Payments

Foreign currency and BGN payments

The bank executes transfer orders within the following terms:

• To perform a credit transfer and/or direct debit in BGN, the bank accepts payment documents (transfer orders) on paper or submitted through the “Online banking” service, registers them in the accounting system in the order of their reception, specifying a reference number, date, hour and minute, and where the payment document does not specify a date of execution, executes them as follows:

1. through BISERA - for amounts below BGN 100 000 with a current value date - the date of their receipt, provided that the payment documents have been received by the bank by 2:30 p.m. on a business day;
2. through RINGS for amounts exceeding BGN 100 000 and/or for express payments in BGN - with a current value date - the date of their receipt and within one hour of their receipt, provided that the payment documents have arrived at the bank by 3:00 p.m. on a business day;

Payment documents received after the specified hours are processed with a value date of the next business day.

• To perform a credit transfer in a foreign currency, the bank accepts payment documents (transfer orders) on paper or submitted through the “Online banking” service, registering them in the accounting system in the order of their receipt, specifying a reference number, date, hour and minute. If the payment documents are received by the bank by 3:00 p.m. and no execution date is specified therein, transfer orders are executed by the bank depending on the client's wishes, the currency and the applicable payment system, as follows:

1. with a value date not later than the next business day - for transfers ordered in euro on the territory of the European Economic Area;
2. with a current value date – for express transfers, carried out at the option and discretion of the bank, for which an additional fee is collected pursuant to the Bank's Tariff;
3. with a value date of up to two banking days from the date of their receipt – for transfers that are not ordered pursuant to item 1 and item 2.

Payment documents received after the specified time are considered received on the next business day.

For the execution of transfer orders in BGN or in a foreign currency, the client pays fees and commissions pursuant to the current Tariff for the terms and conditions, interest rates, fees and commissions applied by Municipal Bank AD to its operations.

Payment Services Offered by the Bank

Payment Systems for the Execution of Payment Services

PSP – banks and other payment service providers

Note: Municipal Bank AD executes the listed transfers by taking into account the participation (reachability) of the recipient’s PSP in the respective systems, including when processing instant euro transfers.