Charges applied to international payments, foreign exchange operations and documentary credit transactions

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1 Charges applied to international payments, foreign exchange operations and documentary credit transactions. International payments 2 2. Forward exchange operations 6 3. Charges for outbound foreign payments indicating without costs for the beneficiary 7 4. Collection of cheques 8 5. Collection of clean bills and receipts 9 6. Documentary Collections 0 7. Guarantees 2 8. Documentary credits 3 9. Expedition costs 5

2 Our charges are expressed in euros (2% V.A.T. not included unless specified otherwise). V.A.T. is calculated at the current rate (at present 2%) on total commissions and costs, unless ancillary to a credit operation, in which case no V.A.T. will be payable. Forward exchange operations are not subject to V.A.T. The charges listed in this leaflet do not include V.A.T.. International payments Definitions A European Direct Debit (SEPA) is an agreement between two parties (= a direct debit mandate) which allows the beneficiary of the claim (= creditor) to initiate the debit of the payer s account (= debtor). The execution of this type of payment meets the following characteristics: - The creditor s account and the debtor s account are in one of the countries as defined in A European Credit Transfer. - The transfer must be denominated in euros. - The direct debit instruction must meet the STP criteria, namely it must indicate the IBAN and the BIC of the debtor s bank. A European Credit Transfer (SEPA) is a payment with the following characteristics: - Payment where both the principal s account and that of the beneficiary are in one of the 27 EU Member States (Austria, Belgium, Bulgaria, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungry, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, United Kingdom) or in Norway, Iceland, Switzerland, Monaco or Liechtenstein. - The transfer must be denominated in euros. Other payments are called international payments. Payment execution deadlines: ING requires time to process payments and transmit payment instructions; ING transmits payments to clearing houses (e.g. EBA) or to our correspondent banks. Correspondent banks are banks abroad with which ING works to execute payments. Such foreign banks ensure that payments arrive at the beneficiary s bank via local clearing house. The total time this requires is called the payment execution deadline. ING can only guarantee up to the clearing house or correspondent bank. The execution deadline depends on various parameters of the payment. The execution option chosen, the currency of the transaction, a possible currency conversion and the country of destination. Execution options for outgoing European and international payments: Standard payment: a payment without special conditions, possible for all available currencies where: - in the case of international payments the funds arrive at the correspond bank within 2 to 3 days. - in the case of European payments the funds arrive at the beneficiary s bank within day. Urgent payment: accelerated payment execution, possible for all available currencies where: - in the case of international payments the funds arrive at the correspond bank within to 2 days. - in the case of European payments the funds arrive at the beneficiary s bank within day. Same-Day payment: a Same-Day payment is possible for all available currencies. The payment will be presented to the correspondent bank with the first possible value date. ING will apply a compensated value date, i.e. the debit value date will correspond to the date on which the correspondent bank is credited. Prio payment: a high-priority payment. Such payments are only possible for payments in euros without currency conversion, with a compensated credit and debit value date. Furthermore, in the case of international payments, the funds are credited within the hour to the correspondent bank. Value date The value date is the date on which an withdrawn ceases to yield interest and an deposited starts to yield interest. International Bank Account Number (IBAN): international form for bank account numbers to be used for European credit transfers and international payments, where appropriate. An IBAN consists of a maximum of 34 alphanumerical characters and a set length per country. It includes a country code (2 letters), a check digit (2 digits) and a domestic account number (completed for some countries). Bank Identifier Code (BIC): international code, also known as Swift address, which allows a unique identification of each bank. It includes 8 or alphanumerical characters and consists of a bank code (4 characters), a country code (2 letters), a place code (2 characters), and can be completed, for some banks, by a branch code (3 characters). Straight Through Processing (STP): - In the case of European credit transfers: payment which indicates the correct account numbers (IBAN) of the payer and the payee, the BIC (Swift address) of the payee s bank. - In the case of international payments: payment which indicates the correct account numbers (IBAN, BBAN or other) of the payer and the payee, the BIC (Swift address) of the payee s bank, and the full name and address of the payee. 2 3

