Questions and answers for Consumer banking customers

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1 Questions and answers for Consumer banking customers This document is aiming to provide answers to the most frequently asked questions regarding the transaction and the transition period (until the customer accounts will be transferred to Erste). The Q&A will be updated continuously, as Citibank and Erste are working on aligning the two institutions operations to ensure Customers receive smooth and seamless transition. Until the transfer of customer accounts, both organizations will operate according to their own business practices. During this transitional period, products and services are not interoperable between the two institutions; they are available at their respective institutions only. All customers will be informed way ahead in time about any developments or any actions needed in relation to the transaction. Contents General questions 1. What is Citi selling and to whom? Why is Citi selling this business, and why now? Does it mean Citi is leaving Hungary? Why it is beneficial for Erste to buy the Consumer business of Citi in Hungary? Will customers benefit from this transaction? When do you expect the transaction to be completed? Why Erste and not another bank? Was there any other opportunity for Citi to sell its Consumer business to? How will I know if the transfer occurs and when? What do I need to do now? How will I be informed about the transaction and the regulatory approvals? What changes for me? Will there be any changes with regard to the products, services and conditions? Will I be able to use existing Citibank branches? Will there be any changes regarding the ATMs, Relationship Managers, branches, and other customer touch points? Will I be able to use branches of Erste? Will there be any changes to my customer agreements/terms and conditions entered into with Citibank during the transition period? When will I be informed about Erste s products and the conditions? If I have an existing relationship with Erste can I now communicate with Erste s Relationship Manager also about my Citi products, accounts etc.?

2 18. Do I need to pay anything for the implementation of this transfer? What law governs this transfer? What authority approved the transaction and will supervise the matters related to the Hungarian Consumer Business related to the transfer to Erste? Will I be able to apply for Erste products at Citibank customer touch points (branches, CitiPhone, onlineand mobile banking channel)? What will happen after the transition period? Questions related to data handling 1. What is the legal basis of the data transfer? What kind of data is impacted? What happens with the transferred customer data? How is my personal data secured? When will the data transfer happen? Where can I turn to with my questions or requests regarding the handling of my personal data? Questions related to deposits, current accounts, savings accounts, and investment products 1. Where can I continue to make my regular Citibank account payments? Will the protection of my funds under the deposit guarantee scheme change? If I have a deposit/savings account with both Citibank and Erste, how will my funds be protected under the deposit guarantee scheme after the transfer? I have opened a jointly owned account with Citibank. How will the transfer impact on my deposit guarantee coverage? What I have to do if I don t want to bank with Erste? I have regular payments (standing orders/direct debits) into or out of my Citibank current account. Do I need to do anything to make sure the money is paid as normal? As a Citigold client, will I still receive the same banking services? What about my contract privileges? Can I further use my existing Citibank bank card? Will I get a new bank card and when? My bank card will expire soon, will I get a new bank card, if yes, from whom? Will cash-withdrawal from Erste Bank ATM with my current Citibank bank card be cheaper for me from now on? Erste Bank ATMs will be considered as own ATMs for Citibank customers? What will happen with my investment portfolio and other wealth services? I am a Citigold customer. Will I still have all my existing communication channels with Citibank? Will I be able to renew my dual currency deposits?

3 15. I have availed Mutual Fund product(s) that Erste does not offer. What happens to my mutual funds after the Transfer Date? How can I ensure its continuity? Will I be able to invest/redeem my investment in Mutual Funds / Structured Notes? What guarantees do I have for my investments and how will it change? What is Erste Befektetési Zrt? What will happen with the Citi IPB accounts? As a Citi IPB client, how will I be able to access my funds held with Citi IPB UK? Questions related to credit cards 1. Will my Citibank credit card remain the same or will it change? Can I continue to use my Citibank credit card without change (payments at merchants, cash withdrawals, direct debit payments, utility payments, Citi Forint collection and redemption, etc.)? Where can I continue to make my regular credit card repayments? Will my credit limit remain same or will it be revised? Do I need to pay back the entire sum owed to Citibank (including instalment products)? I have a Citibank co-branded credit card (Shell-Citibank Credit Card, Telekom-Citibank Credit Card). What will happen to that? Who should I call if I have problems with my Citibank credit card? What will happen to my reward points/citi Forints on my Citi Life, Shell-Citibank, or Telekom-Citibank credit card? Will my fees and interest rates remain the same? What will happen with the insurances enrolled with my credit card? What will happen with CitiAlert & e-statement facility? What billing cycle will be followed, will it be existing as per the Citibank credit card or will it be revised? What will happen with supplementary cards and stickers? Is there any change regarding my monthly payments? Will any details for my monthly credit card payment by direct debit need to be changed? Can I further use my existing Citibank credit card? Will I get a new credit card and when? My bank card will expire soon, will I get a new bank card, if yes, from whom? Will the conditions of my instalment product(s) linked to my credit card remain the same (Loan on Phone, Advanced Loan on Phone, Equal Payment Plan) and Instant Money Service? Questions related to personal loans 1. Where can I continue to make my regular Citibank loan repayments? Should I keep paying Citibank or should I now start paying to Erste?

