Bank Transfer

Types of Bank Transfers

A bank transfer can be accomplished via Internet banking or via completing a form of „a payment order“ in the bank.

  • domestic bank transfers
  • transfers within EU: it is a form of cross border transfer since the 1. of July 2003, and interbank transfer within EU. It is the simpliest transfer within member countries of Eurozone.
  • SEPA – Single Euro Payments Area (United space for payments in euros). The implementacion of SEPA allows the realisation of the transfers from the bank account or credit card within the eurozone as easy and cheap as by the domestic payment.
  • International transfers outside the EU

What does the Payment order have to include?

Following needs to be completed in the payment order:

  • account number and bank code of the beneficiary
  • account number and bank code of the customer (by the cashless transfers)
  • beneficiary´s name (or address)
  • customer´s name (or address)
  • amount of money for payment
  • variable, constant or specific symbol
  • by the international transfers IBAN (International Bank Account Number), Swift-code (Society of Worldwide Interbank Financial Telecommunication) or BIC (Bank Identifier Code) instead of account number or bank code.

How long does the the bank transfer take?

The bank transfer can take even less than 1 day or more than 4 days. Everything depends on which day we submit the payment order, eventually it can take much longer in case of international payment order.

Bank transfer fees

Fees at domestic, transboudary and international bank transfers are set individually by the bank itself.

Bank transfer transaction limits

There are not stated any limits at domestic transfers, but transboudary and international transfers can not be over 50 000 EUR. International transfer, which is over 12 500 EUR, subjects to the reporting requirement for tax reasons.

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