Credit Card Repayment

Payment Details

Due Date

Payment Problems

Instalment details

How does credit card repayment work?

A credit card is a short-term credit. At the beginning, we approve a credit limit based on creditworthiness and income. Then you can pay with the issued card.

If you settle the full amount drawn on time (by the due date, within the so-called interest-free period), you pay no interest. You always have 25 days from the statement date for the repayment. The exact amount and date can be found in the statement.

If you fail to meet the conditions of the interest-free period, interest and possibly late payment fees will be charged. Cash withdrawals are always subject to interest, the interest-free period does not apply to them.

What are the options for paying the instalment?

You have three ways to choose from.

By cashless transfer from a CZK current account (at Raiffeisenbank or another bank)
Always use the last ten digits of the card as the variable symbol. Without the variable symbol, the payment will be returned, which may cause delays and interest charges. Submit the payment order at least three business days before the due date.
By direct debit from a CZK current account (held with Raiffeisenbank or another bank)
Setting up direct debit is done in two steps.
First, contact your banker or the Client Line, request to change the repayment method to direct debit, and provide the account number from which the installments will be debited. Then, set up the direct debit authorization on your account (at another bank, this is done by giving consent to debit in favor of the credit card installment account).
If you have an account at another bank, do not enter a variable or constant symbol; set the monthly frequency and a direct debit limit at least 10% higher than the card’s credit limit.

Remember that direct debit must be set up before the statement is generated. Direct debit of the minimum payment is free of charge, while direct debit of the full outstanding amount is subject to fees according to the current Price List.

By depositing the amount in cash
Deposits can be made at branches with a cash desk.

The installment amount is calculated down to the last cent, so please pay it in full without rounding.

Can I pay an instalment from abroad?

We do not recommend making payments from abroad or through foreign financial intermediaries.

Incorrectly placed or incomplete payments must be processed manually. In such case, we cannot guarantee that the instalment will be credited in time and the payment may be returned to the payer. There is also a risk of charging interest due to failure to comply with the due date.

For foreign payments, the processing time is longer - up to 5 business days, so send them at least 5 business days before they are due.

How does repayment by direct debit work?

You can pay your credit card installments by direct debit from your current account. The setup is done in two steps and depends on whether you have an account with us at Raiffeisenbank or with another bank.

If you have an account with us at Raiffeisenbank,
a banker or the Customer Service Line, will help you with the setup. First, request to change the repayment method to direct debit and provide the CZK current account number from which the installments will be debited. Then, set up the direct debit authorization on this account. Note, the setup is not automatic.
If you have an account with another bank,
Contact your banker or the Customer Service Line, request to change the repayment method to direct debit, and provide the CZK current account number from which the installments will be debited. Then, set up the direct debit consent at your bank in favor of the credit card installment account.
When setting up direct debit at another bank, please:
- Do not enter a variable or constant symbol,
- Set the monthly frequency,
- Set the direct debit limit at least 10% higher than the card’s credit limit (to cover any possible interest and fees).

Attention: Direct debit must be set up before the statement is generated. If you set it up later, it will take effect only in the next billing period, and the current installment will need to be paid by another method (for example, by transfer or in cash).

We perform direct debit:

1 business day before the due date for accounts held at Raiffeisenbank,
3 business days before the due date for accounts held at other banks.

To ensure the direct debit is successful, please make sure there are sufficient funds in your account on time.

What is the easiest way to repay?

The easiest way to make an instalment is through mobile or internet banking. Just click Repay in the card detail.

Then, choose one of the following options:

Payment of the mandatory minimum amount
By paying the mandatory minimum instalment by the due date, you will meet your obligation to pay on time and avoid late payment. The minimum instalment is 3.2% of the amount owed, at least CZK 200.
Repayment of the total amount owed
By paying the full amount owed by the specified date, you will benefit from the interest-free period of up to 55 days. However, this only applies to payments made at merchants.
Repayment of a part of the currently drawn amount
This option allows you to settle part of the amount owed, except for Instalment programmes.

From which account can I repay?

Repay your credit card from a CZK current account held with Raiffeisenbank or another bank.

For payments from other banks, do not expect them to be credited to the card account immediately and send them three days in advance. Instant Payment means that the payment is immediately debited from your account, not immediately credited to the instalment account.

What is the amount of automatic direct debit?

Direct debit is convenient, we take care of the due date. All you have to do is specify whether we should debit the total amount owed (100%) from your CZK current account or the mandatory minimum instalment (MMI) of 3.2% of the amount owed, at least CZK 200.

If the debt as of the statement date is less than the MMI, the MMI is equal to the total amount owed. Collecting the minimum instalment is free of charge, collecting the entire amount owed is subject to a fee according to the currently valid Price List.

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