3 Cost instruction - BEN/SHA/OUR The payer can indicate how the costs are distributed. There are three options: - Shared Costs (SHA): the payer pays the costs charged by his/her bank; the costs charged by the payee s bank are borne by the payee. - Our Costs (OUR costs for the payer): the payer pays the costs charged by his/her bank and the costs charged by the payee s bank. - Beneficiary Costs (BEN costs for the payee): the payer does not pay any costs. Both the costs charged by the payer s bank and the costs of the payee s bank are borne by the payee. In the case of European Credit Transfers and outgoing international payments in a currency of the EEA and in the EEA zone, only SHA is accepted. If another instruction is given, it will automatically be changed to SHA. In the case of any other international payment, SHA, BEN or OUR can be chosen. What will you be charged for an outgoing international payment? - With a SHA instruction: ING s payment commission (see point.) - With an OUR instruction: ING s payment commission + OUR costs (see points. and 3) - With a BEN instruction: no charges for the customer. ING automatically deducts the commission from the transferred. What will you be charged for an incoming international payment? - With a SHA instruction: ING s payment commission (see point.). - With an OUR instruction: no charges for the ING customer (payee). - With a BEN instruction: ING s payment commission + the correspondent bank s charges. Full principle: the full must be transferred to the payee s account Any charges possibly applicable are debited by the bank separately. This principle applies to both European credit transfers. The European Economic Area (EEA) includes the 27 Member States of the European Union, as well as Norway, Iceland and Liechtenstein.. Charge for payments from and to other countries (including postage) Credit transfers to and from an account in the EEA (including Belgium) in euros (SEPA), Swedish kronor and Romanian lei Payments in euros outside the EEA or payments in other currencies: - Payment commission: 0.% (+ V.A.T.) of the Transfers to and from an account in the EEA in Swedish kronor and Romanian lei (free between ING Belgium accounts): - up to the equivalent of 50,000 euros - above the equivalent of 50,000 euros 0 min Additional charges in the event of (outgoing) payments. Fax es and manual processing of paper transfer by the bank: - in the EEA: in euros up to a maximum of 50,000 euros - in the EEA: in euros above 50,000 euros - in the EEA: in foreign currencies - outside the EEA: in euros or foreign currencies Non Straight-Through Payments Urgent payments Same Day payments (for international payments) Prio payments (for European payments and international payments) Salary payment Payment return and rejection Payment file delivery Payment file return Payment file cancellation/withdrawal or amendment Payments by cheque issued by the bank: - issue charge - expedition charge Lack of account funding Charges for outbound international payments quoting without costs for the beneficiary (see point 3) Other costs Return of funds Cancellation, modification, search (expedition cost, Swift,...) 2 - operations of the last 2 months - other The EEA currencies are the following: euro, Bulgarian lev, Czech koruna, Danish krone, Hungarian forint, Latvian lat, Lithuanian litas, Polish zloty, Romanian leu, Swedish krona, pound sterling, Swiss franc, Norwegian krone, Icelandic krona. 4 This charge does not include the charge per operation (see the leaflets Charges applied to the main private banking operations and charges applied to the main banking operations carried out by legal entitites). 2 Foreign correspondent charges (variable) not included. 5

4 .4 Value dates Foreign payments: value date = execution date Payments from abroad: value date = the day on which the account is credited.5 Exchange rates The rate applied is based on the rates in force on the international exchange markets. The exchange rate is available via Home Bank, Self Banks and Telelink..6 European Direct Debit (SEPA)/Local Belgian direct debit (DOM80) Debtor/DOM80 - European Direct Debit / DOM80 - unjustified request for refund - request for a copy of a direct debit mandate Creditor - European Direct Debit/DOM80 - refund requested within 8 weeks (of an authorised collection) - refund requested on an unauthorised collection - confirmation of mandate activation (not for DOM80) - paper remittance (only for DOM80) (with a min. of 2.48 per batch) ( per remittance) 2. Forward exchange operations As of When concluding the contract When contract is extended - forward exchange commission Forward exchange contract with option on maturity - forward exchange commission: see above - flat fee per contract and any extensions min. max Charges for outbound international payments quoting without costs for the beneficiary (OUR) Aruba, Belgium, Bonaire, Curacao, Denmark, Finland, Iceland, Ireland, Morocco, Portugal, Sabah, Saint Eustatius, Saint Martin 2, Suriname, Sweden, United States Andorra, Australia, Austria, Bosnia and Herzegovina, Bulgaria, Canada, China, Croatia, Egypt, France, Germany, Greece, Hong Kong, Hungary, Italy, Jordan, Lebanon, Luxembourg, Malaysia, Mauritius, Namibia, Netherlands, New Zealand, Norway, Peru, Philippines, Poland, Russia, Serbia, Slovenia, Spain, Ukraine, Vietnam, Yemen, Switzerland Albania, Angola, Belorussia, Botswana, Brazil, Burundi, Cyprus, Czech Republic, Estonia, Great Britain, Guernsey, India, Indonesia, Isle of Man, Israel, Ivory Coast, Jamaica, Jersey, Latvia, Liechtenstein, Lithuania, Macedonia, Malta, Montenegro, Mozambique, Oman, Pakistan, Reunion, Romania, San Marino, Singapore, Slovakia, South Africa, South Korea, Sri Lanka, Taiwan, Tanzania, Thailand, Tunisia, Turkey, United Arab Emirates, Uruguay Afghanistan, Algeria, Anguilla, Argentina, Armenia, Bahamas, Bahrain, Barbados, Bermuda, Brunei, Cameroon, Cayman Islands, Chad, Chile, Ecuador, Gabon, Ghana, Guinea, Japan, Kazakhstan, Kenya, Kuwait, Macau, Madagascar, Maldives, Moldavia, Monaco, Nepal, New Caledonia, Nigeria, Paraguay, Puerto Rico, Qatar, Saint Kitts and Nevis, Saudi Arabia, Senegal, Swaziland, Trinidad and Tobago, Turks and Caicos Islands, Uganda, Zambia and the rest of the world The exchange margin differs according to the currency. In the case of European credit transfers and outbound international payments in a currency of the EEA and in the EEA zone, only SHA is accepted. If another instruction is given, it will automatically be changed to SHA. 2 The Dutch part. 3 Payments to the following countries are not accepted: Syria, Iran, Cuba, North Korea, Myanmar and Sudan. 6 7

