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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.
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.
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:
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.
When entering a foreign payment, the "Beneficiary's name" field is limited to 35 characters, and at the same time, internationally prohibited characters may not be used. We recommend using only alphanumeric characters without diacritics.
If the name of the recipient is longer than 35 characters, enter the remaining part of the name of the recipient in the field "Street" and then add the address after a comma.
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 May 31, 2021 all Outgoing Payments to Bahrain must include the purpose code of the payment. Detailed information, input method and codelist are available here.
Also Outgoing payments to India must now contain the code for the purpose of payment (Payment Purpose Code) and verbal description of the purpose of payment (in English) in the field Reason for payment/Purpose of payment/Message to Beneficiary. You will receive the payment purpose code from your business partner (payee) as part of the payment instructions or you can select it from a list. Without specifying the payment code, the recipient's bank may refuse the payment or there may be a delay in crediting the payment to the recipient's account.
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.
The United Kingdom has left the European Union on 1st February 2020. For a further 11 months, an agreement on a transitional period for membership of the European Economic Area (EEA) was in force.
As of 1st January 2021, the United Kingdom is no longer a member of the EEA and is not subject of REGULATION (EU) 2019/518 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL, which regulates cross-border payment charges in EUR within the EEA.
As a result, there has been a change in the fees for foreign payments from / to the United Kingdom in EUR. These fee is newly same as for standard foreign payments according to the valid price list of the relevant price program.
Raiffeisenbank will not make outgoing payments to the Russian Federation and Belarus from 15 February 2023 and has informed its customers about it. This decision applies to all payment and card transactions (regardless of the currency of the outgoing transaction). The decision was made on the basis of the designation of Russia as a high-risk third country by the Financial Analytical Service of the Czech Republic. Raiffeisenbank a.s. fully respects this position and limits its services in order to minimize risks for clients. We are aware of the implications of this decision for our clients and will continue to communicate with them and support them with services in accordance with the applicable laws and regulations of the regulatory authorities of the Czech Republic.
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:
|Beneficiary's account number (24 digits)
|Beneficiary's account name
|The name under which the account is maintained by Raiffeisenbank
|Street, city, postcode, country
|Name of the beneficiary's bank
|Raiffeisenbank a.s., Prague, Czech republic
|SWIFT address of the beneficiary's bank (BIC)