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 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
Cheap international money transfers for customers
with FIT 4.0
FIT 4.0 - Fast Intragroup Transfer: Fast and affordable international transfers within the Erste Group, selected savings banks, and partner banks
Make your international payments FIT - International transfers are possible in as little as one hour until the funds arrive in the recipient's account.
Your benefits:
- The amount will be in your business partner's account within one hour.
- No express surcharge – you pay no extra fee.
- No limit – you can transfer any amount.
- For all customer groups.
- Applies to Euro transfers to/from all partner banks abroad.
- From all Austrian partner banks, all other currencies are also accepted, provided they are not converted – see also the list of partner banks.
Conditions:
- The transfer must be submitted electronically in euros between 8 a.m. and 3 p.m.
- The sender and recipient must have an account with one of the partner banks.
- All required information for the international transfer must be entered correctly.
Costs:
- SEPA transfers: You only pay the domestic fee – depending on your account type.
- Non-SEPA transfers and other currencies: €3 per transfer, regardless of the amount.
- Incoming payments: Incoming payments from partner banks are free of charge.
Implementation times:
- See list of partner banks.
- e.g.: A EUR transaction from Erste Bank or Sparkasse to Česká spořitelna takes a maximum of 2 hours.
- e.g. A EUR transaction from Erste Bank or Sparkasse to Sparkasse Bank Makedonija a.d. takes a maximum of 3 hours.
- Orders submitted with a transfer slip will be processed on the next business day.
- For further questions regarding FIT 4.0 orders from partner banks abroad, please contact your local account manager.
Find more information here:
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
Find more information here:
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:
- 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
- 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:
Reinhard Keinrath
Head of Cash Management & Digital Sales
reinhard.keinrath@erstegroup.com