International transfers and payments

How does it work?

1. The following transfers are regarded as international transfers:
   • Transfers in euros to/from countries within the European Economic Area (EEA), Andorra, Guernsey, Jersey, Isle of Man, Monaco, Switzerland, San Marino and Vatican City that do not correspond to the definition of European transfer;
   • Transfers in euros to/from countries outside the EEA, Andorra, Guernsey, Jersey, Isle of Man, Monaco, Switzerland, San Marino and Vatican City;
   • Transfers in other currencies, including to/from other banks in Belgium.        
2. At BNP Paribas Fortis, you can complete an international transfer in various ways:
   • A normal transfer: settlement on day + 2 (taking into account the cut-off time or the acceptance deadline for the various currencies);
   • An urgent transfer: same-day settlement (taking into account the cut-off time);
   • An international standing order, as is the case for payments in Belgium;
   • Payment by bank cheque in US dollars (USD) (check on correspondent abroad);
   • Confirmation of international transfer by telephone, fax or e-mail at time of execution;
   • Transfer with memo date: transactions to be executed at a later date (up to 180 days in advance).

Advantages

• The expertise of our support teams and our extensive international network;
• Rapid processing thanks to the automation of processes and lean administrative management;
• Flexible execution: we handle dozens of currencies, including the renminbi;
• A high degree of reliability thanks to the highly secure Swift network (Society for Worldwide Interbank Financial Telecommunication);
• By issuing your transfers, you can control the date on which your account is debited and are able to plan your cash flow.
• Choice of 'payment path': thanks to our presence in over 50 countries, we have access to all inter-bank clearing systems and are therefore able to choose the fastest, most efficient and most relevant payment path for your transaction – which is even more important if you are operating in countries outside Europe.
• Solutions and mechanisms for protection against the currency risk associated with certain countries and certain currencies.
• Extended time slots: we are active in several time zones and are able to delay the deadline for acceptance of your payment orders.
• Comprehensive, accurate and detailed reporting in various formats, Belgian or international, such as the SWIFT format: you can monitor your financial transactions closely.
• Optimal security and protection of your international transactions completed via BNP Paribas Fortis, because the bank blocks those transactions which may form the subject of financial sanctions.
• Compliance with legislation: execution of orders issued to the bank complies with European and American regulations.

Good to know

• To ensure correct, fast payment, systematically quote your BIC and IBAN on your invoices: doing so will reduce the risk of errors made by your debtors.
• Charges may vary from one country to another. The three options for the distribution of charges are as follows:
  • Shared charges (SHARED): the most common option, also used within SEPA. An international transfer to one of the EEA countries is always executed on the basis of shared charges: each counterparty pays its own bank charges. In other words, you will only have to pay charges incurred in Belgium.
  • Charges payable by the beneficiary (BEN): the bank deducts transaction charges from the amount transferred.
  • Charges payable by the originator (OUR): the beneficiary has to pay certain charges on the amount received in its entirety.
• Any transaction denominated in USD passes through the United States and is therefore subject to American legislation.
• Consider opening an account abroad to be closer to your customers and suppliers and to access local payment products.
• Some countries, companies and persons are subject to an embargo and/or form the subject of special instructions which impact international payments as a result of certain European regulations and American sanctions.
• As part of its statutory obligations and its risk management policy, BNP Paribas Fortis blocks in its computer systems any transaction that directly or indirectly concerns a party or country subject to sanctions.
• Each transaction forms the subject of specific approval and may be refused because the bank is not authorised to execute it or due to a lack of information.
• You can visit the following sites at any time to see an updated list of parties and countries:
• Subject to European sanctions:
  http://eeas.europa.eu/topics/sanctions-policy/8442/consolidated-list-of-sanctions_en
• Subject to American sanctions: http://www.ustreas.gov/offices/enforcement/ofac http://www.ustreas.gov/offices/enforcement/ofac/sdn/
• Countries and/or currencies subject to specific instructions:
  Visit https://cashmanagement.bnpparibas.com/cg