Foreign

Foreign payment transactions

„Respected clients, we hereby inform you that BBI has changed payment instructions for EUR and USD currency.  

Earlier payment instructions for transactions in EUR currency through correspondent bank KBC NV Belgium and in USD currency through Privredna banka dd Zagreb, are no longer valid.

You can ask for detailed payment instructions in the closest BBI branch–office or via e-mail info@bbi.ba. 

Thank you for understanding, 
Bosna Bank International

Foreign payment transactions include collections, payments and transfers from the basis of current and capital operations in foreign means of payment, and in BAM between residents and non-residents, pursuant to legal provisions.

In order to make foreign payment to abroad or to a non-resident's account in the country, it is necessary to do the following:

• Submit properly completed Payment Order (Form 1450)
• Enclose document that is the basis for payment (invoice, pro-forma invoice, contract and etc.)
• Provide security for the order execution

You can submit the payment order:

• In person
• Through eBBI/mBBI

Service prices are defined with valid Tariff of fees for corporate clients of the Bank. The Bank will hold the right to change the Tariff for risk or complex transactions.

Payment to abroad

In order to make foreign payment to abroad or to a non-resident's account in the country, it is necessary to do the following:

• Submit properly completed Payment Order (Form 1450)
• Enclose document that is the basis for payment (invoice, pro-forma invoice, contract and etc.)
• Provide security for the order execution

When completing the Form 1450, it is necessary to state IBAN of the beneficiary and SWIFT address of the beneficiary's bank, in order to avoid additional costs of foreign banks.
 

IBAN is a unique international identifier of a client's bank account, designated in accordance with international standards of the European Committee for Banking Standards ISO 13616. IBAN is entered without blanks or spaces.

BIC – Bank Identifier Code or a SWIFT address is a unique international code of the bank.

Option OUR, SHA - Costs for international remittances

OUR option: The ordering party shall bear all banking expenses in the country and abroad. This implies that the transfer beneficiary will receive a complete amount indicated on the 1450 order, and the Bank of the ordering party shall charge the client's account for total expenses after a certain period of time, once request for collection is received from foreign banks.

SHA option: Divided expenses. Therefore, the ordering party paid banking expenses at its own bank and the banks shall reduce other expenses from submitted amount for the beneficiary in the execution process.

What is T+0 and T+1?

BBI is offering a service of determining payment order to abroad that is charged additionally with valid Tariff for services to corporate and retail clients. If the client does not indicate T+0 or T+1 on the payment order, T+2 standard will be applied automatically.

Explanation of terms:

• T+0: transaction date + 0 working days (submit order until 12 hrs)
• T+1: transaction date + 1 working day (submit order until 14 hrs)
• T+2: transaction date + 2 working days (submit order until 15 hrs)

International inflows

International inflows are processed on the same day when orders are received by a foreign bank, with approval of the client's account with the currency date, indicated on the order/date when the Bank's account was approved with a current account of a foreign bank.

The Bank immediately approves international inflows to the client's account in the inflow currency and submits notification on recorded inflow to the client by e-mail.

For the purpose of faster and cheaper reception of international inflow, it is necessary to submit a correct payment instruction to the foreign partner for the international inflow, indicating a number of your foreign-currency account, that is, IBAN, our SWIFT address – BBIBBA22 and intermediary foreign bank.

You can receive payment instructions at the organizational unit where you established your business relationship with the Bank. Complete and precise instructions provide easier processing of inflows and faster disposal with funds.