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Foreign Payment Operations in Direct Banking of Unicredit Bank Czech Republic and Slovakia, A.S

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Foreign Payment Operations in Direct Banking of Unicredit Bank Czech Republic and Slovakia, A.S Foreign Payment Operations in Direct Banking of UniCredit Bank Czech Republic and Slovakia, a.s. BusinessNet User Handbook April 2015 2 3 INTRODUCTION Dear Client Foreign payment operations have developed into a theme perceived as an integral element of the financial life of every company. This Handbook you have just opened is meant to assist you in understanding various types of foreign payments and navigate you at executing them flawlessly in the BusinessNet application you have been using for electronic communication with UniCredit Bank. Due to the developing business and globalisation, the amount of payment transactions has been ever increasing all around the world and, in that number, in Europe and the Czech Republic. The growing quantities of transactions place distinctly higher demands on the institutions processing such transactions. The institutions have to concentrate on standardisation, accuracy, speed and, last but not least, fully automated processing. The European Union has been actively promoting improved standardisation of the payment operations. The Member States and banks operating in them must meet multiple requirements imposed, inter alia, by the European Commission and national legislations. Rules have been set up in Europe on assignment of unique international bank account numbers (IBAN) and common rules introduced of debiting fees for payments within the EU and EEA. Another step towards standardisation is represented by the SEPA payments and SEPA direct debit. All that inevitably brings also increased demands on the correctness of payment orders that you - our clients - submit for processing to our bank. We believe that this Handbook will make their right preparation easier for you and, as such, will become your helpful companion. UniCredit Bank Czech Republic and Slovakia, a.s. 4 5 SUMMARY OF ILLUSTRATIVE TRANSACTIONS Transaction type Page 1. Cross-border payment within the EU and EEA - Europayment 10 Payments in EUR up to EUR 50,000 2. Foreign payment within the EU and EEA Payments in EUR over EUR 50,000 14 Payments in other currencies 3. SEPA payment 18 Payments in EUR in the countries / at banks supporting SEPA payment processing 4. Foreign payment outside the EU and EEA 22 Option 1 - BIC of the beneficiary's bank known 5. Foreign payment outside the EU and EEA 26 Option 2 - BIC of the beneficiary's bank unknown 6. Foreign payment outside the EU and EEA 28 Option 3 - payment to the Russian Federation in Russian rubles (RUB) 7. "Foreign payment" within the Czech Republic Payment in a foreign currency from the client's account maintained in CZK 30 Payment in CZK from the client's account maintained in a foreign currency 8. Conversion/Foreign currency transfer on own account with UniCredit Bank Option 1 - User rights for both the payer account and beneficiary account 34 Transfer of funds from an account in one currency to account in another currency Transfer of funds between accounts maintained in a foreign currency 9. Conversion/Foreign currency transfer on own account with UniCredit Bank Option 2 - User rights only for the payer account 36 Transfer of funds from an account in one currency to account in another currency Transfer of funds between accounts maintained in a foreign currency 10. Foreign transactions in RenMinBi Clean payments to China 40 Clean payments outside China 11. SEPA Direct Debit outgoing 42 Direct Debit order in EUR, within countries/banks supporting SEPA B2B Direct Debit 12. SEPA Direct Debit authorisation 46 Authorisation of execution for SEPA CORE and B2B Direct Debit 6 BASIC TERMS USED AT FOREIGN PAYMENT OPERATIONS Foreign • Any payment is considered a foreign payment, providing it meets any (even one) of the payment following requisites: o The payer or beneficiary account is maintained in a foreign currency o The payer or beneficiary account is maintained in abroad o The payment is executed in a foreign currency EU • Any payment in EUR made within the EU and EEA up to EUR 50,000 is processed as a Cross-border Europayment (a cross-border payment) providing it meets all of the following requisites: Payment o The beneficiary's IBAN has been entered correctly (Europayment) o The beneficiary's bank BIC has been entered correctly o Fees are managed using the SHA option o The NON-STP instruction (see below) is not requested for processing SEPA payment • Any payment in EUR made within the SEPA states is processed as a SEPA payment, providing it meets all of the following requisites: o The form designated for SEPA payments has been filled out correctly o Fees are managed using the SHA option o The beneficiary's IBAN has been entered correctly, and o The beneficiary's bank BIC has been entered correctly (the beneficiary's bank must be able to accept SEPA payments) SEPA • A SEPA payment in EUR, initiated by the beneficiary and executed solely between the accounts Direct Debit maintained in EUR by the banks supporting