Securities account opening in mBanking

The conditions for opening a securities account in the UniCredit mBanking mobile app

the account holder is a private individual resident in Hungary over the age of 18,
the account holder already has a (non-costumer account) HUF/EUR/USD current account at the Bank and is actively enrolled in the mBanking service,
the account holder’s personal identification document / driving licence card / Hungarian passport as submitted to the Bank is valid (has not expired),
the client identification process has been performed in accordance with the requirements of Act LIII of 2017 on the Prevention and Combating of Money Laundering and Terrorist Financing and the identification is valid (does not have expired status),
the account holder did not previously have a securities account at the Bank,
the menu item used to start the securities account opening process is displayed at the bottom of the mBanking service home screen,
the account holder has a Hungarian mobile phone number and an e-mail address (can be changed at the beginning of the process),
the account holder has a Hungarian tax identification number (starting with the number 8 and consisting of 10 digits).

If you do not meet any of the above conditions, please book an appointment at any of our bank branches where our expert associated will assist you.

How can I use mBanking to open a securities account?

Log in to mBanking service in the UniCredit’s mBanking mobile application, then tap on the Securities account opening section of the Investment product at the bottom of the landing page, which will redirect you to launch the securities account opening process, or choose one of the securities types on the Investments and savings tile under the Offers menu item on the home screen.

Check the Hungarian mobile phone number and the e-mail address displayed by the system and change or add them as necessary. Please enter your tax identification number, if it is not yet included in our system.

You will need to complete the MiFID form (Investor’s questionnaire) to open a securities account. The purpose of this questionnaire is to enable UniCredit Bank Hungary Zrt. (1054 Budapest, Szabadság tér 5-6., company registration number: cg. 01-10-04134801-10-041348, tax number: 10325737-4-44) to assess - in accordance with its obligation to obtain customer-related information in advance as set out in Act CXXXVIII of 2007 on Investment Firms and Commodity Dealers, and on the Regulations Governing their Activities (the “AIFCD”) - your investment experience, risk appetite, financial situation, and investment goals so that the Bank may recommend the products that are most appropriate for you. Your answers given to the questionnaire will be evaluated and the result of the evaluation will be delivered to you in writing.

You can complete the MiFID form in any of the following ways:

In case of an all-inclusively, you are required to answer all questions (appropriateness test (investment knowledge and experience) and suitability test) in the interest of providing all relevant information required for the Bank to be able to provide you with investment advice. Please be informed that in case you do not answer all the questions, i.e. the Bank does not receive all the information which is required for an evaluation, or if on the basis of the result of the evaluation the Bank may not recommend financial instruments to you, the Bank is not allowed to provide you investment advice services in accordance with the AIFCD. You have to answer all questions and provide a true and fair view of the factual situation to enable the Bank to recommend the most appropriate products for you.

You can also make your declaration based only on your Investment knowledge and experience, in which case the Bank may not provide investment advice and may only provide you with information on whether the investment is appropriate for you. In such cases, we provide information only on our investment knowledge and experience in order to enable the Bank to examine the appropriateness of complex financial instruments or any other financial instruments included in the contracts made and orders given by us in-person. If you disclose only your investment knowledge and experience, i.e. you only complete the first section of the questionnaire, the appropriateness test, then in accordance with the AIFCD and in the cases specified in that act, the Bank will only be able to examine and consider the appropriateness of the investment for you. This information, however, does not authorise the Bank to provide you with investment advice that is in line with your personal investment goals.

If you choose, I do not wish to provide any information and, at the same time acknowledge that, in the absence of information the Bank is not be allowed to offer me investment consultancy services and will not be able to review the appropriateness of financial instruments.

The purpose of the appropriateness test (investment knowledge and experience) is to enable the Bank to identify the services, transactions, and financial instruments known to you, and examine whether you have relevant qualifications and professional experience.

The completion of the suitability test is a prerequisite for the provision of investment consulting, as it allows the Bank to assess your financial capability, risk tolerance, loss tolerance, investment objectives and investment horizon. Our aim is to assess your approach to risk, the objectives you wish to realise with the investment, and the planned timeframe of the investment, which help us identify the product group(s) that are most suited to you.

