Tariffs and Conditions
The present translation is furnished for the customer’s convenience only. The original German text of the Tariffs and
Conditions is binding in all respects. In the event of any divergence between the English and the German texts, constructions,
meanings, or interpretations, the German text, construction, meaning or interpretation shall govern exclusively.
General Conditions Applicable to the Tariffs and
Conditions
These Tariffs and Conditions are subject to the General
Terms and Conditions of ING Bank, a Branch of ING-DiBa
AG (referred to as “ING Bank”), to the specific terms and
conditions for other banking services, and to the following
additional terms and conditions:
 Unless explicitly otherwise state, all prices are quoted in
Euro and net of VAT.
 The Tariffs and Conditions refer only to the services of
ING Bank and related charges. Charges of other payment
service providers (in particular charges of correspondent
banks) are not included and, where applicable, shall be
invoiced separately to the customer.
 We reserve the right to regularly review our Tariffs and
Conditions and, where appropriate, to make adjustments
to them, in particular
 in the event of changes to the legal or regulatory
environment with a corresponding impact on our cost
or fee structure,
 where there are changes to market conditions with a
corresponding impact on our services (e.g. interest
rates).
 The Tariffs and Conditions shall be deemed valid for one
calendar year after entering a business relationship. We
specifically reserve the right of early modification of our
Tariffs and Conditions
 when the customer's creditworthiness deteriorates,
 in the event of a change of the volumes agreed with
1
the customer, of the STP-Rate for handling
transactions, or of the intended implementation (e.g.
number of accounts maintained),
 In the event of changes in the Tariffs and Conditions, the
customer may termintate the use of the services affected
by the changes, or the overall framework agreement for
payment services, prior to those changes becoming
effective, without notice period and exempt from charges,
on the basis of the General Terms and Conditions.
 ING Bank can determine and apply fees and charges for
other services, not listed in these Tariffs and Conditions,
at its reasonable discretion (§ 315 BGB), when such
services are delivered based on a customer’s instruction
or in the presumed interest of a customer, and when such
services can only be delivered against compensation due
to circumstances.
General Information about ING Bank
1
STP stands for 'Straight-Through-Processing', i.e. automatic
processing of transactions from the time transfer instructions are
received until they are fully executed. As a rule, fully automated
transaction execution is not possible in the case of paper-based
instructions, or in the case of instructions containing errors requiring
correction by ING Bank.
1. Bank Name and Address for Service of Summons
ING Bank, a Branch of ING-DiBa AG
Hamburger Allee 1
60486 – Frankfurt am Main
2. Postal Address
ING Bank, a Branch of ING-DiBa AG
Hamburger Allee 1
60486 – Frankfurt am Main
P.O. Box 20 02 44
60606 – Frankfurt am Main
Telephone, Website
+49 (0)69 759 36 0
www.ingbank.de
Please note:
When delivering instructions (e.g. payment orders) to ING
Bank, customers should use the means of communications
agreed with ING Bank, such as the agreed electronic banking
channel.
3. Supervisory Authorities
Bundesanstalt für Finanzdienstleistungsaufsicht,
Graurheindorferstrasse 108
53117 – Bonn
4. Registration with the Commercial Register
Frankfurt am Main, Local Court, HRB 7727
Charges and Fees
I Accounts and Interest Rates
I a. Account Management
Account management
€ 8.00 per account and month
Booking fee
€ 0.30 per posted booking
Provision of accounts in currencies other than Euro (EUR), US Dollar (USD) or British Pounds Sterling (GBP) is subject
to separate negotiation and agreement with ING Bank.
I b. Interest Rates
Interest rates on credit
EUR, USD, GBP
balances
Other currencies
2
Interest rate for unauthorized overdrafts in EUR
Interest rate for unauthorized overdrafts² in USD
Interest rate for unauthorized overdrafts² in GBP
Interest rate for unauthorized overdraft²(other
currencies)
I c. Account Information
Delivery of account statements
Electronically, via electronic banking, per account and
month, at the end of the day as MT940
Electronically, via electronic banking, intraday as
3
MT942 reports
Paper account statements per post
Further copies of account statements
Duplicate account statements, for activities up to one
year old
Duplicate account statements, for activities older than
one year
0.00% p.a.
upon request
EONIA + 10.00% p.a.
LIBOR ON (USD) + 10.00% p.a.