4 3. What will be my point of contact for my Citibank consumer personal loan contracts? What will happen with the insurances enrolled with my Citibank loan? Can I contact Citibank if I need additional loan amount or would like to apply for a new loan? Will my monthly instalment, interest rate or other conditions remain the same?

5 General questions 1. What is Citi selling and to whom? On September 2, 2015, Citibank Europe plc has entered into an agreement with Erste Bank Hungary Zrt. (Erste Bank) and its subsidiary Erste Befektetési Zrt. (Erste Investment Limited) (Erste Bank and Erste Befektetési Zrt. together: Erste) to sell its consumer banking business in Hungary. The sale includes Citibank s retail banking and investment business, consumer loans, cards business, and the microenterprise accounts (CitiBusiness) and the transfer of consumer banking employees. The transaction has been approved by the National Bank of Hungary and the Hungarian Competition Authority. The regulatory approval process has come to an end with this. The transfer of customer accounts is not expected to occur before the fourth quarter of The sale does not include the Corporate and Investment Banking, Global Subsidiaries Group, Commercial Banking, Markets and Transactional Banking businesses, fully leveraging our unparalleled global network. 2. Why is Citi selling this business, and why now? Citi announced in October 2014 strategic actions around the world to accelerate the transformation of the Global Consumer Bank by refining its footprint and streamlining operations to 24 markets where it has the greatest scale and growth potential. As part of these actions, Citi announced its intent to exit its consumer banking in 11 markets, including Citi s consumer businesses in Hungary. 3. Does it mean Citi is leaving Hungary? No, Citi will remain in Hungary and continue its commitment to the country and intends to focus on expanding and growing the services it offers to Hungarian corporations, financial institutions, multinational clients with operations in Hungary and public sector clients. Citi also remains committed to expand its Citi Service Center located in Budapest, currently servicing Citi franchises operating in more than 50 countries worldwide. This decision is in line with Citi s global strategy of focusing its resources on those sectors where it has a competitive advantage, including its institutional and commercial banking businesses in Hungary. 4. Why it is beneficial for Erste to buy the Consumer business of Citi in Hungary? Erste is fully committed to Hungary, ready to play an active role in the consolidation of the banking sector and eager to remain a crucial pillar of the Hungarian banking sector and economy. The transaction will result in Erste having the second largest retail customer portfolio in Hungary. In addition to size, Erste will have a unique position in the Hungarian financial market given the combination of the best and most valuable assets of the two companies Erste s universal banking services and Citibank s market leading high service standards. 5

6 5. Will customers benefit from this transaction? Until the transfer of the customer accounts, which is not expected to occur before the fourth quarter of 2016, Citibank customers continue to benefit from Citibank s wealth management, investment and loan products set, valuable credit cards, reward programs and remarkable customer experience. All Citibank products, services as well as our Citi Forint reward program are available in an unchanged form, with the same terms and conditions. After the transfer of customer accounts, Erste welcomes Citibank s customers to the 196 years old Erste Group by satisfying all their financial needs via their universal banking services. Erste Group started as a savings bank, so they have a wide expertise in wealth management, savings and investments. Modern everyday banking services and their wide branch network will also offer new possibilities and benefits to their future clients. In the transition period, which is not expected to end before the fourth quarter of 2016, both Citibank and Erste will focus on aligning the two institutions operations to ensure customers receive smooth and seamless transition and only benefit from the transaction. 6. When do you expect the transaction to be completed? The transaction has been approved by the National Bank of Hungary and the Hungarian Competition Authority. The regulatory approval process has come to an end with this. The transfer of customer accounts is not expected to occur before the fourth quarter of Until then all products and services continue to be provided by Citibank, with unchanged contractual terms. 7. Why Erste and not another bank? A full and thorough strategic review process took place and the proposal of Erste was the best for our customers, employees and shareholders. Erste is a leading regional financial institution with a strong product proposition, broad distribution network and excellent services. We believe Erste is well placed to continue to provide the service and high standards to which Citibank s customers have become accustomed. In the transition period, which is not expected to end before the fourth quarter of 2016, both Citibank and Erste will focus on aligning the two institutions operations to ensure customers experience smooth and seamless transition and only benefit from the transaction. 8. Was there any other opportunity for Citi to sell its Consumer business to? A number of key players on the Hungarian banking market had taken the opportunity to bid. A full and thorough strategic review process took place, and finally the proposal of Erste was the best for our customers, employees and shareholders. Erste is a leading regional financial institution with a strong product proposition, broad distribution network and excellent services. We believe Erste is well placed to continue to provide the service and high standards to which Citibank s customers have become accustomed. Other details of the transaction are not public. 6

