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Contact           24/7
contact@kb.com.mk

contact center:
(02) 3 296 800

Transaction current account



What kind of account is the transaction current account?


The transaction current account is a unique and unrepeatable numerical datum used for identification of participants in the payment operations. All the denar transactions exercised through a bank are recorded in the transaction current account. All individuals exercising denar transactions through a bank must have a transaction current account.

 

Opening and operating with transaction current account


Transaction current account may be opened to any individual who is citizen of the Republic of Macedonia, as well as to foreigners – who, according to the law regulations are considered as residents and have identity card as foreigners, issued by the Ministry of Internal Affairs of RM.

The Bank may also open accounts to juveniles and disabled persons who are represented in the Bank by a legal proxy, or custodian, in accordance with the law regulations. .


 Application / Request for client registration (individual)
 Application for opening of transaction current account
 General conditions for opening and operating with transaction current account


The Bank opensaccounts to the blind. Opening an account to a blind person is conducted inpresence of two witnesses. One of the witnesses must be an employee of theBank, or both witnesses may be employed in the Bank. The witnesses read thecontents of the Agreement in full as well as the General Conditions foroperation of the transaction current account. The client confirms the consentthat he/she understands and accepts the provisions stipulated by thesedocuments by signing the Statement for applying for a debit or credit card forindividuals by a facsimile. The witnesses sign the same statement with fullname, surname and signature stating that the client is familiar with thecontents of the documents and that he/she accepts and signs them. The client isissued a signature specimen card for the transaction account for which thesignature is sent by facsimile, which will be used by the client in future whenexercising transactions on the account.


Statement for opening a transaction current accountfor a blind person


The holder of the transaction current account may give authorization to another person to work with the funds on his/her account. The person that is to be authorized must be present at the moment of giving the authorization. Authorization is given in the Bank’s branches and city-branches .


The funds on the transaction account are available through the following instrumentsi:

  • signatory card – for making cash payments and withdrawals, as well as non-cash transfers to other accounts with the Bank and to accounts with other banks;
  • debit card – for making payments for goods and services, as well as cash withdrawal from the large network of points of sale and ATMs in the country and abroad;
  • cheque card and cheques – for non-cash payments made by companies and individuals.

The account holders may get information on the statement of account and movement thereon at the Bank’s counters and through the Internet Bank service. The Internet Bank service also allows execution of all non-cash payments from the transaction current account. The clients holding a debit card can get information about movements on the account resulting from transactions with the card by use of the service SMS banking.


Overdraft facilities


The Bank approves two types of overdraft facility – overdraft facility with determinable amount and overdraft facility on a fixed amount.


Overdraft facility with determinable amount


The Bank may approve overdraft facility with determinable amount to the extent not exceeding two average salaries, with validity of 12 months.

All pensioners receiving their pensions through a transaction account may be approved collective overdraft facility up to the amount of one pension, with validity of 12 months.

If there is no salary or pension received on the account within two months, or, if the client does not settle liabilities towards the Bank on regular basis, the Bank shall revoke the overdraft facility or shall set it to the extent of the used amount, until expiry thereof.

On the day upon expiry of the overdraft facility, the Bank shall make reassessment of the approved overdraft facility and if the conditions defined in the Agreement are met, the allowed overdraft facility shall be automatically renewed with validity of 12 months.


Overdraft facility with fixed amount


The Bank may approve overdraft facility with fixed amount on transaction current accounts receiving inflows under salary or other regular monthly inflows acceptable for the Bank, with validity of 12 months. The approved amount may not be higher than two salaries (when there is inflow on the account under salary), or, two average inflows on other basis (the average is calculated for the inflows on the account in the last 6 months).

If there is no any inflow received on the account within two months, the Bank shall revoke the overdraft facility or shall set it to the extent of the used amount, until expiry thereof.

On the day upon expiry of the overdraft facility, the Bank shall make reassessment of the approved overdraft facility and if the conditions defined in the Agreement are met, the allowed overdraft facility shall be automatically renewed with validity of 12 months. Otherwise the allowed overdraft facility shall be revoked. Any amendment to the extent of the overdraft facility shall be subject to a concluded Annex to the Agreement for use of approved overdraft facility.


  Request for approval of overdraft facility
 Application for registration of a customer – natural person

  Request for conclusion of a business cooperation agreement
 Application for registration of a customer – legal entity


Interest rates


The Bank applies the following interest rates for operation with the transaction current account:*



INTEREST RATES FOR TRANSACTION CURRENT ACCOUNT


Reference interest rate for calculation of the default interest rate3.75%
Deposit interest rate0.01%
Interest rate to the amount of the overdraft facility7.95 percentage points above the benchmark interest rate i.e. 11.70%
Interest rate on the amount over the overdraft facility11.75%


*The interest rates are in accordance with the currently applicable Decision on interest rates of the Bank. The effective interest rates of the transaction current account are equal to the nominal interest rates.

** The interest rate used for calculation of the interest on the utilized part of the overdraft facility is 11.70% and is defined when 7.95 percentage points are added to the reference interest rate which currently is 3.75% and is used for calculation of the default interest rate.

*** Pursuant to the Law on Obligations, the reference interest rate for calculation of the default interest rate is determined for each calendar six-month period and is applied for the current six months (up to the end of the six-month period). At the beginning of the six-month period, NBRM publishes on its web site the reference interest rate for calculation of the default interest rate. 

Standing order


Holder of transaction current account may issue a standing order authorizing the Bank in his/her behalf to effect payments of utilities (bills for electricity, heating, home and mobile phones, Internet and cable television), to make transfer to another transaction account, denar passbook with the Bank as well as repayment of loans approved by the bank, from his/her account free of charge.


 

The account holder may issue a standing order for transfer of founds from his/her transaction account to any other account with the Bank or in other banks, under fees in accordance with the tariff for making payments at the Bank’s counters.

 

A blind person may open a standing order in presenceof two witnesses. One of the witnesses must be an employee of the Bank, or bothwitnesses may be employed in the Bank. The witnesses read the contents of thestanding order form that is to be signed by the client. The client confirms theconsent that he/she understands and accepts the provisions stipulated by thesedocuments by signing the Statement for applying for a debit or credit card forindividuals by a facsimile. The witnesses sign the same statement with fullname, surname and signature stating that the client is familiar with thecontents of the documents and that he/she accepts them.


The service of opening a standing orderfor a blind person is available only in the Bank’s Head Office in Skopje and inthe Bank’s branches throughout the country.

 
You can pay tha radio broadcasting tax by using standing order with minimum reimbursement of 2 denars per warrant as well as the water supply bills under MKD 10 fees per transfer.
 

All you need to do is to come in the Bank’s branches and city-branches with the last paid bill and identification document and sign the standing order.



Contact person



Marija Srbinovska, Head of Transaction Accounts Unit
Phone: (+389 2) 3168-136
Fax: (+389 2) 3220-987
e-mail: marija.srbinovska@kb.com.mk