Term Plan for the Execution of Domestic and International Payment Transactions OD-PL-O-001 Ver010915 The term plan sets out the time limits, methods and other circumstances of executing payment transactions of resident and non-resident legal entities, entrepreneurs and natural persons (hereinafter referred to as the Client) at OTP banka Srbija a.d. Novi sad (hereinafter referred to as the Bank). Particular terms used in the present document shall have the following meaning: Time of payment order receipt the moment when the Bank received the payment order or the day agreed between the Bank and the Client as the day of commencing execution The day when the Bank completes the transaction Value date Working day Branch Office working hours Head Office working hours Business day the day of crediting or debiting each day apart from Sundays and bank holidays designated as a non-working day in the Branch and Head Office schedule published at the website www.otpbanka.rs and displayed at the Branch Office premises designated for work with Client's in accordance with the Working Hours Schedule Decision of the Executive Board of OTP Banka Srbija a.d. Novi Sad working day or part thereof in which the Bank operates so as to enable the execution of payment transactions Announcement of cash disbursement - the Bank is entitled to determine an amount above which Clients shall be requred to submit the Bank a money order in advance. If the Client submits a money order above the amount established by the Bank, it shall be deemed that the money order has been submitted for execution on. The Client may submit a payment order to the Bank 30 calendar days prior to the date of execution the earliest. Orders with a future date of execution shall be recorded by the Bank and performed on the date of execution. The Bank shall not be liable for payment orders submitted in advance in case of a change in the persons authorized to dispose over the account balance. Payment orders issued based on bills of exchange shall be executed in line with the applicable regulations on bills of exchange and coercive collection, as well as the NBS's coercive collection term plan. The Bank may execute a payment order after the time established as the end of a Business day if the technical requirements for such execution are met. The Bank's Business day for executing domestic external payment transactions may not be longer than the business day of the National Bank of Serbia. The Bank warrants payment execution within the designated time limits only regarding correct payment orders. A correct payment order shall be an order with appropriate coverage on the payer's account with the Bank in the payment currency for the payment and fees, and also meeting other requirements set out in the Bank's General Terms and Conditions of Payment Services. The Bank shall refuse to execute incorrect orders. If the order execution has been refused, it shall be deemed that the order has not been received at all. Order revocation: The Client may stop a payment order by revoking their consent for payment execution or a series of payment executions on the day of execution until the moment when the Bank sent the order for execution the. The Bank reserves the right to deviate from the above time limits in extraordinary situations. Extraordinary situations shall be all force majeure events and other unforeseeable circumstances rendering the Bank technically unable to execute a submitted correct order. The Bank shall not be liable for incurred damages in cases of delay in execution of a correct order due to extraordinary situations.
I. Domestic RSD payment transactions Table 1 Non-cash RSD payment orders in paper form Date: Saturday Method of execution Internal External Internal External Time of order receipt The last 2 hours of the Branch Office The last hour of Branch Office, until 17:30 the The last 2 hours of the Branch Office Branch office Table 2 Non-cash RSD electronic payment orders Date: Method of execution Time of order receipt The Head Office, until 18:45 the Internal 1 After 18:45 External, clearing The Head Office, until 17:00 the After 17:00 The Head Office, until 17:30 the External RTGS Saturday Internal Until 12:00 Internal 12:00-24:00 Sunday External, clearing 00:00-24:00 External RTGS 00:00-24:00 Table 3 Orders for RSD cash payments into and out of an account received at the Branch Office counter Date: Payment form Time of order receipt Saturday into an account with the Bank into external accounts Branch office The last two hours of Branch Office, until 17:30 the On the Branch office into an account with the Bank into external accounts Branch office From the beginning until 2 hours before the end of Branch Office Branch office ATM's - available 24 hours over the entire year. POS terminals for cash disbursement at the Bank's Branch Offices - available during the the Branch Office 1 For internal transactions between two retail accounts the time of order acceptance is 0-24 each day, with a time of execution on the same day. 2
