Terms and Conditions for Correspondent Banks

OPERATIONS PERFORMED BY CORRESPONDENT BANKS

FEE SCHEDULE for transactions performed by Belarusbank (effective as of 15.08.2022)

5.1. TRANSACTIONS ON CORRESPONDENT ACCOUNTS


n /

Transaction name

Fee amount

Note

5.1.1.

Loro Accounts

 

 

5.1.1.1.

Opening a Loro account:

 

 

5.1.1.1.1.

in Belarusian rubles,

BYN 53.00

 

5.1.1.1.2.

in foreign currency

USD 25

 

5.1.1.2.

Closing a Loro account at correspondent bank’s initiative:

 

 

5.1.1.2.1.

in Belarusian rubles

BYN 213.00

 

5.1.1.2.2.

in foreign currency

USD 100

 

5.1.1.3.

Maintenance a Loro account (charged monthly for each account):

 

The fee includes the provision of bank statements.

The fee is payable by the Correspondent Bank on prepayment terms for the reporting month, including if the account balance is zero and / or for having no bank account transactions:

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

in the course of maintaining a current account – on the first business 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 will be withheld no later than the business day following the day when funds are transferred to such account.  

The payment amount in yen is calculated for each calendar day based on the rate and the balance of funds on the correspondent account at the end of the business day, taking into account the amounts of funds received for crediting to the correspondent account after the time specified in the correspondent account agreement and credited to it on the next banking day (with the value date of the previous banking day), the fee is deducted on a monthly basis on the first business day of the month following the reporting month

5.1.1.3.1.

in Belarusian rubles

BYN 30.00

5.1.1.3.2.

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

USD 15

5.1.1.3.3.

in Euro

EUR 15

5.1.1.3.4.

in Russian rubles

RUB 900

5.1.1.3.5.

in yens

USD 15 (monthly)
+ 0.7 % per annum (based on 365/366 days per year) from the amount of the balance on the correspondent account at the end of every banking day

5.1.1.4.

Submission of credit messages (letters of advice) for a Loro account:

for one message

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 credit messages (letters of advice) sent.  

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. The 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.  

5.1.1.4.1.

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

USD 0.80

5.1.1.4.2.

in Euro

EUR 0.65

5.1.1.4.3.

in Russian rubles

RUB 45

5.1.2.

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

USD 7

 

5.1.3.

Bank transfers in Belarusian rubles

 

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

5.1.3.1.

Customer and interbank transfers (payment orders of the MT1XX and MT2XX formats)

BYN 1.90

 

  1. 1. 3. 2.

Amending payment instructions or canceling payment orders

BYN 35.00

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.  

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

5.1.4.

Bank transfers in foreign currency

 

If a bank transfer is made via Telex channels on behalf of the correspondent bank, an additional USD 15 is charged

5.1.4.1.

Customer transfers (payment orders of the MT1XX format):

 

 

5.1.4.1.1.

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

 

 

5.1.4.1.1.1.

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

1 unit of currency

 

5.1.4.1.1.2.

in CNY

5 units of currency

 

5.1.4.1.1.3.

in tenge

KZT 400

 

5.1.4.1.1.4.

in other currencies

70 units of currency

 

5.1.4.1.2.

to credit funds to accounts of correspondent banks with Belarusbank:

 

 

5.1.4.1.2.1.

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

3 units of currency

 

5.1.4.1.2.2.

in CNY

20 units of currency

 

5.1.4.1.2.3.

in tenge

KZT 4000

 

5.1.4.1.2.4.

in other currencies

205 units of currency

 

5.1.4.1.3.

to credit funds to accounts with other banks:

 

 

5.1.4.1.3.1.

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

20 units of currency

 

5.1.4.1.3.2.

in Russian rubles

RUB 800

 

5.1.4.1.3.3.

**in CNY

CNY 500

* *

5.1.4.1.3.4.

in tenge

KZT 4000

 

5.1.4.1.3.5.

in other currencies

200 units of currency

 

5.1.4.2.

Interbank transfers (payment orders of the MT2XX format)

 

 

5.1.4.2.1.

to credit funds to accounts of correspondent banks with Belarusbank:

 

 

5.1.4.2.1.1.