LIBOR ON (GBP) + 10.00% p.a.
upon request
free of charge
€ 30.00 per account and month
actual postage charges
€ 30.00 per account and month
€ 15.00 per duplicate
€ 30.00 per duplicate
Account information from/to other payment service providers
Receipt of electronic account statements (MT940,
€ 25.00 per account and month
MT942) from payment service providers via SWIFT
and provision to customer via electronic banking
Forwarding of electronic account statements (MT940,
€ 50.00 per account and month
MT942) to payment service providers via SWIFT
II Payment and Collections
II a. Funds Transfers
SEPA transfers domestically and within the European Union and EEA States in Euro – outgoing
The following Terms and Conditions apply to the forms of transfers referenced below:
SEPA transfers:
Currency: Euro
Amount: Unlimited
Recipient's IBAN and BIC address provided
Fee sharing arrangement "SHA" (sharing fees)
Recipient located within the European Union/ EEA Member State or Switzerland
The tariffs and conditions described in the following chapter entitled "International transfers (non-EU/EEA countries)
and transfers in foreign currencies" apply to transfer instructions which do not meet these criteria.
Transfers electronically transmitted via electronic banking
SEPA individual transfers
SEPA transfers in bulk orders
SEPA urgent transfer (“PriorityInstruction High”) with
same-day execution
SEPA transfers with code word SALA, in bulk orders
SEPA individual transfers with code word TREA
(execution via TARGET2)
SEPA individual transfers with code word INTC
Transfers within the EU and the EEA Member States,
non-urgent, non-SEPA transfer
2
free of charge
€ 0.12 per SEPA transfer in bulk order
€ 5.00 per transfer
free of charge
€ 10.00 per transfer
free of charge
0.075%, min. € 15.50, max. € 75.00, per transfer
Overdrafts on accounts are not permitted by default. Should nevertheless an overdraft be agreed at short notice with ING Bank, the debit
interest rates referenced here will be applied at that time. ING Bank reserves the right to unilaterally adjust these debit interest rates for
unauthorized overdrafts without further notice.
3
Intraday MT942 reports are provided only by prior agreement with ING Bank.
€ 10.00 per transfer
0.075%, min. € 15.50, max. € 75.00, per transfer
+ € 6.00 surcharge for urgent processing
+ € 35.00 per transfer, as fax or letter
Urgent transfer (execution via TARGET2)
Urgent transfer (execution to payment service provider
not affiliated with TARGET2)
4
Surcharge for paper-based / manual (urgent-)
transfers
SEPA transfers domestically and within the European Union and EEA States in Euro – incoming
Incoming SEPA transfer
free of charge
Incoming urgent transfer (via TARGET2)
free of charge
Incoming transfer, non-urgent, non-SEPA transfer
0.075%, min. € 15.50, max. € 75.00 per transfer
Incoming urgent transfer (from payment service
0.075%, min. € 15.50, max. € 75.00 per transfer
providers not affiliated with TARGET2)
International transfers (non-EU/EEA countries) and transfers in foreign currencies – outgoing
Transfers, electronically transmitted via electronic
0.075%, min. € 15.50, max. € 75.00 per transfer
banking (bulk orders are broken down into the
individual transfers therein)
Surcharge for urgent transfer
+€ 6.00 per transfer
Surcharge for paper-based / manual (urgent-)
+ € 35.00 per transfer, as fax or letter
transfers
International transfers (non-EU/EEA countries) and transfers in foreign currencies – incoming
Incoming transfer in Euro, non-urgent
0.075%, min. € 15.50, max. € 75.00 per transfer
Incoming transfer in foreign currency, non-urgent
0.075%, min. € 15.50, max. € 75.00 per transfer
Incoming transfer in Euro, urgent
0.075%, min. € 15.50, max. € 75.00 per transfer
Incoming transfer in foreign currency, urgent
0.075%, min. € 15.50, max. € 75.00 per transfer
ING intra-company payments – outgoing
The following terms and conditions apply to ING intra-company payments:
5
Transfers to accounts held within ING Group in selected countries , within same customer group
Currency of the payment order must be the same as the currency of the paying and of the receiving accounts
Currencies other than EUR are subject to separate agreement with ING Bank
Transfers electronically transmitted via electronic banking
Transfer within the branch
Transfer to another ING branch
Surcharge for paper-based / manual (urgent-)
transfers
free of charge
€ 9.00 per transfer
+ € 35.00 per transfer, as fax or letter
ING intra-company payments – incoming
Incoming transfer within the branch
Incoming transfer from another ING branch
free of charge
free of charge
Standing orders
Set-up of standing order
Amendments to standing order
Cancellation of standing order
€ 20.00 per standing order
€ 10.00 per standing order
free of charge
II b. Direct Debits – Domestic and SEPA
Requests to honor direct debits (debit to customer account)
Paying out on a CORE-SEPA direct debit
free of charge
Paying out on a B2B-SEPA direct debit
free of charge
Return of a domestic SEPA direct debit
€ 3.00 per direct debit
Return of an international SEPA direct debit
free of charge
Mandates for SEPA
Setting up B2B SEPA
€ 5.00 per mandate
direct debits
mandate
Amendment of B2B
€ 3.00 per mandate
SEPA mandate
Cancellation
free of charge
Implementing blocks and
€ 5.00 per creditor
6
filters on SEPA
mandates
4
ING Bank does not accept SEPA transfers submitted in paper format. Payment orders for these payment instruments may only be
transmitted electronically via electronic banking.
