one of OTP Invest investment funds at your convenience: monthly, quarterly, semi-annually or annually. You choose the amount yourself but it should not be lower than the minimum required amount for purchase, defined for every investment fund separately. 
This way, your funds will generate a yield higher than the interest you earn on your demand deposit account.

You can set up the OTP Invest Standard standing order for the following OTP Invest open-end investment funds:

  • OTP Meridian 20
  • OTP Index Fund
  • OTP Balanced Fund
  • OTP Money Fund
  • OTP Euro Money Fund

 OTP banka charges no fee for the Invest Standard standing order.

 What is OTP Invest Plus?

If you happen to have some extra money in your current, foreign currency or giro account, whether occasionally or continuously, and you would like to invest it whilst still leaving a certain amount in the account, then this is the right service for you. 
OTP Invest Plus is a service of OTP banka enabling you to lay down the guidelines for cash management as you wish. The Bank will invest your money, following your order, in OTP Invest Money Fund, and – should you need it – the money can be available within 24 hours. By setting up this service, you will earn the yield generated by the Money Fund while OTP banka does all the work related to the purchase of units. The units in Money Fund will be purchased once a month, on the date of your choice.

This way, your funds will generate a yield higher than the interest you earn on your demand deposit account.

OTP Invest Plus provides excellent long-term cash management for any “surplus” in your account. 
This service allows you to cap the amount you want to remain in your account, whilst any excess funds will be invested in OTP Invest Money Fund. In addition to this, you can also cap the amount to be invested*. 
OTP banka charges no fee for the Invest Standard standing order.

The purchase and sale of units shall be carried out in accordance with the provisions set forth in the Prospectus and the Articles of Associations of OTP Money Fund.
Additional information about OTP Invest open-end investment funds are available via flyers and brochures in OTP banka branches and on the OTP Invest web site, or by calling the Contact Centre on 072 201 555.