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

4 units of currency

 

5.1.4.2.1.2.

in Russian rubles

RUB 230

 

5.1.4.2.1.3.

in CNY

15 units of currency

 

5.1.4.2.1.4.

in tenge

KZT 1200

 

5.1.4.2.1.5.

in other currencies

100 units of currency

 

5.1.4.2.2.

to credit funds to accounts with other banks:

 

 

5.1.4.2.2.1.

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

9 units of currency

 

5.1.4.2.2.2.

in Russian rubles

RUB 600

 

5.1.4.2.2.3.

in CNY

60 units of currency

 

5.1.4.2.2.4.

in tenge

KZT 3000

 

5.1.4.2.2.5.

in other currencies

100 units of currency

 

5.1.4.3.

Amending payment instructions:

 

 

5.1.4.3.1.

Amending a payment instruction executed from a Loro account of a correspondent bank

USD 20

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

5.1.4.3.2.

Amending and adding a payment order credited via bank's Nostro correspondent account

USD 20

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

Belarusbank sends a request for compensation of a fee to the correspondent bank with which a Nostro account is opened.  

5.1.4.4.

Cancellation (return) of a payment order:

 

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

5.1.4.4.1.

executed via a Loro account of a correspondent bank

USD 20

The fee is charged when by the time of amendments receipt or payment order cancellation, the bank has executed the initial payment order.  

.51.4.4.2.

credited via bank's Nostro correspondent account:

 

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

The fee is charged from the payment amount when a transfer is returned. The fee is charged 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.

The 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.  

5.1.4.4.2.1.

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

USD 5

5.1.4.4.2.2.

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

USD 20

5.1.4.4.2.3.

under payment orders above USD 1000 in equivalent

USD 40

5.1.4.5.

Execution of a request from a correspondent bank (informing of the date when beneficiary account was credited)

USD 20

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

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

5.1.5.

Safekeeping of funds on the Loro account in Euro (EUR)s

 

1.1 % p.a (based on 365/366 days per year) of cash balance as of the end of every banking day exceeding EUR 100,000

2% of the amount of balance of the end of the last banking day of the reporting year

The fee is not chargeable for the correspondent account of the National Bank of the Republic of Belarus.  

Payment amount of 1.1 % per annum is calculated for every calendar day based on the rate and balance of a correspondent account at the end of a banking 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 on a monthly basis on the first business day of the month following the reporting month.

The fee is neither applicable nor charged to correspondent banks if the terms of the correspondent account agreements with them stipulate the subscription fee in euros for Loro correspondent account, including the part expressed as a percentage per annum.  

5.2. DOCUMENTARY OPERATIONS

When issuing a letter of credit with tolerance (permissible variation) in relation to the amount of the letter of credit, a fee is charged from the amount of the letter of credit with a per cent upward tolerance. If the letter of credit is issued for an "approximate" amount, the fee is charged from the amount increased by 10 %.

If a letter of credit is canceled, a paid fee is not refundable.

If a fee is to be paid by the beneficiary under the import letter of credit, by the applicant under the export letter of credit, by the principal under the received bank guarantee and is not paid by the latter at the time of execution/expiry without execution of the letter of credit/bank guarantee, the amount of the calculated fee pursuant to paragraph 4.4 of this Fee Schedule is payable by the customer.

A fee for services can be charged to the correspondent bank in a currency other than the currency in which the transaction is performed, at the cross-rate of the National Bank on the day of the fee charged and is paid by the correspondent bank in the currency of the invoice not later than the day of payment under the letter of credit/guarantee/counter-guarantee/collection or not later than the 10th day from the expiry date of the letter of credit/guarantee.

The current fee’s amount for transactions that use the SWIFT system applies to transactions that use the Telex system and other alternative systems for transmitting financial information.


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Transaction name

Fee amount

Note

5.2.1.

Documentary collection:

 

 

5.2.1.1.

documents and promissory notes:

- with issuance against acceptance or payment (checking and sending by export, issuance by import)

- execution of a collection order;

- with transfer without payment and return of unpaid documents

0,2 % of the amount,
min. USD 40,
max. USD 250

 

5.2.1.2.

modification of terms of a collection order or its cancelation

USD 40

 

5.2.2.

