International payments
An international payment is an order to pay a specified amount of money to an indicated beneficiary:
a so-called instruction to transfer funds abroad addressed to a foreign bank/ an import payment order / an outgoing payment addressed to a domestic bank or
a so-called instruction to transfer funds from abroad received from a foreign bank/ an export payment order / an incoming payment order.
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the fastest and easiest form of settlement in international business;
low cost of service;
an option to negotiate the exchange rate.
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The currency of an international payment addressed to/ received from a foreign bank can be either the domestic currency or a foreign currency whereas with payments to another domestic bank – it is a foreign currency.
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The types of international payments offered by Nordea Bank Polska S.A.:
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regarding the meeting of specified conditions by the beneficiary:
unconditional – the beneficiary is not bound to meet any specified conditions;
conditional – the beneficiary is bound to meet some specified conditions.
regarding the type of payment:
Ordinary Payment - a so-called standard payment;
Nordea Payment (NP) – when the ordering customer’s and the beneficiary’s accounts are maintained with banks from the Nordea Group;
Nordea Intracompany Payment (NIP) – when the ordering customer and the beneficiary are members of the same group and their accounts are maintained with banks from the Nordea Group.
“Cut-off times Table for International Payments”):
express – the value date is the same business day as the day on which the payment order was placed (D+0);
urgent – the value date is the next business day after the day on which the payment order was placed (D+1);
standard – the value day is the second business day after the day on which the payment order was placed (D+2).
An outgoing payment order:
is made either to a foreign currency account or to a PLN account
may be placed by the ordering customer on paper (the „Cross-border payment order application” is filled in) or through the electronic access channels. The Bank is not responsible for any consequences of the inaccurately completed payment order.
if executed in a currency other than the currency of a payment order, it is settled at the sale rate applicable in the Bank upon settlement (cf. Table of Exchange Rates for Non-cash Transactions in Nordea Bank Polska S.A.). In this case, the Bank is not responsible for any losses resulting from the adoption of a different rate by the ordering customer than the one applied by the Bank. The settlement can be carried out at a negotiated exchange rate but in order to do so, the ordering customer must have a relevant agreement concluded with the Bank.
An incoming payment order:
is effected to a banking account, in cash or by cheque.
the account of the beneficiary, who is a customer of the Bank, is credited with the indicated value date if all of conditions of the settlement are met
the beneficiary, who is a customer of the Bank, may be informed about the incoming funds in his favour by electronic channel
the beneficiary, who is a customer of the Bank will be informed about the receipt of the money by phone, subject to password check.
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