CKB

FX inflows (loro remittances)

  • Facilitate international payments
  • Simple way to execute international payments
  • Exceptionally inexpensive way to execute international payments

Product description

FX remittance is an instrument used in international payment operations system. It enables clients to make payments to and receive payments from international partners related to purchase or sale of goods or services. FX remittance, as an international payment instrument, may also be used for transfers of various types of support to public and private sector. It is mostly used in situations where there is trust between partners involved in a purchase or sale transaction and should not preferably be used for highly risky payments. Since the fee charged is low, this instrument is most commonly used for FX payments.
Loro remittance is a remittance by which Bank clients receive international payments on different grounds. It is a way for a natural person to collect a foreign claim or receive other inflows from a foreign country.

The product is intended for all individuals that have a FX account established with the Bank.

Product price

The fees charged by the Bank depend on the inflow amount, as follows:

  • amounts up to EUR 3,000 - 1%of the amount
  • amounts from EUR 3,000 to 50,000 - 0.5%of the amount
  • amounts over EUR 50,000 - 0.3% of the amount

How to use this product?

It is necessary to have a FX account opened with CKB. The FX account is opened parallel to opening a gyro account with the Bank.

A gyro and a foreign exchange account may be opened at the Bank counter, against presenting an ID card that confirms the client’s identity.

The client does not need to come to the Bank to check the status, nor to submit any documents for the collection. The Bank will immediately let the client know on any foreign inflow received.