The MKB SZÉP Card is available in all member bank branches of Hungarian Bankholding
The MKB Széchenyi Recreation (SZÉP) Card can now requested at the entire member bank branch network of Hungarian Bankholding, available in the branches of Budapest Bank and Takarékbank which will be acting as remote agents of MKB Bank. Through the step, which facilitates the development of the unified product sales of Hungarian Bankholding, the opening of an MKB SZÉP Card account will be easier for clients living in large cities, as well in smaller settlements.
The MKB Széchenyi Recreation (SZÉP) Card has become available in the entire network of financial institutions belonging to the Hungarian Bankholding. In addition to MKB Bank, Budapest Bank and Takarékbank will also provide the popular product to customers. Due to the utilization of synergies between the member banks of the banking group – in addition to the option of opening an account via video bank – the MKB SZÉP Card will be available at almost 900 locations instead of the 50 branches of MKB.
For customers who already have an MKB SZÉP Card, for service providers who accept the card and for employers who transfer benefits to such accounts, the change does not involve any administrative change.
MKB Bank has achieved outstanding results under the 10 years since the MKB SZÉP Card was launched, with experts expecting that the traditionally high account opening numbers in November and early December will continue to grow this year. This is not only due to the expansion of account opening locations, but also to the special rules related to emergencies, which could make the SZÉP Card an even more attractive employer benefit by the end of the year.
In connection with the emergency related to the coronavirus pandemic, employers only have to pay personal income tax instead of social security contribution upon the SZÉP Card benefit between 22 April 2020 and 31 December 2021, thus the tax rate to be paid during this period is only 15%. In addition, the annual limit of the SZÉP Card benefit of HUF 450,000 was set higher in 2020 and 2021, at HUF 800,000. An additional discount is that until 30 September 2022, the amount on each sub-account of the SZÉP Card can be used to settle services specified in any other sub-account.
The Széchenyi Recreation Card serves to expand the availability of services related to maintaining health, living a healthy lifestyle and improving the quality of life in general. Another goal of the products is to strengthen the economic development role of tourism and to expand the domestic sources of economic growth. In a given year, support can be granted to the SZÉP Card in the framework of a benefit in kind (cafeteria), with reduced taxation, which can be placed on three sub-accounts for accommodation, hospitality and leisure.
"At Hungarian Bankholding, we are constantly working to introduce flexible, customer-centric solutions and to extend our existing and popular member banking products and services to our entire network. By expanding the availability of the MKB SZÉP Card, people living in smaller settlements of the country can also apply for the product: this is in line with our goal to locally provide outstanding financial services to customers.”
Hungarian Bankholding Ltd.
Hungarian Bankholding Ltd. is a domestically owned financial holding company, which aims to implement the merger of Budapest Bank Zrt., MKB Bank Nyrt. and Takarék Group. The company commenced its effective operation on 15 December 2020, after MNB (acting as the central bank of Hungary) approved the merger of three credit institutions, and the shares of the key owners were transferred to the joint holding company. By transferring the in-kind contributions, the second largest banking group in Hungary has been established.
In March 2021, the Board of Directors and the Supervisory Board of the Hungarian Bankholding approved their five-year strategy for the merger of the member banks, based on which the fusion of the three credit institutions is planned to be concluded in 2023. The aim of the emerging large bank is to be the most modern bank in Hungary, which will introduce flexible, internationally leading digital solutions.The new large bank will serve the full market spectrum and all customer segments in the future, with a significant emphasis on the provision of new, modern range of products and services to retail, micro, small and medium-sized enterprise and agricultural customers.