7 9. How will I know if the transfer occurs and when? The transaction has been approved by the National Bank of Hungary and the Hungarian Competition Authority. The regulatory approval process has come to an end with this. The transfer of customer accounts is not expected to end before the fourth quarter of Until then all products and services continue to be provided by Citibank. Citibank will send you a letter prior to the transfer, informing you about your relationship with Citibank being transferred to Erste. Citibank will also confirm the transfer with an announcement posted on the Hungary consumer website at 10. What do I need to do now? You do not need to take any action now. Please continue to use and benefit from all of your Citibank products and services that you have now, with unchanged contractual terms. The transfer of customer accounts is not expected to occur before the fourth quarter of 2016.Operations and customer service will be taken over by Erste Bank effectively from this date only. Until that time: All current Citibank products, services and reward programs will continue to be available for our customers in an unchanged form, with the same terms and conditions. We will keep delivering our highest standards of remarkable customer experience. Business will continue as usual, including acquisition of new customers: o Open a new Citigold account in our branch network or indicate your intent through CitiPhone. o Apply for Citi credit cards in our branch network. o Opening Citi Priority accounts and applying for personal loan is possible through our internet page, our branch network, and CitiPhone as well. Branches, CitiPhone, Citibank Online and Citi Mobile will keep operating as usual. In case of any questions or requests please contact your Citibank Relationship Manager or any of our customer service representatives. You do not need to take any action now. All customers will be informed way ahead of time about any important developments or any action is needed. 11. How will I be informed about the transaction and the regulatory approvals? All customers are being informed about the transaction via mailing and those who provided their address to Citibank will also get notification via . Later on, in case of any developments related to the transaction (e.g. regulatory approval, migration details) all customers will be informed way ahead of time in the same way. If you have not yet provided your address to Citibank, we suggest you to do so now. E- mail communication is a faster and more convenient way to be informed. Information related to the transaction is available on website as well. 7

8 12. What changes for me? Will there be any changes with regard to the products, services and conditions? Due to the transaction nothing changes in the transition period until your Citibank accounts are transferred to Erste Bank, which is not expected to occur before the fourth quarter of Operations and customer service will be taken over by Erste Bank effectively from this date only. You do not need to take any action now. Please continue to use and benefit from all of your Citibank products and services that you have now: All current Citibank products, services and reward programs will continue to be available for our customers in an unchanged form, with the same terms and conditions. We will keep delivering our highest standards of remarkable customer experience. Business will continue as usual, including acquisition of new customers: o Open a new Citigold account in our branch network or indicate your intent through CitiPhone. o Apply for Citi credit cards in our branch network. o Opening Citi Priority accounts and applying for personal loan is possible through our internet page, our branch network, and CitiPhone as well. Branches, CitiPhone, Citibank Online and Citi Mobile will keep operating as usual. In case of any questions or requests please contact your Citibank Relationship Manager or any of our customer service representatives. You do not need to take any action now. All customers will be informed way ahead of time about any important developments or any action is needed. 13. Will I be able to use existing Citibank branches? Will there be any changes regarding the ATMs, Relationship Managers, branches, and other customer touch points? You will need to continue to use Citibank branches in relation to your Citibank products and services. All Citibank customer touch points continue to be completely available for you. Branches, CitiPhone, Citibank Online and Citi Mobile will keep operating as usual. In case of any questions or requests please contact your Citibank Relationship Manager or any of our customer service representatives. The transfer of customer accounts is not expected to occur before the fourth quarter of Operations and customer service will be taken over by Erste Bank effectively from this date only. 14. Will I be able to use branches of Erste? You will need to continue to use Citibank branches in relation to your Citibank products and services and will only be able to use Erste Bank s branches after the transfer of your Citibank customer accounts to Erste, which is not expected to occur before the fourth quarter of

