Payments to Abroad

Komercijalna Banka shall process payment orders for execution of payment to the beneficiary in the EU member country, in the amount of up to EUR 50.000,00 received by the time anticipated for order receipt, on the same day, while all the other orders shall be processed within 24 hours from their receipt, by issuing the order to the correspondent bank abroad, and shall inform the order issuer on the payment executed by delivery of the SWIFT message.

The correspondent bank shall strive to execute the fund transfer to the beneficiary’s bank in the currency stated in the SWIFT message, possibly with the currency + one day from the date of the currency stated in the SWIFT message.

- Payment by remittance
- Payment by cheque
- Payment by collection endorsement
- Payment by documentary credit

 

 

Payment by remittance


•    Komercijalna Banka executes payment and transfers per current and capital foreign operations in compliance with the Law on Foreign Exchange Operations, and the accompanying bylaws, with the application of the international regulations and standards. Wide network of foreign correspondents enables the efficient execution of orders with minimal costs. Orders delivered by 12.00 hours are executed on the same day, and all others within 24 hours from the time of receipt. Having in mind the wide network of Komrecijalna Banka sub-branches, you can deliver your order in any town or city in the country, and it shall be executed in the same time period.

•    You can deliver your payment order in electronic form;

•    List of documents required for payments abroad:

  1. Payment order  
  2. Instruction for completing the order  
  3. Copy of invoice, pro-forma invoice, JCI or agreement        

 
Payment by cheque (nostro cheque)

The client is obliged to deliver accurately completed payment order for payment by (obr.70, download the order) in accordance with the Decision on Terms and Conditions and Manner on the Execution of Payment Operations Abroad and the Instruction on Implementation of the Decision on Terms and Conditions and Manner on the Execution of Payment Operations Abroad, as well a the accompanying documentation stipulated by the law. Komercijalna Banka can issue cheques in USD of CITIBANK issue, NY and in EUR COMMERZBANK AG, F/M issue.

Payment by collection endorsement

- Komercijalna Banka carries out the receipt of the collection documents from abroad, informs the client on receipt of the respective documents and acts in accordance with the collection endorsement instruction.
- It delivers the documents upon executed payment or with the acceptance order.

Payments by documentary credit (nostro letter of credit, import operation)

Komercijalna Banka performs issue of all types of documentary credits per order of its clients via its correspondent network. It executes payments in compliance with the terms and conditions of the letter of credit.
- The Bank performs preliminary consultations with the client before submission of the order for issue of the letter of credit.
Required documents:
- Request for the letter of credit issue delivered on the client’s memo
- Completed order for issue of the letter of credit
- Agreement of the pro-forma invoice.