List of partipating countries can be supplied upon request.
6
Blocks and filters on SEPA products refer to blocking all requests to honor SEPA direct debits, blocking requests to honor SEPA direct debits
from specific creditors, from specific mandates or from specific transactions, and putting a cap on amounts per mandate.
5
ING Bank, a Branch of ING-DiBA AG
3
Tariffs and Conditions
€ 60.00 per unfounded objection
Unfounded objection to a
debit from an unauthorized SEPA direct debit
Obtention of a copy of
mandate
€ 30.00 per copy
Submission of direct debit orders for collection (credit to customer account)
SEPA CORE, SEPA COR1 and SEPA B2B direct
€ 0.12 per individual debit in bulk order
debits in bulk, electronically submitted via electronic
banking
Returned direct debit, ING Bank’s own charge (in
€ 3.00 per returned direct debit
addition to possible charges by other payment service
providers)
Reimbursement of the amount credited, of an
free of charge
authorized SEPA direct debit
Reimbursement of the amount credited, of an
€ 60.00 per reimbursement case
unauthorized SEPA direct debit
Submission of direct debit orders for collection is subject to separate agreement with ING Bank.
Note: The service Direct Debits may require a credit facility to be arranged in advance.
II c. Cheques
Requests to honor cheques (debit to customer account)
Honoring cheques in Euro
Honoring cheques in foreign currency and honouring
international cheques in EUR
Prenotation of a stop payment
Issue of Euro-denominated cheque forms
free of charge
the fee applicable for the respective (international-) transfer
in that particular currency, per cheque
€ 10.00 per cheque
€ 15.00 (plus VAT) for a block of 10 cheques
Submission of cheques for collection (credit to customer account)
Cheques in Euro, drawn on a domestic bank
€ 3.00 per cheque
Cheques in Euro, drawn on a foreign bank/cheques in
0.2%, min. € 20.00, max. € 500.00 per cheque
foreign currency
Cheques returned unpaid and/or protested
0.2%, min. € 20.00, max. € 100.00 per cheque
Surcharge for investigations by ING Bank, in case of
€ 5.00 per cheque
incomplete credit information or missing cheque
collection forms
Provision of “Lockbox” Service
€ 20.00 per account and month
Provision of the Lockbox Service is subject to separate agreement with ING Bank. For precise terms and conditions,
customers may refer to the separate “Lockbox” Agreement for the collection of cheques directly from a customer’s
debtors.
II d. Cards
Debit cards – girocard (Maestro)
Card issuance
€ 20.00 per card, one-time fee
Annual fee
€ 10.00 per card and year
Cash withdrawal at ATMs of ING DiBa AG
free of charge
Cash withdrawal at other ATMs
applicable tariffs of the respective payment service provider
The services described in this section must be separately agreed with ING Bank.
Credit cards “ING Corporate Card” – (MasterCard)
Credit cards must be separately agreed with ING Bank N.V., Amsterdam (the provider). We are happy to forward upon
demand the tariffs for this service. The closing statements for this service will be sent directly by the provider.
III Pooling and Liquidity Structures
The services described in this section must be separately agreed with ING Bank.
