Payment transactions

Your domestic and foreign payments are in the best hands with us, as we can assist you with the increasingly globalised demands of payment systems.

  • SEPA and foreign payments, SWIFT MT 101
  • Fast Intragroup Transfer, Intracompany Payments
  • VIRTUAL.IBAN
  • CGI

SEPA payments

SEPA (Single Euro Payment Area) facilitates and regulates European payment transactions. All EU member countries, plus Liechtenstein, Norway, Iceland, Monaco and Switzerland currently participate in SEPA.

SEPA Credit Transfer (SCT) is an electronic-transfer system within the SEPA area.

Its main features:

  • Uses an IBAN (International Bank Account Number) and BIC/SWIFT
  • Maximum transfer time: One day
  • No deduction of charges from original amount
  • No transfer limit
  • Uniform legal framework
  • Uniform format for SEPA payments

SEPA Direct Debit (SDD) is a Europe-wide standardised debit procedure and, with SEPA Direct Debit Core, provides a solution for B2B and B2C. Sepa Direct Debit B2B provides a direct debit infrastructure between corporates.

Foreign payments and SWIFT MT101

Erste Group supports your world-wide payment transactions in almost all currencies, using automated conversion of foreign currencies, same-day treasury payments, and SWIFT MT101 forwarding.

Your benefits:

  • Direct connection to your current accounts at any bank
  • Efficient processing of foreign payments
You will receive account statements from the account-driven bank within the supported applications from Erste Group Bank AG. We are also able to process incoming MT101 orders debited from your account at us.

Fast Intragroup Transfer 3.0 (FIT 3.0)

Fast and cheap transfer within Erste Group region / saving banks

Make your business FIT – cross-border transfers within the Erste Group region can take as little as 1 hour with Fast Intragroup Transfer 3.0 (FIT 3.0).

The benefits to you:

  • The amount is in your business partner’s account in a very short time
  • No express fees – there are no surcharges for these rapid transfer
  • No limit – you can transfer any amount
  • For the duration of foreign transfers that are not converted, please see the table of partner banks
  • All customer groups

Electronic orders for all customers of the participating banks between 08.00 and 15.00 may be processed as FIT 3.0. Please find the table of partner banks in the product information for download.

Paper based transfers will take place on the next bank working day.

Conditions:

  • The transfer is submitted electronically in EURO between 8 a.m. and 3 p.m.
  • Originator and beneficiary must have accounts at participating banks
  • All requisite data must have been correctly recorded

For detailed country specific information please contact your account manager.

Product information FIT 3.0

Intracompany payments

When initiating or receiving transfers within a corporate group, you will profit from our especially favourable terms and conditions at Erste Group:

The benefits to you:

  • Processed as urgent payments
  • World-wide, with and without currency conversion
  • Favourable terms on charges
  • Uniform conditions irrespective of transfer amount benefits for both outgoing and incoming transfers

Product information intracompany payments

corporate VIRTUAL.IBAN

Our product for highly automated reconciliation of account receivables

By means of virtual IBANs you are able to clearly identify your debtors and are thus given an effective, automated means of reconciling your account receivables in your internal accounting system.

The transactions are routed from special account numbers, so-called “virtual IBANs”, to a real collection account. The reconciliation is effected through the virtual IBAN shown in the account statement from the collection account.

The benefits to you:

  • Less effort to reconcile your accounts receivables in your internal accounting system
  • Identification of debtors via virtual IBANs
  • No special client code  necessary
  • Available for all SEPA payments in EUR

Product information VIRTUAL.IBAN

CGI

The Common Global Implementation-Market Practice (CGI-MP) initiative has the goal of simplifying implementation for corporate users and, thereby, to promoting wider acceptance of ISO 20022 as the common XML standard used between corporates and banks.

Use the globally recognized standard for communication between corporates and the banks. Send us payment orders and receive reports for all Erste Group accounts in the XML 20022 CGI format.

The benefits to you:

  • SEPA compliance
  • Use of uniform global messages as Erste Bank's implementation is built upon recommendations from Common Global Implementation (CGI)
  • Simplified processes and set-up even in multi-country operations due to our single platform
  • One message structure in payment initiation and account reporting
  • One message structure enabling you to initiate domestic and cross-border payments in the same file format in multiple countries
  • One format for account reporting as CGI ISO 20022 XML Cash Management messages can be delivered for all Erste Group accounts

corporate PAYMENT.FACTORY

This is our solution if you

  • are a multinational corporate and you have international subsidiaries abroad in different countries in Europe or
  • if you want to use the CGI ISO 20022 XML-based format for your payment flows with your bank partners

With this system we offer you a harmonized payment format for the execution of payments on behalf of your accounts within the Erste Group in CEE.


Implementation of CGI

  • Decide on one of the following delivery input channels:
    • EBICS
    • Swift FileAct
    • s Fileservice
    • corporate PAYMENT.WIZARD
  • You will then receive from us the format specification for all countries or you can download it from this website
  • The input channel will be set up and tested
  • The file format you have created will be checked for syntax

Here you will get a detailed file description for every country. To obtain the password to access this information please contact:

Robert Konrad
Head of Transaction Banking Sales
+43 (0)5 0100 - 16654
robert.konrad@erstegroup.com

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Please contact

Robert Konrad

Robert Konrad

Head of Transaction Banking Sales

robert.konrad@erstegroup.com

 

Reinhard Keinrath

Reinhard Keinrath

Head of Cash Management

reinhard.keinrath@erstegroup.com