Terms and Conditions for Correspondent Banks

JOINT STOCK COMPANY “SAVINGS BANK “BELARUSBANK”
Minsk

APPROVED

Board Meeting Minutes
of Belarusbank

dd 05.04.2018 No. 41.2

COLLECTION

of Fees Charged for Operations Performed by Belarusbank

(with amendments and additions made on 17.12.2019 and coming into force on 01.01.2020)

5. OPERATIONS PERFORMED BY CORRESPONDENT BANKS

Services are paid for by the correspondent bank itself, or the amount is written off (debited) from correspondent bank's account by Belarusbank without its instruction (additional instructions).

If it is impossible to collect a fee, a payment order is returned to the correspondent bank unexecuted. Fees specified in p. 5.1 of this Collection of Fees are charged at the established rate except as otherwise provided for in the correspondent account agreement.

The bank pays interest at rates specified by the bank's Financial Committee for storage of funds in correspondent and other accounts with correspondent banks (excluding deposit accounts).

Interest is accrued to actual daily balances of accounts. When interest is accrued and calculated, the number of days in a year is assumed to conventionally comprise 360, and the number of days in a month is assumed to comprise 30. Interest is paid monthly on the last working day of a month.

Fees for services provided under documentary operations are paid by the correspondent bank after billing. To calculate a fee expressed as percent per annum the number of days in a year is assumed to comprise exactly 365 (366 in a leap year), the number of days in a month is assumed to be equivalent to the actual number of days.

Services of third-party banks and expenses related to sending documents by courier are paid additionally upon payment by the bank (excluding services according to p.5.1.4 of this Collection of Fees), unless otherwise provided in the correspondent account agreement. Fees for sending documents by courier within documentary operations (paragraph 5.2 of this Collection of Fees) are charged additionally upon provision of service (sending of documents).

Fees under p. 5.2-5.3 of this Collection of Fees are billed and paid by a correspondent bank for all documentary operations that provide for payment of a fee at the expense of correspondent bank's customer.

If a correspondent bank has Belarusbank's Customer-Bank system installed, a fee for provision of services within this system is charged according to p. 4.5 of this Collection of Fees (unless otherwise provided in the agreement on use of electronic documents for providing services via the Customer-Bank system).

Fee for performing customer credit transfer is charged from the following accounts, if the following information is indicated in the Costs of Transfer field:

from correspondent bank's account/for the account of a correspondent bank – OUR (remuneration for payer's account);

from the amount of transfer – BEN (remuneration for beneficiary's account), SHA (for sender's account, expenses of other banks for beneficiary's account) or in the absence of this field.

5.1. TRANSACTIONS ON CORRESPONDENT ACCOUNTS

No.

Transaction name

Fee amount

5.1.1.

Loro accounts:

 

5.1.1.1.

opening a Loro account:

 

 

- in Belarusian rubles

BYN 53.00

 

- in foreign currency

USD 25

5.1.1.2.

closing a Loro account at correspondent bank's initiative:

 

 

- in Belarusian rubles

BYN 213.00

 

- in foreign currency

USD 100

5.1.1.3.

maintenance of a Loro account (charged monthly for each account):[1]

 

 

- in Belarusian rubles

BYN 30.00

 

- in US dollars and other currencies (excluding accounts in Euro, Belarusian rubles, Russian rubles, yens)

USD 15

 

- in Euro

EUR 15 (monthly) + 0.65% p.a. (on the assumption that there are 365/366 days in a year) of the balance of funds as of the end of every banking day exceeding EUR 100,000[2]

 

- in Russian rubles

RUB 900

 

- in yens

USD 15 (monthly) + 0.7% p.a. (on the assumption that there are 365/366 days in a year) of the balance of the correspondent account as of the end of every banking day2

5.1.1.4.

submission of credit messages (letters of advice) for a Loro account:[3]

for one message

 

- in US dollars, Belarusian rubles and other currencies (excluding messages in Euro and Russian rubles)

USD 0.80

 

- in Euro

EUR 0.65

 

- in Russian rubles

RUB 45**

5.1.2.

