Current account overdrafts and limits

  • split payment does not reduce inflows to a current account, but it affects the account balance (VAT excluded)
  • intra-day limit amount is verified against daily overdraft repayment following the introduction of split payment
  • a VAT account cannot be used to secure any obligations other than VAT obligations

 

Investment, working capital, and revolving loans

  • in the case when a contract provides for making payments based on invoices, loans are disbursed in accordance with the contract in the following amount:

- net amount

- % of net amount

- VAT amount

- gross amount

  • the final decision as to whether a transfer reducing the available loan amount is executed in the split payment mode is made by the borrower. Note: from 1 November 2019 split payment is mandatory for selected industries.