Documentary letters of credit

 

 

5.2.2.1.

Import letters of credit

 

 

5.2.2.1.1.

Issuance of a letter of credit:

 

When a letter of credit is issued with a partial coverage submitted by the applicant at the moment when such letter of credit is issued, the fee for issuing a letter of credit is calculated as follows:  

for the covered part – in accordance with sub-clause 5.2.2.1.1.1 of this Fee Schedule;

for the uncovered part – in accordance with sub-clause 5.2.2.1.1.2 of this Fee Schedule.

5.2.2.1.1.1.

covered

0.15 % of the amount,
min. USD 50

 

5.2.2.1.1.2.

uncovered

2 % p.a. of the amount,
min. USD 100

When an uncovered letter of credit is issued, the fee is calculated from the amount of a letter of credit for actual amount of days from the day when such letter of credit was issued up to its maturity.  

5.2.2.1.2.

Payment under a letter of credit, acceptance and checking of documents:

 

 

5.2.2.1.2.1.

the Bank is a nominated bank; after receiving documents from a nominated bank without checking or if discrepancies aren't listed

0.15 % of the amount,
min. USD 50,
max. USD 500

 

5.2.2.1.2.2.

if the Bank is not a nominated bank

 

0.02 % of the amount,
max. USD 50

 

5.2.2.1.3.

Acceptance of discrepant documents

 

USD 50 for each document’s package

 

5.2.2.1.4.

Amendments to a letter of credit:

 

 

5.2.2.1.4.1.

unrelated to prolongation of term and increase in amount

 

USD 50
for each amendment

The fee is collected for each amendment of any field in the text of the letter of credit irrespective of the number of amendments to be made to this field. 

5.2.2.1.4.2.

Prolongation of terms:

 

A fee is calculated from the amount of unpaid balance as of the moment when an amendment is made.

5.2.2.1.4.2.1.

covered

0.1 % of the amount
for each additional three-month period or its part,
min. USD 50 for each additional three-month period or its part

 

5.2.2.1.4.2.2.

uncovered

2 % p.a. of the amount

The fee is applied without regard to partial coverage submitted by the applicant during the validity period of the letter of credit

5.2.2.1.4.2.3.

with a "red clause", unpaid balance for which is equal to zero

USD 50

 

5.2.2.1.4.3.

increase in the amount:

 

 

5.2.2.1.4.3.1.

covered

0.1 % of the amount of increase, min. USD 30

 

5.2.2.1.4.3.2.

uncovered

2 % p.a. of the amount of increase, min. USD 50

 

5.2.2.2.

Export letters of credit

 

 

5.2.2.2.1.

Pre-advising of the letter of credit; advising of the letter of credit to a Bank customer

0.1 % of the amount,
min. USD 50
max. USD 200

 

5.2.2.2.2.

Advising of a letter of credit to a resident/non-resident bank

0.1 % of the amount,
min. USD 50
max. USD 300

 

5.2.2.2.3.

Advising of amendments

USD 40

 

5.2.2.2.4.

Authentication of a letter of credit/amendments to a letter of credit

 

USD 80

 

5.2.2.2.5.

Confirmation of the letter of credit by the Bank

 

 

5.2.2.2.5.1.

covered/against guarantee of international financial organizations

0.2 % of the amount,
min. USD 200

 

5.2.2.2.5.2.

uncovered

3.5 % p.a. of the amount, min. USD 125 per month

 

5.2.2.2.6.

Acceptance, checking and sending of documents under letters of credit of other banks, bank institutions (at the customer’s request):

 

 

5.2.2.2.6.1.

not more than 2 banking days

0.2 % of the amount,
min. USD 50,
max. USD 1500
for each document’s package

 

5.2.2.2.6.2.

within 5 banking days

0.15 % of the amount,
min. USD 50,
max. USD 1000
for each document’s package

 

5.2.2.2.7.

Acceptance, checking and sending of documents under letters of credit of other banks, institutions of banks where the Bank is a nominated bank

 

0.2 % of the amount,
min. USD 50,
max. USD 1500
for each document’s package

 

5.2.2.2.8.

Acceptance and sending of documents without checking under the letter of credit of another bank or institution of the bank

USD 50 for each document’s package

 

5.2.2.2.9.

