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    Glossary

    This glossary contains definitions of the terms used in the General Terms and Conditions for current accounts and services, contactless debit cards and Raiffeisen ONLINE for private individuals, and other bank documents of Raiffeisenbank (Bulgaria) EAD.

    Raiffeisenbank (Bulgaria) EAD provides this glossary to its clients at any time, including to persons that are not clients, by making it available at its bank offices or on its website at www.rbb.bg.

    The glossary is supplemented and updated in accordance with current legislation and the development of products and services offered by Raiffeisenbank (Bulgaria) EAD.

    Raiffeisenbank (Bulgaria) EAD provides the glossary in English, and in case of inconsistency or contradiction, the original text in Bulgarian shall prevail.

    A

    Account holder

    A person in whose name an account is opened and who has the right to dispose of the funds on such account.

    Additional card

    Upon the request of a cardholder (account holder), the bank issues additional debit/credit cards (including a micro card and/or a sticker card) to the same or another person to a debit or credit card already issued. Additional cards are issued to use the funds or part of the funds on the account/credit limit.

    Annual percentage rate (APR)

    APR represents the percentage of the total costs on the consumer loan (interest, other direct or indirect costs, commissions, remuneration of any kind) expressed as an annual percentage of the total amount of the loan granted.

    АТМ terminal device (Automated Teller Machine)

    Automated Teller Machine (ATM) for making card transactions such as cash withdrawal, payment of goods or services, balance check, PIN change and other functions.

    Attachment on receivables for funds available on bank account

    It is imposed on the basis of an attachment notice issued by an enforcement authority (judicial or public enforcement agent). The restriction requires that the account holder to be deprived of the opportunity to dispose of their funds up to the amount of the obligation specified in the attachment notice. The enforcement, the scope and the lifting of the attachment are entirely within the competence of the enforcement authority.

    Authorization of a bank card transaction

    A process that verifies the ability to execute a transaction by a bank card by checking the validity of the card, availability of a sufficient amount of funds or authorized limit, daily and weekly limit amounts, the correctness of the PIN, etc.

    B

    Balance statement on card on a АТМ terminal device (checking balance)

    The cardholder has the possibility to obtain a statement at an ATM terminal in the country for the available balance that can be used with their bank card.

    Bank card transaction

    Performing a bank card operation such as cash withdrawals (at ATM or POS), payment of goods and services at a merchant (POS), on the Internet, by telephone, at an ATM.

    Business day

    Each day on which the Bank carries out the activity necessary for the execution of a payment transaction; for payment transactions related to the transfer of funds from/to other payment service providers, Saturdays and Sundays, when not declared as working days, as well as the official holidays in the Republic of Bulgaria are considered as non-working days.

    C

    Card exchange rate

    When executing transactions by a card abroad in a currency other than the currency of the account, the amount of the transaction is converted to an amount in the currency of the account at card exchange rate for international card transactions applied on the day of posting of the relevant transaction.

    Card holder

    Private individual person holding a bank debit, credit or prepaid card (including a micro card and/or a sticker card).

    Closing of a current account

    Closing a current account that is used by the client for execution of payment transactions.

    Contactless operation

    Payment operation by a card marked with contactless payments sign/symbol (Contactless payments symbol), made by placing the card near (contactless) to the POS/АТМ terminal device.

    Credit card

    The credit card is a means of remote access to an approved credit limit (or available funds on the account) for making payment and nonpayment transactions in the country and abroad, in accordance with Visa/Mastercard requirements and current legislation.

    Credit card reporting period

    This is the period to which the monthly statement refers, i.e. the period that is reported. After the end of the reporting period, the minimum repayment instalment and the total liability are formed, as well as the repayment period begins.

    Credit interest rate

    Interest rate paid to the user in connection with the holding their funds on a current account.

    Credit limit on the card

    The credit limit on the card is the amount of credit that can be used through the credit card. The credit limit is provided by the bank and can only be used by the cardholder via the card within the validity of the card and the admissible operating limits.

    Credit transfer in foreign currency to current account with another payment services provider

    At the request of the client, the payment service provider shall make transfers from the current account of the client to another current account with another payment service provider in foreign currency.

    Credit transfer in foreign currency to current account with the same payment services provider

    At the request of the client, the payment service provider shall make transfers from the current account of the client to another current account with the same payment service provider in foreign currency.

