Charges applied to international payments, foreign exchange operations and bank guarantees

Transcription

1 Charges applied to international payments, foreign exchange operations and bank guarantees Charges valid as at September 202 International payments 2 2 Foreign exchange operations 7 3 Charges for outbound foreign payments indicating without costs for the beneficiary 7 4 Collection of cheques 8 5 Collection of clean bills and receipts 9 6 Guarantees 7 Expedition costs 2

2 Charges valid as at September 202 Charges valid as at September 202 Our charges are expressed in euros. Where payable, V.A.T. is specifically indicated. V.A.T. is calculated at the current rate (at present 2%) on total commissions and costs, unless ancillary to a credit operation, in which case no V.A.T. will be payable. Forward exchange operations are not liable to V.A.T.. International payments Definitions A European direct debit (SEPA) is an agreement between two parties (= a direct debit mandate) which allows the beneficiary of the claim (= creditor) to initiate the debit of the payer s account (= debtor). The execution of this type of payment meets the following characteristics: - The creditor s account and the debtor s account are in one of the countries defined in European transfers (SEPA). - The transfer amount must be denominated in euros. - The direct debit instruction must meet the STP criteria, namely it must indicate the IBAN and the BIC of the debtor s bank. A European transfer (SEPA) is a payment with the following characteristics: - Payment where both the principal s account and that of the beneficiary are in one of the 27 EU Member States (Austria, Belgium, Bulgaria, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungry, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, United Kingdom) or in Norway, Iceland, Switzerland or Liechtenstein. - The transfer amount must be denominated in euros. Other payments are called international payments. Payment execution deadlines: ING requires time to process payments and transmit payment instructions; ING transmits payments to clearing houses (e.g. EBA) or to our correspondent banks. Correspondent banks are banks abroad with which ING works to execute payments. Such foreign banks ensure that payments arrive at the beneficiary s bank via local clearing houses. The total time this requires is called the payment execution deadline. ING can only guarantee up to the clearing house or correspondent bank. The execution deadline depends on various parameters: the execution option chosen, the currency of the transaction, a possible currency conversion and the country of destination. Execution options for outgoing European and international payments: Standard payments: A payment without special conditions, possible for all available currencies where: - in the case of international payments the funds arrive at the correspond bank within 2 to 3 days. - in the case of European payments the funds arrive at the beneficiary s bank within 24 hours. Urgent payments: Accelerated execution of the payment, possible for all available currencies where: - in the case of international payments the funds arrive at the correspond bank within to 2 days. - in the case of European payments the funds arrive at the beneficiary s bank the same day. Same-Day Payments: A Same-Day payment is possible for all available currencies. The payment will be presented to the correspondent bank with the first possible value date. ING will apply a compensated value date, i.e. the debit value date will correspond to the date on which the correspondent bank is credited. Prio Payment: High priority payment. Such payments are only possible for payments in euros without currency conversion, with a compensated credit and debit value date. Furthermore, in the case of international payments, the funds are credited within the hour to the correspondent bank. Vale date: The value date is the date on which an amount withdrawn ceases to yield interest or that on which an amount deposited starts to yield interest. International Bank Account Number (IBAN): International standard for bank account numbers to be used for European credit transfers and, where appropriate, international payments. An IBAN consists of a maximum of 34 alphanumerical characters and a set length per country. It includes a country code (2 letters), a check digit (2 digits) and a domestic account number (completed for some countries). Bank Identifier Code (BIC): international code, also known as SWIFT address, which allows a unique identification of each bank. It includes 8 or alphanumerical characters and consists of a bank code (4 characters), a country code (2 letters), a place code (2 characters), and can be completed, for some banks, by a branch code (3 characters). Straight Through Processing (STP) : - In the case of European credit transfers: payment which indicates the correct account numbers (IBAN) of the payer and the payee, the BIC (Swift address) of the payee s bank. - In the case of international payments: payment which indicates the correct account numbers (IBAN, BBAN or other) of the payer and the payee, the BIC (Swift address) of the payee s bank, and the full name and address of the payee. 2 3

