Terms and Conditions for Correspondent Banks

OPERATIONS PERFORMED BY CORRESPONDENT BANKS

Fee Schedule for documentary operations and other services performed by Belarusbank (effective as of 13.04.2022)

Fee Schedule for documentary operations and other services performed by Belarusbank (effective as of 22.04.2022)

FEE SCHEDULE for transactions performed by Belarusbank (effective as of 21.01.2022)

5.1. TRANSACTIONS ON CORRESPONDENT ACCOUNTS

Sr. 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 EUR

EUR 15 (monthly) + 1.1 % 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 day[2]

5.1.1.4.

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

per one message

 

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

USD 0.80

 

- in EUR

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.

Bank transfers in Belarusian rubles[4]

 

5.1.3.1.

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

BYN 1.90

5.1.3.2.

Amending payment instructions or canceling payment orders[5]

BYN 35.00

5.1.4.

Bank transfers in foreign currency:[4]

 

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:

 

 

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

1 units of currency

 

- in Chinese yuan (CNY)

5 units of currency

 

- in tenge

KZT 400

 

- in other currencies

70 units of currency

5.1.4.1.2.

to credit funds to accounts of correspondent banks with Belarusbank:

 

 

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

3 units of currency

 

- in Chinese yuan (CNY)

20 units of currency

 

- in tenge

KZT 4000

 

- in other currencies

205 units of currency

5.1.4.1.3.

to credit funds to accounts with other banks:

 

 

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

20 units of currency

 

- in Russian rubles

800 Russian Rubles

 

- in Chinese yuan (CNY)

120 units of currency

 

- in tenge

KZT 4000

 

- 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:

 

 

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

4 units of currency

 

- in Russian rubles

RUB 230

 

- in Chinese yuan (CNY)

15 units of currency

 

- in tenge

KZT 1200

 

- in other currencies

100 units of currency

5.1.4.2.2.

to credit funds to accounts with other banks:

 

 

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

9 units of currency

 

- in Russian rubles

RUB 600

 

- in Chinese yuan (CNY)

60 units of currency

 

- in tenge

KZT 3000

 

- 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[6]

USD 20

5.1.4.3.2.

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

USD 20

5.1.4.4.

Cancellation (return) of a payment order:[8]

 

5.1.4.4.1.

executed via a Loro account of a correspondent bank[9]

USD 20

5.1.4.4.2.

credited via bank's Nostro correspondent account:[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 1,000 inclusive in equivalent

USD 20

 

- under payment orders above USD 1,000 in equivalent

USD 40

5.1.4.5.

Execution of a request from a correspondent bank (informing of the date when beneficiary's account was credited)[11]

USD 20

5.1.5

Keeping of cash assets on Loro account in Euro as at the close of the last business day

2 % of the balance amount

5.2. DOCUMENTARY OPERATIONS

When opening a letter of credit with a tolerance (permissible variation) with regard to the amount of a letter of credit, a fee is collected from the amount of such letter of credit with percent upward tolerance. If a letter of credit is issued for an "approximate" amount, a fee is collected 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 requester 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/expiration without execution of the letter of credit/bank guarantee, the amount of the calculated fee pursuant to clause 4.4 of this Fee Schedule is billed to the customer.

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 charge and is paid by the correspondent bank in the currency of the invoice no later than the day of payment under the letter of credit/guarantee/counter-guarantee/collection or no later than the 10th day from the expiration date of the letter of credit/guarantee.

Sr. Sr. No.

Transaction name

Fee amount

5.2.1.

Documentary collection:

 

5.2.1.1.

documents and promissory notes:

0.2 % of the amount,
min. USD 30,
max. USD 250

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

- execution of a collection order

- with transfer without payment and return of unpaid documents

5.2.1.2.

modification of terms of a collection order or its revocation

USD 40

5.2.2.

Documentary letters of credit

 

5.2.2.1.

Import letters of credit

 

5.2.2.1.1.

Opening a letter of credit:[12]

 

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

5.2.2.1.2.

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

 

5.2.2.1.2.1.

the bank is a nominated bank; after receiving documents from a nominated bank without examination 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 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[13]

USD 50
for each amendment

5.2.2.1.4.2.

prolongation of term:[14]

 

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

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 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

Preliminary advising of a letter of credit; advising of a 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.

