Legal entities > International Payment Services
International Payment Services
International Payment Services
Since its founding in 1993 the Bank is authorised to execute foreign payment services. Customers of the Bank: residents, non-residents, domestic and foreign banks.
Instruments of foreign payment services
- Payment orders
- Incoming payment orders
- Outgoing payment orders
- Collections
- Incoming and outgoing payment orders
- Letters of credit
- Unconfirmed
- Confirmed by first-class correspondent banks
- Transferable
- Stand by
- Letters of guarantee
- Payment guarantees
- Performance guarantees
- Advanced payment guarantees
- Bid guarantees
- Cheques
- collections cheque
In modern commercial banking letters of credit and letters of guarantees are often used as instruments, which provide security equally for both parties of the business deal.
The payment orders are executed on the day of receipt, with value date the following working day.
Cut off time (deadline for supply of orders with same-day currency) 13.30 hours The foreign payment operations are executed through the SWIFT network.
| Receipt of an order | 08.30 - 16.00 h (from Monday to Friday) | |
| Foreign exchange market | 08.30 - 16.00 h (from Monday to Friday) | |
| Orders received by 15:00 h | Currency Date - Current Day | |
| Orders received after 15:00 h | Currency Date - Next Business Day |
INCOMING CREDIT TRANSFER FROM NON-RESIDENTS
Notification of incoming payment
Silk Road Bank AD Skopje will notify you of an incoming payment with the form 743, no later than the same or the next business day after the principal bank approves the funds, by e-mail or telephone. If Silk Road Bank AD Skopje cannot contact with you by e-mail or phone, you will be sent written notification of the incoming payment by registered mail.Incoming payment distribution
You are required within 5 (five) business days after the notification to deliver in any branch of Silk Road Bank AD Skopje a completed form 743, part II.If you have given Silk Road Bank AD Skopje a general authorization for completing the form 743 on your behalf and at your expense, you are required to deliver, within the same deadline, a written notification of the transaction type and the current account number on which the incoming payment should be approved.
Mandatory documents per transaction types
- Document of registration in the Direct Investments Register within the Central Register of RM for incoming payments related to dividends and other investment profits of a resident abroad or investment withdrawal
- Document of registration in the Register of Residents' Real Estate Abroad within the Central Register of RM for incoming payments related to sale of real estate located abroad owned by a resident or incoming payments related to real estate income
- Document of reporting to the Central Securities Depository about incoming payment related to issuing and introducing domestic securities abroad
- Credit application from the NBRM for the incoming payment related to principal and interest from loans approved to non-residents
- Document of temporary residence for natural persons or license from the NBRM for opening an account abroad for legal entities in order to transfer funds from an account of a resident in a foreign bank to their account in a domestic bank.
Time required for approving the recipient's current account
Silk Road Bank AD Skopje will approve the current account of the recipient no later than the same or the next business day as of the delivery of all required data and documents.OUTGOING CREDIT TRANSFER FOR NON-RESIDENTS
Performance of credit transfer
Silk Road Bank AD Skopje will perform outgoing credit transfers based on a suitably submitted order the same or the next business day at the latest. Otherwise, the order will be returned or you will be notified the following working day as of the delivery the latest.Suitable order is:
- An order made on the relevant form 1450 or 1451, duly completed with all required data (title and address of the recipient, account or IBAN of the recipient, SWIFT of the recipient's bank, amount, currency and rationale for the outgoing credit transfer) and certified,
- Along with a document presenting the liability and the credit transfer rationale
- For which MKD or FX coverage is provided with Silk Road Bank AD Skopje.
Mandatory documents per transaction types
- Current transactions – single customs document, contract, invoice, pro-forma invoice or another document
- Document of registration in the Direct Investments Register within the Central Register of RM - for outgoing credit transfers related to dividends and other investment profits of non-residents in RM, as well as transfer from bankruptcy estate and for withdrawal of capital by a non-resident from sale of shares or stocks from a domestic company of a resident, if the asset is treated as direct investment
- Investment contract (for a company with joint equity) or foundation act (for a company completely owned by a resident) certified by a notary or statement for transaction from a brokerage house – for investments made by a resident in shares and stocks of foreign companies over 10%
- Statement for transaction from a brokerage house – for outgoing credit transfer related to purchase of foreign equity securities and debt securities, portfolio investments
- Contract or another document – for outgoing credit related to purchase of real estate abroad
- Document of registration in the Register of Non-Residents' Real Estate in RM within the Central Register of RM – for outgoing credit transfer related to purchase of real estate in RM which had been owned by a non-resident, as well as outgoing credit transfer of income from real estate owned by a non-resident
- Credit application from the NBRM – for outgoing credit transfer of principal and interest from loans of non-residents
- Contract with non-resident – for outstanding credit issues (except for credit transfer of principal and interest from loans to non-residents)
- Relevant document certified by notary or emigration or working visa – for unilateral personal transfers over EUR 2,500.00
- Approval by the NBRM for transfer of funds from an account of a resident in a domestic bank to their account in a foreign bank
- Enforcement document – for credit transfer of enforcement document
- Enforcement order of an enforcement agent and enforcement document for forced collection according to an enforcement decision
- Proof of the competent body that all taxes and contributions due to the RM for the relevant capital transactions have been settled.
Time required for approving the account of the non-resident's bank
Silk Road Bank AD Skopje will approve the non-resident's bank and the outgoing credit transfer currency no later than the same or the next business day as of the performance of the order.Exchange rate applied by Silk Road Bank AD Skopje for performance of transactions
Silk Road Bank AD Skopje buys and sells FX funds according to the buying and selling exchange rates from the Exchange Rate List valid on the relevant date.Fees and other transaction costs
Silk Road Bank AD Skopje calculates and charges commission and costs, according to the Tariff of Fees published on the Bank's web-page (in attachment).he following is charged for incoming payments:
- Commission to Silk RoadBank AD Skopje and
- Commission to the principal bank or the correspondent bank, if stated in the SWIFT message.
- Commission is charged as soon as the incoming payment is distributed.
- Commission to Silk Road Bank AD Skopje and
- SWIFT cost
- Commission is charged before performing the payment.
Required documents for opening resident foreign currency account - legal entities:
- Request for opening foreign currency account - form of the Bank
- Application for persons authorized to dispose with assets on the account - form of the Bank
- Application for client identification/update
- Decision from the Trade register not older than one year
- Verified signatures of the authorized company representatives (ZP form)
- For persons authorized for opening and working with account - written authorization siged by the legal representative and personal ID document of the person which is to be authorized
- Copy of identification documents of persons authorized to work with the account
Required documents for opening non-resident foreign currency account - legal entities:
- Request for opening non-resident account - form of the Bank
- Request for opening account on a memorandum of the legal entity
- Extract from the Trade Registar or eny other registar in the country of the non-resident not older than 3 months
- Warrant for authorized person for opening or work with the account
- Application for client identification/update
- Identification documents of the authorized persons
- Contract concluded with the Bank.
DOCUMENTS AND FORMS
Find the documents you need here.- Order for executing payment order abroad and for opening letter of credit
- Tariff for fees and comissions
- Main correspondents
- Instructions for payment
- Instructions for Incoming payment orders
- Payment authorization
- Authorization for incoming MKD payment orders
- Authorization for incoming FX payment orders
- General Terms and Conditions for establishment of business relation with Silk Road Bank Skopje
- Fee Schedule for VIP Non-Resident Clients