The service Regular Money Transfer allows you to order the Bank to execute regular money orders from your account with the Bank to any other account at Baltikums Banka or at another bank according to their specified parameters.
The service is particularly efficient in the following cases:
You have various accounts at the Bank (current, savings, payment card accounts) and are willing to supplement them or perform transactions on a regular basis;
You need to transfer funds to accounts with other banks, for example, for settlements with your partners.
Examples of efficient application of the service:
To maintain a certain minimal balance limit if you have a Current account and a Savings account and you are willing to transfer all balances exceeding a certain amount to the Savings account;
You have a Current account and a Payment card account, which you intend to supplement, for example, every month by a certain fixed amount;
You have a Current account where deposit interests and proceeds from transactions with financial instruments are transferred. For extra savings you have opened a Savings account where you want to transfer a certain amount from the funds arriving to the Current account;
You have a Current account and need to make regular payments for your child’s studies;
You have a Current account and on a regular basis need to pay bills for provided services submitted by Your partners holding accounts with other banks;
Your company has a Current account and sub-accounts assigned to specific structural units of the company. If it is necessary to perform regular money transfers within these accounts, this service will ensure efficient cash flow management.
The service Regular Money Transfer is particularly efficient when combined with the service Automatic Account Balance Maintenance.
Who to apply for the service?
It is necessary to complete the Regular Transfer Execution Application:
The application can be completed at the Bank (with the personal of Digipass signature);
The application can be sent via the Internet Bank as a letter with the completed (and signed with Digipass) application enclosed thereto;
The application can be sent to the Bank by fax (with Digipass signature);
The fee for transfers under the regular payment programme is deducted from the account from which the transfer is made according to the approved price list.
What to be included in the application?
Your Current account number, from which the payment will be made:
It is possible to choose the currency code of the account from which the payment is made; this is particularly convenient when you are willing to supplement another account, for example, solely from balances in a specific currency.
The transfer amount:
Information about the beneficiary of the transfer amount and transfer type (standard, urgent, or express)
Commission type:
OUR – all commissions are paid by the sender;
SHA – the commission of Baltikums Banka is paid by the sender, commissions of correspondent banks are paid by the beneficiary;
BEN – all commissions are paid by the beneficiary.
Validity term of the regular transfer execution application is stating the date of the first payment (indefinite term, for a certain term, or single).
If the customer is willing to terminate the validity of the application before its expiry term, it is necessary to inform the bank thereof (it can be done by sending a relevant letter via the Internet Bank or writing a personal application).
Frequency of balance supplement on the stated account:
Every banking business day (from 09:30a.m. to 05:30p.m.);
Once a week (on the weekday when the first payment was made (from 09:30a.m. to 05:30p.m.));
Once a month (on the dates when the first payment was made (from 09:30a.m. to 05:30p.m.));
Number of days after which the payment should be repeated (from 09:30a.m. to 05:30p.m.);
Single transfer on a specified date (from 09:30a.m. to 05:30p.m.) specifying a date.
If the date of a regular payment falls on a weekend or holiday day, the payment will be executed on the first business day.
The fee payments are paid by the customer from whose account a transfer is made.
You may instruct the Bank about further actions in cases when it is impossible to make a payment according to the parameters specified to the Bank:
Not to make the payment;
To inform you via the Internet Bank, e-mail, telephone, or otherwise about the impossibility of the transaction.
