Terms and conditions of international settlements for individuals.
Please note significant changes in connection with PSD requirements starting from 22.05.2010, concerning payments in EUR and EU/EEA currencies. Payments with option OUR is only possible in cases of payments outside EU/EEA countries.
Please also note that the term of presentation of claims has been increased to 13 months starting from the transaction date.
The following conditions are necessary for the international payment:
- clients account with the Tallinn Business Bank
- sufficient balance on clients account
- presentation of a payment order, with all the necessary details and requisites, either on paper or using electronic banking facilities (Internet Bank)
TERMS OF INTERNATIONAL PAYMENT
- Ordinary payment order. In EUR, DKK, GBP, SEK, LTL, LVL, CHF and NOK to be presented round the clock. Bank executes the payment according formula T+1, where T is the date when amount is debited from clients account. Payment orders in other currencies to be presented round the clock. Bank executes these payments according formula T+2, where T is the date when amount is debited from clients account.
- Urgent payment order. In EUR, DKK, GBP, SEK, LTL, LVL, CHF and NOK to be presented until 13:00 local time. Bank executes these payments according formula T+0, where T is the date when amount is debited from clients account. Payment orders in other currencies be presented round the clock. Bank executes the payment according formula T+1.
- Express payment order. In EUR, LVL, LTL to be presented until 14-30 local time. Bank executes the payment according formula T+0. In USD payment orders to be presented until 13-00 local time. Bank executes these payments according formula T+0.
CHARGES FOR FOREIGN PAYMENTS
Charges paid by “Beneficiary”. That remark on a foreign payment order means that beneficiary of the payment meets all expenses of the banks related with the payment. The charge for foreign payment collected by Tallinn Business Bank is deducted out of the payment amount and the payment amount decreased by the charge amount is transferred into Beneficiarys bank account.
Remitter shall not pay any charge, if the foreign payment order has the remark “Charges Paid by Beneficiary”.
Shared payment. In case of that charge payment Remitter is charged for carrying out foreign payment by Tallinn Business Bank and Beneficiary is charged for other related services provided by correspondent bank/banks and Beneficiarys bank. The payment amount decreased by the charge amounts is transferred into Beneficiarys account.
Charges paid by “Remitter”. In case of that charge payment Remitter is charged both for carrying out foreign payment by Tallinn Business Bank and related services provided by foreign banks. The payment amount in full is transferred into Beneficiarys account.
In case you have questions, do not hesitate to call ph.: (+372) 66 88 031 or 66 880 34