This Info Sheet of Citibank Europe plc, a company established and existing under the laws of Ireland, with its registered office at North Wall Quay 1, Dublin, Ireland, registered in the Company Register in the Irish Republic under No. 132781 (hereinafter the Bank ), contains information about time limits for delivery of a payment order, about maximum time limits for completing payment transactions and other useful information, not only from payment services area, for clients of the Bank s branch in the Czech Republic Citibank Europe plc, organizační složka, with its registered office at Praha 5, Stodůlky, Bucharova 2641/14, Postal code 158 02, Czech Republic, ID No. 28198131, registered in the Company Register maintained with the Municipal Court in Prague, Section A, File 59288 (hereinafter the Clients ). 1. CUT OFF TIMES FOR DELIVERY OF PAYMENT ORDER Standard Outgoing Payment Instruction Delivery Cut Off Times Payment product Electronic transactions Manual transactions (mail, fax, personal delivery) Domestic Outgoing Payment 6:30 p.m. 11:00 a.m. Domestic Outgoing Express Payment 12:00 p.m.* 9:00 a.m. Foreign Outgoing Payment** 3:00 p.m. 11:00 a.m. SEPA Outgoing Payment / SEPA Outgoing Payment - Bulk 5:00 p.m. - SEPA Outgoing Payment Express / SEPA Outgoing Payment Express Bulk 1:00 p.m. - Direct Debit 6:30 p.m. 11:00 a.m. -in a domestic currrency 6:30 p.m. 11:00 a.m. Internal Transfer within the Bank -in a foreign currency 3:00 p.m. 11:00 a.m. STP Payment*** 3:00 p.m. - Note: * One of the conditions for processing of Domestic Outgoing Express Payment is to arrange sufficient available balance on the relevant Client s account by the end of the Delivery Cut Off Time period. ** Including CZK payments abroad. Section 3 below states the information about electronic request for Foreign Outgoing Payment express processing. The payment instruction for the Foreign Outgoing Payment which is to be such expressly processed has to be delivered to the Bank within the period set out in section 3 below. *** Applicable only for Clients with pricing packages. Standard Incoming Payment Instruction Delivery Cut Off Times and Payment Processing Flow Payment product Domestic Incoming Payment Domestic Incoming Express Payment Foreign Incoming Payment beneficiary account in IBAN format beneficiary account in other format SEPA Incoming Payment Crediting the funds to the Client s account with the Bank Funds received by the Bank on the day on which the funds are received (D) on the day on which the funds are received (D) on the day on which the funds are received (D) 5:00 p.m.* on the day on which the funds are received (D) 3:00 p.m.* on the day on which the funds are received (D) 5:00 p.m.* D + 0* Note: D is the day on which the Bank receives the transferred amount from the payer s provider/correspondent bank. * In case of a Foreign Incoming Payment and a SEPA Incoming Payment, the transferred amount shall be credited to the Client s account with the Bank on the day on which the Bank receives the amount as long as the Bank obtains a confirmation - no later than 3:00 p.m. or 5:00 p.m. respectively of the same day - that the transferred amount was received in the Bank s account (payment cover). If the Bank obtains this confirmation later, the funds shall be credited to the Client s account on the following Business Day. Page 1/9
Standard Cash Payment Order Cut Off Times Transfer type: Delivery of the order to the Bank Cash Deposit in the Client s account Cash Withdrawal from the Client s account during opening hours of the branch (cash desk)* during opening hours of the branch (cash desk)* Note: * Information about opening hours of the branches is published on www.citibank.cz 2. MAXIMUM TIME LIMITS FOR PROCESSING PAYMENT TRANSACTIONS Outgoing payments (regardless of the way the payment order is delivered, unless otherwise stipulated herein) Domestic Outgoing Payment A Domestic Outgoing Payment shall be credited to the account of the payee s provider within the next Business Day after the funds from the Client s payment account have been debited, i.e. the Bank shall credit the Domestic Outgoing Payment to the account of the payee s provider in the D+1 regime at the latest. Domestic Outgoing Express Payment A Domestic Outgoing Express Payment shall always be credited to the account of the payee s provider on the day on which the funds have been debited from the Client s payment account with the Bank. Foreign Outgoing Payment in CZK or EUR currency A Foreign Outgoing Payment in CZK or EUR currency shall always be credited to the account of the payee s provider within the next Business Day after the funds have been debited from the Client s payment account, i.e. the Bank shall credit the Foreign Outgoing Payment in CZK or EUR currency to the account of the payee s provider in the D+1 regime at the latest.