9 In case you already have any products with Erste you may continue using the branches of Erste for these respective products or services. 15. Will there be any changes to my customer agreements/terms and conditions entered into with Citibank during the transition period? No, due to the transaction in the transition period there will be no changes in respect to your customer agreements entered into with Citibank, other than those required by legal and regulatory changes. You do not need to take any action now. Please continue to use and benefit from all of your Citibank products and services that you have now: All current Citibank products, services and reward programs will continue to be available for our customers in an unchanged form, with the same terms and conditions. We will keep delivering our highest standards of remarkable customer experience. Business will continue as usual, including acquisition of new customers: o Open a new Citigold account in our branch network or indicate your intent through CitiPhone. o Apply for Citi credit cards in our branch network. o Opening Citi Priority accounts and applying for personal loan is possible through our internet page, our branch network, and CitiPhone as well. Branches, CitiPhone, Citibank Online and Citi Mobile will keep operating as usual. In case of any questions or requests please contact your Citibank Relationship Manager or any of our customer service representatives. You do not need to take any action now. All customers will be informed way ahead of time about any important developments or any action is needed. 16. When will I be informed about Erste s products and the conditions? The same terms and conditions in relation to your Citibank products and services (including our Citi Forint reward program) apply in the transition period. The transfer of customer accounts is not expected to occur before the fourth quarter of Before transferring the customer accounts, all customers will be informed way ahead of time about the new terms and conditions in line with the regulatory requirements. 17. If I have an existing relationship with Erste can I now communicate with Erste s Relationship Manager also about my Citi products, accounts etc.? No. You will need to continue to communicate with Citibank in relation to your Citibank products and services until your Citibank accounts will be transferred to Erste, which is not expected to occur before the fourth quarter of Do I need to pay anything for the implementation of this transfer? No, Citibank and Erste will be responsible for all costs of implementing the transfer. 9

10 19. What law governs this transfer? The transfer is governed by Hungarian law, which also governs your agreements with Citibank. 20. What authority approved the transaction and will supervise the matters related to the Hungarian Consumer Business related to the transfer to Erste? Since Citibank transfers its Hungarian consumer business to Erste, a bank incorporated in Hungary, the transaction was subject to the approval of the National Bank of Hungary and the Hungarian Competition Office. Although Citi is partly subject to the Hungarian regulation and to the supervision of the National Bank of Hungary, the principal regulator for Citi is the Central Bank of Ireland, the approval of which, however, is not required for the transaction. After the completion of the transfer, the National Bank of Hungary will become the principal authority supervising all regulatory matters related to the Hungarian consumer business. 21. Will I be able to apply for Erste products at Citibank customer touch points (branches, CitiPhone, online- and mobile banking channel)? No. Customers can apply for any Erste product at Erste touch points only. 22. What will happen after the transition period? Erste is well placed to continue to provide the service and high standards to which Citibank s customers have become accustomed. In the transition period both Citibank and Erste will jointly work on creating the best value proposition to our customers to serve all their possible financial needs and ensure customers experience a smooth and seamless transition. All customers will be informed way ahead in time about any changes or any actions needed in relation to the transaction. 10

11 Questions related to data handling The regulatory approval process related to the sale of Citibank s Hungarian consumer business to Erste Bank Hungary Zrt. and its subsidiary Erste Befektetési Zrt. (Erste Investment Limited) (hereinafter together referred to as Erste ) has been successfully closed. Applicable laws enable us to transfer personal data to Erste, strictly in order to support the smooth and seamless transfer of customer accounts. This is necessary for Erste to prepare accordingly for the takeover-, and then the actual transfer of customer accounts. Erste will operate and handle personal data in line with the applicable data protection regulations and strictly for the above mentioned purpose. Please find more useful information related to the transfer of customer data, and customer data protection rights below. 1. What is the legal basis of the data transfer? Transfer of customer accounts happens based on Act CCXXXVII of 2013 on Credit Institutions and Financial Enterprises and Act CXXXVIII of 2007 on Investment Firms and Commodity Dealers, and on the Regulations Governing their Activities. 2. What kind of data is impacted? The transfer impacts customer data related to the banking and/or investment products, such as personal data handled by Citibank (customer s name, place and date of birth, mother s name, type and number of identification document, citizenship, etc.), data related to your banking contracts, or data about you handled by law, and data that was given voluntarily related to your customer account. 3. What happens with the transferred customer data? All data impacted by the migration is handled in accordance with the relevant regulations by both Citi and Erste. Personal data will be transferred strictly in order to support the preparations- and then the actual transfer of customer accounts. Preparing to create your customer relationship between you and Erste in order for you to have your debit- and credit cards at hand in time, and prepare the banking systems as well for providing continuous remarkable customer service is a viable part of the account migration process. Please be assured, that customer data will not be used for any other (e.g. marketing) purposes. Both Citibank and Erste will operate and handle personal data in line with the relevant data protection regulations. After the handover your data and information in Citi s records, including the data that occurred at Citi, and the data and information regarding your transactions, will be handled and stored by Citi for a period of time defined in the relevant regulations. 4. How is my personal data secured? Citi does everything it takes in order to protect your personal data. We apply close control and regular improvements over our banking systems and process. We developed our current security measures with more than 200 years of experience behind us, and to meet the latest state of the art security requirements and strictest international standards. Appropriate protection of personal data, and other information classified as bank secrets during the data transfer is provided by the data protection regulations of Citibank and Erste. Handling of 11

