FX transactions
FX transactions and international payments
Current accounts and correspondents
Deadline and terms
Time schedule
Cash payment
Payment of foreign cash can be done based on:
Charging for the sale of goods and services rendered on Kosovo and Metohija with the following documentation:
- Authorization signed by a person authorised for selling foreign currencies to the National Bank of Serbia and directing the dinar equivalent to the client's current account,
- Copies of an invoice or pro forma invoice
Returning a part of advance payment for a business trip abroad (final business trip calculation) with the following documentation:
- Request for the return of foreign cash on the foreign currency account of a legal entity and instructions for directing dinar equivalent if the client wishes to sell the foreign currency to the Bank,
- Final calculation of a business trip abroad.
By providing services to natural persons in international goods and passenger transport, duty free shops, toll collection and delivery of fuel by foreign planes and ships, and in accordance with relevant legal regulations.
Cash collection
Payment of foreign cash at the Bank's branches can be done based on an advance payment for a business trip abroad.
Required documents for residents:
- Request for advance payment for a business trip signed by an authorised person,
- Copy of a business trip order.
Required documents for non-residents:
- Request for advance payment for a business trip signed by an authorised person.
International payments
The banks performs international payments via nostro remittances, by using SWIFT technology and an international account.
Nostro remittances are the safest and most efficient way of transferring foreign currency abroad.
If you wish to make an international payment, you need to submit the following documents to the Bank:
- International payment order,
- Copy of an invoice, pro forma invoice, agreement or other relevant document showing the obligation of an international payment, and in case of a loan transaction, a copy of the relevant loan application.
International collection
International collection of foreign currency is done via loro remittances – the safest and most efficient instrument of international payment transactions for inflow of funds.
If you expect a foreign currency inflow from abroad, and for the purpose of quick and accurate direction of the foreign currency inflow to your foreign currency account, you need to ask for relevant payment instructions at your branch according to the currency and country of collection, which you will deliver to your international partner or you can enter it into your invoices, pro forma invoices, as well as foreign trade agreements.
Collection of international cheques
If your international partners do not wish to make the payment using a loro remittance (bank transfer), but instead pay for goods exported or service rendered by international cheques, you can submit these cheques at any Banca Intesa window in the country.
Cheques will be forwarded abroad for collection as soon as possible via a wide network of current accounts.
Upon receiving coverage, you will be informed of this on the same day or the following day, and the funds will be approved on your foreign currency account as soon as you provide the Bank with the inflow schedule.
Purchase and sale of cash funds
Sale of cash funds in foreign currencies from the Bank's potential
The Bank offers the sale of cash funds in foreign currencies to all clients, at most favourable market terms. When buying cash funds in foreign currency from the bank, the client must submit a Request for purchasing cash funds in foreign currency, based on which the Bank's authorised dealer sets the price and makes a calculation with payment instructions, which is delivered by e-mail or fax (depending on the client's instructions) as soon as possible, in order for the client to be able to perform their obligations as efficiently as possible.
The request for purchasing cash funds in foreign currency must contain the currency type, amount, purpose of payment, and/or purpose of purchase, as well as a signature and seal of the person authorised to dispose of the applicant's funds.
Apart from the above, if the purchased cash funds in foreign currency are used to make a certain international payment, the client needs to state whether they need a SWIFT copy (confirmation that the payment was made).
The Bank offers the option of selling cash funds in foreign currency to all its clients, via a special electronic banking solution, whose installation only requires the user to have an internet connection.
Purchase of cash funds from the clients foreign currency current account
The Bank offer the purchase of cash funds from a foreign currency current account in the client's foreign currency at favourable market terms. When buying cash funds in foreign currency, the client needs to submit a request for the sale of cash funds. The Bank transfers cash funds in dinars to the client's payment account as soon as possible.
The request for the sale of cash funds in foreign currency must contain the amount thereof in the currency being sold, the number of the payment account at Banca Intesa to which the dinar equivalent of the sold cash funds in foreign currency is paid, and the signature of the authorised person from the specimen signature card kept by the Bank, with the appropriate seal which was presented when opening the foreign currency current account.
The Bank offers the option of selling cash funds in foreign currency to all its clients, via a special electronic banking solution, whose installation only requires the user to have an internet connection.
Foreign currency conversion
- We enable conversion of foreign currency at favourable market terms, without commission, in accordance with the exchange rate list of Banca Intesa and current events on international financial markets.
- Timed purchase and sale of foreign currency (Forward)
Time schedule of payment orders
T – (today) – business day when the order is received
Execution within the stated period entails the legality of the received order, documentation based on which the payment is made if it is prescribed, i.e. if the client does not have a concluded agreement on the execution of an international payment order without providing documentation, as well as the secured remittance execution coverage.
The „execution date“ as stated in the tables, is the date when the Bank sent an authenticated SWIFT message by which it orders the correspondence bank to forward the funds to the bank of the recipient of funds in accordance with its time schedule, i.e. in case of transactions at the Bank, the date when it approved the payment recipient's account. The „expected payment recipient account approval date“ is the date on which it is expected that the bank of the payment recipient, if different from the Bank, will approve the payment recipient's account, and which does not depend on the Bank and is determined by the contractual relationship between such bank and the payment recipient.
The Bank undertakes to process the properly filled out payment order for the beneficiary in a European Union member state, in the amount of up to EUR 50,000.00, submitted during the day until 1 PM, on the same day by sending an order to the correspondence bank abroad, and to process the orders received after such time on the next working day.
The Bank maintains the right to deviate from the said periods in emergencies. An emergency is considered to be any reason of force majeure due to which the Bank is not technically able to process the submitted properly filled out order. In case of delay in executing the properly filled out order due to an emergency, interest or any other form of compensation shall not be paid.
The user of payment services is obliged to monitor potential changes in the Time Schedule at the Bank's branches, and/or on the Bank's website.
