FX trading
FX trading and payment schedules abroad
Terms and conditions
Schedule
Accountants and correspondents
Depositing foreign currency cash
Cash payment in foreign currency may be performed on the basis of the following:
- As a collection of funds from the sale of goods and services performed in the Autonomous Province of Kosovo and Metohija with the following documentation:
- Authorization signed by the NBS person authorized to sell foreign currency and to forward the funds in dinar counter value to the client’s current account
- A copy of the invoice or pro-forma invoice
- As a partial refund of the international business trip per diem (final calculation of the international business trip expenses) with the following documentation:
- A request to return cash in foreign currency to legal entity’s foreign currency account and instructions for forwarding funds in dinar counter value if the client wishes to sell foreign currency to the bank
- Final calculation of the international business trip expenses
- As a provision of services to natural persons in the international transportation and commodities market, in duty-free shops, and as toll collections and fuel deliveries to foreign airplanes and ships, all in accordance with the relevant regulations.
Withdrawal of foreign currency assets
Foreign currency assets can be withdrawn from the account in the bank’s branch offices for the purpose of per diem for business trips abroad.
Necessary documents for residents:
- Request for business trip abroad per diem withdrawal, signed by the authorized person
- Copy of the company's order for business trip abroad
Necessary documents for non-residents:
- Request for business trip abroad per diem withdrawal, signed by the authorized person
Performing payments abroad
The bank performs foreign payments through nostro orders, using SWIFT technology and foreign accounts.
Nostro orders are the safest and the most efficient way to transfer foreign currency abroad.
If you wish to execute a foreign payment, you should submit the following documents to the bank:
- Foreign payment order (download)
- A copy of the invoice, pro-forma invoice, contact or other relevant document proving the foreign obligation, or a copy of the appropriate loan application for credit business operations.
Collecting payments from abroad
Collection of foreign currency from abroad is performed by means of a loro order – the safest and the most efficient instrument of international payment operations for inflow of funds.
If you are expecting a foreign currency inflow from abroad, in order for the inflow to be quickly and accurately forwarded to your foreign currency account, please request at your branch office the appropriate payment instruction depending on the currency and the country of collection, which you will submit to your foreign partner or which you may state in your invoice, pro-forma invoice as well as in foreign trade contracts.
Collecting foreign cheques
If your international partners do not perform payments via bank transfers but pay for the goods exported or services provided by means of foreign currency cheques, you can hand them in at the counter in any Banca Intesa branch office around the country.
The cheques will be forwarded abroad to a wide network of our partner banks to be cashed in in the shortest possible period.
You will be notified on the inflow of assets on the same or the next day the bank collects the assets. The collected assets will be payed to your foreign currency account as soon as you submit to the bank the inflow schedule.
Foreign currency purchasing and selling
Sale of currency from the Bank pool
The bank offers to all its clients the possibility of buying foreign currency from the bank at the most favorable market conditions. When buying foreign currency from the bank, a client should submit a Foreign currency purchase request, based on which the authorized bank dealer determines the price and makes calculation which are, with payment instructions, delivered by e-mail or fax (depending on the client) in shortest time possible, so that the clients may execute their obligations as efficiently as possible.
The foreign currency purchase request should include the type of currency, amount, and purpose of the purchase i.e. the intended purpose of the funds, as well as the stamp and signature of the person authorized to dispose of the requesting party’s funds.
In addition to the above, if the purchased foreign currency is used to perform a specific payment abroad, the client should state if it is necessary to receive a copy of the SWIFT message (confirmation that the payment was performed).
The bank offers to all its clients the possibility to sell foreign currency through separate e-banking solution. In order use this solution, the client only needs to have the internet connection.
Purchase of foreign currency from the client’s foreign currency account
The bank offers to all its clients the possibility to sell to the bank the foreign currency from their foreign currency accounts at favorable market conditions. When selling foreign currency to the bank, a client should submit a request for sale of foreign currency. In the shortest time possible, the bank transfers funds in dinars to the client’s current account.
The request for sale of foreign currency should include the amount and the currency of the foreign currency funds that are sold, the number of the current account with Banca Intesa to which the dinar counter value of sold foreign currency is paid and the signature of the authorized person from the list of foreign currency authorized signatories with the bank, including the appropriate stamp presented on opening of the foreign currency account.
The bank offers to all its clients the possibility to sell foreign currency through separate e-banking solution. In order to use this solution, the client only needs to have the internet connection.
Conversion of foreign currencies
- We offer the conversion of foreign currencies at favorable market conditions and without commission, in accordance with the Banca Intesa exchange list and current movements in the international financial markets.
- Term purchase and sale of foreign currency (Forward)
We have at your disposal:
- Currency forward contract - enables you to agree with the bank the purchase or sale of a currency from the bank’s exchange list for dinars or other currency at a desired date in the future;
- Covered currency forward contract - enables you to purchase currency from the dinar exchange list at a more favorable exchange rate, whereas the payment in dinar counter value is made on the same day the forward contact is concluded, while you receive the purchased currency on a specified date in the future. It is not necessary to sign the general contract or agree on limit amount in order to conclude the covered currency forward contract.