12 personal data is allowed only for the sake of the customer migration. Utilization of customer data for any other, e.g. marketing- or acquisition purposes, is not allowed. 5. When will the data transfer happen? Handover of customer data was dependent of receiving the regulatory approvals for the deal. We received the necessary approvals from both relevant authorities in December, Only after this the transfer of customer data for Erste has become possible, and it happens throughout the full length of the preparations for the migration. The migration process is not expected to be completed before the fourth quarter of Where can I turn to with my questions or requests regarding the handling of my personal data? Customers can ask their questions, make their remarks, and enforce their rights in connection with the handling of their customer data (e.g. information on handling of personal data, the rectification, erasure or blocking of personal data) through either of the data handlers, i.e. both Citi and Erste, official contacts. If you have any doubts about the legality of the data handling you can turn to the Hungarian National Authority for Data Protection and Freedom of Information or go to court. 12

13 Questions related to deposits, current accounts, savings accounts, and investment products 1. Where can I continue to make my regular Citibank account payments? The IBAN of accounts will remain the same during the transition period and you will be able to use existing Citibank channels for the regular payments. Any change to occur with respect to the IBAN of accounts will be notified by Erste in due course in accordance with the applicable regulations. 2. Will the protection of my funds under the deposit guarantee scheme change? Deposits made by customers with Citibank enjoy the protection under the Irish Deposit Guarantee Scheme. If until the transfer Citibank becomes unable to repay its obligations, you will be able to recover your money from saving and/or deposit accounts up to a cap of EUR 100,000. After the transition period, as Citibank customer accounts are transferred to Erste, Citibank's customers will no longer be covered under the protection of the Irish Deposit Guarantee Scheme and will become protected under the Hungarian Deposit Insurance Fund (OBA). Deposits made by customers with Erste enjoy the protection under the Hungarian Deposit Insurance Fund (OBA). If after the transfer Erste becomes unable to repay its obligations, you will be able to recover your money from saving and/or deposit accounts up to a cap of EUR 100, If I have a deposit/savings account with both Citibank and Erste, how will my funds be protected under the deposit guarantee scheme after the transfer? If you have deposit accounts with both Citibank and Erste, the transfer will have an additional effect. Until the end of the transition period, if both Citibank and Erste will become unable to repay their obligations towards depositors, you would be entitled to request the protection of the Hungarian Deposit Insurance Fund (OBA) (for your deposits with Erste) and the protection of the Irish Deposit Guarantee Scheme (for your deposits with Citibank). In such event, you would be able to recover from in aggregate up to a maximum of EUR 200,000, i.e. up to EUR 100,000 from the Hungarian Deposit Insurance Fund (OBA) and up to EUR 100,000 from the Irish Deposit Guarantee Scheme. After the transition period, as your deposits with Citibank are transferred to Erste, you would be entitled to request only the protection of the Hungarian Deposit Insurance Fund (BEVA) up to a maximum amount of EUR 100,000 and you will no longer be able to request the protection of the Irish Deposit Guarantee Scheme. 4. I have opened a jointly owned account with Citibank. How will the transfer impact on my deposit guarantee coverage? Deposits handled by Citibank enjoy the protection under the Irish Deposit Guarantee Scheme up to the migration date only (which is not expected to end before the fourth quarter of 2016). Under this regulation the coverage is EUR 100,000 separately for each joint deposit owner. 13