Submitting a copy of a statement and a letter of advice (credit, debit), intermediate extract and debit letter of advice

USD 7

5.1.3.

Subparagraph excluded

5.1.4.

Bank transfers in Belarusian rubles [4]

 

5.1.4.1.

Customer and interbank transfers (payment orders of the МТ1ХХ, МТ2ХХ formats)

BYN 1.90

5.1.4.2.

Amending payment instructions or canceling payment orders[5]

BYN 35.00

5.1.5.

Bank transfers in foreign currency

 

5.1.5.1.

Customer transfers (payment orders of the MT1XX format):

 

5.1.5.1.1.

to credit funds to accounts of customers and institutions of Belarusbank:

 

 

- in US dollars, Euro, pounds, Swiss francs, Canadian dollars

1 unit of currency

 

- in tenge

KZT 400

 

- in other currencies

70 units of currency

5.1.5.1.2.

to credit funds to accounts of correspondent banks with Belarusbank:

 

 

- in US dollars, Euro, pounds, Swiss francs, Canadian dollars

3 units of currency

 

- in tenge

KZT 4000

 

- in other currencies

205 units of currency

5.1.5.1.3.

to credit funds to accounts with other banks:

 

 

- in US dollars, Euro, pounds, Swiss francs, Canadian dollars

20 units of currency

 

- in Russian rubles

RUB 800

 

- in tenge

KZT 4000

 

- in other currencies

200 units of currency

5.1.5.2.

Interbank transfers (payment orders of the MT2XX format):

 

5.1.5.2.1.

to credit funds to accounts of correspondent banks with Belarusbank:

 

 

- in US dollars, Euro, pounds, Swiss francs, Canadian dollars

4 units of currency

 

- in Russian rubles

RUB 230

 

- in tenge

KZT 1200

 

- in other currencies

100 units of currency

5.1.5.2.2.

to credit funds to accounts with other banks:

 

 

- in US dollars, Euro, pounds, Swiss francs, Canadian dollars

9 units of currency

 

- in Russian rubles

RUB 600

 

- in tenge

KZT 3000

 

- in other currencies

100 units of currency

 

5.1.5.3.

Amending payment instructions:

 

5.1.5.3.1.

amending a payment instruction executed from a Loro account of a correspondent bank [6]

USD 20

5.1.5.3.2.

amending and supplementing a payment order credited via bank's Nostro correspondent account [7], [8]

USD 20

5.1.5.4.

Cancellation (return) of a payment order: [9]

 

5.1.5.4.1.

executed via a Loro account of a correspondent bank 6

USD 20

5.1.5.4.2.

credited via bank's Nostro correspondent account: 7, [10]

 

 

- under payment orders from USD 10.01 to USD 100 inclusive in equivalent

USD 5

 

- under payment orders from USD 100.01 to USD 1000 inclusive in equivalent

USD 20

 

- under payment orders above USD 1000 in equivalent

USD 40

5.1.5.5.

Execution of a request from a correspondent bank (informing of the date when beneficiary's account was credited)8, 9

USD 20

[1] Remuneration includes submission of statements of Loro accounts. Remuneration for maintaining a Loro account is to be paid on a basis of advance payment for the reporting month, including in case of zero balance and (or) in the absence of account movement:

at account opening – on the day of account opening for the current month;

in the course of maintaining a current account – on the first day of the current month for the current month.

If there are no funds on an account or if account balance is insufficient, the fee for maintaining a Loro correspondent account will be withheld not later than the business day following the day when funds are transferred to such account.

[2] Payment amount is calculated for every calendar day based on the rate and balance of a correspondent account at the end of an operation day with allowance for funds received for crediting to a correspondent account after the time specified in the correspondent account agreement and credited to such account on the following banking day (with value date being the previous banking day), the fee is charged monthly on the first business day of the month following the reporting month.

[3] The fee is charged for messages received via Nostro accounts of Belarusbank in favor of the correspondent bank once a month on the last business day. The amount is calculated based on the number of transmitted credit messages (letters of advice).

