Payment Services, International money transfers

In its international payments business, ProCredit Bank Serbia benefits from the extensive experience of Commerzbank, a major German commercial bank and one of its shareholders.

As a result, clients doing business abroad can rely on us to carry out all of their international payment transactions promptly and correctly.
Moreover, our terms and conditions for such services are competitive and the rates we charge for them are flexible.

ProCredit Bank supports its clients with the following services:

• foreign currency accounts in EUR, USD, CHF and GBP
• purchase and sale of foreign currency at favourable rates
• simple and efficient execution of your foreign currency transactions all over the world
• letters of credit and guarantees
• generation of account statements at your request and issuance of all types of certificates
• encashment of foreign cheques
• execution of conditional transfers
• disbursements for business trips, as an advance payment prior to the trip or in the form of reimbursement for expenses incurred

Our SWIFT address is PRCBRSBG.

What is necessary for international payments?

• Completed transfer order (form 1450)
• Documents proving the obligation to pay a recipien located abroad (invoice, pro-forma, invoice, contract) in cases where legal regulations so require
• The full amount to be transferred.

What do I need to know in order to fill out the transfer order form?
For all international transfers to EU countries, it is recommended to state the IBAN (International Bank Account Number) of the beneficiary, as well as the SWIFT/BIC address of the beneficiary`s bank.

What is the currency conversion date of the transfer order?
Transfer orders abroad are executed on the spot date, i.e. two working days after the date on witch the funds for payment were deposited and all documentation has been submitted. On this date, your account at ProCredit Bank will be debited and the funds will be transferred to the recipient`s bank account, unless different date has been agreed.

You can submit transfer orders abroad at every ProCredit branch. Transfer orders submitted before 1 pm will be executed the same day at the spot exchange rate, unless the client or sender ordering the transfer has requested that the transfer be executed on a different date.

When will the transferred money be available for the recipient?
The recipient’s bank will make the funds available in accordance with its internal business policy. In most banks, the funds are available either on the same day or within two days.

What is the fee for transfers abroad?
The fees for transfers abroad are stated on the official price list of ProCredit Bank. If the sender bears all expenses, the bank calculates the fees in advance and issues the invoice with payment instructions. In the event of subsequent calculation of expenses by the intermediary bank (e.g. due to a rejection, insufficient instructions, etc.), ProCredit Bank will inform the client about the expenses incurred and deliver the invoice with payment instructions. In cases involving currency conversion, ProCredit Bank’s exchange rates are applied.

Whom can I contact if I have a complaint?
In accordance with the bank`s General Business Regulations, complaints or requests for reimbursement of losses incurred can be sent in writing to the following address: ProCredit Bank, c/o Organisation Department, 17 Milutina Milankovica, 11000 Belgrade.

Correspondent accounts
ProCredit Bank Serbia maintains correspondent accounts with four major international banks:

• Commerzbank AG, Frankfurt
• Deutsche Bank AG, Frankfurt
• Standard Chartered Bank, Frankfurt
• Standard Chartered Bank, New York (formerly American Express Bank Ltd., New York)

ProCredit Bank Serbia is one of nine ProCredit banks operating successfully in South-Eastern and Eastern Europe, which together serve 250,000 customers and have combined assets of nearly EUR 800 million.

Clients whose international business operations involve transfers to or from other countries in South-Eastern Europe can benefit from "ProPay", the payment system established by the ProCredit group in the region. Through this system, payment orders can be carried out on favourable terms and conditions among the thirteen ProCredit banks network in South-Eastern Europe and Africa.

Map of ProCredit Bank

The ProCredit banks in the other countries are also owned by strong international shareholders, including ProCredit Holding and Commerzbank AG, based in Frankfurt.