Payment and collections from abroad

By using SWIFT application, through wide network of correspondents, we perform transfers with the same value date.

During international payments, it is necessary to submit a payment order and a copy of cleared foreign invoice, pro-forma invoice or foreign contract.

Payment order should be filled out in accordance with the Law on Foreign Exchange Operations and Instruction for Conduct of Decision on Conditions and the Manner of Payment, Collection and Transfer on Current and Capital Activities in foreign currency and Dinars.

While filling out of the payment order, pay attention that the foreign partner provides accurate Banking Identification Code, better known as Swift code of the bank of the final user and complete IBAN account in order to automatically process your payments without additional expenses.

As a domestic legal entity, you may submit the payment order in person, via fax, by mail or by e-banking service.

BIC or better known as "SWIFT Code", ", has 8 alpha-numerical characters (in case of headquarters of a bank) or 11 characters (in case of a branch office).

  • First 4 characters represent the code of the bank
  • Following 2 characters represent the code of the country where the bank is locate
  • Following 2 characters represent the code of the city
  • Last 3 characters represent the code of the branch office

IBAN initiative has been launched in 1996 by European Committee for Banking Standards (ECBS) to help in solving inefficiency and high expenses related to lack of standards in payments between countries (cross-border payments). The goal of IBAN is to increase the efficiency in payment between countries in the sense of expenses, speed and quality. If you are doing business with countries which have finalized IBAN standards you need the IBAN account of the user abroad.

How to check if the IBAN account of your foreign partner is correct?

On www.apacs.org.uk/payments_industry/ibans_4.html you may check if the IBAN account of your foreign
partner is correct. You need to type in the complete account (first two characters of IBAN account are always
letters of the alphabet), without spaces and press the sign “check”. If the account is not valid, contact your foreign
partner in order to process the payment without foreign expenses and the risk of return of the order due to faulty
data.

Collection from abroad

More detailed instruction for directing FX inflow onto your account regarding certain currencies (EUR, USD, CHF, GBP...) can be obtained in the nearest branch or you can call us at the following phone numbers:

+381 21 48 00 532
+381 21 48 00 578

Processing of collection from abroad is not charged.

Upon receiving the SWIFT message with respect to all the inflows received from abroad up to 15.00 hours, OTP banka shall communicate to the exporter the Announcement on effected collection within the same business day. The exporter shall, within the next 24 hours, advise the bank as per foundation of collection and the beneficiary of the collection. Following the submission of those details in the form of filled Announcement as per effected collection, the bank shall process the inflow with the value date from the swift message. Please, contact us at the following telephone as for opening loro letters of credit and vostro guaranties:

+381 21 48 00 188
+381 21 48 00 807