After completing the Investment questionnaire, you will only have to take two more steps: set the current accounts linked to the securities account and the right of disposal over digital channels.

Selecting linked current accounts

The current accounts (HUF, EUR, USD) listed in the mBanking service are selectable (one account per currency) to be linked to the securities account. The system will then be able to fulfil securities orders from these accounts. Of the selected current accounts, select the one that will be the primary debit account - you should choose an account with the same currency as your source of income. The custody fee will be determined in HUF in the applicable list of conditions. If you choose a current account kept in another currency the bank will exchange the custody fee and charge the account in the given currency. If the funds on the selected account are insufficient, the Bank will charge the custody fee to the next account with priority.

Selecting linked digital channels

The mBanking Investment module with signature rights and the option for in-branch administration are linked to opening a securities account online. The eBanking and Phone Banking options are available only if you have signed a contract for these services pertaining to the linked current accounts. If necessary, you can change the rights you have set in our nationwide network of branches. You can link a securities account to the eBanking or Phone Banking channel, if you have the signature rights (the right to place orders) or the view only rights (without the right to place orders).

Signatures

A valid Hungarian mobile phone number is required for electronic signatures; you can check the phone number registered in the system at the start of the process and change it, if necessary. You will need to sign in 2 locations during the process. The first is the assessment after you complete the MiFID questionaire, the second is the document containing the answers you gave to the questions. In this section, the “Accept and continue” button becomes active after you have viewed all pages of the document to be signed. Pressing it allows you to sign these documents together, after which we will send you a one-time code in a text message. You will have to enter this code and the PIN code you use to log in to mBanking or use biometric identification to finalise your signatures on the documents.

You will also need to provide your signature at the end of the process, when you sign the Consolidated securities account contract and the Data sheet for the granting of access rights to the Digital services. Here, you can start the signature process for the given document by tapping the “Sign signature field” within the document. If you would like to sign all of the documents at the same time, choose the “Batch sign” option, accept the conditions for electronic signatures, then enter the one-time code we send you in a text message to finalise the signing of the documents and complete the opening of your securities account.

We will send you the documents that precede contract conclusion by e-mail (you can check/change your e-mail address at the start of the process). You can view the documents you have signed on the “More” > “Documents” page accessible from the mBanking home screen.

The securities account is opened

After you sign the contracts, your securities account has been opened. If you would like to place your first securities order using the mBanking service, you will be able to do so after 12:00 pm on the following bank working day. You can also place securities orders immediately after opening your securities account by visiting a branch office in person or by using the eBanking and/or Phone Banking service, if, in addition to the securities account, you requested the eBanking and/or Phone Banking service with signatore rights (the right to place orders).

What happens, if you started the securities account opening process, but had to interrupt it?

You can complete the securities account opening process between 4:00 am and 9:45 pm on the given day by clicking on the link in the e-mail we sent you or by tapping the Investment area on the mBanking home screen.

You will not be able to complete a process started on the previous day (incomplete processes are automatically deleted). In this case please re-enter the data required for opening a securities account.

Can’t see the securities account opening option in mBanking?

If none of the conditions listed in the section on the conditions for opening a securities account using mBanking apply to you, please try updating the mobile app. You can download the newest version of the UniCredit mBanking mobile app from the Google Play store (for Android) or the App Store (for iOS). If that does not solve the issue, please book an appointment at any of our bank branches where our expert associated will assist you.

Updating and modifying the investment form (MiFID questionnaire)

Do you have a securities account at the Bank? As a retail account holder, you can use mBanking to make changes to your investment form at any time, if required by a change in your life, if you gain additional product knowledge, or because of the expiry of the form.

You can access the MiFID update function by following these steps:

tap on the “Investment” module on the bottom of the mBanking home screen > choose the “Account list” tab in the top row > choose “Main security account” from the list of accounts > tap on Account information > tap on the arrow next to the expiry date of the MiFID validity at the bottom of the Account information page.