14 Thus, should two joint owners have a single deposit both will be eligible for the compensation, up to separately EUR 100,000. After the transition period, when your Citibank deposits are transferred to Erste, Citibank customers will no longer be covered under the protection of the Irish Deposit Guarantee Scheme and will become protected under the Hungarian Deposit Insurance Fund (OBA). In case of jointly owned deposits the Hungarian regulation is very similar to the Irish: OBA provide separate coverage for each joint owners, up to EUR 100,000 per co-owner. 5. What I have to do if I don t want to bank with Erste? You do not need to take any action as part of the transaction, all your Citibank customer account(s) will automatically be transferred to Erste. If you wish to terminate a customer agreement, however, you can do so any time during the transition period, in accordance with the terms and conditions of the relevant product or service. In this case you will need to repay all your due balance, if any, of any banking products or services you own, and you will have to give instructions about where to transfer your balance on your current-, savings- or deposit accounts. For more details about the termination conditions, please refer to your customer agreements, actual pricing terms as well as to the General Terms and Conditions. Furthermore, you will be informed about the exact date of the transfer and the contractual terms applicable at Erste Bank thereafter at least 60 days prior to the transfer of the customer accounts. You will be entitled to terminate your customer agreement with Citibank free of charge until the date of transfer. 6. I have regular payments (standing orders/direct debits) into or out of my Citibank current account. Do I need to do anything to make sure the money is paid as normal? Your payments will continue as usual. The recipient of these payments (or payer in case of withdrawals) as identified on your bank statements will remain the same as at present until the end of the transition period. During the transition period, Citi will continue to service the accounts and other products in a business as usual mode. 7. As a Citigold client, will I still receive the same banking services? What about my contract privileges? The transaction shall not affect your banking services, as well as your contract privileges until the end of the transition period (which is not expected to end before the fourth quarter of 2016), when your Citibank customer accounts are transferred to Erste. All terms and conditions from your Citibank customer agreements will remain in full force until further notification in compliance with the applicable regulations. 14

15 8. Can I further use my existing Citibank bank card? Yes, all current Citibank products, services and reward programs will continue to be available for our customers in the transition period, which is not expected to end before the fourth quarter of Will I get a new bank card and when? Until the transfer of customer accounts, which is not expected to occur before the fourth quarter of 2016, Citibank services continue to be available with no changes, including the usage of your current bank card and card renewal (if necessary during the transition period) in accordance with the relevant general terms and conditions. All customers will be informed way ahead in time about any changes or any actions needed in relation to the transaction. 10. My bank card will expire soon, will I get a new bank card, if yes, from whom? Until the transfer of customer accounts, which is not expected to occur before the fourth quarter of 2016, Citibank services continue to be available with no changes according to business as usual processes, including the usage of your current bank card. If your card expires in the transition period, Citibank will issue your renewed bank card as per current general terms and conditions. 11. Will cash-withdrawal from Erste Bank ATM with my current Citibank bank card be cheaper for me from now on? Erste Bank ATMs will be considered as own ATMs for Citibank customers? Until the transfer of customer accounts, which is not expected to occur before the fourth quarter of 2016, Erste Bank ATMs will be considered as 3rd party ATMs (ATMs not located at Citibank branches). 12. What will happen with my investment portfolio and other wealth services? The transfer will not affect the terms and conditions of your customer agreements. Citibank and Erste are committed to delivering a seamless transfer of Citibank s customer accounts, having regard to the special profile of customers such as yourself. If there should be any change in the future, you will be notified in due course by Erste in accordance with the applicable regulations. Please note that Investment products are subject to investment risk, including the risk of loss of the invested capital. Past performance is no guarantee for future performance, and prices may go down or up. Information related to future performance is based on estimation, investors cannot draw reliable conclusions from that. 13. I am a Citigold customer. Will I still have all my existing communication channels with Citibank? In the transition period (until customer accounts are transferred to Erste), which is not expected to end before the fourth quarter of 2016, Citibank will continue to service you through your dedicated Relationship Manager, as well as through the Citigold service line 06-15