If there are no funds on an account or if account balance is insufficient, the fee for credit messages (letters of advice) will be withheld not later than the business day following the day when funds are transferred to such account. A fee can be withheld in a currency other than transaction currency at the rate of the National Bank of the Republic of Belarus as of the day of payment of such fee.

[4] If a transfer is performed via Telex channels at the request of the correspondent bank, additional USD 15 will be charged.

[5] The specified fee is also charged to resident banks that use Loro accounts of non-resident banks with Belarusbank to perform settlements. Fees of third banks are charged additionally upon their presentation.

A fee is charged when by the time amendments are received or payment order is canceled the bank has fulfilled the initial payment order.

[6] A fee is charged when by the time amendments are received or payment order is canceled the bank has fulfilled the initial payment order.

[7]  Not applied to resident banks with Nostro correspondent accounts in the name of Belarusbank.

[8]  Belarusbank sends a request for compensation of a fee to the correspondent bank with witch a Nostro account is opened.

[9]  When a fee is calculated, execution of a request submitted due to bank's mistake made in the course of transfer is not considered.

[10]  A fee is charged from the payment amount when a transfer is returned. A fee is levied both when a request for cancellation (return) of a payment order is received from a correspondent bank, and when a customer refuses to remit funds, or after expiration of fund retention period on accounts 6302, 3819.

A fee is not applied in case of cancellation (repayment) of pensions, alimonies, benefits and other social payments, if this purpose of payment is stated in the payment order.

5.2. DOCUMENTARY OPERATIONS

5.2.1.

Documentary collection

5.2.1.1.

Documents and bills of exchange:

- against acceptance or payments (examination and sending under export transactions, release under import transactions),

- payment under documentary collection,

- without payment and return of unpaid documents

0,2% min. USD 30
max. USD 250

5.2.1.2.

Amendments and cancellation of collection instructions

USD 40

5.2.2.

Documentary Credits

 

5.2.2.1

Import Letters of Credit

 

5.2.2.1.1

Letter of Credit issuance:

 

5.2.2.1.1.1

- covered

0,15% min. USD 50

5.2.2.1.1.2

- uncovered

2 % p.a. min USD 100

5.2.2.1.2

Payment under L/C, acceptance and examination of documents

 

5.2.2.1.2.1

- Belarusbank acts as a nominated bank,

- the receipt of the documents from the nominated bank without examination or without indication of the discrepancies found

0,15%, min. USD 50

max. USD 500

5.2.2.1.2.2

Belarusbank is not a nominated bank under L/C

0,02%, max. USD 50

5.2.2.1.3

Documents with discrepancies

USD 50 per each discrepant set of docs

5.2.2.1.4

Amendments

 

5.2.2.1.4.1

- not related to amount extension and prolongation

USD 50 per each amendment

5.2.2.1.4.2

Prolongation of L/C

 

5.2.2.1.4.2.1

- covered

0,1% per each additional quarter or part thereof, min. USD 50 per each quarter or part thereof

5.2.2.1.4.2.2

- uncovered

2% p.a.

5.2.2.1.4.2.3

the "red clause" L/C, the unpaid balance of which is equal to zero

USD 50

5.2.2.1.4.3

an increase of the L/C amount:

 

5.2.2.1.4.3.1

- covered

0,1% from increased amount, min. USD 30

5.2.2.1.4.3.2

- uncovered

2% p.a. from increased amount, min. USD 50

5.2.2.2

Export Letters of Credit

 

5.2.2.2.1

Preadvising; advising of Letter of Credit to bank’s customer

0,1 %, min USD 50,

max. USD 200

5.2.2.2.2

Advising of Letter of Credit to bank resident / non-resident

0,1 %, min USD 50,

max. USD 300 

5.2.2.2.3

Advising of amendments

USD 40

5.2.2.2.4

Confirmation of L/C authenticity/ amendment of L/C authenticity

USD 80

5.2.2.2.5

Confirmation of L/C

 

5.2.2.2.5.1

- covered/under the guarantee of EBRD (other international financial institution)

0,2%, min. USD 200

5.2.2.2.5.2

- uncovered

3,5 % p.a.

