Currency Guide
CZK – Czech Koruna
Overview The payment processing of this currency is considered to be highly standardised.
Currency Guidelines A clear reason / purpose of payment is recommended and consists of a full written description (in English) of the nature of payment to be provided in the remittance information. For example: providing an invoice number without guiding text is considered as insufficient and can result in errors or delays.
Example: Payment of travel expenses – invoice n° 123456789
Payments in CZK toward The Czech Republic Besides the standard information, the IBAN format is mandatory.
In the case where structured remittance information is to be passed, it is important to note that this can be either one of the following, or a combination of: • Variable code (1-10 digits) e.g. /VS/xxxxx • Constant code (1-4 digits) e.g. /KS/xxxxx • Specific code (1-10 digits) e.g. /SS/xxxxx
These codes shall be provided by the beneficiary.
Payments in CZK outside the Czech Republic Standard information In some countries the IBAN format is mandatory (see appendix VI) and/or specific local regulations are applicable.
Payment formatting Information of the beneficiary
DATA NAME PRESENCE MT101 TAG XML V3 TAG MANDATORY
Remittance information
DATA NAME PRESENCE MT101 TAG XML V3 TAG
REASON / PURPOSE OF RECOMMENDED 70
September 2015 67 Currency Guide
Additional information
• Available charge options: OUR/SHA/BEN In principle, for payments subject to the Payment Services Directive (PSD) and without currency conversion, only shared charges are allowed. • Central bank of the Czech Republic: https://www.cnb.cz/en/index.html CZK – Czech Koruna CZK – Czech Koruna CZK – Czech
68 September 2015