We kindly inform that following the Monetary Policy Council decision from March 17th 2020 on decreasing the interest rates, we have decreased the interest rates on Citibank credit cards.
Since March 18th 2020, the interest rates on Citibank credit cards are: 6% for agreements signed until November 30th 2018 and 9% for agreements signed from December 1st 2018.
We inform that since December 15th, 2019, the Bank does not charge a commission for transactions converted dynamically from an original currency to a card account currency by a service provider at the moment of transaction (DCC – dynamic currency conversion).
The change results from the implementation of Regulation (EU) 2019/518 of the European Parliament and of the Council of 19 March 2019 amending Regulation (EC) No 924/2009 as regards certain charges on cross-border payments in the Union and currency conversion charges.
This is to kindly inform you that the Credit Cards Citibank Terms and Conditions and the Table of Fees and Charges will change effective September 14, 2019. The updated documents are available on the bank’s website in the Documents section.
This is to kindly inform you that changed “Bank Account Table of Fees and Charges” came into force on February 14, 2020. The updated documents are available on the bank’s website in the Documents section.
This is to kindly inform you that “Credit Line offer” change came into force on March 18th, 2020. The updated documents are available on the bank’s website in the Documents section.
This is to kindly inform you that the process of the financial settlement with the Social Insurance Institution shall change, effective January 2018.
We kindly inform that following the Monetary Policy Council decision from March 17th 2020 on decreasing the interest rates the Interest Rate Table will be amended, effective as of 24 March 2020.
Please be informed that the Terms and Conditions of Granting Loan Products to Corporate Clients and Table of Fees and Commissions Loan Products for Corporate Clients will be amended, effective as of 8 July 2019. The up-to-date documents are available on the Bank’s website in the Documents section and here in below:
Please be informed that the Tables of Fees and Commissions will be amended as of 14 December 2019:
1 July 2018 is the effective date of the provisions of the Act of 15 December 2017 Amending the Act on Tax on Goods and Services and Certain Other Acts (the “Act”), which introduce regulations concerning the MPP/Split Payment mechanism (“MPP/ Split Payment”).
We will make every effort to support the implementation of MPP/Split Payment at your company, and this is why, in keeping with Article 7 of the Act, we have already opened a VAT Account for you and have made its number available to you in Citibank Online. The VAT account is exclusively intended for the execution of incoming- and outgoing transfers related to VAT (pursuant to the Act) with the use of the MPP/Split Payment mechanism. Until 30 June 2018, the VAT Account will remain inactive and it will not be possible to debit or credit it until that date.
We wish to present you the most important information related to the VAT Account and to MPP/Split Payment Split Payment – basic information.
As of 1 July 2018, in the case of transfers using the transaction import functionality, a new transfer file structure should be used in accordance with the logic indicated in Description of the “Transaction import” functionality – the structure and description of the import file.
Please be reminded that the Act of 24 November 2017 Amending Certain Acts to Counteract the Use of the Financial Sector for Fiscal Fraud, or the so-called STIR Act (Journal of Laws, item 2491), came into force as of 13 January 2018.
The most important purpose of that Act is to limit fiscal fraud, improve the conditions for conducting business activity for all tax payers by restoring fair competition on the market and to reinforce legal certainty by disclosing information on registered- and deleted VAT tax payers.
The STIR Act provides for a gradual transfer of information and for the launch of an analysis system to prevent fiscal fraud. Under the provisions of that Act, banks and credit unions (SKOK) are required to report to the Head of the National Tax Authorities (KAS) on accounts of eligible entities, within the meaning of the STIR Act, and on all transactions made by those entities via the bank accounts or credit union accounts covered by that system. On the basis of that information, the IT system of the Head of the National Tax Authorities will analyse the risk of a fiscal fraud.
Pursuant to the STIR Act, as of 30 April 2018, the Head of the National Tax Authorities has had the ability to issue a decision on the freeze of the account of the eligible entity for no more than 72 hours, when the information in his possession, and especially the results of the risk analysis, imply that the eligible person may misuse banks or credit unions for fiscal fraud or for activities aimed at fiscal fraud, and the freeze of the eligible entity’s account is necessary to prevent it. The Head of the National Tax Authorities may extend, by way of a decision, the freeze on the eligible entity’s account for a specific period of time, which shall not be longer than 3 months.
The freeze must not be imposed on bank accounts of private individuals used for their private settlements.
On 13 October 2019, the obligation to register in the Central Register of Beneficial Owners (CRBO) entered into force. The CRBO is a database where information on natural persons who directly or indirectly control a company/partnership (the so-called beneficial owners) is collected and processed.
Legal basis: Act of 1 March 2018 on counteracting money laundering and terrorism financing.
For the sake of convenience of the Bank’s Clients, below we have summarised key information about the new obligation.
The following entities will be required to apply for an entry in the register:
A person authorised to represent a company/partnership will be required to apply for an entry in the Register, providing identification data of the beneficial owner, such as:
The application will be filed electronically and the applicant will have to sign it with an electronic signature or certify with their ePUAP trusted profile.
The regulations entered into force on 13.10.2019.
Once a company/partnership has applied for an entry in the CRBO, it should update its details in the CRBO within 7 days from the occurrence of a change.
Correct indication of the beneficial owner may be difficult in the case of an extensive ownership structure. Enclosed please find a short guide on how to determine Beneficial Owner.