5.2.2.2.6

Acceptance, examination of documents under L/Cs available with other banks

 

5.2.2.2.6.1.

within 2 banking days

0,2%, min. USD 50, max. USD 1.500 per each set of docs

5.2.2.2.6.2

within 5 banking days

0,15%, min. USD 50, max. USD 1.000 per each set of docs

5.2.2.2.7

Examination and sending of documents under Letters of Credit where Belarusbank acts as a nominated bank

0,2%, min. USD 50, max. USD 1.500 per each set of docs

5.2.2.2.8

Receiving, sending of documents without examination under the export Letter of Credit of another bank

USD 50 per set of docs

 

5.2.2.2.9

 

Claiming reimbursement

 

USD 30

 

5.2.2.2.10

 

Issuance of reimbursement obligations

 

 

5.2.2.2.10.1

- covered/under the guarantee of EBRD (other international financial institution)

0,2%, min. USD 200

5.2.2.2.10.2

- uncovered

3,5 % p.a.

5.2.2.3

Cancellation the L/C before maturity

USD 40

5.2.2.4

L/C Transfer

0,2%, min. USD 90

5.2.2.5

Examination of documents replaced due to discrepancies previously found

USD 35 per each set of docs

5.2.2.6

Standby Letter of Credit issuance

2% p.a.

5.2.3.

Guarantees, counter-guarantees and liabilities issued by the bank on the instructions of correspondent banks

 

5.2.3.1.1

 

Bank guarantee/counter-guarantee issuance:

 

- covered

0.2 % min. USD 100
per each quarter or a part thereof

- uncovered

3.5 % p.a.

5.2.3.1.2

Amendments to a bank guarantee/counter-guarantee:

 

5.2.3.1.2.1

- not related to amount extension and prolongation

USD 50
per each amendment

5.2.3.1.2.2

Prolongation of guarantee/counter-guarantee:

 

 

 

- covered

0.2 % per each additional quarter or part thereof,
min. USD 50 per each additional quarter or part thereof

- uncovered

3.5 % p.a.

5.2.3.2.3.

 

 

an increase of amount:

 

- covered

0.2 % from increased amount, min. USD 100

- uncovered

3.5 % p.a. from increased amount

5.2.3.1.3

Acceptance, examination of the demands and documents under the guarantee

0.2 %, min. USD 50.
max. USD 500

5.2.3.1.4

Payment under the guarantee/counter-guarantee

0.2 % , min. USD 50.
max. USD 500

5.2.3.1.5

Cancellation of a guarantee/counter-guarantee before the expiration of its validity

USD 50

5.2.3.1.6.

Operations under received bank guarantees

 

5.2.3.1.6.1.

Pre-advising of a guarantee, advising or transfer of guarantee without liability for Belarusbank

0.15 %, min. USD 50,
max. USD 200

5.2.3.1.6.2.

Advising of amendments to a guarantee without liability for Belarusbank

USD 50

5.2.3.1.6.3.

Authentication of a guarantee/amendments to a guarantee, issued by another bank

USD 80

5.2.3.1.6.4.

Acceptance, examination of the payment’s demand and documents under the guarantee, issued by another bank (at client’s request)

0.2 % of the sum of demand,
min. USD 50.
max. USD 500

5.2.3.1.6.5.

Direction of the payment demand under the guarantee, issued by another bank

USD 100

5.2.4

Sending an inquiry to the bank-correspondent at the request of the client (L/C/guarantee/counter-guarantee/ documentary collection)

USD 20 per each SWIFT-message

5.3.3

Sending message under documentary operations by SWIFT on the instructions of correspondent banks

USD 100

(including VAT)

5.3. OTHER SERVICES

No.

Transaction name

Fee amount

5.3.1.

Submission of information for an audit company (at a request of the bank/non-bank financial institution/audit company)

USD 85 (with VAT)

5.3.2.

Authentication of telegraph keys (verification of test validity) with a third bank

USD 30

5.3.3.

Transmission of a message regarding documentary operations via the SWIFT system by order of resident banks, non-resident banks

USD 100 (with VAT)

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