5 4. Collection of cheques 5. Collection of clean bills and receipts 4. Imports As of 5. Imports As of Cheques issued by an ING customer to pay a foreign creditor Processing fee, per cheque 4.2 Exports As of Cheques payable abroad or by debiting a foreign account received in settlement of payment by an ING customer and presented for collection. min. Bills drawn by a foreign creditor who, as presenter for collection, will pay the collection costs, unless stipulated that costs are to be borne by the counterpart in Belgium. Presentation for payment - collection commission - bills domiciled with a bank, per bill or receipt - bills not domiciled with a bank, per bill or receipt - payment commission - amendment commission, per amendment.25 min. min max. min. max Processing fee, per cheque Expedition costs 2, per cheque Correspondent costs Except for Traveller s cheques: see Charges applied to the main banking operations of private individuals leaflet. min. min according to country and correspondent Presentation for acceptance or regulisation, per bill Returned before presentation - collection commission, per bill Remittance free of payment, per bill Bills - unpaid: collection commission (see above) + protest costs if any - not accepted or not regularised: presentation fee (see above) + protest costs if any - cancellation of protest + + Expedition costs, per bill 5.00 Costs to be borne by the ING customer 2 See also 9. Expedition Costs, Courier Service. See also 9. Expedition Costs, Courier Service. 8 9

6 5.2 Exports As of Bills drawn on foreign debtor and presented for collection by ING customer. Presentation for payment, acceptance and/or regularisation - collection commission, per bill - payment commission - additional tracer, per enquiry - amendment commission, per amendment - correspondent bank costs: according to country and correspondent - returned before presentation: collection commission, per bill Remittance free of payment - per bill - correspondent banker costs: according to country and correspondent expedition costs, per bill 6. Documentary Collections 6. Import Documents presented by the foreign supplier of the drawee. As a rule, the foreign remitter bears the collection cost, unless stipulated that the costs are to be borne by counterpart in Belgium. Commissions (including a basic communication charges package) Collection commission (For D/P & D/A collections) Acceptance commission (For D/A collections only) min. min % on the, min , max min., Services (including a basic communication charges package) Amendment Tracer Remittance free of payment Returned before presentation Returned unpaid or not accepted Protest Delivery order issued after receipt of remittance Delivery order issued before receipt of remittance and after receipt of provision Payment statement collection commission + acceptance commission (For D/A) collection commission + acceptance commission (For D/A) legal charges Export Documents payable by a foreign importer and presented for collection by an ING customer Commissions (including a basic communication charges package) Collection commision Services (including a basic communication charges package) Amendment Tracer Advice of fate Remittance free of payment Return before presentation Return unpaid or not accepted 0.25% on the, min min., collection commission + collection commission + See also 9. Transmission Costs, Courier Service. 0 D/P = Documents against Payment D/A = Documents against Acceptance Including usual SWIFT messages and ordinary mail charges in Belgium.

