PAYMENT SERVICES

Domestic payments

In domestic payments, we offer processing of incoming and outgoing payments in Czech Crowns within the Czech Republic.

You can send money from your account to any account conveniently, easily and promptly. For recurring payments, you can set up a standing payment order.

• Payment order - lets you pay utility and other bills or make other payments from your account. For regular payments, you may place a standing payment order. Batch payment orders are available too.
• Direct debit order - lets you collect funds in favour of your current account from any other current account; the current account from which funds should be collected must be set up to authorize direct debits to your account.
• Direct debit mandate - based on your approval, a payment to the credit of a particular beneficiary may be debited from your current account.
• SIPO - mandate given to the Czech Post (Česká pošta, s.p.) to collect monthly SIPO bulk payments (residents' payments) from your current account.
• Express domestic interbank payment - funds are transferred to the credit of the beneficiary's current account the same day when the payer's account is debited.
• Intelligent savings - the service lets you pre-set an amount to keep in your account and automatically transfer all funds in excess of such amount to your savings account.

Technical Conditions

Information on Payment Systems Time Limits

Payment Order

Foreign payments

In foreign payments, we offer processing of incoming and outgoing payments in foreign currencies to or from foreign countries and within the Czech Republic. Also, payments in Czech crowns to or from foreign countries are considered foreign payments.

The order for placing a foreign payment is automatically activated in the menu of your account when opened. Also, you may send a foreign payment in person at any branch office of our bank.

Placing an outgoing payment

The mandatory requisites of a payment order as well as other conditions applicable to outgoing foreign payments are stated in the Technical Conditions for Payments. You may place a payment order:

• electronically
• in person at any branch office

The condition for realization of a payment is that you complete all the prescribed fields of the payment order Foreign Payment Order and that your account shows sufficient funds.

For cross-border payments made within the Member States of the European Union and the European Economic Area, you must enter the BIC of the beneficiary's bank and the beneficiary's account number in the IBAN format. If failing to enter this information, you may be charged for additional expenses associated with finding and completing the required data for smooth processing of your payment.

From September 1, 2018 all Outgoing Payments to the United Arab Emirates must include the purpose code of the payment.  Detailed information, input method and code list are available here.

From January 1, 2019 all outgoing payments to Israel must include a valid IBAN account format of the beneficiary.Missing IBAN account format of the beneficiary can lead in an extension of the deadline for crediting of payment to the beneficiary or non-execution and return of the payment, which can result in posting of additional charges of payee’s and payer’s banks.

Incoming foreign payments

All incoming foreign payments received within the cut-off times for the processing of foreign payments are credited on the day when the payment is received (i.e. D+0). The condition for crediting a payment to your account is that your business partner enters the correct bank details; thus, an incoming payment order from abroad must contain the following information:

Benefits

• prompt processing of payment orders
• clear and easy placement of payment instructions
• payments placed anywhere and anytime, electronically or in person
• payment processing through the SWIFT international telecommunications network, guarantee of secure, fast and reliable data transfers between
  financial institutions all over the world
• discounts on selected types of payments
• Europayments
• SEPA payments
• payments within the Raiffeisen Group in selected accounts

Owners of accounts with multiple currency folders enjoy the following extra benefits

• multiple currencies can be activated and maintained under one account number
• payments in multiple currencies can be sent or received after activating the particular currency folder
• payments are not subject to automated conversion
• any changes to a payment order until the moment of processing the payment
• information about realized or (failed) payment sent by email, SMS or fax
• individual order templates for recurring payments

Technical Conditions

Information on Payment Systems Time Limits

Foreign Payment Order

European Economic Area Countries

Tatrapayments Promotion Rules

Intragroup Payments Promotion Rules

The list of Intragroup banks

Purpose of payment to UAE

Outgoing payments to UAE