VUB foreign payment system includes
- processing of credit transfers sent to VUB from abroad,
- processing of credit transfers sent from VUB abroad or to other Slovak bank in a foreign currency,
- processing of cheques (bank, private)
Benefits of VUB Bank
- extensive network of correspondent banks,
- participation in the SWIFT network,
- distribution channels of your choice - branches or electronic distribution channels (Internet Banking, Internet Banking Plus, Business Banking, Kontakt)
- many years of experience of bank employees in the foreign payment system,
- membership in international banking group IntesaSanPaolo.
Clean payments from abroad
VUB Bank will make a payment on the basis of a documents received from a foreign bank. If sufficient data are provided in the document, the payment is processed through online crediting to the client’s account on the currency exchange date, no later than on the working day following the receipt of the document.
VUB Bank credits payments from abroad to client’s account using the exchange rate applicable at the time of processing, in the amount specified by the foreign bank. Payments in countervalues exceeding the limit specified by the bank (overlimit transactions) are processed using an individual exchange rate.
Basic data necessary to make a payment from abroad to a client of VUB bank via the SWIFT network:
- Bank name:
- Všeobecná úverová banka, a. s.
- Mlynské Nivy 1
- 829 90 Bratislava
- Swift address of the bank: SUBASKBX
- Beneficiary's account number, including bank code 0200
- Full name and address of the beneficiary
- Payment purpose (e.g. invoice No. XXX for goods, a gift, etc.)
Payments from abroad via cheque
VUB Bank accepts all types of bank and private cheques issued by a foreign bank, other institution, or a person in a foreign currency or in EUR.
Bank and private cheques have limited maturity and must be submitted within the deadlines set by law (Act no. 191/1950 Coll. on Bills of Exchange and Cheques). They must also comply with the other requirements under this Act. A cheque is submitted by the cheque owner, i.e. to the order of whom it is issued. If the cheque owner is immobile, the owner will sign the cheque on the back side in the presence of a notary who will draw up a report. An authorized person may then present the cheque in VUB Bank together with the report and the mandate to represent.
The cheques are issued by banking institutions. If the bank can verify the signatures of the cheque issuer according to the specimen signature, or will verify the cheque coverage via S.W.I.F.T. at the client’s request, the cheque may be paid immediately upon submission. If it is not possible to verify the signatures of the cheque issuer or its coverage, VUB Bank will take the cheque for non-binding collection.
The cheques are issued by non-banking institutions, or legal or natural persons. Coverage or issuer signatures cannot be verified for these cheques, therefore VUB Bank takes them only for non-binding collection. The cheque value is paid to the client only after the payment is credited by a foreign bank. VUB Bank makes the payment of the cheque accepted for collection to the client’s account using the exchange rate valid on the date, when the payment was credited by a foreign bank, and in the case of cash using the current exchange rate.
Clean payments abroad
Clean payments abroad are made on the basis of a properly completed payment order submitted by a client, which must be financially covered. A client can submit a payment order:
- personally (payment order, FPO web form)
Web form - Foreign payments
- through electronic distribution channels (Business Banking, Multichannel, Multicash)
VUB Bank will ensure processing of a payment order on the day of its submission, if a client submits a payment order in the electronic form by 3:00 p.m. or in the paper form by 2:00 p.m. If a client submits a payment order after the specified time, the bank will process the payment order on the day of receipt, no later than on the next working day.
VUB bank debits funds from client’s account online, using the exchange rate applicable at the time of payment order submission. If maturity date other than the date of the payment order submission is specified in the payment order, the funds will be debited from the payer’s account using the first exchange rate applicable on the maturity date. If funds are debited from the payer’s account on a date other than the date of submission, the funds will be debited using the first exchange rate applicable on the current banking day. Payments in countervalues exceeding the limit specified by the bank (overlimit transactions) are processed using an individual exchange rate.