* * Except for manually initiated payments in EUR, which are processed in the D+2 regime at the latest. Foreign Outgoing Payment (except for Foreign Outgoing payment in CZK or EUR currency) A Foreign Outgoing Payment (except for Foreign Outgoing payment in CZK or EUR currency) shall always be credited to the account of the payee s provider no later than two Business Days after the funds have been debited from the Client s payment account, i.e. the Bank shall credit the Foreign Outgoing Payment to the account of the payee s provider in the D+2 regime at the latest. SEPA Outgoing Payment* and SEPA Outgoing Payment - Bulk* A SEPA Outgoing Payment and SEPA Outgoing Payment Bulk shall be credited to the account of the payee s provider within the next Business Day after the funds from the Client s payment account have been debited, i.e. the Bank shall credit the SEPA Outgoing Payment to the account of the payee s provider in the D+1 regime at the latest. * This payment type can be only used via electronic banking. SEPA Outgoing Payment Express* and SEPA Outgoing Payment Express Bulk* A SEPA Outgoing Payment Express and SEPA Outgoing Payment Express Bulk shall always be credited to the account of the payee s provider on the day on which the funds have been debited from the Client s payment account with the Bank. * This payment type can be only used via electronic banking. Direct Debit The Bank shall deliver the Client s Direct Debit Order in CZK currency to the payer s provider within the next Business Day after the Direct Debit has been submitted by the Client. Page 2/9
Internal Transfer within the Bank An Internal Transfer shall always be credited to the payee s account with the Bank on the day on which the funds have been debited from the Client s payment account with the Bank, i.e. in the D+0 regime. STP Payment* A STP Payment shall always be credited to the account of the payee s provider no later than two Business Days after the funds have been debited from the Client s payment account, i.e. the Bank shall credit the STP Payment to the account of the payee s provider in the D+2 regime at the latest. * This payment type can be only used via electronic banking. Incoming Payments Domestic Incoming Payment and Domestic Incoming Express Payment shall always be credited to the Client s payment account on the day on which the transferred amount has been credited to the Bank s account. Foreign Incoming Payment and SEPA Incoming Payment shall be credited to the Client s payment account on the day on which the transferred amount has been credited to the Bank s account as long as the Bank obtains a confirmation that the transferred amount was received in the Bank s account (payment cover) within the Cut Off Time for the receipt of a payment order (see above). Cash Transactions Payment orders by means of Cash Deposit and Cash Withdrawal are processed by the Bank (i.e. the amount of the payment transaction is credited to or debited from the payment account of the Client) on the day on which the order is delivered to the cash desk of one of the Bank s branches. D in this article means the day of debiting the funds from the Client s payment account with the Bank and the digit after D expresses the number of Business Days. 3. FOREIGN OUTGOING PAYMENTS electronic request for express processing Express processing of Foreging Outgoing Payment can be requested only via CitiDirect or CitiBusiness Direct electronic banking under the below specified conditions. Payment order initiated through electronic request for express processing is always processed only on the debit value (execution) date. Such Foreign Outgoing Payment is credited to the account of the payee s provider on the same day as it is debited from Client s payment account with Bank, i.e. in the D+0 regime. For express processing of Foreign Outgoing Payment there is an additional fee charged according to the current List of Charges. 3.1 Electronic request for express processing initiated via CitiDirect Following criteria have to be met when request for Foreign Outgoing Payment express processing is sent through CitiDirect electronic banking: 1) Payment currency: EUR, GBP, USD, PLN, RON or HUF 2) In the first line of the Beneficiary Bank field the respective Beneficiary Bank s SWIFT/BIC code (or SWIFT/BIC selected from the library) must be entered. If SWIFT/BIC is inputed manually, it has to be a stand-alone string of 8 or 11 characters 3) In the Other Instruction column, it is necessary to state the code SDV at the beginning of line. Page 3/9
