UNICREDIT TIRIAC BANK
TERMS & CONDITIONS
APPLICABLE TO CORRESPONDENT
BANKS
AS OF NOVEMBER 1ST, 2009
GTB – GLOBAL FINANCIAL INSTITUTIONS & CORRESPONDENT BANKING
2
2. IBAN – International Bank Account
IBAN includes the customer account number and the
relevant bank sort code and the standards have been
published in ISO Norm 13 616. IBAN is mandatory for
customer payments MT 103.
CONTENT
3.
EU
Payment
Services
Directive
(PSD)
No.
This terms and Conditions are applicable as of November
2007/64/CE
1st, 2009 and supersede all previous term and conditions.
The transposition of the Payment Services Directive
(PSD) no. 2007/64/CE into the local regulation took
place in Romania as of October 12, 2009.
Therefore, as of November 1st, 2009 UniCredit Tiriac
Bank SA (UCT) will be compliant in its home market
and will introduce the necessary changes to ensure
the aplication of the PSD requirements.
They might be altered with immediate effect without prior
notification. The Terms and Conditions for Correspondent
Banks
and
are
available
on
our
web
site
http://www.unicredit-tiriac.ro/about-us/correspondentbanks.
All
rates
mentioned
bellow
are
payable
by
our
correspondents, unless stated otherwise and should be
regarded as minimum rates.
Where necessary, charges expressed in EURO will be
converted into other foreign currencies at the UniCredit
Tiriac Bank’s rates of exchange.
UniCredit Tiriac Bank SA will aplly PSD terms only
to PSD payments i.e. to cross border payments
between banks located in EU plus Iceland, Norway,
Liechthenstein (EEA), in PSD currencies and
related to the type of payment services described
in the PSD no. 2007/64/ce and not to banks outside
EU (EEA) Area.
We reserve the right to charge our correspondents for
any transaction that require exceptional processing.
Documentary credits and Collection business are subject
the related Uniform Rules issued by the International
4. UCT PSD Policy Statement
Under PSD payments no charges will be deducted
from the principal amount irrespective of the charge
codes instructed.
Chamber of Commerce, Paris – currently in force.
UniCredit Tiriac Bank SA
Head Office
1F Expozitiei Blvd.
Bucharest 1, Romania
SWIFT : BACXROBU
REUTERS: UCRO
Web page:www.unicredit-tiriac.ro
1. Account services
Account maintenance
EUR 75 – per months
Debit Interest Rate: According to specific agreements
and market situation.
Credit Interest Rate: According to specific
agreements and market situation.
MT 950 statements/ month
EUR 25
The MT 950 Statements are automatically provided
whenever the an account entry occure.
Balance confirmation
EUR 60 (+ VAT)
Detailed Audit Report
EUR 100 (+ VAT)
Account closing
EUR 150
4.1. UniCredit Tiriac Bank SA as Ordering bank
As ordering bank UCT will ensure that all PSD
payments are released with charge code “SHA” and
not “BEN”.
If conversion implied, as Ordering bank, UCT may
release payments with charge code “OUR”.
4.2. UniCredit Tiriac Bank SA as Beneficiary bank
4.2.1.
PSD
Clean
Payments
(commercial
payments): MT 103 with charges code “BEN”
For PSD payments instructed with charge code “BEN”
where UCT is the Beneficiary bank, UCT will treat
such payments as they where “SHA” payments.
Free of Charge
4.2.2. PSD Clean Payments (commercial payments)
: MT 103 with charge code “OUR”
PSD payments instructed with charge code “OUR”
where UCT is the Beneficiary bank will be accepted
and request for charges our will be sent.
Up to EUR 100
Free
From EUR 100 to EUR 500
EUR 10
From EUR 500 to EUR 12,500
EUR 25
From EUR 12,501 to 50,000
EUR 35
3
From EUR 50,001 to 100,000
Above EUR 100,000
EUR 50
EUR 75
4.3 UniCredit Tiriac Bank SA as Intermediary bank
4.3.1. PSD Payment Transfers (commercial
transfers) MT 103
Charges “SHA”
Transfers to clients of other banks when UCT is the
intermendiary bank bearing charges SHA will be
subject to a Handling Fee of EUR 3,00.
Charges “BEN”
Transfers to clients of other banks when UCT is the
intermendiary bank bearing charges BEN will be
subject to a Handling Fee of EUR 3,00, if the ordering
bank accepts our charges to be deducted and the
commission option to be changed to SHA instead of
BEN in order to be PSD compliant.
4.3.2. Charge code “OUR”
PSD transfers with charge code “OUR” will be
accepted and request for charges “OUR” will be sent.
Up to EUR 100
Free
From EUR 100 to EUR 500
EUR 10
From EUR 500 to EUR 12,500
EUR 25
From EUR 12,501 to 50,000
EUR 35
From EUR 50,001 to 100,000
EUR 50
Above EUR 100,000
EUR 75
5. Clean payments out-side PSD Area where UCT
is Beneficiary/ Intermediary bank
5.1. Charges code “BEN” and/or “SHA”
- In favour of UCT clients
Free of charge
- In favour of other bank’s clients
EUR 20
(to be deducted from the transferred amount)
5.2. Charges code “OUR”
Up to EUR 100
Free
From EUR 100 to EUR 500
EUR 10
From EUR 500 to EUR 12,500
EUR 25
From EUR 12,501 to 50,000
EUR 35
From EUR 50,001 to 100,000
EUR 50
Above EUR 100,000
EUR 75
6. Other provisions
UniCredit Tiriac Bank SA will not honor claims for
commissions older than 6 months.