What is a Non-SEPA transfer
Non-SEPA transfer is a payment transaction:
- a transfer in a FC within and outside the EU and EEA (except for transfers within VÚB, a.s.)
- a transfer made in EUR outside the EU and EEA countries
- a transfer in EUR made outside VUB within EU and EEA that does not meet the conditions of SEPA-Eurotransfer
- an urgent transfer made in EUR and a FC within and outside the EU and EEA (except for transfers within VÚB, a.s.)
We make Non-SEPA transfers only from current accounts, on the basis of a completed Payment Order presented at the Branch on the Payment Order form, on forms accepted by us or submitted electronically. We do not accept written payment orders delivered by mail, unless otherwise agreed with you.
A transfer type according to your needs
an urgent transfer – a transfer made on the maturity date through SWIFT with the exchange rate valid on the current banking day, on which the correspondent bank or beneficiary's bank has the means for the beneficiary on the processing date
a standard transfer – a transfer made through SWIFT as a standard, where the correspondence bank or beneficiary’s bank has the beneficiary’s funds at its disposal with the exchange rate date + 2 banking business days after the date of payment order receipt and processing, no later than 5 banking business days after the date of payment order receipt and processing (D+4).
We make the transfer through
- swift - payments sent through the SWIFT system by the S.W.I.F.T. company – The Society for Worldwire Interbank Financial Telecommunication, which allows communication among financial institutions in Slovakia and abroad.
- a cheque issued in VÚB, a. s. - payments are made through a bank cheque in the following currencies: CAD, DKK, EUR, GBP, CHF, JPY, NOK, SEK, USD. A bank cheque may only be issued only to a beneficiary abroad, and cannot be submitted to the beneficiary for the purpose of payment of the cheque value directly at VUB Bank, since cheques are payable in foreign banks. The bank cheque is sent abroad via registered mail, or taken over personally by the client on the client request, or sent to the address of a branch via registered mail, where the client will collect the cheque and will sign the cheque acceptance.
- a cheque issued by a foreign bank - payments are made through SWIFT in the EUR, USD and AUD currency to the relevant correspondent bank that will issue the cheque and send it to the beneficiary.
Options of the fee instruction
When making payments abroad or domestic payments, the client will specify the settlement method of fees of VÚB, a. s. and foreign or domestic banks on the payment order by selecting one of three options:
- SHA - fees of VUB Bank are paid by the payment payer and fees of correspondent banks and the beneficiary's bank are borne by the beneficiary of the payment. Transfers with the SHA fee instruction may be reduced by the fees of correspondence banks and of the beneficiary's bank.
- OUR - fees of VUB Bank, fees of correspondent banks and the beneficiary's bank are paid by the payer. The whole amount of a transfer with the OUR fee instruction will be credited. Transfers with the OUR instruction will be made as follows:
- for standard transfers in the EUR currency to EU and EEA countries with the OUR fee instruction without conversion on the payer’s account, the OUR fee instruction will be changed to the SHA fee instruction during processing,
- in case of transfers in the currencies of the EU and EEA countries (except for EUR currency with conditions specified in the previous paragraph) with the OUR fee instruction to the EU and EEA countries (including the Slovak Republic) and to Switzerland, we debit from your account, in addition to the transfer, the guaranteed OUR fee without any additional charging of fees of other banks,
- in the case of transfers in other currencies outside the EU and EEA countries and in currencies of the EU and EEA countries sent outside the EU and EEA countries and Switzerland, the other banks' fees for the OUR instruction can be charged also additionally,
- BEN - fees of VUB Bank, fees of correspondent banks and the beneficiary's bank are borne by the beneficiary of the transfer. A transfer with the BEN fee instruction may be reduced by fees of VUB Bank and fees of correspondent banks and the beneficiary's bank. Transfers with the BEN instruction will be made as follows:
- in the case of transfers sent in EUR, CZK, DKK, GBP, HRK, HUF, HRK, CHF, NOK, PLN, RON and SEK (hereinafter “the currencies of the EU and EEA countries”) to the EU and EEA countries (including the Slovak Republic) with the BEN fee instruction without conversion in the beneficiary’s account, we will change the fee instruction from BEN to SHA during processing,
- transfers sent in the currencies of the EU and EEA countries to the EU and EEA countries (including the Slovak Republic) with the BEN fee instruction with conversion in the beneficiary’s account will be made with the BEN instruction,
- transfers in AUD, CAD, JPY, TRY and USD (hereinafter only the "other currencies outside the EU and EEA countries") to and outside the EU and EEA countries and in CHF outside the EU and EEA countries will be made without any changes to the fee instruction. If no fee instruction is specified in the payment order, the payment order will be executed with the SHA fee instruction.