16 Currently no actions are required by Citibank customers regarding the transaction, all customers will be informed way ahead in time about any developments or any actions needed in relation to the transaction. 14. Will I be able to renew my dual currency deposits? Dual currency accounts continue to be available at Citi before the transfer date (which is not expected to occur before the fourth quarter of 2016) conditional to the given deposit reaching its maturity date before the transfer date. After the transfer you will be able to renew your dual currency deposits with Erste. Should there be any changes in the future, you will be notified in a timely manner. 15. I have availed Mutual Fund product(s) that Erste does not offer. What happens to my mutual funds after the Transfer Date? How can I ensure its continuity? Erste has one of the widest range of mutual fund offers in the Hungarian market. Mutual funds that are not yet available at Erste will be launched before the transfer. Should there be any changes in the future, you will be informed in a timely manner. 16. Will I be able to invest/redeem my investment in Mutual Funds / Structured Notes? Until the end of the transition period you are able to invest/redeem in mutual funds / structured notes through Citibank as per current practice and existing agreements. 17. What guarantees do I have for my investments and how will it change? Investments made by customers with Citibank enjoy the protection under the Irish Investor Compensation Company Limited (ICCL). If until the transfer Citibank becomes unable to repay its obligations, you will be able to recover your money up to a cap of 90% of the money you have lost, but maximum of EUR 20,000. After the transition period, as Citibank customer accounts transfer to Erste Citibank's customers will no longer be covered under the protection of the Investor Compensation Company Limited (ICCL) and will become protected under the Hungarian Investor Compensation Scheme (BEVA). Investments made by customers with Erste Investment Limited enjoy the protection under the Hungarian Investor Compensation Scheme (BEVA). If after the transfer Erste becomes unable to repay its obligations, you will be able to recover your money up to a cap of 90% of the money you have lost, but maximum of EUR 20,000 (which will change to EUR 100,000 as of 1 January, 2016). 18. What is Erste Befektetési Zrt? Erste Befektetési Zrt is a 100% subsidiary of Erste Bank, which is handling consumer investments accounts for Hungarian Erste Group. 16

17 19. What will happen with the Citi IPB accounts? IPB customer accounts are not part of this transaction. The IPB accounts and all related personal banking services will continue to operate with unchanged terms and conditions. 20. As a Citi IPB client, how will I be able to access my funds held with Citi IPB UK? IPB customer accounts are not part of this transaction. The IPB accounts and all related personal banking services will continue to operate with unchanged terms and conditions. 17

18 Questions related to credit cards 1. Will my Citibank credit card remain the same or will it change? During the transition period (which is not expected to end before the fourth quarter of 2016) you can continue to use your credit cards with unchanged conditions, including Citi Forint collection and redemption. Your card will be replaced according to business as usual process, in line with the current general terms and conditions, if needed. We will keep you informed in time of any related upcoming changes. 2. Can I continue to use my Citibank credit card without change (payments at merchants, cash withdrawals, direct debit payments, utility payments, Citi Forint collection and redemption, etc.)? During the transition period (which is not expected to end before the fourth quarter of 2016), you can use your credit card without any change. We will keep you informed in time of any related upcoming changes. 3. Where can I continue to make my regular credit card repayments? During the transition period (which is not expected to end before the fourth quarter of 2016), you will be able to use existing Citibank channels for the regular payment of your utility bills and outstanding amount. The account number to which the payments shall be made will not change in the transition period. We will keep you informed in time of any related upcoming changes. 4. Will my credit limit remain same or will it be revised? The transfer does not affect your credit limit. 5. Do I need to pay back the entire sum owed to Citibank (including instalment products)? No, you do not. During the transition period Citibank s terms and conditions are still applicable, as per the current regulations. You are requested to pay back your outstanding balance according to the terms and conditions of your customer agreements. According to the relevant legal regulations, you only have to pay back your outstanding balance in one amount if you do not wish to become a customer at Erste Bank, and you terminate your contract before the planned transfer of customer accounts based on the notification you receive from Citi in advance. 6. I have a Citibank co-branded credit card (Shell-Citibank Credit Card, Telekom- Citibank Credit Card). What will happen to that? During the transition period (which is not expected to end before the f ourth quarter of 2016), you will still be able to use your Citibank co-branded credit cards and the same terms and conditions will apply as have applied previously, according to your customer agreements. We will keep you informed in time of any related upcoming changes. 18

