Payment services

Domestic payments

In domestic payments, we offer processing of incoming and outgoing payments in Czech Crowns within the Czech Republic.

You can send money from your account to any account conveniently, easily and promptly. For recurring payments, you can set up a standing payment order.

• Payment order - lets you pay utility and other bills or make other payments from your account. For regular payments, you may place a standing payment order. Batch payment orders are available too.
• Direct debit order - lets you collect funds in favour of your current account from any other current account; the current account from which funds should be collected must be set up to authorize direct debits to your account.
• Direct debit mandate - based on your approval, a payment to the credit of a particular beneficiary may be debited from your current account.
• SIPO - mandate given to the Czech Post (Česká pošta, s.p.) to collect monthly SIPO bulk payments (residents' payments) from your current account.
• Express domestic interbank payment - funds are transferred to the credit of the beneficiary's current account the same day when the payer's account is debited.
• Intelligent savings - the service lets you pre-set an amount to keep in your account and automatically transfer all funds in excess of such amount to your savings account.

Payment Order

Foreign payments

In foreign payments, we offer processing of incoming and outgoing payments in foreign currencies to or from foreign countries and within the Czech Republic. Also, payments in Czech crowns to or from foreign countries are considered foreign payments.

The order for placing a foreign payment is automatically activated in the menu of your account when opened. Also, you may send a foreign payment in person at any branch office of our bank.

Placing an outgoing payment

The mandatory requisites of a payment order as well as other conditions applicable to outgoing foreign payments are stated in the Technical Conditions for Payments. You may place a payment order:

• electronically
• in person at any branch office

The condition for realization of a payment is that you complete all the prescribed fields of the payment order Foreign Payment Order and that your account shows sufficient funds.

For cross-border payments made within the Member States of the European Union and the European Economic Area, you must enter the BIC of the beneficiary's bank and the beneficiary's account number in the IBAN format. If failing to enter this information, you may be charged for additional expenses associated with finding and completing the required data for smooth processing of your payment.

For cross-border payments in USD currency to the USA, it is possible to use Another bank code of the recipient's bank instead of the BIC/SWIFT code to indicate the recipient's bank and enter the ABA routing number (Fedwire), which is a nine-digit US bank identification code (national clearing). Enter in the form FW123456789.

For outgoing payments in GBP currency to Great Britain, it is possible to use a Another bank code of the recipient's bank called Sorting code as an identification code of the British bank, which consists of six digits, instead of the BIC/SWIFT code to  identify the recipient's bank (domestic clearing). Enter in the form: SC123456.

When entering a foreign payment, the "Beneficiary's name" field is limited to 35 characters, and at the same time, internationally prohibited characters may not be used. We recommend using only alphanumeric characters without diacritics.

If the name of the recipient is longer than 35 characters, enter the remaining part of the name of the recipient in the field "Street" and then add the address after a comma.

From September 1, 2018 all Outgoing Payments to the United Arab Emirates must include the purpose code of the payment.  Detailed information, input method and code list are available here.

From May 31, 2021 all Outgoing Payments to Bahrain must include the purpose code of the payment. Detailed information, input method and codelist are available here.

Also Outgoing payments to India must now contain the code for the purpose of payment (Payment Purpose Code) and verbal description of the purpose of payment (in English) in the field Reason for payment/Purpose of payment/Message to Beneficiary. You will receive the payment purpose code from your business partner (payee) as part of the payment instructions or you can select it from a list. Without specifying the payment code, the recipient's bank may refuse the payment or there may be a delay in crediting the payment to the recipient's account.

From January 1, 2019 all outgoing payments to Israel must include a valid IBAN account format of the beneficiary.Missing IBAN account format of the beneficiary can lead in an extension of the deadline for crediting of payment to the beneficiary or non-execution and return of the payment, which can result in posting of additional charges of payee’s and payer’s banks.

The United Kingdom has left the European Union on 1st February 2020. For a further 11 months, an agreement on a transitional period for membership of the European Economic Area (EEA) was in force.
As of 1st January 2021, the United Kingdom is no longer a member of the EEA and is not subject of REGULATION (EU) 2019/518 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL, which regulates cross-border payment charges in EUR within the EEA.
As a result, there has been a change in the fees for foreign payments from / to the United Kingdom in EUR. These fee is newly same as for standard foreign payments according to the valid price list of the relevant price program.

Raiffeisenbank will not make outgoing payments to the Russian Federation and Belarus from 15 February 2023 and has informed its customers about it. This decision applies to all payment and card transactions (regardless of the currency of the outgoing transaction). The decision was made on the basis of the designation of Russia as a high-risk third country by the Financial Analytical Service of the Czech Republic. Raiffeisenbank a.s. fully respects this position and limits its services in order to minimize risks for clients. We are aware of the implications of this decision for our clients and will continue to communicate with them and support them with services in accordance with the applicable laws and regulations of the regulatory authorities of the Czech Republic.

Incoming foreign payments

All incoming foreign payments received within the cut-off times for the processing of foreign payments are credited on the day when the payment is received (i.e. D+0). The condition for crediting a payment to your account is that your business partner enters the correct bank details; thus, an incoming payment order from abroad must contain the following information:

Benefits

• prompt processing of payment orders
• clear and easy placement of payment instructions
• payments placed anywhere and anytime, electronically or in person
• payment processing through the SWIFT international telecommunications network, guarantee of secure, fast and reliable data transfers between
  financial institutions all over the world
• discounts on selected types of payments
• Europayments
• SEPA payments
• payments within the Raiffeisen Group in selected accounts

Owners of accounts with multiple currency folders enjoy the following extra benefits

• multiple currencies can be activated and maintained under one account number
• payments in multiple currencies can be sent or received after activating the particular currency folder
• payments are not subject to automated conversion
• any changes to a payment order until the moment of processing the payment
• information about realized or (failed) payment sent by email, SMS or fax
• individual order templates for recurring payments