Cut-off times for submission of a payment order
- until 3:00 p.m. for execution of a standard transfer on the day of submission of electronically submitted payment order;
- until 2:00 p.m. for execution of a standard transfer on the day of electronically submitted payment order;
- until 3:00 p.m. for execution of a payment order in the form of an urgent transfer in EUR within the EU and EEA countries to banks involved in Target2 on the day of submission of electronically submitted payment order;
- until 2:00 p.m. for execution of a payment order in the form of an urgent transfer in EUR within the EU and EEA countries to banks involved in Target2 on the day of payment order submission at a branch;
- until 11:00 a.m. for execution of an urgent transfer in the EUR currency to banks which are not included in Target2 or are not in EU or EEA and in FC on the payment order submission day.
Web form for foreign payment system
The web form to fill in a Foreign Payment Order in Electronic Environment. It can be used for transfers in foreign currencies, for transfers to beneficiaries outside VUB and for transfers in EUR to countries outside the EEA (European Economic Area) as well as paper payment orders for payments abroad. Payments are charged according to the VUB Bank Price List as an international payment order submitted at a branch.
After completing the Payment Order in Electronic Environment form, print the form, sign it duly and submit it at a VUB bank branch in the paper form. Make a photocopy of the payment order for your needs. To use the web form, Adobe Reader 9.0 or a newer version must be installed.
Payments in selected foreign currencies
In the area of the foreign payment system, VUB Bank allows - in addition to payments in EUR and other basic foreign currencies - also execution in more than 100 selected foreign currencies, in which a client can make various payments for goods, services, wages, contributions or donations almost all over the world.
Benefits for clients
- extended possibilities in the area of the foreign payment system,
- standard completion of a foreign payment order
- transfer to the beneficiary's bank with a foreign currency on the next working day
- no additional fees associated with the transaction, fees for a payment abroad in accordance with the current Price List of VUB Bank
- information about the fixed exchange rate foreign currency/EUR applicable on the current working day - available at VUB Bank branches.
Submission of a payment order
At a branch:
- a foreign payment order
- the FPO web form (A web form to fill in a Foreign Payment Order in Electronic Environment). After it has been completed, print the form, sign it duly and submit it at a VUB bank branch in the paper form. Make a photocopy for your needs. To use the web form, Adobe Reader 9.0 or a newer version must be installed.
- through Multichannel (Internet Banking, Mobile Banking, Call Centre)
Processing of a payment order
- VUB Bank will ensure processing of a payment order on the day of its submission, if a client submits it in thepaper form by 2:00 p.m. and electronic form by 3:00 p.m..
- If a client submits a payment order after the specified time, the bank will process it only on the following working day, applying the exchange rate of the processing date – foreign currency/EUR
- Payments are charged according to the VUB Bank Price List as an international payment order submitted at a branch or entered electronically. The client’s account from which the payment will be debited must be maintained in the EUR currency.
Specific requirements before a payment is made
Payments in selected foreign currencies must be sent in accordance with foreign exchange regulations (directions) of the corresponding country. Otherwise a foreign bank is entitled not to make the payment and return it to the sender’s account. In accordance with the foreign exchange or banking regulations of individual countries, the beneficiary is obliged to provide documents - if they are required by a correspondent bank or a beneficiary's bank.
