- when choosing a payment instrument as a form of payment insurance for various types of international transactions,
- when choosing the most appropriate banking association, which affects the speed and costs of transferring funds
- when assessing business risks in international transactions based on credit rating and other business information,
- appropriate cost options, payment structure and other payment instructions,
- according to your wishes and needs, we prepare reports, certificates, obtain and forward information to other (Slovenian and foreign) banks, forward information abroad and resolve complaints, implement special arrangements and inform you about the practices of foreign banks and innovations in payment systems.
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CROSS-BORDER AND OTHER PAYMENT TRANSACTIONS
For everyone who receives payments every day and settles obligations with business partners from abroad and within Slovenia in all currencies of member states and third countries - companies, entrepreneurs, private individuals, associations, consumers.
Today, there are few companies that limit themselves to the domestic market, and business with foreign countries has strengthened even more after Slovenia's entry into the European Union. That is why Nova KBM has prepared a wide selection of high-quality and competitively priced services in cross-border and international business, through the use of the following instruments: credit payments, nostro bank checks, and instruction checks.
Cost and time efficiency of execution of payments
Nova KBM is a direct participant in the European payment systems TARGET2 and SEPA and maintains relations with a wide network of banks all over the world, and according to the needs of its clients, it is always ready to establish new ones.
In our applications, automatic IBAN BIC control is established when the recipient's account is listed in the IBAN structure.
Cross-border payment transaction
It is a payment transaction in which the payer's payment service provider and the payee's payment service provider perform payment services for the payer and the payee in the territory of different Member States*. A payment transaction is executed cross-border even if the same payment service provider performs payment services for the payer in one Member State and for the payee in another Member State.
* A member state is an EU member state or a signatory state to the EEA Agreement.
* A member state is an EU member state or a signatory state to the EEA Agreement.
Regulated cross-border payment transaction
A payment transaction between the two member states* containing the following information:
- payment amount in EUR, SEK, and RON (Nova KBM d.d. does not make non-cash payments in RON currency),
- the recipient's account listed in the IBAN structure
- recipient's bank indicated by BIC (SWIFT) code,
- SHA cost payer option, which means that each participant pays the costs of his bank, which enable automatic (STP) processing of the payment order.
Other payment transaction
They are transactions that are executed in any currency if the payment transaction is executed by transferring funds between at least one payment service provider that provides payment services in the territory of the Republic of Slovenia and a payment service provider that provides payment services in the territory of a third country.
SEPA payment
Payment with features: amount in EUR, SHA cost option, outgoing payments up to and including 50,000.00, incoming without limit of amount, recipient's account in the IBAN structure, payer's/recipient's banks listed with BIC (SWIFT) code must be participants of the SEPA payment system (from the SEPA area), the payment order may contain additional fields that are specific only to this payment system: recipient ID, payer ID, final creditor ID, final debtor ID and End to End ID or payer reference code.
Payment cost options: SHA, BEN and OUR
Three different types of charges: SHA, BEN and OUR, determine the payer of the charges related to the transaction. The cost option is agreed upon by the business partners, i.e. the buyer (payer) and the supplier (recipient of payment), when concluding the transaction.
The SHA option is the most common in practice and means that all transaction costs incurred on the side of the sending bank are paid by the payer, and the costs incurred on the side of the receiving bank are paid by the payee, which means that the paying bank is the amount of the inflow compensation deducted (immediately or subsequently) from the amount of the transfer. In this case, the payee also pays the costs of intermediary banks.
The BEN option means that all costs of the transaction (of the payer's bank, any intermediary banks and the payee's bank) are borne by the payee.
The OUR option means that all costs of the transaction (the payer's bank, any intermediary banks and the payee's bank) are borne by the payer.
Nova KBM executes cross-border transactions within the scope of the legally permissible method: that is, with the SHA cost option, but in no case with the OUR and BEN cost options, as they are not legally allowed.
The SHA option is the most common in practice and means that all transaction costs incurred on the side of the sending bank are paid by the payer, and the costs incurred on the side of the receiving bank are paid by the payee, which means that the paying bank is the amount of the inflow compensation deducted (immediately or subsequently) from the amount of the transfer. In this case, the payee also pays the costs of intermediary banks.
The BEN option means that all costs of the transaction (of the payer's bank, any intermediary banks and the payee's bank) are borne by the payee.
The OUR option means that all costs of the transaction (the payer's bank, any intermediary banks and the payee's bank) are borne by the payer.
