Incoming payment transactions

The recipient of the funds must hold a foreign currency payment account in the currency of the incoming transfer.

• Incoming payments are processed efficiently, on the same day the value date occurs.
• The Bank notifies the client – the recipient of the funds – on the value date or, at the latest, on the following business day.
• There are options for allocating the received funds at any branch of the Bank or via the electronic banking service (E-banking).

In accordance with the Decision on the Manner of Conducting Payment Transactions with Abroad, the following procedures apply for incoming payments:

• Funds are credited directly to the recipient’s payment account without the need to submit any documentation.
• Funds are credited to the resident recipient’s payment account after submitting the required documentation for the following types of transactions:
  
  • Collection of dividends and other returns from the resident’s investments abroad treated as direct investments
  • Withdrawal of an investment from abroad classified as a direct investment
  • Sale of securities or equity interests abroad treated as direct investments
  • Collection from the issuance and listing of domestic securities abroad
  • Collection from the sale of real estate abroad owned by a resident
  • Collection from the rental of real estate abroad owned by a resident
• Transfer of funds from a resident’s payment account abroad to their payment account with a domestic payment service provider
• Collection from the sale of foreign securities treated as portfolio investments
• Inflows based on insurance
• Collection of an amount equal to or exceeding EUR 50,000

Incoming Payments are processed via:

• SEPA Scheme
  For euro incoming payments from countries participating in the SEPA scheme. These transactions are always in euros and executed with BEN charge type (shared costs).
  
  
• SWIFT Network
  For incoming payments in euros and currencies other than euro.

Fees

• SEPA Scheme
  
  • Up to EUR 500 EUR 0.16
  • EUR 500.01 – EUR 12,500 EUR 2
  • EUR 12,500.01 – EUR 50,000 EUR 4
  • Above EUR 50,000.01 EUR 5
• SWIFT Network
  
  • 1% of the MKD equivalent, minimum MKD 250

Required Documentation

Credit transfers in euros and in a currency other than euro

• The payer must have a foreign currency payment account in the currency of the transaction.
• The client must submit to the Bank valid documentation in accordance with the regulations for conducting international payment services.
• Payment transactions are executed on the same day the payment order is received, with a value date on the following business day, in accordance with the Bank’s order execution schedule.
• Fast and efficient execution of international payments is available at all Bank branches or via the E-banking service.
• Thanks to the Bank’s extensive SWIFT network with banks worldwide, clients avoid unnecessary intermediary charges.

• Payments based on the sale of an investment considered a direct investment
• Payments for investments in foreign securities by residents, treated as portfolio investments
• Payments for the purchase of real estate in the Republic of North Macedonia by a non-resident
• Payments of income from renting real estate in North Macedonia owned by a non-resident
• Transfer of funds from a resident’s payment account with a domestic payment service provider to an account abroad
• Capital transactions based on an enforceable title or forced payment based on such a document
• Payments in amounts equal to or greater than EUR 50,000

• SEPA Scheme

• SWIFT Network

• • SHA – Shared charges (each party pays its own bank fees)
  • OUR – All charges are paid by the senderBEN – All charges are paid by the recipient

• Credit Transfers in the Branches
  • Up to EUR 500 - EUR 4
  • EUR 500.01 – 12,500 - EUR 6
  • EUR 12,500.01 – 50,000 - EUR 10
  • Above EUR 50,000.01 - EUR 16
• Electronic Credit Transfers
  • Up to EUR 500 - EUR 1
  • EUR 500.01 – 12,500 - EUR 3EUR 12,500.01 – 50,000 - EUR 8
  • Above EUR 50,000.01 - EUR 10

SWIFT Network 

• Up to EUR 50,000.00 - 0.50%, minimum EUR 4 + SWIFT MKD 350
• Above EUR 50,000.01 - 0.27% + SWIFT MKD 350

• Up to EUR 2,500 • EUR 10
• EUR 2,500.01 – 12,500 • EUR 20
• EUR 12,500.01 – 50,000 • EUR 40
• Above EUR 50,000.01 • EUR 50

Checks drawn on foreign banks

Checks drawn on foreign banks

• Commission in the amount of MKD 3000 paid in advanced when taking the cheque  + 3.00% of the check amount minimum 1,000 MKD per check after check payment

Payment schedule

Payment schedule for execution of payment transactions abroad in Stopanska banka AD Skopje