4) Such payment instruction has to be delivered no later than on the transaction value date till the below stated delivery cut off times, as per the transaction currency: 1.00 p.m. for payments in EUR/GBP currency 2.30 p.m. for payments in USD currency 10.00 a.m. for payments in PLN/RON/HUF currency For express processing of Foreging Outgoing Payment in other available currency, Including CZK payments abroad, it is needed to contact customer service representative prior the payment order is sent and to deliver the payment order at the latest by 3.00 p.m. one business day in advance of the payment due date. Such Foreign Outgoing Payment is processed and debited from Client s payment account one business day in advance of the payment due date and is credited to the account of the payee s provider at the same day as is the payment order due date, i.e. D+0 regime. For express processing of Foreign Outgoing Payment there is an additional fee charged according to the current List of Charges. 3.2 Electronic request for express processing initiated via CitiBusiness Direct Following criteria has to be met when request for Foreign Outgoing Payment express processing is sent through CitiBusiness Direct electronic banking: 1) Payment currency: EUR, GBP or USD 2) In the line Payment Mode option Same Day Value has to be selected 3) Such payment has to be delivered no later than 12:00 pm on the transaction value date (regardless of in which currency the payment is denominated). 4. REVOCATION OF SOME TYPES OF PAYMENT ORDERS For Foreign Outgoing Payments in the express regime (SDV), the Client cannot revoke the payment order after 9 a.m. of the Business Day preceding the due day of the payment order. The express regime (non-standard Same Day Value setting) is governed by an individual contract between the Bank and the Client. Revocation of other types of payment orders is governed by General Business Conditions of Citibank Europe plc, organizační složka. 5. EEA TRANSACTIONS, FEE INDICATOR, CORRESPONDENT AND ADDITIONALLY CHARGED FEES Outgoing EEA Transactions For the purpose of this Info Sheet, an Outgoing EEA Transaction is a payment transaction (i.e. payment transaction where the Bank acts as payer s payment service provider) in a currency that is the currency of a member state of the European Economic Area (hereinafter EEA ), which is provided by the payee s payment service provider in an EEA member state. Fees for Outgoing EEA Transactions (including Outgoing EEA Transactions with currency conversion) are charged according to the SHA indicator (i.e. the Client as the payer pays the fee charged by the Bank and the payee pays the fee charged by the payee s provider). The fee charged by the Bank is listed in the Bank s List of Charges. The Client must choose the SHA indicator for any Outgoing EEA Transaction (whether or not the payment transaction involves currency conversion). For Outgoing EEA Transactions, participants in the payment transfer must not deduct any charges (e.g. correspondent fees) from the transferred funds and must deliver the full amount of transaction to the payee s final provider. Page 4/9
BEN indicator If the BEN indicator is chosen, all fees of providers participating in the payment transaction are deducted from the amount of the payment transaction. As a payer, the Client shall only pay the amount of the payment transaction, and the payee shall receive the amount minus all fees. As a payer, the Client shall not be charged any additional fees. SHA indicator If the Client opts for SHA indicator on an Outgoing EEA Transaction, the Client (payer) shall pay the fee charged by the Bank, which is the payer s provider and the payee shall pay the fee charged by the payee s provider. If the Client opts for SHA indicator on any other payment transaction (i.e. payment transaction that is not an EEA Transaction), the Client shall pay in addition to the amount of payment transaction the fee of the Bank (payer s provider), and fees of other providers participating in the payment transaction (i.e. correspondent providers and the payee s provider) shall be deducted from the amount of the payment transaction. OUR indicator Should the Client opt for OUR indicator on an Outgoing Payment, the Client shall, in addition to the amount of the payment transaction and a fee charged by the Bank as the payer s provider, also pay an OUR Fee as per the current List of Charges of the Bank (see also section OUR Fee). The OUR Fee is a fixed fee for payment of all costs relating to the execution of a relevant payment transaction, in particular fees charged by correspondent providers and the payee s provider; for this fee, all such costs are transferred to the Bank.* It is thus ensured that the payee shall be credited with the entire amount of the payment transaction. *Exceptions are: Foreign Outgoing Payments in USD, with respect to which the Bank is liable for all costs relating to the execution of a payment transaction up to the limit of USD 80,-. If the costs are higher then this limit, the amount exceeding this limit will be charged to the Client. NSTP Fee, which is charged by the Bank for Client s Foreign Outgoing Payment delivered via electronic banking without specification of BIC or IBAN, irrespective of BEN/SHA/OUR charges indicator (also see section NSTP Fee). Fees charged by the Bank additionally OUR Fee If the Client opts for OUR indicator on a Foreign Outgoing Payment (including CZK payment to abroad) (if such indicator is available according to the aforementioned rules), an additional OUR Fee shall be charged by Bank to the Client (see also section OUR indicator) according to current List of Charges. The amount of the OUR Fee is charged to the Clientwithin 5 business days from the day when the payment order is processed by the Bank. NSTP