Acceptance of a letter of credit by the bank:

 

5.2.2.2.5.1.

with a coverage/against security of the European Bank for Reconstruction and Development (or other international financial organizations)

0.2 % of the amount,
min. USD 200

5.2.2.2.5.2.

uncovered

3,5 % p.a min. USD 125 per month

5.2.2.2.6.

Acceptance, review and sending of documents under letters of credit from other banks, branches of banks (at 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 1,500
for each document package

5.2.2.2.6.2.

within 5 banking days

0.15 % of the amount,
min. USD 50,
max. USD 1,000
for each document package

5.2.2.2.7.

Acceptance, review and sending of documents under letters of credit from other banks, branches of banks, where the bank is a nominated bank

0.2 % of the amount,
min. USD 50,
max. USD 1,500
for each document package

5.2.2.2.8.

Acceptance, sending of documents without review under letters of credit from another bank, branch of a bank

USD 50
for each document 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.

with a coverage/against security of the European Bank for Reconstruction and Development (or other 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 a 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.

Examination of documents replaced or additionally submitted in order to reconcile discrepancies detected upon primary examination

USD 35
for each document package

5.2.2.6.

Issuance of a standby counter-commitment

2 % p.a. of the amount

5.2.3.

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

 

5.2.3.1.

Transactions with bank guarantees, counter-guarantees issued by the bank by order 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 min. USD 125 per month

5.2.3.1.2.

Amendment of a guarantee/counter-guarantee:

 

5.2.3.1.2.1.

unrelated to prolongation of term and increase in amount

USD 50
for each amendment

5.2.3.1.2.2.

prolongation of term:

 

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 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, review of a request and documents under a guarantee //counter-guarantee

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

5.2.3.1.4.

Payment under a guarantee/counter-guarantee

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

5.2.3.1.5.

Cancellation of a guarantee/counter-guarantee prior to maturity

USD 50

5.2.3.1.6.

Transactions under received bank guarantees

 

5.2.3.1.6.1.

Preliminary advising of a guarantee; advising and transfer of a guarantee without obligations on behalf of Belarusbank

0.15 % of the amount,
min. USD 50,
max. USD 200

5.2.3.1.6.2.

Advising of amendments to a guarantee without obligations on behalf of 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, review of a request for payment and documents under a guarantee issued by another bank (at customer's request):

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

5.2.3.1.6.5.

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

USD 100

5.2.4.

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

USD 20  
for each Swift-message

5.3. OTHER SERVICES

Sr. No.

Transaction name

Fee amount

5.3.1.

Submission of information for an audit firm and third parties (at the request of a bank/non-bank financial institution/audit firm)

 

5.3.1.1.

for residents

BYN 238.00 (incl. VAT)

5.3.1.2.

for non-residents

USD 85 (incl. VAT)

2.3.2.

Authentication of telegraph keys (verification 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.

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

USD 100 (incl. VAT)

[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 opened with Belarusbank to perform settlements.  Fees of third banks are charged additionally upon their presentation.

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

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

[7] 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 witch a Nostro account is opened.

[8] When a fee is calculated, execution of a request submitted due to a bank error made in the course of transfer is not considered.

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

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

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.

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

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

[12] 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 the letter of credit was issued up to its maturity.

When a letter of credit is issued with a partial coverage granted 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:

to calculate a fee for the paid share of a letter of credit, a fee specified in subclause 5.2.2.1.1.1 of this Fee Schedule shall be applied;

to calculate a fee for the unpaid share of a letter of credit, a fee specified in subclause 5.2.2.1.1.2 of this Fee Schedule shall be applied;

[13] A fee is collected for every amendment of any field in the text of the letter of credit irrespective of the amount of changes to be made to this field.

[14] A fee is calculated from the amount of unpaid balance as of the moment when an amendment is made. If any amendments are made to an uncovered letter of credit, a fee is calculated according to cl. 5.2.2.1.4.2.2 of this Fee Schedule without regard to partial coverage submitted by the requester during validity of the letter of credit.

If you have noticed any discrepancy, please, highlight it and press Ctrl+Enter
Print