Nova KBM executes cross-border transactions within the scope of the legally permissible method: that is, with the SHA cost option, but in no case with the OUR and BEN cost options, as they are not legally allowed.
We advise
Universal Payment Order (UPN)
Cost and time efficiency of payment execution: Nova KBM is a direct participant in the European payment systems TARGET2 and SEPA and maintains relations with a wide network of banks around the world, and according to the needs of its clients, it is always ready to establish new ones. Established automatic control of IBAN BIC in the case of cross-border and other payments in all currencies, when the recipient's account is listed in the IBAN structure.
Universal Payment Order (UPN)
A payment order is an instruction to the payer's bank, with which the payer or payee orders the execution of a payment transaction.
The UPN form is a universal payment order and can be used as a paper form for domestic, cross-border, and other payment transactions in euros:
The UPN form consists of a payment order and a voucher as proof of payment. The payment order contains:
You can find more information about the introduction of the universal payment order on the website of the Association of Banks of Slovenia, where you can also find a free UPN printout program.
Universal Payment Order (UPN)
A payment order is an instruction to the payer's bank, with which the payer or payee orders the execution of a payment transaction.
The UPN form is a universal payment order and can be used as a paper form for domestic, cross-border, and other payment transactions in euros:
- for non-cash payments (credit payments),
- for cash payments (money transfers in cash),
- for a cash deposit (deposit of cash proceeds to a payment account at the parent bank) and
- to withdraw cash.
The UPN form consists of a payment order and a voucher as proof of payment. The payment order contains:
- the upper part, which contains fields about the payer, namely: the payer's account number (IBAN), codes for the deposit or cash withdrawal, payer's reference, payer's name and address, payment purpose code, payment purpose/time limit, payment urgency indicator, space for payer's signature and (optional) stamp,
- the middle part, which contains fields about the recipient of the payment, namely: payment amount in EUR, payment date, recipient's bank identification (BIC), recipient's account number (IBAN), statement information in connection with the OCR line printout, recipient's reference, name, and recipient address,
- the lower part, which is intended for the payment service provider's entries about the service provided and for the optical recording of data (OCR line).
You can find more information about the introduction of the universal payment order on the website of the Association of Banks of Slovenia, where you can also find a free UPN printout program.
Transactions worth 15,000 EUR and more: data on the purpose of the transaction and the recipient
In accordance with the Act on the Prevention of Money Laundering and Financing of Terrorism (ZPPDFT), when conducting transactions worth 15,000 EUR and more (individual or several clearly connected transactions), the bank is obliged to obtain information about the purpose of the transaction and the recipient.
Payment orders should contain the following information:
Payment orders should contain the following information:
- information about the purpose of payment or the intended nature of the transaction (e.g. invoice no..., contract on..., advance payment for..., preliminary invoice no...),
- complete information about the recipient: first and last name, permanent residence or name, and registered office of the person to whom the transaction is intended (street, house number, town, and country).
Restrictive measures
On the basis of legal requirements and business decisions, the new KBM fully takes into account the restrictive measures introduced by the international community against entities (legal entities, natural persons, companies, states, or others, depending on the adopted measure).
In its operations, the bank strictly follows the EU/FBE, UN, and OFAC list of restrictive measures. Compliance with the restrictive measures is expressed in the form of a complete ban on business: Nova KBM does not establish business relationships or carry out payment transactions with entities that are placed on the specified lists of restrictive measures.
Based on a business decision, Nova KBM does not enter into a business relationship or carry out transactions with legal or natural persons that are in any way directly or indirectly connected to Syria, Sudan, North Korea, Cuba, Iran, or the area of Crimea, Donbas (Donetsk and Luhansk regions), regions Kherson and Zaporizhzhia in Ukraine.
In its operations, the bank strictly follows the EU/FBE, UN, and OFAC list of restrictive measures. Compliance with the restrictive measures is expressed in the form of a complete ban on business: Nova KBM does not establish business relationships or carry out payment transactions with entities that are placed on the specified lists of restrictive measures.
Based on a business decision, Nova KBM does not enter into a business relationship or carry out transactions with legal or natural persons that are in any way directly or indirectly connected to Syria, Sudan, North Korea, Cuba, Iran, or the area of Crimea, Donbas (Donetsk and Luhansk regions), regions Kherson and Zaporizhzhia in Ukraine.
