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General rules for ordering of outgoing foreign payments


To ensure the safety and the highest standards of outgoing foreign payments service, mBank recalls the general rules for ordering such payments:
- providing the proper beneficiary's account number (IBAN standard - where applicable)
- providing comprehensive data on the name and address of the beneficiary,
- providing the beneficiary bank's identifier code - BIC (recommended) or full name and address of that bank,
- indicating the cost option ‘SHA’ (costs of the transferring bank are covered by the person requesting the transfer, while costs of third party banks are covered by the beneficiary), especially in the case of payments ordered in the European Union and the European Economic Area.

Failure to follow above mentioned rules, may result:
- delays in payment settlement process on the third-party banks,
- additional costs,
- payments return.
 

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SME and Corporates