BACB executes payments with in the country and abroad in three basic currencies - EUR, USD, GBP and under strict observance of the country legislation.
BACB provides fast and high-quality execution of currency transfer services through its participation in:
- SEPA - Single Euro Payments Area
- SEPA Inst. - Single Euro Instant Payments Area
- TARGET - The bank is a direct participant in the euro express payment system
- SWIFT - A payment system enabling transfer and exchange of data between financial institutions worldwide in various currencies.
Through the BISERA payment system, BACB executes SEPA Credit Transfers in euros and SEPA Instant Credit Transfers in euros.
- SEPA Instant Credit Transfers in euros are carried out easily and conveniently via internet and mobile banking within seconds.
- maximum amount per transfer – 15,000 euros.
- accessibility: banks participating in the SEPA Instant Credit Transfer scheme – 23 countries. - SEPA Credit Transfers in euros:
- execution time – 1 business day.
- accessibility: banks participating in the SEPA scheme (36 countries).
- maximum amount per transfer – no limit.
Terms for acceptance and execution:
- Payment orders for interbank currency transfers received by the Bank by 4 p.m. shall be processed on the same business day. Orders received after 4 p.m. shall be processed on the next business day.
- Payment orders with same value date must be received by the Bank till 3 p.m. Orders received after 3 p.m. shall be executed with same value date upon Bank's consent or with next value date.
- Transfers in GBP with value on the same working day must be ordered by 12:00 pm and will be processed on the same working day for the sender.
Documents for execution of transfers: Transfers up to the equivalent of EUR 15 338.76:
Payment order (BACB’s form)
Transfers of the equivalent of EUR 15 338.76 or above:
- Payment order (BACB’s form)
- Declaration as per Ordinance No 28of BNB*
Declaration under Art. 2, para. 1 of Ordinance 28 of the BNB shall be filled in when making a cross-border transfer or payment to a third party, the equivalent of which is equal to or exceeds EUR 15 338.76. For transfers and payments to the EEA, the declaration is not required - Documents, which prove the reason for transfer*
* If the transfer is to a bank in the European Union and European Economic Area, no documents are required.
From the perspective of who pays the costs until a transfer reaches the final recipient (in a country outside the EEA), there are three possible options:
- BEN - all costs are borne by the recipient, with the sender's bank deducting its fees from the transfer amount;
- SHA - the sender pays the fees of their own bank, while the correspondent bank's and recipient bank's fees are paid by the recipient;
- OUR option – all transfer fees are borne by the sender, and the beneficiary receives the originally instructed amount.
- Currency transfers to EEA countries and in EEA currencies are carried out in accordance with European directives, specifically with the SHA option, which means that the sender pays the fees of their bank, while the beneficiary pays the fees of the recipient’s bank.
- For SHA option transfers to EEA countries and in a currency other than EEA currencies, the stated transfer fees do not include fees charged by correspondent banks and the recipient’s bank, which will be additionally deducted from the transfer amount.
Correspondent banks of BACB
| Currency | Correspondence Bank | BIC |
| EUR | Raiffeisen Bank International, Vienna | RZBAATWW |
| USD | Raiffeisen Bank International, Vienna | RZBAATWW |
| GBP | Raiffeisen Bank International, Vienna | RZBAATWW |