Issue of a repayment (reimbursement) requirement

USD 30

 

5.2.2.2.10.

Issue of a reimbursement undertaking:

 

 

5.2.2.2.10.1.

covered/against guarantee of international financial organizations

0.2 % of the amount,
min. USD 200

 

5.2.2.2.10.2.

uncovered

3.5 % p.a. of the amount

 

5.2.2.3.

Cancellation of the letter of credit prior to maturity

USD 40

 

5.2.2.4.

Transfer of a letter of credit

0.2 % of the amount,
min. USD 90

 

5.2.2.5.

Checking the documents replaced or additionally submitted in order to reconcile discrepancies detected upon primary checking

USD 35 for each document’s package

 

5.2.2.6.

Issuance of a standby counter-commitment

2 % p.a. of the amount

 

5.2.3.

Bank guarantees and counter-guarantees issued by the Bank by order of correspondent banks

 

 

5.2.3.1.

Operations on bank guarantees and counter-guarantees issued by the bank on behalf of correspondent banks

 

 

5.2.3.1.1.

Issuance of a bank guarantee/counter-guarantee:

 

 

5.2.3.1.1.1.

covered

0.2 % of the amount,
min. USD 100
for each quarter or its part

 

5.2.3.1.1.2.

uncovered

3.5 % p.a. of the amount, min. USD 125 per month

 

5.2.3.1.2.

Amendment of a guarantee/counter-guarantee:

 

 

5.2.3.1.2.1.

not related to the prolongation of the term and an increase in the amount

USD 50
for each amendment

 

5.2.3.1.2.2.

prolongation of terms:

 

 

5.2.3.1.2.2.1.

covered

0.2 % of the amount
for each additional quarter or its part, min. USD 50 for each additional quarter or its part

 

5.2.3.1.2.2.2.

uncovered

3.5 % p.a. of the amount

 

5.2.3.1.2.3.

increase in the amount:

 

 

5.2.3.1.2.3.1.

covered

0.2 % of the amount of increase, min. USD 100

 

5.2.3.1.2.3.2.

uncovered

3.5 % p.a. of the amount of increase

 

5.2.3.1.3.

Acceptance, checking the payment request and documents under a guarantee/counter-guarantee

0,2 % of the amount of payment request,
min. USD 50,
max. USD 500

 

5.2.3.1.4.

Payment under a guarantee /counter-guarantee

0.2 % of the amount of payment request,
min. USD 50,
max. USD 500

 

5.2.3.1.5.

Cancellation of a guarantee /counter-guarantee prior to maturity

USD 50

 

5.2.4.

Transactions under received bank guarantees

 

 

5.2.4.1.

Pre-advising of the guarantee; advising or transfer of a guarantee without obligations of the Bank

0.15 % of the amount,
min. USD 50,
max. USD200

 

5.2.4.2.

Advising of amendment to a guarantee without obligations of the Bank

USD 50

 

5.2.4.3.

Confirmation of the authenticity of the guarantee/amendment to a guarantee issued by another bank

USD 80

 

5.2.4.4.

Acceptance, checking of a payment request and documents under a guarantee issued by another bank (at the customer’s request)

0.2 % of the amount of payment request,
min. USD 50,
max. USD 500

 

5.2.4.5.

Sending a request for payment under a guarantee issued by another bank

USD 100

 

5.2.5.

Sending a message to the correspondent bank at the customer’s request (under a letter of credit/guarantee/counter-guarantee/collection)

USD 20 for each message

 

5.3. OTHER SERVICES


n /

Transaction name

Fee amount

Note

5.3.1.

Provision of information to an audit company and third parties (at the request of the bank/non-bank financial institution/audit company):

 

 

5.3.1.1.

for residents

BYN 238.00 (incl. VAT)

 

5.3.1.2.

for non-residents

BYN 85.00 (incl. VAT)

 

5.3.2.

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

 

 

5.3.2.1.

for residents

BYN 84.00

 

5.3.2.2.

for non-residents

USD 30

 

5.3.3.

Sending a message under documentary operations using the SWIFT system (other alternative systems for transmitting financial information) on instructions from resident and non-resident banks

USD 100 (incl. VAT)

 

 

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