Note: These services require among others the arrangement of credit facilities with the customer. For this reason, the terms
and conditions described in this section are only informative in nature. They do not represent an offer or a commitment by
ING Bank to provide such credit facilities.
Local zero-balancing
Implementing a local
zero-balancing structure
Set-up
€ 500.00 per account, one-time fee
Amendment
€ 100.00 per account
Cancellation
free of charge per structure
Base fee for local zero-balancing
€ 25.00 per account and month
Fees for pooling transactions
free of charge, per pooling transaction
Local zero-balancing is executed daily, as part of local end-of-day processes.
Cross-border cash-balancing
ING Bank, a Branch of ING-DiBA AG
4
Tariffs and Conditions
Implementing a crossborder cash-balancing
structure
€ 100.00 per account, min. € 1000.00 per structure, onetime fee
€ 100.00 per account
free of charge per structure
€ 100.00 per account and month
Set-up
Amendment
Cancellation
Base fee for inclusion of a local account in a crossborder intra-day cash-balancing structure
Base fee for inclusion of a local account in a cross€ 250.00 per account and month
border end-of-day cash-balancing structure
Fees for pooling transactions
free of charge, per pooling transaction
Cross-border intra-day cash-balancing is executed daily at 3.30pm. Cross-border end-of-day cash balancing is executed
daily, in the morning of the following business day, based on the last end-of-day balances.
Multi-bank funding & sweeping
Base fee for inclusion of local account in a cashbalancing structure with another payment service
provider
Fees for pooling transactions
€ 100.00 per account and month
the fee applicable for an urgent transfer in the respective
currency, per pooling transaction
rd
Executing payments / sending instructions from/to 3 -party payment service providers using MT101 messages
rd
MT101 from 3 -party payment service providers
€ 75.00 per account, one-time set-up fee
rd
MT101 to 3 -party payment service providers
€ 25.00 per account and month
IV Electronic Banking Services
On site installation support
On site support for installing Multiweb/Multicash, on
site training in the use of these applications
€ 600.00 (plus VAT) per day
Multiweb
Installation executed by the customer
free of charge
Installation, where installation support is required on
see "Onsite installation support "
site
Usage fee
€ 25.00 per account and month
Installation of Multiweb may be performed by the customers themselves. Where necessary, ING Bank is happy to offer
the above mentioned support and training separately.
Multicash
Installation
see "On site installation support "
Licence fee
€ 550.00 (plus VAT), one-time fee
Usage fee
€ 30.00 per account and month
Technical support for Multicash (EBICS) applications of other payment service providers is offered exclusively by those
suppliers.
EBICS Connection for Payment-Factory Services
Implementation Fee
€ 5000.00 per structure, one-time fee
Annual Maintenance Fee
€ 1000.00 per structure and year
The EBICS Connection for Payment-Factory Services must be separately agreed with ING Bank.
Other applications
The use of other electronic banking applications of ING Group (e.g. Telelink@Isabel, File Transfer Protocol, SwiftNet,
etc.), is subject to the terms and conditions of the respective provider.
V Other Services
Inquiries and investigations
7
Inquiries (incl. investigation requests), simple
Inquiries (incl. investigation requests), complex
€ 20.00 per inquiry
€ 50.00 per inquiry (plus additional charges of other
payment service providers)
€ 100.00 per inquiry (plus additional charges of other
payment service providers)
Inquiries (incl. investigation requests), for activities
older than 6 months
Confirmations and advices
Annual bank confirmation
Auditor certificates
free of charge
€ 100.00 for the first up to 3 (three) pages, € 50.00 per page
thereafter
€ 50.00 per request
Confirmation of capital for company under
incorporation
7
Simple inquiries and investigation requests are such, which occur on the phone and, which are resolved within the same phone call.
ING Bank, a Branch of ING-DiBA AG
5
Tariffs and Conditions
€ 50.00 per written notification
€ 50.00 per written confirmation
free of charge
€ 50.00 per replacement
Separate notification of payment to beneficiary
Separate confirmation of executed payment
Tax certificate
Replacement tax certificate
Rejections, repairs, revocations and recalls
Notification of the rejection of execution of a payment
order
Surcharge for the repair of a payment order
8
Revocation of a transfer order, after the transfer
order was received by ING Bank, prior to the
execution of the transfer
9
Recall of a transfer order, after the transfer order was
received by ING Bank, after the execution of the
transfer
€ 25.00 per notification
+ € 8.00 per repair
€ 25.00 per revoked transfer
€ 50.00 per recalled transfer
Miscellaneous
Forwarding of copy of cheque or of cheque original to
customer
8
9
€ 20.00 per cheque or copy
ING Bank cannot guarantee the successful revocation of a payment order.
