Raiffeisen Bank
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Foreign paymenets
Raiffeisenbank processes incoming and outgoing foreign payments in foreign currencies and in CZK. This includes payments in foreign currencies to other banks in the CR and the processing of cheques for collection.
Advantages
- quick processing of a payment order within the deadlines specified in the Commercial Terms and Conditions
- reductions available on selected types of payments
- Euro payments
- Payments within the Raiffeisen Group in selected accounts (for more information click here)
- payment instructions are easily entered
- payments are safely processed by means of the international telecommunications network SWIFT, which guarantees the safe, fast and reliable transfer of data between individual financial institutions
A condition for making a foreign payment is a complete and valid payment order and sufficient funds in the account.
Currencies
Raiffeisenbank mediates payments to all countries in a range of currencies. A list of the currencies in which payments can be made is given in the bank’s exchange list.
There are reductions on euro payments in accordance with the Raiffeisenbank Schedule of prices.
Deadlines for the processing of foreign payments
Raiffeisenbank processes incoming and outgoing payments within the deadlines specified in the Commercial Terms and Conditions. Payments sent electronically are guaranteed the most advantageous deadlines.
Special service for foreign payments
Euro payments
This involves outgoing or incoming payments in euros which are charged at a reduced rate.
Euro payment is only that payment which, upon being entered, meets all the conditions stipulated by Regulation No. 2560/2001 of the European Parliament and Council on cross-border payments, i.e. a payment within the framework of countries of the EEA, in EUR, up to EUR 50,000 inclusive, with a valid and correctly entered BIC, the recipient’s account number in the IBAN format, with fee variant SHA and without a right to further special processing instructions.
The current list of European and non-European countries where IBAN and its structure is used is published by the European Commission for Bank Products in the document Register of European Account Numbers.
Raiffeisenbank offers reductions on payments for selected types of accounts
Payments within the Raiffeisen Group
Payments in EUR within the Raiffeisen Group transferred between accounts held in EUR are processed under advantageous conditions.
This advantage applies for transaction fees and relates to the standard fee and the cross-border payment fee. Incoming payments are credited to the client’s account on the day the payment is processed.
Incoming payments from Tatra banka a.s.
There is a lower fee for payments from the Slovak Tatra banka a.s. in CZK which are credited to Raiffeisenbank clients.
If the condition is met that the incoming payment is in CZK and the recipient’s account at Raiffeisenbank is held in CZK, this payment is credited to the client’s CZK account without a fee on the day the payment is processed.
Outgoing payments to Tatra banka a.s.
A payment sent from Raiffeisenbank to the Slovak Tatra banka a.s. in SKK is subject to a reduction on the part of Raiffeisenbank.Tatra banka a.s. charges the recipient of such a payment only a fee per item and does not bill any other fees.
Raiffeisenbank processes a payment in SKK to Tatra banka a.s. within a shortened deadline, i.e. with the next business day’s foreign exchange rate.
Entering outgoing payments
Transfers take place on the basis of correctly completed payment orders which you can enter:
- electronically
- in person at all branches
In order to make this payment you must complete of all the specified details of the payment order and have sufficient funds in your account. In the case of cross-border payments transferred within the framework of member states of the European Union and the European Economic Area it is necessary to specify the recipient’s BIC and the recipient’s account number in the IBAN format. If you do not enter this information, additional expenses may be billed for searching for and completing the required information necessary for the smooth processing of the payment.
Instructions for incoming payments
If a payment is to be credited to your account the bank details must be filled in by your business partner. A payment order from abroad into your account at Raiffeisenbank must therefore contain the following information:
Recipient’s account no.: | CZXX5500XXXXXXXXXXXXXXXX |
Recipient’s account name: | the name under which the account is held at Raiffeisenbank |
Recipient’s address (optional): | street, town/city, postal code, state |
Name of recipient’s banks: | Raiffeisenbank, a.s. Prague, Czech Republic |
Swift address of recipient’s bank, BIC: | RZBCCZPP |
Types of payment
Within the framework of the foreign payment system the price you pay depends on the type of payment selected.
SHA | the mandator pays the fees charged by its bank, the recipient pays the fees charged by its bank and other mediating banks, as applicable |
OUR | the mandator pays all the fees, i.e. those of its own bank, those of the recipient’s bank, and the fees of other mediating banks, as applicable |
BEN | The recipient pays all the fees, i.e. the fees of its own bank, those of the mandator’s bank, and the fees of other mediating banks, as applicable |
Address
Raiffeisenbank a.s.
Olbrachtova 9
140 21 Prague 4
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