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.
Regulated cross-border payment transaction
A payment transaction between the two member states* containing the following information:
- payment amount in EUR, SEK, and RON (OTP banka 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.
*A member state is an EU member state or a signatory state to the Agreement on the Establishment of the European Economic Area (EEA = EU + Iceland, Norway, and Liechtenstein). A third country is a country that is not a member state.
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.
OTP banka 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.