ING Bank cannot guarantee the successful recall of a payment order.
ING Bank, a Branch of ING-DiBA AG
6
Tariffs and Conditions
VI Guarantees and Documentary Trade
The services described in this section must be separately agreed with ING Bank.
Note: These services require among others the arrangement of credit facilities with the customer. For this reason, the terms
and conditions described in this section are only informative in nature. They do not represent an offer or a commitment by
ING Bank to provide such credit facilities.
VI a. Guarantees
Guarantee fees
Guarantee fees
On request, min. € 500.00 per year
Other fees
Advise of a guarantee
Opening fee
Amendment fee
Text provided by customer / legal checking of text
Claim of a guarantee
0,10%, min. € 100,00 max. € 300,00
€ 100.00 per guarantee
€ 100.00
€ 100.00
0,30%, min € 300,00
VI b. Documentary Trade
Import letters of credit
Preadvise of a letter of credit
Risk opening commission
Opening commission
Amendment commission
Document handling commission
Commission discrepant documents
Refusal and return of documents
Release of goods
Deferred payment commission
Acceptance commission
€ 100.00
On request, min. € 100.00 per commencing month
€ 100.00
€ 100.00
0.30%, min. € 150.00
€ 100.00
0.30%, min. € 150.00
€ 200.00
On request, min. € 100.00 per commencing month
On request, min. € 100.00 per commencing month
Export letters of credit
Pre-advise of a letter of credit
Advise of a letter of credit
Commission for transferred letter of credit
Confirmation commission
Amendment commission
Increase of a confirmed letter of credit
Pre-check of documents
Documents handling commission
Commission for discrepant documents
Deferred payment commission
Acceptance commission
Supervisory commission for advised letter of letter with
deferred payment
Notice of assignment
Issuance of a Bill of Exchange
Reimbursement commission
€ 100.00
0.10%, min. € 100.00, max. € 300
0.30%, min. € 250.00
On request, min. € 100.00 per commencing month
€ 100.00
On request
€ 100.00 per document set presented
0.30%, min. € 150.00
€ 100
On request, min. € 100.00 per commencing month
On request, min. € 100.00 per commencing month
0.10%, min € 100.00, max. € 300.00
€ 100.00
€ 30.00
€ 50.00
Import collection
Collection Commission
Supervisory commission for handling “documents
against acceptance”
Amendment of collection Instructions
Release of goods
0.30%, min. € 100.00
€ 100.00
€ 100.00
€ 200.00
Export collection
Collection Commission
Supervisory commission for handling “documents
against acceptance”
Amendment of collection instructions
Tracers under collection
0.30%, min. € 100.00
€ 100.00
€ 100.00
€ 25.00
Draft
Draft payable at our counters
Draft collection, domestic
ING Bank, a Branch of ING-DiBA AG
0.30%, min. € 100.00
0.30%, min. € 100.00
7
Tariffs and Conditions
VI c. Postage for Guarantees and Documentary Trade
Letter
Registered mail
Courier
domestic
Europe
USA
Asia
Africa
SWIFT
ING Bank, a Branch of ING-DiBA AG
€ 3.50 per mailing
€ 7.50 per mailing
€ 15.00 per mailing
€ 27.50 per mailing
€ 32.50 per mailing
€ 37.50 per mailing
€ 37.50 per mailing
€ 15.00 per message
8
Tariffs and Conditions
Cut-Off Times, Execution Terms and Value Dates
I Payments and Collections
SEPA transfers domestically and within the European
Union and EEA States in Euro – outgoing
Transfers electronically transmitted via electronic banking:
SEPA individual transfers
SEPA transfers in bulk orders
SEPA urgent transfer (“PriorityInstruction High”) with
same-day execution
SEPA transfers with code word SALA, in bulk orders
SEPA individual transfers with code word TREA
(execution via TARGET2)
SEPA individual transfers with code word INTC
Transfers within the EU and the EEA Member States,
non-urgent, non-SEPA transfer
Urgent transfer (execution via TARGET2)
Urgent transfer (execution to payment service provider
not affiliated with TARGET2)
Paper-based / manual (urgent-) transfers
Value Date of the Debit
Cut-Off Time
D
D
D
4.30pm
10
4.30pm
1.30pm
D
D
1.30pm
2.30pm
D
D
1.30pm
4.00pm
D
D
4.00pm
4.00pm
D
9.00am
10
Execution Terms:
ING Bank is obliged to ensure that the payment service provider of the beneficiary receives the transferred amount as
follows:
no later than on the next business day on the account of the
Transfer in Euro, to another payment service provider
in an EU/EEA State