UniCredit Tiriac Bank SA will not honor claims for
“OUR” charges in excess of EUR 75 or equivalents.
7. Others charges in connection with payments
Investigations*:
- within 1 months
EUR 30
- over 1 months
EUR 50
Amendment:
EUR 30
Cancellation:
EUR 30
Returned:
EUR 30
Back valuation:
If payment not credited to beneficiary EUR 150 +
interest charges + charges of the third banks if the
case
If payment credited to beneficiary
EUR 200 +
interest charges charges the third banks if the case
8. Cancellation of payment orders
As a general rule, a payment order may be cancelled
or amended (exclusively in an authenticated SWIFT
message) only until it has not been credited or
adviced to a third party. Any cancellation or
amendment request received after that will be
handled on a best effort basis only, depending on the
co-operation and approval of the beneficiary.
9. CUT-OFF TIME for FCY
Incoming payment
Transfer with same day value
Transfer with next day value/spot
17:00 local time
10:00 local time
17:00 local time
10. Documentary Credits
We handle Documentary Credits in accordance with
the “Uniform Customs and Practice for Documentary
Credits” issued by the International Chamber of
Commerce, Paris and applicable at any time.
Pre-advising commission
Advising commission
Confirmation commission
Handling commission
Payment/
Negotiation of documents
under L/Cs payble at sight
Amendment commissions:
Increase of amount
Transfer to another
beneficiary
*
EUR 25
0.15% min. EUR 75
by arrangement
0.10% min. EUR 100
0.25% min. EUR 75
0.15% min. EUR 75
0.20% min. EUR 75
UniCredit Tiriac bank shall not pay interest for payments
under the bank’s investigation
4
Others
Discounting fee
Reibursement fee
Cancellation/Non-utilisation
of L/Cs
Remmitance of documents
without our obligation
Assignement of proceeds
Adivising of letter of assignment
EUR 25
by arrangement
EUR 25
EUR 50
EUR 75
0.15% min. EUR 75
EUR 50
11. Bank Guarantees
We handle Bank Guarantee in accordance with the
“Uniform Rules for demand Guarantees” issued by
the International Chamber of Commerce, Paris and
applicable at any time
“documents against payments”
Advising of clean/ documentary collection
0.15% min. EUR 75 max. EUR 1500
“documents against acceptance”
Payment
0.20% min. EUR 25 max. EUR 1500
13. Documentary Payment Orders
Issuance commission
0.20% min. EUR 50 max. EUR 2500
Amendment commission
EUR 25
Cancellation commission
EUR 50
Advising commission
0.25% min. EUR 50 max. EUR 5000
Received Guarantees
Checking authorized signatures
EUR 25
Advising commission
EUR 50
Advising amendment commission
EUR 25
Claims under L/Gs on behalf of our
clients
EUR 100
Issued Guarantees
Issuing commission for L/Gs/
by arrangement
Stand-by L/Cs adding the Aval
(payable up-front )
Increasing of amount and/or
by arrangement
Validity extension (payable up-front)
14. Miscellaneous
Checking authorized signatures
EUR 30 per item
Recommendation Reference Letters :
Standard
EUR 60
Including financial indicators
EUR 175
Other amendments
EUR 25
Payments under claim (*)
0.15% min. EUR 75
(*) - in case payment has to be effected in RON, at
NBR FX rate on payment date
0.25% min. EUR 100
Cancellation before issuing
EUR 25
Emergency issuance (24h)
EUR 25
For further specific information, please contact:
12. Documentary Collections
We handle Documentary collections in accordance
with the “Uniform Rules for Collections” issued by
the International Chamber of Commerce, Paris and
applicable at any time.
Remittance of clean collection
0.15% min. EUR 25 max. EUR 500
Remittance of documentary collection
0.15% min. EUR 50 max. EUR 500
Amendment commission
EUR 25
Payment instruments returned unpaid/
returned documents/remittance of documents
“free of payment”
EUR 50
Advising of clean/documentary collection
0.15% min. EUR 50 max. EUR 1500
We gladly provide various directories, constantly
updated:
Terms & Conditions for VOSTRO account
services
List of Correspondent Banks
Standard Settlement Instructions
Ms. Amira Ionascu
Head of GFI & CB
tel:
+ 4021 200 1748
fax:
+ 4021 200 1632
e-mail address: [email protected]
Mrs. Mihaela Rapcea
Senior Officer
tel:
+ 4021 200 1634
fax:
+ 4021 200 1632
e-mail address: [email protected]
Ms. Cristina Stefan
Officer
tel:
+ 4021 200 1633
fax:
+ 4021 200 1632
e-mail address: [email protected]