    Credit transfer in national currency to budget current account with another payment services provider

    At the request of the client, the payment service provider shall make transfers from the current account of the client to a budget current account with another payment service provider initiated by a payment order to be paid to the budget in national currency.

    Credit transfer in national currency to current account with another payment services provider

    At the request of the client, the payment service provider shall make transfers from the current account of the client to another current account with another payment service provider in national currency.

    Credit transfer in national currency to current account with the same payment services provider

    At the request of the client, the payment service provider shall make transfers from the current account of the client to another current account with the same payment service provider in national currency.

    Current account

    An account held in the name of one or more account holders used to execute payment transactions. Current accounts such as fixed-term deposits and savings deposits are used for payment services and for keeping money, as a result of which they may be required to maintain minimum balance of funds.

    CVV2/CVC2

    Represents a three-digit code written on the back of the bank card used for payment on the Internet instead of signing or entering a PIN. For confirmation of Internet transactions, CVV code for Visa cards and CVC code for Mastercard cards, which is also called a security code, is entered.

    D

    Debit card

    The debit card is a means remote access whereby the holder can access his/her funds on an account and can perform the following transactions - payment of goods and services via POS, cash withdrawal from an ATM, cash withdrawal via POS, payment of periodic transfers, payment of goods and services on the Internet, change of PIN, statement of account status, etc.

    Direct debit

    The client gives their consent to a third party (payee) to instruct the bank to make a money transfer from the client's current account to the payee's current account. The bank makes a money transfer to the payee on a date or dates agreed by the client and the payee. The amount may vary.

    F

    Fees

    All amounts due under the Tariff, such as fees, commissions, penalties, expenses, regardless of their type.

    G

    Grace period on credit card

    This is the period during which the amount spent on the credit card can be recovered, where no interest is charged on the amount spent or part thereof.

    I

    Imprinting machine

    A device for making a payment of goods and services at a merchant or for receiving cash by using a bank card. Unlike the POS terminal for payments via an imprinting machine, the information from the magnetic stripe/chip of the card is not read, but an embossed print is taken from the card.

    Inaccessible income on bank account

    Income on which a forced enforcement cannot be imposed. Inaccessible income does not fall within the scope of attachment imposed on receivables for funds on bank accounts.

    Incoming credit transfer in foreign currency

    The current account of the client with the bank is credited with amounts from transfers in foreign currency.

    K

    Keeping a current account *payment account

    The payment service provider shall service a current account that is used by the client to perform payment operations without notice period from the account holder for the use of the funds.

    M

    Micro card/ sticker card

    Additional card in the form of a micro card / a sticker card with which contactless operations can be performed - payment of goods and services, cash withdrawal, etc. when the terminal is equipped with the necessary functionality.

    Minimum repayment instalment (MRI) on credit card

    The minimum amount that the cardholder is required to pay on the credit card each month within the specified payment term (final repayment date). MRI is formed as a percentage of the credit limit used or it is a fixed amount depending on the particular product. In the event of non-payment of the MRI in due time, compensation for late payment of the delayed amount shall be charged.

    Monthly credit card statement

    After the end of the reporting period, the bank prepares a monthly credit card statement that provides information about transactions made and the status of the card - current credit limit, applicable interest rate, operations performed during the reporting period, accrued interest and fees, payments made, total amount due, minimum repayment instalment (MRI) payable, a term for depositing the MRI, available credit limit, etc.

    O

    Online client

    A client registered at “Raiffeisen ONLINE”, who uses the services available through the respective electronic access channel. One online client may have several online users duly authorized to use the relevant services on the accounts of the online client.

    Online user

    A user with granted and defined rights for a particular online client.

    Opening a current account

    The payment service provider shall open a current account of a client for execution of payment transactions without notice period from the account holder for the use of the funds.

    Operating limits on card

    Maximum amounts and number of transactions made by a bank card for a specified period of time imposed as a restriction. Operating limits can be daily, weekly, domestic and overseas, for betting and online transactions, cash withdrawals and for payment.

    Order for periodic transfers

    The order for executing periodic transfers is a pre-signed standard form for a payment order that is executed at a frequency and date set by the ONLINE User.

    Originator

    A private individual or a legal entity holding a current account and ordering the execution of a payment order on this account and, in the absence of a current account, a private individual or a legal entity issuing a payment order.