payment service provider of the beneficiary if
the transfer is denominated in Euro
fee sharing agreement is not "BEN" or "OUR"
the payer has provided the IBAN of the beneficiary and
the BIC of the payment service provider
Urgent transfers in Euro (via Target 2) to another
on the same business day on the account of the payment
payment service provider in an EU/EEA State
service provider of the beneficiary , if submitted electronically
Transfer in an EEA currency other than in Euro, to
within four business days on the account of the payment
another payment service provider in an EU/EEA State
service provider of the beneficiary, if
the transfer is denominated in an EEA currency
fee sharing agreement is not "BEN" or "OUR"
the payer has provided the IBAN of the beneficiary and
the BIC of the payment service provider
The execution term begins at the end of the day on which:
all the necessary details to execute the transfer are provided by the cut-off times stated above, under sec. II. 1 of the
"Terms and Conditions for Transfers", and
a sufficient credit balance is available, or sufficient credit facility has been granted, to cover the transfer.
SEPA transfers domestically and within the European
Union and EEA States in Euro – incoming
Incoming SEPA transfer
Incoming urgent transfer (via TARGET2)
Incoming transfer, non-urgent, non-SEPA transfer
Incoming urgent transfer (from payment service
providers not affiliated with TARGET2)
Value Date of the Credit
International transfers (non-EU/EEA countries) and
transfers in foreign currency – outgoing
Transfers, electronically transmitted via electronic
banking (bulk orders are broken down into the
individual transfers therein)
Urgent transfer
Paper-based / manual (urgent-) transfers
Value Date of the Debit
Cut-Off Time
D with / without currency
conversion;
(execution on D+2)
1.30pm (Euro)
11.30 am (foreign currency)
International transfers (non-EU/EEA countries) and
transfers in foreign currency – incoming
Incoming transfer in Euro/EEA currency, non-urgent
Incoming transfer in foreign currency, non-urgent
Value Date of the Credit
Cut-Off Time
D
D+3
4.00pm
11.30am
D
D
D
D
11.30 am
9.00am
10
Cut-Off Time 1:30pm for the same-day execution of a SEPA transfer, when executed in favor of a beneficiary with accounts at another ING
Bank branch.
ING Bank, a Branch of ING-DiBA AG
9
Tariffs and Conditions
Incoming transfer in Euro/EEA currency, urgent
D
4.00pm
Incoming transfer in foreign currency, urgent
D+2
11.30am
Credits pursuant to the above table are posted only after ING Bank has received funds covering them.
ING intra-company payments – outgoing
Transfers electronically transmitted via electronic banking:
Transfer within the branch
Transfer to another ING branch (EUR)
Transfer to another ING branch(other currencies)
Paper-based / manual transfers
Value Date of the Debit
Cut-Off Time
D
D
D
D
4.00pm
4.00pm
11.30am
9.00am
Execution Terms:
Transfers within the branch within one business day
Transfers to another ING branch within one business day
ING intra-company payments –
incoming
Incoming transfer within the branch
Incoming transfer from another ING branch
Value Date of the Credit
D
D
II Direct Debits – Domestic and SEPA
Requests to honor direct debits (debit to customer
account)
Paying out on a CORE-SEPA and COR1-SEPA direct
debit
Paying out on a B2B-SEPA direct debit
Value Date of the Debit
T
11
11
T
Submission of direct debits for collection (credit to
customer account)
Transfers electronically transmitted via electronic banking:
CORE-SEPA direct debits, as one-off, as first of a
12
recurrent serie, or with an amended mandate
CORE-SEPA direct debits, recurrent in a serie, except
the first of that serie
COR1-SEPA direct debits
B2B-SEPA direct debits
Value Date of the Credit
Cut-Off Time / Date
11
T , if received on
T - 6 TARGET days at the latest, by 11.00pm
11
T , if received on
T - 3 TARGET days at the latest, by 11.00pm
11
T , if received on
T - 2 TARGET days at the latest, by 11.00pm
11
T , if received on
T - 2 TARGET days at the latest, by 11.00pm
Execution terms for SEPA direct debits:
SEPA direct debits can be used to collect funds both domestically and in other countries participating in the SEPA
direct debit scheme. They are denominated in Euro and must provide the IBAN of the debtor (payer) and the BIC of
the debtor’s (payer’s) payment service provider.
