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Markets in Financial Instruments Directive MiFID
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Client classification
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Risk description
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Service
Payment handling
Prestige, apart from sophisticated, individually tailored products, offers a wide array of "tools" permitting efficient and effective funds management, handling payments and obtaining detailed information about the financial transactions done.
To mention but a few:
- transfers,
- bill payments,
- standing orders and waiting standing orders,
- direct debits,
- combined statement.
Transfers
Every Prestige Customer has the availability of a range of advanced and convenient ways to safely transfer money both to other accounts with the Bank as well as to any account kept with another bank. The Bank's advanced IT system supports immediate processing of the transfers (account debiting and crediting) not only between the Customer's accounts kept with Bank Millennium, but also to all accounts maintained in the Bank.
Transfers in Millennium can be made quickly through:
- Linia Prestige, i.e. the 7/24 Call Centre by calling - 0 800 12 7000 ,
- multifunctional Millennium ATMs,
- internet - millenet online banking system,
- in each of the 42 Bank Millennium Financial Centres in Poland's biggest cities,
- in each of the more than 500 Bank Millennium branches throughout Poland.
Bill payments
Bill payments is a convenient way to pay all repetitive bills with varying amounts. Without the need to stand in a queue you can pay your phone, electricity or gas bill.
Bill payments:
- convenience and time saving,
- simple way to make payments,
- service available anytime and anywhere,
- no banking fees and commissions.
Just define the payment, indicating the account, specifying a simple and convenient name for the payment (e.g. gas or electricity bill, etc.). Thus making the payment in an ATM or through Linia Prestige just state the payment amount.
Standing Orders and Waiting Standing Orders
Standing orders permit conducting regular cashless transactions. Providing this service the Bank undertakes to make automatic transfers of money from the Customer's account to another account with Bank Millennium or another bank, on a specified date and in a specified amount.
An innovative solution is the additional functionality of standing orders, which may be called "waiting" standing orders. As opposed to regular standing orders, where if the account balance is insufficient the payment is withheld and the Customer has to make the transfer personally, here the "waiting" standing order is defined in such a way, that the system automatically checks the account balance and makes the transfer when the funds available are sufficient. Attempts to make the transfer are repeated several times until effective.
Standing orders:
- are convenient and save time,
- give certainty that the transfer will be made on time,
- are an easily available and simple service.
Combined Statement
All Customers who have at least a personal account with Bank Millennium receive the combined statement, which is mailed at no extra charge.
The statement contains full information both about all accounts of the Customer kept with Bank Millennium and the Bank at large as well as all details about balances and transactions on the Customer's account. If the Customer has cards, including credit cards - the combined statement will also contain detailed information about the cards held and relevant billing.
In Prestige the combined statement is mailed at the end of each month as standard. Shorter period statements are also available.
The Combined Statement in Prestige:
- clear and complete information about accounts held and their balances,
- detailed information about transactions made on the account,
- information available in Polish and English,
- generation and mailing of the statement is free of charge.
Direct debit
Direct debit is a modern and convenient payment instrument allowing debiting of the payer's account with liabilities towards the provider of products or services (telecommunication, gas, electricity, etc.). You save time that normally is used for making transfers.
To use the direct debit service you only have to authorize the creditor to charge your Prestige account. Appropriate forms are provided by the creditor.. Thanks to direct debit your service company will send an additional copy of your invoices direct to the Bank. It ensures that your payments are reliable and always on time.
The Bank executes the direct debit on the day mentioned in an invoice. In case of outstanding invoice or bill the Bank executes the adequate transfer on the day of reception.
MilleSMS
The MilleSMS service covers:
- SMS transactions - transfers can be ordered with SMS text messages,
- SMS inquiries - information about accounts (balance, history, IBAN number) and credit cards (balance, history) can be obtained via SMS text messages,
- Notification before an event - text message reminders of approaching events on accounts and credit cards (card debt repayment, maturing term deposit, transfer with future date, standing order, loan payment etc.)
- Notification after an event - SMS notifications about events on accounts and cards (transfer, ATM cash withdrawal, POS transactions, standing order, failure to make a transfer, failure to execute a standing order etc.)
MilleSMS service: - Ongoing control over finances - a convenient way to get quick information about transactions on the account as well as card transactions,
- Security of cards,
- Flexible adjustment of the service to own needs:
o The type of transactions the Customer is informed about can be defined,
o Period of advance notice for planned transaction reminders can be set from 2 to 7 days,
o The amounts, above which the customer will be informed about transactions, can be defined - Attractive pricing of the service:
o No subscription fee,
o Lack of fees for text message.
The MilleSMS service is available to Prestige Customers who have active access to their account via Millenet online banking.
Brokerage Services
In order to buy or sell securities admitted to organised trading it is essential to have an investment account (a securities and a money account). After signing an agreement on orders of purchase and sell off of the financial instruments and maintenance of account as well as appropriate statements, a Prestige Customer can make transactions on the investment account also via Bank Millennium.
With a securities investment account a Prestige Customer enjoys following benefits:
- Rights to participate in a company's earnings (dividend),
- Drawing rights (preferences when purchasing shares in a new issue),
- Voting rights at the general shareholders' meeting,
- Buying listed bonds or investment certificates on the organised market,
- Real-time monitoring of prices of securities, placing orders and performing ongoing analysis of portfolio value,
- Placing orders with each of the 12 Customer Service Points in Poland and (after submitting an appropriate statement) in each Bank Millennium Financial Centre,
- Placing orders in Millennium Dom Maklerski personally, by telephone, fax or the Internet,
- Free-of-charge fast transfers can be made between the investment account in Millennium Dom Maklerski and the bank account with Bank Millennium via Millenet.
Prestige Customers who want to invest on the capital market directly must have an investment account.