Payments to the specified countries require specific data before execution; a client is obliged to specify the data in a payment order:
- Brazil - BRL currency
- Colombia - COP currency
- CHile - CLP currency
- India - INR currency
- Kazakhstan - KZT currency
- Mozambique - MZN currency
- Peru - PEN currency
- Uruguay - UYU currency
- Venezuela - VEF currency
List of countries with their currency:
|Country||Currency code||Currency name|
|Bulharsko||BGN||bulharský nový lev|
|Holandské Antily||ANG||antilský gulden|
|Hong Kong||HKD||hongkongský dolár|
|Izrael||ILS||izraelský nový šekel|
|Južná Afrika||ZAR||juhoafrický rand|
|Južná Kórea||KRW||juhokórejský won|
|Nový Zéland||NZD||novozélandský dolár|
|Papua Nová Guinea||PGK||papuánska kina|
|Saudská Arábia||SAR||saudský rial|
|Srí Lanka||LKR||srílanská rupia|
|Šalamúnové ostrovy||SBD||dolár šalam.ostrovov|
|Taiwan||TWD||taiwanský nový dolár|
|Trinidad,Tobago||TTD||dolár Trinidadu a Tobaga|
|Venezuela||VEF||bolivar fuerte venezuelské|
IBAN and BIC
Correct use of IBAN and BIC when making international transfers within the EU
IBAN - International Bank Account Number is an internationally standardized form of an account number, which was created in collaboration with the European Committee for Banking Standards, and which uniquely identify the account, the country and the banking institution of the beneficiary.
IBAN is a combination of capital letters and numbers with the following structure:
- 2 capital letters – country code (e.g. IT – Italy, SK – Slovakia, AT – Austria...)
- 2 characters – control digits allowing programmatic check of an account number
- up to 30 characters – bank code, account number – account prefix and main account number
IBAN can consist of at most 34-character combination of characters and digits. In the written from, the IBAN is separated by spaces in groups of 4 characters; the spaces between character groups are left out in the electronic form.
Written form: SK33 0200 0000 0000 0001 2351
Electronic form:: SK3302000000000000012351
IBAN for Slovakia always contains 24 characters
|Country code||Control digits||Account number|
|SK||33||0200 0000 0000 0001 2351|
|two digit country code||two digit code||bank code, account prefix, account number|
List of European Union countries and European economic area countries:
Belgicko, Bulharsko, Cyprus, Česká republika, Dánsko, Estónsko, Fínsko, Francúzsko, Grécko, Holandsko, Chorvátsko, Írsko, Island, Lichtenštajnsko, Litva, Lotyšsko, Luxembursko, Maďarsko, Malta, Nemecko, Nórsko, Poľsko, Portugalsko, Rakúsko, Rumunsko,Slovensko, Slovinsko, Španielsko, Švédsko, Taliansko, Veľká Británia + Švajčiarsko
IBAN structure example in EÚ countries and EHP
|Country||Number length||IBAN structure example|
List of other countries, which requires IBAN
|Country||Number length||IBAN structure example|
|Bosna a Hercegovina||20||BA3912900794010XXXXX|
|Izrael||23||IL62 0108 0000 0009 99XX XXX|
|Macedónia||19||MK072 5012 0000 0XXX XX|
BIC - Bank Identifier Code = the swift code of the bank
IBAN is a combination of capital letters and numbers with the following structure:
- BIC consists of a combination of 8 or 11 characters - upper-case letters or digits, without spaces
- The swift code of VUB bank is SUBASKBX
|Bank name code||Country code||Registered office code||Branch code|
|four digit unique code||two digit country code||two digit registered office code, it can consist from two numbers, or two letters (even their combination)||three digit branch code|
For all fees related to the VUB account, refer to the current price list.