The creditor (beneficiary) agrees with the debtor (payer), on the particular date(s) when funds will be collected (T).
This date should be on a day on which the TARGET clearing house is open for business (TARGET day). Collections
for non-TARGET days will be settled on the next TARGET day.
SEPA direct debit orders must be received by ING Bank in time to be passed on to the payment service provider of
the debtor (payer), i.e. not later than the above mentioned Cut-Off Times and Dates.
At ING Bank, creditors (beneficiaries) can transmit SEPA direct debit orders up to 6 (six) months prior to the date
when funds will be collected (T minus 6 months).
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"T" means the (TARGET) day on which the creditor (beneficiary) asks for funds to be collected. It coincides with the settlement date, i.e. the
date on which the funds move from the debtor’s payment service provider, to the creditor’s payment service provider, and with the debit date,
i.e. the date on which the debtor (payer) is debited.
12
Please note that an existing mandate counts as “amended” among others when the bank details of the debtor (e.g. account number,
payment service provider, BIC or IBAN) change. Thus, any affected recurrent CORE SEPA direct debits do not count as “recurrent” any
longer, rather become “with an amended mandate” and must be submitted to ING Bank before the respective earlier Cut-Off-Date.
ING Bank, a Branch of ING-DiBA AG
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Tariffs and Conditions
III Cheque Transactions
Requests to honor cheques (debit to customer
account)
Honoring cheques in Euro
Honoring cheques in foreign currency and international
cheques in Euro
Value Date of the Debit
D
D
Submission of cheques for collection (credits to
customer account)
Cheques in Euro, drawn on domestic bank
Cheques in Euro, drawn on a foreign bank/cheques in
foreign currency
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Value Date of the Credit
Cut-Off Time
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12.00noon
throughout the day
D +2
Credit after receipt of
funds
"D" means the date on which ING Bank received the cheque for collection prior to ING Bank's Cut-Off Time.
ING Bank, a Branch of ING-DiBA AG
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Tariffs and Conditions
Annexes and Remarks
We automatically set payment instructions to SHA for
transfers in Euro and EEA currencies, except when the
transfer requires a currency conversion, or when the
beneficiary is outside the European Union or an EEA State.
Countries of the European Union
Belgium, Bulgaria, Croatia, Cyprus, Denmark, German,
Estonia, Finland, France, Ireland, Italy, Greece, Latvia,
Lithuania, Luxembourg, Malta, the Netherlands, Austria,
Poland, Portugal, Romania, Sweden, Slovak Republic,
Slovenia, Spain, Czech Republic, Hungary, United Kingdom
EEA Member States
Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic,
Denmark, Estonia, Finland, France (incl. French-Guayana,
Guadeloupe, Martinique, Mayotte, Reunion), Germany,
Greece, Hungary, Iceland, Ireland, Italy, Latvia,
Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands,
Norway, Poland, Portugal, Romania, Slovak Republic,
Slovenia, Spain, Sweden, United Kingdom
EEA zone currencies
Bulgarian lew, Croatian kuna, Czech krona, Danish krone,
Estonian kroon, euro, Hungarian forint, Icelandic króna,
Latvian lats, Lithuanian litas, Norwegin krone, Polish zloty,
Pound sterling, Romanian leu, Swedish krona, Swiss franc.
Meaning of "D" on value dates
Unless otherwise specified, "D" refers to the business date
on which ING Bank receives an order from the ordering party
prior to the Cut-Off Time applicable thereto in each case.
This includes for example, domestic transfer orders, SEPA
transfer orders, but also orders to collect direct debits; it also
applies to cheques submitted for collection.
