Time schedule related to accepting and executing payment orders (international payment transactions)

Time of international payment orders acceptance and execution
International payment operationsExecution dateExpected date of crediting the payee's account
Orders received until 13hSame dayEUR T+2
other foreign currencies T+4
Orders received after 13hFollowing working day

Time of acceptance and execution of domestic payment transactions in the Republic of Serbia in foreign currency and RSD between non-residents and residents

Domestic payment transactions in foreign currencyExecution dateExpected date of crediting the payee's account
Orders received until 13hSame dayEUR T+2
other foreign currencies T+4
Orders received after 13hFollowing working day
Domestic payment transactions in dinarsExecution dateExpected date of crediting the payee's account
Orders received until 14.30hSame dayT+1
Orders received after 14.30hFollowing working day
Time of acceptance and execution of domestic payment orders within the Bank in foreign currency and RSD between non-residents and residents
Domestic payment transactions in foreign currency or dinarsExecution dateExpected date of crediting the payee's account
Orders received until 15.30hSame dayT+0
Orders received after 15.30hFollowing working day
T – (Today) – business day when the order was accepted
Execution within the stated deadline requires the following: legally correct received order, if prescribed, the documentation based on which the payment is executed i.e. if the client did not conclude an agreement on the execution of international payment orders without documentation, as well as sufficient coverage for the execution of the order.

„Execution date“ stated in the tables above, is the date when the Bank sends an authenticated SWIFT message instructing the correspondent bank to forward funds to the payee’s bank in accordance with its time schedule or, regarding the transactions within the Bank, the day it credited the payee account. „Expected date of crediting payee’s account” is date when the payee’s bank, if different from the Bank, shall credit the payee’s account, whereas the date does not depend on the Bank and is contractually determined between the payee’s bank and the payee.

The Bank shall undertake to process the correctly completed payment orders of up to EUR 50,000.00 in favor of a payee from a member state of the European Union, submitted until 13hrs, during the same day by sending an order to a correspondent bank abroad, and to process such orders received after 13hrs on the following working day.

The Bank shall be entitled to deviate from the stated deadlines under extraordinary circumstances. An extraordinary circumstance shall be any instance of force majeure due to which the Bank is technically unable to execute the submitted correct order. If the correct orders’ execution is delayed due to an extraordinary circumstance occurring, interest, or any other type of damages shall not be paid.

User of payment operation services is obligated to monitor possible changes of the Time schedule in branches or on the Bank website.