Fee If the Client initiates via electronic banking a Foreign Outgoing Payment (including CZK payment to abroad) which is directed to a bank in an EEA member state, the Client is obliged, when entering the payment instruction, to specify BIC of payee s bank and IBAN, irrespective of the transaction currency. In the case that the payment instruction delivered to the Bank does not include this information, the Client shall be charged with the NSTP Fee ( Non Straight Through Processing ) as per the current List of Charges of Bank. The NSTP Fee shall be charged to the Client within the next 5 business days after the day when the payment order is processed by the Bank. For this fixed charge, the Bank assumes liability for all costs relating to the necessity to manually process a Foreign Outgoing Payment (including CZK payment to abroad) delivered via electronic banking, which does not include the data required by the banks within the EEA member states. These costs include, in particular, the fees charged by the Bank and the payees banks for an incorrectly structured payment order. Page 5/9
For the Client to avoid this fee, it is necessary that the Foreign Outgoing Payment (including the CZK payment to abroad) delivered via electronic banking specifies the bank details of the beneficiary with the following data: 1) BIC* (SWIFT) of the payee s bank selected from the SWIFT library (CitiDirect) or, stated in the first row of the Payee s Bank field; this is a stand-alone string of 8 or 11 characters (e.g. CITICZPX). 2) IBAN* (the payee s account number in the IBAN format), which is a stand-alone number without spaces and additional characters at the beginning and at the end. The aforementioned rules apply to all Foreign Outgoing Payments (including CZK payments to abroad) which are initiated via electronic banking and which are remitted to a bank in an EEA member state, regardless of the currency of the transaction and the SHA/BEN/OUR charges indicator. * The Client should contact its business partners for information about their BIC and IBAN. If the payee s bank is specified by its BIC (SWIFT) code, no other information on payee s bank needs to be provided. If the BIC code differs from the name of the payee s bank provided by the Client, the BIC code shall be deemed decisive by the Bank for the purposes of execution of the payment transaction. The same rule applies in general to all types of payment transactions processed by the Bank. Fees deducted from the transferred amount If the Client opts for BEN or SHA indicator on an Outgoing Payment (if available according to the aforementioned rules), the amount of the payment transaction can be diminished by the fees of the bank sending the payment, payee s bank or correspondent banks. This does not apply to Outgoing EEA Transactions. For payments in USD, the fees charged by Citibank s correspondent bank (Citibank N.A., New York) are set as follows: Transaction amount in USD (from to) Fee in USD 0-100 0.00 101-1,000 15.00 1,001-10,000 20.00 10,001-100,000 25.00 exceeding 100,001 30.00 For payments in EUR, except for EUR transactions within the EEA, the fees charged by Citibank s correspondent bank (Citibank N.A., London) are set as follows: Transaction amount in EUR (from to) Fee in EUR 0-100 0.00 101-1,000 5.00 1,001-10,000 10.00 10,001-50,000 25.00 exceeding 50,001 50.00 For payments in CHF, except for CHF transactions within the EEA zone, the fees charged by Citibank s correspondent bank (Citibank N.A., Lonnon) are set as follows: Transaction amount in CHF (from to) Fee in CHF 0-1000 0.00 1001-50,000 17.00 exceeding 50,001 27.00 For payments in GBP, except for GBP transactions within the EEA, the fees charged by Citibank s correspondent bank (Citibank N.A., London) are set as follows: Page 6/9
Transaction amount in GBP (from to) Fee in GBP 0-1000 0.00 1001-50,000 10.00 exceeding 50,001 15.00 6. DEFINITIONS OF INTEREST RATES APPLIED TO CLIENT S CURRENT ACCOUNTS BASED UPON A WRITTEN AGREEMENT BETWEEN THE BANK AND THE CLIENT The credit interest rate applied to current accounts is derived from the one day Base rate (overnight money market rate), reduced by the Bank s margin as agreed with the Client. The debit interest rate applied to current accounts is derived from the one day Base rate increased by Bank s margin as agreed with the Client. However, if the Base rate stated in the previous sentence is lower than zero, then zero rate will be applied as the Base rate for the purposes of determination of the debit interest rate. Base rate for the purposes of this Article 6. means the interest rate derived from the official money market interest rates, determined for a period of one day (O/N) and published on the relevant pages in the electronic information system of the Reuters agency for the respective currency at the appropriate further specified page, wherein a) following rates will be used to determine credit and debit interest rates: for CZK currency, the PRIBOR rate published on Reuters page PRIBOR= for EUR, USD, JPY, GBP currencies, the LIBOR rate for