Transactional account for international payments | Societe Generale Montenegro
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Transactional account for international payments

Documentation required to open this account  

Depending on the type of company organization additional documentation may be required: 

  • Excerpt from Central Registry of the Commercial Court
  • Decision on registration with the line ministry
  • Decision on Tax Identification Number (TIN)
  • Decision on appointing the authorized persons
  • Balance sheet and profit and loss account for the last two calendar years 

International payments 

Societe Generale Montenegro has a long tradition of international payment operations. As a member of Societe Generale Group, the bank has developed correspondent relations with a wide network of global banks.

Advantages

Societe Generale Montenegro offers the following advantages:

  • organization of payment operations in accordance with global standards,
  • payment by SWIFT technology,
  • execution of all operations at a shortest possible notice (within 48 hours),
  • receipt of orders by e-mail.
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Payments from abroad – LORO remittances 

To enable fast and correct funds inflow to accounts with Societe Generale Montenegro, you need to submit to the principal abroad the bank’s instruction that you will receive from Account Officer the following data:

  • full name and address of the company,
  • IBAN number,
  • SWIFT address of the bank: PDBPMEPG
  • transaction purpose,
  • other details if needed.

Payments to abroad – NOSTRO remittances 

It is necessary to submit:

  • request or order for payment (Form 1450) certified and indicating the transaction purpose,
  • Bank’s instruction with the data on account and recipient bank,
  • valid documentation – invoice, pro forma invoice or agreement, depending on transaction purpose
  • and to provide coverage for account and pay commission in accordance with the Bank’s tariff.

The Bank will execute the transaction in the shortest possible notice and will inform you by sending you the copy of SWIFT message.

To avoid additional costs of foreign bank, it is necessary to obtain from your partner abroad IBAN and SWIFT address and state them in your payment order (Form 1450/1451).

State if the costs will be calculated in accordance with the options OUR, SHA or BEN which mean that:

  • all commissions paid by correspondent banks which process the payment will be paid by the principal - OUR
  • commission charged by the principal bank will be paid by the principal and the commission of the beneficiary bank will be paid by the beneficiary (shared commission) – SHA
  • all commission charged by the correspondent banks will be paid by payment beneficiary  - BEN 

FEES

If you want to know the price terms of products and services, see the tariffs.

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