3 Charges valid as at September 202 Charges valid as at September 202 Cost instruction - BEN/SHA/OUR The payer can indicate how the costs are distributed. There are three options: - Shared Costs (SHA ): the payer pays the costs charged by his/her bank; the costs charged by the payee s bank are borne by the payee. - Our Costs (OUR borne by the payer): the payer pays the costs charged by his/her bank and the costs charged by the payee s bank. - Beneficiary Costs (BEN costs borne by the payee): the payer does not pay any costs. Both the costs charged by the payer s bank and the costs of the payee s bank are borne by the payee. In the case of European transfers and outbound international payments in a currency of the EEA and in the EEA, only SHA is accepted. If another instruction is given, it will automatically be changed to SHA. In the case of any other international payment, SHA, BEN or OUR can be chosen. What will you be charged for an outbound international payment? - With a SHA instruction: ING s payment commission (see point.) - With an OUR instruction: ING s payment commission + OUR costs (see points. and 3) - With a BEN instruction: no charges for the customer. ING automatically deducts the commission from the amount transferred. What will you be charged for an incoming international payment? - With a SHA instruction: ING s payment commission (see point.) - With an OUR instruction: no charges for ING customers (payees) - With a BEN instruction: ING s payment commission + the correspondent banks charges. Full amount principle: the full amount must be transferred to the payee s account. Any charges possibly applicable are debited by the bank separately. This principle applies to European credit transfers. The European Economic Area (EEA) includes the 27 Member States of the European Union as well as Norway, Iceland and Liechtenstein.. Charge for payments from and to other countries (including postage) Transfers to and from an account held in the EEA (including Belgium) in euros (SEPA), Swedish kronor and Romanian leis 0 Payments in euros outside the EEA or payments in other currencies: - Payment commission: 0.% (+ V.A.T.) of the amount Transfers to and from an account held in Belgium in another currency than the euro, Swedish kronor and Romanian leis (free between ING Belgium accounts): - Currency equivalent up to 50,000 euros - Currency equivalent above 50,000 euros.2 Additional charges for payments in favour of an account with another institution Faxes and manual processing of paper transfers by the bank: - in the EEA: in euros up to a maximum of 50,000 euros - in the EEA: in euros and above 50,000 euros - in the EEA: in foreign currencies - outside the EEA: in euros or foreign currencies Non-Straight-Through Payments (non STP) Urgent payments Same-Day payments (for international payments) Prio Payments (for European payments and international payments) Salary payment (Same Day) Payment return and rejection Payment file delivery Payment file return Payment file cancellation/withdrawal or amendment Payments by cheque issued by the bank - issue charge - expedition charge Lack of account funding Charges for outbound international payments quoting "without costs for the beneficiary" (see point 3) min. max The EEA currencies are the following: euro, Bulgarian lev, Czech koruna, Danish krone, Hungarian forint, Latvian lat, Lithuanian litas, Polish zloty, Romanian leu, Swedish krona, pound sterling, Swiss franc, Norwegian krone, Icelandic krona. This charge does not include the charge per operation (see the leaflets Charges applied to the main private banking operations and charges applied to the main banking operations carried out by legal entities (section )). 4 5

4 Charges valid as at September 202 Charges valid as at September Forward exchange transactions.3 Other supplementary charges Return of funds Cancellation, amendment, investigation (expedition charges, Swift, etc.) - operations of the last 2 months - older operations.4 Value date Foreign payments: value date = execution date Payments from abroad: value date = the day on which the account is credited When concluding the contract When the contract is extended - forward exchange commission Forward exchange contract with option at maturity - forward exchange commission: see above - flat fee per contract and any extensions of the amount min max Exchange rates The rate applied is based on the quotations in force on the international exchange market. 2 Exchange rates are available in Home'Bank, Self Bank and Telelink..6 European direct debit (SEPA)/Local Belgian direct debit (DOM80) Debtor - European direct debit / DOM80 - Unjustified request for refund - Request for a copy of a direct debit mandate Creditor - European direct debit / DOM80 - Refund requested within 8 weeks (of an authorised collection) - Refund requested of an unauthorised transaction - Confirmation of mandate activation (not for DOM80) - Paper deposits (only for DOM80) (with a min. of 2.48 per batch) (+5.00 per deposit) 3. Charges for outbound international payments quoting "without costs for the beneficiary" (OUR) Aruba, Belgium, Bonaire, Curacao, Denmark, Finland, Iceland, Ireland, Morocco, Portugal, Sabah, Saint Eustatius, Saint Martin 2, Suriname, Sweden, United States Andorra, Australia, Austria, Bosnia and Herzegovina, Bulgaria, Canada, China, Croatia, Egypt, France, Germany, Greece, Hong Kong, Hungary, Italy, Jordan, Lebanon, Luxembourg, Malaysia, Mauritius, Namibia, Netherlands, New Zealand, Norway, Peru, Philippines, Poland, Russia, Serbia, Slovenia, Spain, Switzerland, Ukraine, Vietnam, Yemen Albania, Angola, Belorussia, Botswana, Brazil, Burundi, Cyprus, Czech Republic, Estonia, Great Britain, Guernsey, India, Indonesia, Isle of Man, Israel, Ivory Coast, Jamaica, Jersey, Latvia, Liechtenstein, Lithuania, Macedonia, Malta, Montenegro, Mozambique, Oman, Pakistan, Reunion, Romania, San Marino, Singapore, Slovakia, South Africa, South Korea, Sri Lanka, Taiwan, Tanzania, Thailand, Tunisia, Turkey, United Arab Emirates, Uruguay Afghanistan, Algeria, Anguilla, Argentina, Armenia, Bahamas, Bahrain, Barbados, Bermuda, Brunei, Cameroon, Cayman Islands, Chad, Chile, Ecuador, Gabon, Ghana, Guinea, Japan, Kazakhstan, Kenya, Kuwait, Macau, Madagascar, Maldives, Moldavia, Monaco, Nepal, New Caledonia, Nigeria, Paraguay, Puerto Rico, Qatar, Saint Kitts and Nevis, Saudi Arabia, Senegal, Swaziland, Trinidad and Tobago, Turks and Caicos Islands, Uganda, Zambia and the rest of the world (Variable) foreign correspondent charges not included. 2 The exchange margin differs according to the currency. In the case of European credit transfers and outbound international payments in a currency of the EEA and in the EEA zone, only SHA is accepted. If another instruction is given, it will automatically be changed to SHA. 2 The Dutch part. 3 Payments to the following countries are not accepted: Syria, Iran, Cuba, North Korea, Myanmar and Sudan. 6 7

