In this world, where everything is built from loans, banks decide what they wish to finance. Several newbanks operating all over the world give their customers the right to make their own choices, who then make responsible decisions about what projects they wish to promote with their savings.
MagNet Bank uses the funds held in Sphere deposits to finance only those loans that belong to the following spheres:
Our deposit holders can make their own choices and select the sphere they wish to promote.
Read more about our SPHERE deposit.
If you hold a MENTOR deposit, you can choose which borrower you wish to support, and MagNet will provide financing from your Mentor deposit solely for that borrower. Óbuda Waldorf Foundation is the first MagNet customer whose loan conditions can be made more favourable by depositing money into MENTOR deposits. We are planning to make our MENTOR deposit-loan product available to other borrowers as well in the future.
Read more about our MENTOR deposit.
General terms and conditions of community deposits:
Within the framework of our Community Donation Programme (CDP), our customers are given the opportunity to decide on the use of 10% of the MagNet Bank’s yearly profit and also the right to choose which foundations should share that 10% profit. This way we provide financing to foundations and civil organizations engaged and delivering results in the field of health care, environment and culture.
Community account packages
CSILLAG community account
The cost and fees of the account package, which has been called Csillag since September 1 2010, have become even more favourable as all transfers between MagNet accounts have become free. It is called a community account since our retail clients can transfer funds to foundations and organizations free of charge.
Do you have a computer? Do you use the Internet? Yet you are queuing in the post office to pay your cheques?
There is a much comfortable way of doing that: CSILLAG retail account package. You can pay your cheques and bills around the clock in a fast and comfortable way by keeping track of your account movements (free transfer under HUF 100,000). Free account keeping is guaranteed until January 1, 2012.
CIVIL community business account
Our CIVIL community account has been developed specifically for public benefit organizations. When calculating costs and fees, we tried to take into account the cost sensitivity of these organizations. As a result, there is no monthly account keeping fee, only the fees and commissions of the transactions executed need to be paid. The costs and fees of transfers via the NetBank system have been substantially reduced and all transfers between MagNet accounts have become free.