    Overdraft

    The bank and the client agree in advance that the client is entitled to a loan if there are no funds available in their payment account. The contract specifies a maximum amount that can be borrowed and whether fees and interest are charged to the client.

    P

    Payee

    A private individual or a legal entity designated as the ultimate recipient of funds that are subject to a payment transaction.

    Payment by a credit card

    The client pays goods and services on the spot or via the Internet by a credit card.

    Payment by a debit card

    The client pays goods and services on the spot or via the Internet by a debit card.

    Payment operation

    An action taken by the originator or the payee for depositing, transferring or withdrawing cash, regardless of the principal relationship between the originator and the payee.

    Payment order

    Any order from the originator or the payee to the bank ordering the execution of the payment transaction.

    Payment service provider servicing the account

    A payment service provider offering and maintaining a current account.

    Payment services user

    A private individual or a legal entity who uses a payment service as an originator or a payee, or both.

    Personal Identification Number (PIN)

    A secret code connected with a particular bank card that is entered by the client and is checked each time when withdrawing money from an ATM and in some cases when paying at a POS terminal. The PIN is a four-digit code and it serves to identify the cardholder when using the card. The code is only known to the cardholder and should not be communicated to anyone. The bank has no information on the card PIN. For a forgotten PIN, the client must contact the card issuing office and request a new PIN or a new card and PIN.

    POS Terminal

    Point of Sale (POS) electronic terminal for accepting bank cards for the purpose of initiating and authorizing (approving) direct non-cash payment of goods and services at a merchant, cash withdrawal, etc.

    Providing a credit card

    The payment service provider provides a payment card connected to the client's payment account. The total amount of transactions made with the card for a contractual period is accounted for by the client's current account in full or partially on an agreed date. A credit agreement between the provider and the client determines whether the client is charged interest on the loan granted.

    Providing a debit card

    The payment service provider provides a payment card connected to the client's current account. The amount of each card transaction is accounted for directly and in full by the client's payment account.

    Purchase with Cash Back

    The service allows to withdraw a small amount in cash (up to BGN 50) when paying by credit or debit card at some retail outlets.

    R

    Raiffeisen ONLINE

    Raiffeisen ONLINE is a platform of RBBG for online banking, which offers the opportunity to the clients of the bank to use information and services offered through electronic access channels - Internet and a specialized application for mobile devices.

    Reference interest rate

    The interest rate used as the basis for calculating the applicable interest rate and deriving from a publicly available source that can be verified by both parties under a payment service contract.

    S

    Secure payments on the Internet (3-D Secure)

    Functionality for extra protection when making payments on the Internet with bank cards, which requires the card holder to enter the so-called 3-D Secure code (one-time code for validation of payments on the Internet) to complete the transaction. For each payment on merchant websites participating in the programs Mastercard SecureCode for Mastercard cards and Verified by Visa for Visa cards, the cardholder receives an SMS with the payment verification code.

    Servicing of a credit card in national currency

    The bank serves a credit card connected with a client's current account in a national currency. The total amount of transactions made with the card for a negotiated period is accounted for by the client's current account in full or partially on an agreed date. A credit card agreement between the bank and the client determines whether the client is charged interest on the loan provided.

    Servicing of a debit card in national currency

    The bank serves a debit card connected with a client's current account in national currency. The amount of each card transaction is accounted for directly and in full by the client's current account.

    SMS/E-mail notification

    Notification service by sending short text messages or e-mail messages. SMS/E-mail notification provides the ability to receive the following types of notifications:

    • for each ATM/POS operation performed
    • for deposited/transferred funds on the card
    • for an amount due on credit card, a minimum repayment instalment
      and a payment term
    • other notifications related to the use of the card and the credit limit

    U

    User

    A private individual, a payment service user, who, in the case of contracts for the provision of payment services, carries out an activity other than their commercial or professional activity.

    V

    Value date

    This is a reference date used by the bank to calculate the interest on the funds with which the current account is debited or credited. When no interest rate has been agreed upon, the value date is the date on which the bank is required to debit or credit the current account.

    W

    Withdrawing cash on the territory of the country

    The client is able to withdraw cash from their current account on the territory of the country at a cashier desk, POS or ATM terminal.

    Withdrawing cash with a card on АТМ/POS terminal device abroad

    The cardholder is able to withdraw cash from their bank card via at ATM/POS terminal abroad.

    Working hours

    A time interval within the working day after which each payment order is deemed to be received on the next business day.

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