respective currency, published on Reuters page LIBOR01 for CHF currency, the LIBOR rate published on Reuters page LIBOR02 for PLN currency, the WIBOR rate published on Reuters page WIBOR= for HUF currency, the BUBOR rate published on Reuters page BUBOR= for RUB currency, the MOSPRIME rate published on Reuters page MOSPRIME= for AUD currency, the overnight interest rate in AUD published on Reuters page AUDQMMBONZ=R for BGN currency, the overnight interest rate in BGN published on Reuters page BGNOND= for TRY currency, the overnight interest rate in TRY published on Reuters page TRYOND= b) following rates will be used to determine debit interest rates: for RON currency, the ROBOR rate published on Reuters page ROBOR= c) following rates will be used to determine credit interest rates: for RON currency, the ROBID rate published on Reuters page ROBOR= Page 7/9
7. AML INFORMATION DUTY FOR NEW CUSTOMERS AS PER ACT NO. 253/2008 COLL. ON SELECTED MEASURES AGAINST LEGITIMISATION OF PROCEEDS OF CRIME AND FINANCING OF TERRORISM Citibank Europe plc, a company incorporated and existing under Irish law, with registered seat at Dublin, North Wall Quay 1, Ireland, registered in the Company Register in Ireland Republic under number 132781, conducting its business in the Czech Republic through Citibank Europe plc, organizational unit, based at Prague 5, Stodůlky, Bucharova 2641/14, ZIP code 15802, ID 28198131, registered in the commercial register of the Municipal court in Prague, section A, File 59288 (hereinafter the "Bank") as per the Act No. 253/2008 Coll. on selected measures against legitimization of proceeds of crime and financing of terrorism as amended (the "Act"),is required to collect and process personal data of clients, persons acting on behalf of clients, the beneficial owners, members of the statutory body, representatives of the legal person (client) in this body or in a similar position of statutory body or other people within the business relationship or transaction outside business relationship, in order to prevent abuse of the financial system against legitimization of proceeds of crime and financing of terrorism and to create conditions for the detection of such a conduct. In order to meet the Bank's obligations under the Act following personal data are generally collected and processed the: 1) all names and surnames 2) birth identification number (for a person with no birth identification number a date of birth 3) place of birth 4) gender 5) permanent or other residence and citizenship 6) for a natural person as an entrepreneur it shall also mean the business name, an appendix to the business name or any other identification features, place of business, and business identification number of the person, If justified by the risk assessment under the Act in addition to personal data above other data for the identification of natural person may be be collected and processed, which are mainly telephone number, e-mail address, data about employment or employer. Personal data is collected and processed for the period of business relationship with the client and at least 10 years from the end of the year in which such a business relationship was terminated. The Bank may hand over the personal data to third parties, which are used to perform its duties according to the Act, the personal data can be transmitted in this case to the jurisdiction of other countries, which do not have strict data protection laws or do not have personal data protection regulation. List of the processors of the personal data for the purposes of the Bank's obligations under the Act can be found on the website of Citibank Europe plc, organizational unit (www.citibank.cz). Providing appropriate personal data is voluntary, but failure to provide them for the purposes of the Bank's obligations under the Act will generally mean that the Bank will not be able to provide the services or enter the appropriate deal or to be forced to terminate existing contractual relationship with the client. The data subject has right to the access to his/her personal data collected by the Bank and rights specified in 21 of the Act no. 101/2000 Coll., on protection of personal data as amended. Page 8/9
PLEASE NOTE: 1. The amount of fees charged at a later point and deducted from the transferred amount (as mentioned in Article 5 above) depends on the business terms and conditions (price lists) of the respective payment service providers participating in the transfer of funds (correspondent banks and payees payment service providers), and the Bank cannot influence them. 2. To the extent that any written agreement between the Bank and the Client differs from this Info Sheet, the provisions of such written agreement prevail. 3. This Info Sheet shall become valid and effective on March 1 st, 2017. This Info Sheet replaces the Info Sheet of the Bank effective from November 1 st, 2016. This Info Sheet constitutes a part of the conditions under which the Bank provides payment services pursuant to Act No. 284/2009 Coll., on Payment Systems, as amended. Page 9/9