Currency Transfers via SEPA and SWIFT

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ProCredit Bank provides full coverage and fast execution of payment services through participation in the following payment systems:

STEP2 - payment system for processing client transfers in euro between SEPA (Single Euro Payments Area) participants. Transfers are sent to the beneficiary’s bank every business day for euro currency, between 10:00 and 15:00.
TIPS - payment system for processing instant client transfers in euro, based on the SEPA Instant scheme. Instant euro payments are executed within a few seconds – 24/7, 365 days a year. Outgoing instant transfers have a limit of up to 15,000 euro, while incoming instant transfers have no limit. The fee amount is equivalent to that of a standard transfer, according to the Bank’s Tariff.
TARGET - Trans-European Automated Real-Time Gross Settlement System in euro. The Bank is a direct participant in the system for executing express euro transfers.
SWIFT - payment system that enables the transfer and exchange of data between financial institutions worldwide. SWIFT transfers are processed through correspondent banks. Payments in all currencies that ProCredit Bank (Bulgaria) EAD operates with – EUR, USD, GBP, CHF – are processed via SWIFT.

For payments to countries outside the European Economic Area, the Bank requires the submission of documents in accordance with the applicable foreign exchange regulations in Bulgaria.

The Bank’s main correspondent for transfers in EUR, USD, GBP, and CHF is ProCredit Bank AG Frankfurt Am Main, Germany, SWIFT: PRCBDEFF. For USD transfers, the Bank has an additional correspondent: Deutsche Bank AG, New York, US., SWIFT: DEUTUS33.

When executing international transfers, other intermediary banks may be involved in addition to the correspondent banks of ProCredit Bank (Bulgaria) EAD. These banks may deduct their own fees depending on the currency, amount, and the selected charge option for the transfer.

Deadline for accepting express transfers:

Final deadline for acceptance of express transfers in EUR and in USD to be made on the same working day via Internet banking- 17:00 p.m.

Final deadline for acceptance of express transfers in GBP to be made on the same working day via Internet banking- 12:00 p.m.

Express transfers are processed with value date on the same business day for the correspondent bank.

The deadline for accepting regular transfers via internet banking for same-day execution is 17:00. Regular transfers are processed with value date (one business day) for the correspondent bank.

Additional information about transfer fees:

The fees up to the correspondent bank are for the sender's account, and after that, they are for the recipient's account.

Transfers in EUR to countries within the European Economic Area are executed in accordance with European directives with the SHA option. The correspondent banks involved in the transfer do not charge any commissions.

All transfer fees are for the sender's account, and the beneficiary receives the originally instructed amount.

The beneficiary fully bears all fees related to the payment.