5 Charges valid as at September 202 Charges valid as at September Collection of cheques 4. Imports of the amount Cheques issued by an ING customer to pay a foreign creditor Payment commission Processing fee, per cheque 4.2 Exports of the amount Cheques payable abroad or by debiting a foreign account received in settlement of payment by an ING customer and presented for collection Payment commission Processing fee, per cheque Expedition costs, per cheque 2 Dispatch charges Except for Traveller s cheques: see Charges applied to the main banking operations of private individuals brochure. min. max min. max min the charge varies according to the country and the correspondent 5. Collection of clean bills and receipts 5. Imports of the amount Bills drawn by a foreign creditor When presented for collection, the foreign creditor will, in principle, pay the collection costs, unless it is stipulated that costs are to be borne by the counterpart in Belgium. Presentation for payment - collection commission: - bills domiciled with a bank, per bill or receipt - bills not domiciled with a bank, per bill or receipt - Payment commission - amendment commission, per amendment Presentation for acceptance or regularisation, per bill Returned before presentation - collection commission, per bill Remittance free of payment, per bill Bills - unpaid: collection commission (see above) + protest costs if any - not accepted or not regularised: presentation fee (see above) + protest costs if any - cancellation of protest Expedition costs, per bill.25 min max min max. min. max Costs borne by the ING customer. 2 See also point 7. Expedition charges - Message service. See also point 7. Expedition charges - Message service 8 9

6 Charges valid as at September 202 Charges valid as at September Exports of the amount Bills drawn on foreign debtor and presented for collection by ING customer Presentation for payment, acceptance and/or regularisation - collection commission, per bill - Payment commission - additional tracer, per enquiry - amendment commission, per amendment - correspondent bank costs: variable according to country and correspondent - returned before presentation: collection commission, per bill Remittance free of payment - per bill - correspondent bank costs: variable according to country and correspondent Expedition costs, per bill min max min. max Guarantees 6. Guarantees instructed by an ING customer of the amount Guarantees issued by order of an ING customer for the purpose of a credit facility Guarantee commission, per quarter File opening fee Fee for amending or extending Fee for calling on the guarantee Guarantees issued by order of an ING customer for the purpose of an individual transaction Guarantee commission, per quarter File opening fee Fee for amending or extending Fee for calling on the guarantee Observation: Urgent applications (to be executed within 24h): double charges Customised applications: specific charges, for more information, please ask your usual ING contact. min. 5 min. 5 min min Guarantees in favour of an ING customer of the amount Guarantee issued by order of a foreign bank in favour of an ING customer, if stipulated that the costs are to be borne by the beneficiary Guarantee commission, per quarter - up to 25,000 euros - more than 25,000 euros File opening fee Fee for amending or extending Fee for calling on the guarantee Guarantee issued in the absence of a bill of lading by order of a foreign bank in favour of an ING customer, if stipulated that the costs are to be borne by the beneficiary Guarantee commission, per quarter min min Min. min min Min See also point 7. Expedition charges - Message service. Expedition charges to be added, see point 7. 0

7 Charges valid as at September 202 Charges valid as at September 202 Advising of a guarantee issued by a foreign bank (without guarantee or liability on the part of ING), if stipulated that the costs are borne by the beneficiary Advising charges Amendment charges Notes 7. Expedition charges Extra SWIFT Ordinary mail - Europe - outside Europe Registered mail without documents Registered mail with documents - Belgium - Europe - outside Europe Message service - Belgium - Europe - outside Europe Fax message Unless specified otherwise in the above items. 2 3

8 Other lists of charges and brochures are available: Charges applied to the main banking operations of private individuals Charges applied to the main banking operations of legal entities Charges applied to securities transactions Charges applied to documentary credits and documentary collections These charges are not binding. As dealings between the Bank and its customers are based on mutual trust, ING always reserves the right not to commit itself. 2. ING reserves the right to modify its charges in compliance with the legal and statutory provisions in force. In the event of any change to these charges, a new brochure will be published. Please ensure you have the most recent brochure. 3. The charges listed in the leaflets are basic charges. They may be derogated from by a special agreement concluded between ING and you in the case of major transactions or in the event of special situations. Supplementary and/or personalised information - in particular on credit - is available from any branch. ING Belgium SA/nv Bank avenue Marnix 24, B-000 Brussels Brussels RPM/RPR VAT: BE BIC: BBRUBEBB IBAN: BE Publisher: Inge Ampe cours Saint-Michel 60, B-040 Brussels Z4587E 07/2 Editing Team & Graphic Studio - Marketing ING Belgium.