II. International payment transactions and domestic foreign currency transactions A. Payments Table 4 FX payment operations non-cash international payment transactions in EUR and RSD and domestic payment transactions in EUR Order type Time of order receipt Value date 2 Payment order in paper form Until 12:00 h (T+0) + 1 working day (T+1) + 2 working days (T+2) from 12:00 until the end of Branch Office Until 13:00 h (T+0) + 1 working day (T+1) + 2 working days (T+2) E-bank orders 3 from 13:00h to 24:00h Saturday, Sunday and bank holidays Table 5 FX payment operations non-cash international payment transactions and domestic payment transactions in other currencies Order type Time of order receipt Value date² Payment order in paper form Until 12:00 h from 12:00 until the end of Branch Office the Until 13:00 h the E-bank orders³ from 13:00h to 24:00h Saturday, Sunday and bank holidays 2 If the value date of foreign correspondent banks is a non-working day, the value date shall be the next first working day 3 Only for legal entities and entrepreneurs 3
Table 6 Foreign currency payment operations - internal transactions Order type Time of order receipt Value date² Until 15:00 h Payment order in paper form 4 from 15:00 until the end of Branch same as the date of execution Office E-bank orders 5 from 15:00h to 24:00h the same as the date of execution Until 15:00 h B. Inflows: Saturday, Sunday and bank holidays same as the date of execution If the Bank was approved a payment transaction amount and if the Bank receives all information necessary for crediting the beneficiary's account until 14:30, the Bank shall credit the beneficiary's account on with a value date corresponding to the date of approving the amount on the Bank's account. If the Bank was approved a payment transaction amount and if the Bank receives all information necessary for crediting the beneficiary account after 14:30, the Bank shall credit the beneficiary account on the next day with a value date corresponding to the date of approving the amount on the Bank's account. If the beneficiary allocates the inflow to an end receiver with another domestic bank, the terms of execution shall be the ones set out in Tables 4 and 5 depending on the currency. C. Other foreign currency operations of residents and non-residents Type of operation Time of order receipt Buyout of foreign currencies (paper or e-banking order) 6 Until 15:30 Purchase of foreign currencies (paper or e-banking order) 6 Until 15:30 Conversion of funds on foreign currency accounts 6 Until 15:30 D. Cash transactions (transactions in effective foreign money) Type of operation Time of order receipt Until 15:30 Cash deposits 6 from 15:30 until the end of Branch Office Cash disbursements⁶ Until 15:30 from 15:30 until the end of Branch Office 4 For transactions between two retail accounts the date of execution corresponds with the Branch Office 5 For transactions between two retail accounts the time of execution shall be 6 The date of execution for retail clients is on 4
In international payment operations with several participants performing payment operation services the Bank guarantees the value date only up to the first participant performing payment operation services. The real deadline for crediting the beneficiary's account depends on the direction of funds towards the beneficiary's bank, the term plans of correspondent banks and the beneficiary's bank. In regard to payments up to EUR 50,000.00 to beneficiaries/foreign banks in the European Union: The Bank forwards a copy of the MT103 swift message containing the order execution date and the value date. The account with the foreign Bank is going to be credited in two days from executing the payment order; The amount is going to be transferred to the beneficiary's account within two days from the day of order execution; The beneficiary's bank credits the beneficiary's account the in two days from receiving the funds from the Bank, in line with its internal procedures; The Bank will charge a fee for executing orders to foreign bank accounts, as well as the costs of executing payments to foreign bank accounts with a possible OUR charge option in accordance with the effective Fees and Provisions Tariff. An invoice shall be issued to the Client for the rendered services; Should the Client's foreign currency account not have sufficient funds in EUR, so that it is necessary to make a conversion, the Bank shall separately inform the Client on the performed conversion and the applied exchange rates; In the event of potential complaints based on foreign payment operations, the Bank shall take all reasonable measures aimed at resolving them and provide the Client with sufficient information in line with the General Terms of Business for Payment Transactions of Legal Entities, Entrepreneurs and Natural Persons. 5 Vaša OTP banka www.otpbanka.rs Verujemo jedni drugima Info centar: 07004800 400 021480400