7 7. Guarantees 7. Guarantees in general As of Guarantees issued by order of an ING customer for the purpose of a credit facility Guarantee commission, per quarter Fee for opening dossier Fee for amending or extending In the event of a call on the guarantee Guarantees issued by order of an ING customer for the purpose of an individual transaction Guarantee commission, per quarter Fee for opening dossier - s up to 2,500 euros - in excess of 2,500 euros Fee for amending or extending - s up to 2,500 euros - in excess of 2,500 euros In the event of a call on the guarantee Please note: For urgent and/or customised applications: special rates, please contact your Account Manager Guarantee by order of a foreign bank in favour of an ING customer. If stipulated that the costs are to be borne by the beneficiary Guarantee commission, per quarter - up to 2,500 euros - in excess of 2,500 euros Fee for opening dossier Costs for amending or extending min min. min min min min min. min min..25 min min min min min Guarantees for missing bill of lading As of Guarantees by order of an ING customer Commission to secure guarantee for missing bill of lading, per month - for st month - from 2 nd to 6 th month - from 7 th to 2 th month 2 3 min. Guarantees by order of a foreign bank in favour of an ING customer. If stipulated that costs are to borne by the beneficiary. Guarantee commission, per month min. min. 8. Documentary credits 8. General principles. Documentary credits processed by ING are subject to the Uniform Customs and Practice for Documentary Credits. 2. The fees indicated in this leaflet can be cumulated, according to the features of the documentary credit. The fees are, in principle, to be borne by the importer-applicant. However, these fees are to be borne by the beneficiary if expressly indicated in the documentary credit. Services provided at the request of the beneficiary of a documentary credit (silent confirmation, transfer, availability, negotiation for the purpose of a credit which is available through negotiation, etc.) are to be borne by the latter. 3. Fees which remunerate the credit risk taken by ING vary according to the risk. 4. Monthly or quarterly fees are charged in advance, each period commenced being due in full. 5. Where appropriate, the correspondent banker s costs, postage, transmission and communication costs as well as payment commissions are charged on top. Advising of a guarantee issued by a foreign bank (without guarantee or liability on the part of ING). Costs to be borne by the beneficiary Advising charges Plus expedition costs, see item 9. Publication n 500 of the International Chamber of Commerce, 993 avaible upon request from your ING office. 2 3

8 8.2 Import Charges for reimbursment at another bank Fixed fees (including a basic transmission charges package) Issuance fee - in case of a non-electronic issue application Amendment fee Examining fee Commissions Opening commission Utilisation commission Commitment commision (for acceptance/deferred payment LCs) A percentage per quarter, min % (basic rate) on the of the presentation, min per set of documents A percentage per month, min min., 8.3 Export Flat fees (including a basic transmission charges package) Advising fee Amendment fee Examining fee Commissions Utilisation commission Confirmation commision Silent confirmation commission Commitment commission (for (silently) confirmed acceptance/deferred payment LCs) % (basic rate), on the of the presentation, min per set of documents A percentage per quarter, min A percentage per quarter, min A percentage per month, min min., In Belgium Outside Belgium Credit transfer fees As of Transfer fee Utilisation fee Miscellaneous commission Arrangement fee Discrepancy fee Pre-examination fee 9. Expedition costs on documentary credits - not included in ING s basic charges Extra SWIFT Ordinary mail - Europe - outside Europe Registered mail without documents Registered mail with documents - Belgium - Europe - outside Europe Courier service - Europe - outside Europe Fax message to be fixed case by case to be fixed case by case to be fixed case by case min min Including the MT 700 SWIFT message upon opening, usual SWIFT messages and one registered mail in Belgium upon utilisation. Unless specified otherwise in the above items. 4 5

9 The list of charges is not binding. As dealings between ING and its customers are based on mutual trust, ING always reserves the right not to commit itself. 2. ING reserves the right to change its lists of charges in compliance with the legal and statutory provisions in force. In the event of any amendment, a new leaflet will be published showing its date of publication. Our leaflets are dated. Request the most recent leaflet from your branch. 3. The charges listed in the leaflets are basic charges. They may be derogated from by a special agreement concluded between ING and the customer in the case of larger operations or in the event of special situations. Any additional and/or personalised information, in particular relating to credits may be obtained at any ING branch. Other lists of charges available to customers are: Charges applied to the main banking operations of private individuals Charges applied to the main banking operations carried out by legal entities Charges applied to the main securities transactions. Publisher: Philippe Wallez Cours Saint-Michel 60, B-040 Brussels Z4587E - / - ING Belgium SA/nv Bank avenue Marnix 24, B-000 Brussels Brussels RPM/RPR VAT: BE BIC: BBRUBEBB IBAN: BE

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