19 7. Who should I call if I have problems with my Citibank credit card? During the transition period (which is not expected to end before the fourth quarter of 2016), you will continue to use the regular Citibank channels such as CitiPhone Banking, Citibank Online and branches. We will keep you informed in time of any related upcoming changes. 8. What will happen to my reward points/citi Forints on my Citi Life, Shell- Citibank, or Telekom-Citibank credit card? During the transition period (which is not expected to end before the fourth quarter of 2016) you are able to collect and redeem your Citi Forints/reward points on your Citi Life, Shell- Citibank, or Telekom-Citibank credit cards as before, according to the terms and conditions of your customer agreements. We will keep you informed in time of any related upcoming changes. 9. Will my fees and interest rates remain the same? During the transition period (which is not expected to end before the fourth quarter of 2016), you will still be able to use your Citibank credit cards and the same general terms and conditions and list of fees and charges will apply as have applied previously, according to your customer agreements. We will keep you informed in time of any important upcoming changes. 10. What will happen with the insurances enrolled with my credit card? During the transition period (which is not expected to end before the fourth quarter of 2016), you will continue to benefit from the existing insurances enrolled into customer credit card. We will keep you informed in time of any related upcoming changes. 11. What will happen with CitiAlert & e-statement facility? There will not be any changes in CitiAlert or the e-statement facility during the transition period (which is not expected to end before the fourth quarter of 2016). We will keep you informed in time of any related upcoming changes. 12. What billing cycle will be followed, will it be existing as per the Citibank credit card or will it be revised? During the transition period (which is not expected to end before the fourth quarter of 2016) no change is envisaged in billing cycles. We will keep you informed in time of any related upcoming changes. 13. What will happen with supplementary cards and stickers? During the transition period (which is not expected to end before the fourth quarter of 2016) you will continue to use your stickers and supplementary cardholders will continue to use their supplementary cards with no changes. We will keep you informed in time of any related upcoming changes, including the transfer of stickers or supplementary cards. 19

20 14. Is there any change regarding my monthly payments? During the transition period (which is not expected to end before the fourth quarter of 2016) there is no change regarding your monthly payments. We will keep you informed in time of any related upcoming changes. 15. Will any details for my monthly credit card payment by direct debit need to be changed? During the transition period (which is not expected to end before the fourth quarter of 2016) you will not need to make any changes in this respect. We will keep you informed in time of any related upcoming changes. 16. Can I further use my existing Citibank credit card? Yes, all current Citibank products, services and reward programs will continue to be available for our customers during the transition period (which is not expected to end before the fourth quarter of 2016). We will keep you informed in time of any related upcoming changes. 17. Will I get a new credit card and when? Until the transfer of customer accounts, which is not expected to end before the fourth quarter of 2016, Citibank services continue to be available with no changes, in line with the current terms and conditions, including the usage of your current credit card and card renewal (if necessary within transition period). We will keep you informed in time of any related upcoming changes. 18. My bank card will expire soon, will I get a new bank card, if yes, from whom? Until the transfer of customer accounts, which is not expected to occur before the fourth quarter of 2016, Citibank services continue to be available with no changes, in line with the current terms and conditions, including the usage of your current bank card. If your card expires in the transition period, Citibank will issue your renewed bank card as per current practice. We will keep you informed in time of any related upcoming changes. 19. Will the conditions of my instalment product(s) linked to my credit card remain the same (Loan on Phone, Advanced Loan on Phone, Equal Payment Plan) and Instant Money Service? Yes, during the transition period and after the transfer of customer accounts (which is not expected to occur before the fourth quarter of 2016) the same terms and conditions, including interest rate, will apply as have applied previously, according to your current customer agreements. We will keep you informed in time of any important upcoming changes. 20

21 Questions related to personal loans 1. Where can I continue to make my regular Citibank loan repayments? During the transition period (which is not expected to end before the fourth quarter of 2016), you will be able to use all existing channels for the regular payment of your outstanding amount under the Citibank personal loan agreements currently available to you. We will keep you informed in time of any related upcoming changes. 2. Should I keep paying Citibank or should I now start paying to Erste? During the transition period (which is not expected to end before the fourth quarter of 2016) you will keep paying Citibank through the current channels / payment mode. There will be no change in the payment process or Citibank account number during the transition period. We will keep you informed in time of any related upcoming changes. 3. What will be my point of contact for my Citibank consumer personal loan contracts? During the transition period (which is not expected to end before the fourth quarter of 2016) Citibank will be your first point of contact for any inquiries you may have related to your Citibank products and services. We will keep you informed in time of any related upcoming changes. 4. What will happen with the insurances enrolled with my Citibank loan? During the transition period (which is not expected to end before the fourth quarter of 2016), you will continue to benefit from the existing insurances linked to your Citibank loan. We will keep you informed in time of any related upcoming changes. 5. Can I contact Citibank if I need additional loan amount or would like to apply for a new loan? Yes, business will continue as usual, including acquisition of new customers and offering additional loan amounts. 6. Will my monthly instalment, interest rate or other conditions remain the same? Yes, during the transition period and after the transfer of customer accounts the same terms and conditions, including interest rate, will apply as have applied previously, according to your customer agreements. We will keep you informed in time of any important upcoming changes. Last update on

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