Cash Management Financial Institutions

Our services at a glance

  • Efficient handling of EUR and local currency payments, interbank as well as commercial transactions 1)
  • Participant in STEP1/EURO1, Target and all local currency clearing systems in our home market. Access to STEP2 for EU regulated payments      
  • Large world-wide correspondent network    
  • GET Service for commercial payments in EUR (non EU regulated) and local currencies into Austria, Bosnia-Herzegovina, Croatia, Czech Republic, Hungary, Romania, Serbia and Slovakia as well as EU regulated payments (PSD/SEPA) in EUR and local currency into Erste Group       
  • Maintenance of EUR and local CEE currency accounts with respective account services     
  • Account balance information and transaction reporting
  • Major provider of group-wide cash management services, allowing financial transactions, an overview of balances on all accounts, lower fees, the highest level of security and 24/7 access regardless of the location

1) Please be advised that we, as an intermediary bank, reserve the right, based on existing agreements with our correspondent banks, to convert incoming payments that are in a currency that is not identical to the currency of the recipient’s country, into the currency of the recipient’s country when forwarding them, in order to try to achieve the most cost-efficient settlement of the transaction for everyone, including for the recipient. Through the conversion, we earn a margin that is market-standard and that is shared with our correspondent bank. However, if in such a case the recipient expected the amount in a foreign currency in order to credit an existing foreign currency account, we kindly ask you to contact your local bank in order for us to be able to adjust our system accordingly so that no conversion takes place.

Take advantage of our group-wide harmonised terms and conditions for account maintenance, statements, etc. for your accounts in EUR and “our“ local currencies.

You enjoy a tailor-made account product which is harmonised for EUR and local currencies according to your requirements.

For detailed terms and conditions please contact your Regional Manager at Erste Group.

General Terms & Conditions applicable to domestic credit institutions and credit institutions abroad.

The banks of Erste Group will apply the following Terms & Conditions for commercial payments routed to them and processed via the Erste Group payment hub:

Erste Bank der oesterreichischen Sparkassen AG

Please find enclosed Erste Group Bank’s major correspondents for commercial transactions.