International payments (Nostro remittances)
FX remittance is an instrument used in international payment operations. It enables clients to make payments to and receive payments from international partners related to purchasing or selling goods. FX remittance, as an international payment instrument, may also be used for transfers related to performed services, and various transfers related to public and private sector.
Nostro remittance is a money transfer by which Bank clients make international payments on different grounds.
International payments are intended for small and medium-sized enterprises that need to perform money transactions with foreign business partners quickly and easily.
- Facilitating payments between partners internationally where there is mutual trust
- Simple way to perform international payments
- Extremely inexpensive way to perform international payments
To perform the international transfer, the Bank should be provided with the following documents:
- Invoice, pro-forma invoice or an underlying contract
- Instructions on FX account of international partner, i.e. recipient
- Payment order, signed and stamped (if stamp is foreseen by the company’s statute)