the service BBAN = Basic Bank Account Number • Account number used by the banks locally in respective countries • It remains valid alongside the IBAN • In the Czech Republic, for example, it may consist of 6 digits (account prefix) + 10 digits (account number/4 digits (bank code) IBAN = International Bank Account Number • An account number format set down by the EBS204 standard published by the ECBS (European Committee for Banking Standards) • It enables unambiguous identification of an account with the respective financial institution in respective country • Contains complete information on the account number, bank code and country • Using the IBAN format of the account number is mandatory at the cross-border transfers within the EU Member States and European Economic Area (the latter encompassing all EU states plus Iceland, Lichtenstein and Norway) IBAN structure (up to 34 characters, analysed as follows): • 2 characters - country code • 2 characters - check digit - enables programmed confirmation of the number, serves as a protection against erroneously entered account numbers (due to e.g. typing errors) • Max. 30 characters - bank code and account number within the bank Example of IBAN for the Czech Republic (has always 24 characters): • Local bank account (BBAN): 19-2000145399/2700 • IBAN - written form: CZ95 2700 0000 1920 0014 5399 • IBAN - electronic format: CZ9527000000192000145399 Note: You will find your account IBAN in the documentary statement of your account, e.g. upon clicking at the menu "Finances / Accounts in the account detail". 7 BIC = Bank Identifier Code / international code of the bank • Valid SWIFT code of the bank • 8 – 11 characters • For example BACXCZPP (UniCredit Bank Czech Republic and Slovakia, a.s.) ABA = American Bankers Association routing number / Bank ID in USA • Code issued to a Financial institution in USA eligible to maintain an account at a Federal Reserve Bank • Also called „check routing number“, „ABA number“ or „routing transit number (RTN)“ • The code may vary for different accounts within one bank (depends on time when the account has been opened) • 9 digits BEI = Business Entity Identifier / international code of the entity • A code assigned to a non-financial entity by the registration authority • It has a format identical with the valid SWIFT code of the bank • 8 – 11 characters SEPA = Single Euro Payment Area • A single area for payments in euros within which payments are executed under the identical conditions and rights • Separate banks join the initiative voluntarily, however, as indicated by the market developments, separate states are likely to transit to the SEPA single system from their national payment systems in future SWIFT = Abbreviation for the Society For Worldwide Interbank Financial Telecommunication • A provider of a private computer network serving for standardised communication between financial institutions • Each terminal has its SWIFT address, i.e. BIC or BEI Payment title = A facultative description of the payment purpose Cut off Time = A deadline for submitting the payment instruction to the bank • A foreign payment order is processed by the bank on the same business day, providing it has been (duly certified and) delivered to the bank server by 15:00 at the latest STP = Straight Through Processing = processing without any action by the operator • Correctly and completely filled out payment orders, without special processing requests, are processed as the STP payments - as a touch-free procedure • A worldwide trend, already applied also in the Czech Republic, is represented by charging an extra fee for the NON-STP payments, i.e. o For payment orders submitted on a paper-based medium, or o Incorrectly or incompletely filled out electronic payment orders o For correctly and completely filled out payment orders with a special processing request that triggers NON-STP processing o In cases where OUR or BEN fees are applied to non-conversion payments in the EEA (European Economic Area) currencies within the EEA Expenses • SHA = shared; fees requested by the payer's bank are settled by the payer, fees requested by the beneficiary's bank are settled by the beneficiary • BEN = beneficiary; all fees to be paid by the beneficiary • OUR= all fees to be paid by the payer Important note: Any non-conversion payments in the EEA (European Economic Area) currencies will be processed as STP on the condition that the SHA has been set out for the fees management. If the designation is BEN or OUR, respective payments will be processed with debiting for the NON-STP extra fee. Recommendation: Adjust your business partner database (select "Payments > Beneficiary list > Foreign") in the BusinessNet system or in the accounting application (if performing data transfers directly from accounting), so that it contains correct and complete information on the beneficiaries of the payments. 8 Code words • Where a special mode of processing is requested (such as a prearranged rate), a relevant code word must be entered in the payment order in the "Special Instructions For Bank" field of the order (for Standard Foreign, EU Cross-border and SEPA Payments).
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