Cross currency payment and collection service

Enables the processing of payment and collection operations in cases where the currency of payment is different from the currency of the paying account (for payment operations) or the currency of the beneficiary account (for collection operations).

Advantages

  • No extra fees, other than the fees related to the payment or collection operation, which are set depending on the currency of the payment order and the destination of the payment/source of collection.
  • Flexibility, through the automatic conversion from/into the currency of the bank account associated with the collection/payment operation.
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Features

  • Available for payment operations on paper;
  • The foreign exchange rate used: The Reference Exchange Rate of BCR;
  • Deadline for processing: 13:00;
  • Examples:
    • payment operations: the bank's customer initiates a payment operation, ordering the bank to perform the transfer of an amount in a currency (such as EUR) that is different from the currency in which the paying account is open (such as RON);
    • collection operations: the bank's customer receives a collection operation relating to an amount in a currency (such as USD) that is different from the currency in which the beneficiary account is open (such as RON).
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Costs

  • Zero fee for the cross currency payment and collection service;;
  • The fees associated with the payment operation are those included in the Standard rate of BCR fees for individuals, while their level can be adjusted depending on bank policy.

*The Reference Exchange Rate is the exchange rate used by BCR to perform any foreign exchange (buy or sell, as applicable) and is the exchange rate provided by BCR, as it is displayed within our Banking Units for the exchange house ("the BCR Reference Exchange Rate"). The BCR Reference Exchange Rate is found within the limits of the following formula: The BNR Reference Rate, valid on the day of the foreign exchange operation, to which BCR applies a margin of +/- 10%.

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