In the case of incoming transfers and debits which the
customer has not itself ordered (e.g. when executing
requests to honor direct debits or cheques), "D" refers to the
business date on which ING Bank has received the incoming
transfer, or respectively on which ING Bank has received the
request from another payment service provider.
Conversion rate for foreign currency transactions
Unless otherwise agreed, foreign currency conversions for
international transfers are executed at ING Bank's conversion
rate from time to time. That conversion rate is based on
market rates as of the date of the conversion, which
customers may also find, for example, at Reuters. Customers
may see the precise conversion rate applied to a given
transfer on their bank statements or may subsequently
inquire with ING Bank with respect to the rates.
Business days
A business day is any day on which the payment service
providers involved in the execution of a payment transaction
operate as required to execute that payment. ING Bank
operates as required for the execution of payments, on all
working days, except
 on Saturdays
 on 24 and 31 December
 and on national statutory bank holidays and statutory
holidays of the State of Hessen
ING Bank does not charge customers any additional
conversion fees.
Repairs to payment instructions
Pursuant to our terms and conditions for funds transfers,
orders containing errors may be rejected as 'non-executable'.
However, we do reserve the right, in individual cases, to
make repairs to payment orders. Such repairs are chargeable
according to these Tariffs and Conditions.
ING Bank supports payment transactions via TARGET on
public holidays, on which the TARGET clearing house is
open for business (http://www.bundesbank.de/target2
/target2_leistungsumfang.php#oeffnungszeiten.)
Cut-off times and execution terms
Instructions received after the respective cut-off times may be
executed on the following business day.
IBAN and BIC
IBAN is the abbreviation for “International Bank Account
Number”.
Paper based / manual international transfers in Euro
Paper based / manual transfers are considered urgent, if they
explicitly state the urgent nature of the transfer, for example
by explicitly using words like "urgent" or "telegraphic".
BIC is the abbreviation for “Bank Identifier Code”.
International transfers in Euro, which can be identified as
urgent and, which are not transmitted electronically via an
electronic banking system, will be routed for execution first
via Target 2.
ING DiBa AG Automatic Teller Machines (ATM)
For a current list of ING DiBa AG's ATMs, customers are
advised to refer to www.ing-diba.de
Should the execution not be possible via Target 2, such a
transfer will instead be routed to the next best execution
form, e.g. via SWIFT.
Rules on fee sharing in international payment
transactions
The customer can select among the following fee sharing
options when effecting international payments:
 Payment instruction “SHA“ (SHARE): Payer assumes
charges at its bank and beneficiary bears all other
charges.
 Payment instruction “OUR“: Payer assumes all charges.
 Payment instruction “BEN”: Beneficiary assumes all
charges, i.e. payment service providers such as ING
Bank/correspondence banks will reduce the amount
paid/passed through, by their own respective fees.
Rejection of payment orders and return of requests to
honor direct debits with insufficient cover
Outgoing payments and requests to honor direct debits
cannot be executed from accounts with insufficient cover, i.e.
from accounts on which there is neither a sufficient credit
balance available, nor has sufficient credit limit been granted.
ING Bank, a Branch of ING-DiBA AG
ING Bank deletes outgoing payment orders with insufficient
cover at the end of the same business day. Customers will be
notified about the deleted payment orders promptly
thereafter.
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Tariffs and Conditions
In case of insufficient cover to honor direct debits, ING Bank
will notify customers about the direct debit requests by
phone, promptly after receiving them. The requests will be
returned as rejected at the end of the same business day, if
cover remains insufficient. ING does not separately notify
customers about the return of rejected direct debit requests.
Address for cheques submitted for collection
Cheques submitted for collection per post should be
addressed as follows:
P.O. Box 16 03 48
60066 Frankfurt am Main
The above mentioned terms before deleting payment orders
or returning direct debit requests, are meant to allow
customers to subsequently secure sufficient cover. Payment
orders or direct debit requests are automatically executed,
once sufficient cover becomes available within those terms.
This address applies also for the delivery of cheques in the
“Lockbox” Service, directly by your debtors, should you have
a prior agreement for this service with ING Bank.
Return of cheques with insufficient cover
In case of insufficient cover, checks will not be honored and
will be returned after one (1) day, without notification to the
customer.
ING Bank, a Branch of ING-DiBA AG
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Tariffs and Conditions