International Payment Transactions
Foreign transfer (clean payment): With SWIFT you receive your payments quickly and securely. SWIFT stands for the Society for Worldwide Interbank Financial Telecommunication. More than 7,600 banks and financial institutions in over 200 countries are connected to this telecommunications system.
The Savings Bank Finance Group works worldwide with experts from numerous correspondent banks.
Bank cheque: You present the bank cheques you receive for credit to your giro account or foreign currency account. These are as a rule bought immediately "due payment provided".
Personal cheque: You should only accept personal cheques form customers with excellent credit ratings. We then collect the proceeds of the cheque for you abroad.
Foreign transfer (clean payment): In order to process your foreign transfers quickly, we use the SWIFT system, to which over 7,600 banks and financial institutions in over 200 countries are connected. SWIFT stands for the Society for Worldwide Interbank Financial Telecommunication.
The Savings Bank Finance Group works worldwide with experts from numerous correspondent banks.
In the Single Euro Payments Area (SEPA) you can make your international euro payments more easily, more securely and faster. On the basis of common standards, we process your euro payments cost-effectively and efficiently. Payments in EUR within the European Union (EU) and to Iceland, Liechtenstein, Norway and Switzerland are basically now no different to domestic payments.
The new SEPA transfer is basically similar to the EU standard transfer previously used, but without its limit of EUR 50,000. For the SEPA transfers you need the IBAN and BIC or Swift code of the beneficiary, as before.
Bank cheque: You will receive from us a bank cheque in EUR or a foreign currency, as you wish, which you can send (via us if required) or personally hand over to your supplier.
Personal cheque: If you have agreed with your business partner, you can pay for your imports using a crossed cheque in EUR or a foreign currency. You will receive from us a bank cheque in EUR or a foreign currency, as you wish, which you can send (via us if required) or personally hand over to your supplier.
The foreign currency account provides you with costing certainty when you have to pay for goods and services in a foreign currency or receive foreign currencies.
Your benefits:
- With the help of this account you can process all receipts and payments in the foreign currency.
- The foreign currency account also allows you to regularly make foreign currency transactions and investments in foreign securities and time money.
- clear rules for foreign transactions
- You can use your foreign currency funds by payment order in foreign trade.
- Your foreign transactions are credited as book money. It is therefore not possible to receive the money in cash.
The foreign currency account also provides you with the option of presenting cheques in the account currency for credit. Possible account currencies:
- AUD–Australian dollar
- CAD–Canadian dollar
- CHF–Swiss franc
- DKK–Danish krone
- GBP–British pound
- JPY–Japanese yen
- NOK–Norwegian krone
- SEK–Swedish krone
- USD–US dollar
- Other currencies upon request
Account management: It is not possible to overdraw on the account balance
Features International Cash Management:
- Allows you to optimally manage accounts with foreign banks (worldwide).
- Provides you with your foreign bank account information.
- Sends your account information to foreign banks to your central treasurer.
- Communicates with accounts in the domestic payment system of the respective country.
- Uses the SWIFT formats MT 101 and MT 940.
Your benefits:
- worldwide account management from one location
- quick information on financial status
- efficient planning
- optimal liquidity planning with currency overviews and planning data
- convenient, electronically-assisted treasury
- full integration into our SFirm banking programme with the GlobalCash and Cash International modules
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