Inward Payments

In your line of business you may receive payments from both local and overseas business partners, in local and other currencies.

In the circumstances, the success of your business will depend on how timely these payments are credited to your account.

• Payments can be received in euro and other currencies
• You are paid on the day specified in the payment instructions (if payment is technically correct)
• Payments are received via S.W.I.F.T., a secure network with worldwide reach
• Payment types:
  – Urgent / Same day value - where you are paid on the same day that payment is received
  – Spot value, a standard time frame - where you are paid 2 working days later (except in the case of weekends and holidays)
  – SEPA - non-urgent payments - where we will credit your account on the day of receipt of payment instructions.

SEPA payment characteristics:

• Currency must be EUR
• The BIC (SWIFT Code) MMEBMTMT must be present
• Your IBAN (International Bank Account Number) must be present
• Remitter is located in an EU member state
• Non-urgent - value date not specified
• You and the Remitter pay your own charges i.e. charges 'SHA' (shared)