Rules for international payment operations for non-residents



International payment operations mean non-cash transfer of funds from your account towards abroad – Payments, as well as receiving funds from abroad – Inflows. There are no limits on the amounts transferred under these transactions.

 

The account may be used for Payments/Inflows in the Republic of Macedonia as well and may be realized in MKD currency.

 

The Payments/Inflows should be realized in compliance with the following rules:

 

In case when Payments/Inflows are made from/to legal entity and exceed the amount equivalent of EUR 50,000 in other currency, there is an obligation that the Bank is submitted an appropriate document undoubtedly defining the basis of the respective Payment/Inflow. 

 

In case when Payments/Inflows are from/to individuals and exceed the amount equivalent of EUR 50,000 in other currency, there is an obligation that the Bank is submitted information on the basis of the respective Payment/Inflow. Depending on the basis thereof, the Bank has a legal obligation to require document appropriate to the submitted information on the basis of Payment/Inflow. 

 

When necessary, the Bank shall have the right to require additional documentation for amounts of less than EUR 50,000 as well.

 

The maximum amount for payments in cash shall be EUR 10,000 per month in counter value in other currency. There is a possibility for payments in amounts higher than the above indicated, but it should be reported to the customs authorities which should issue customs declaration with validity of 5 days from the date of issuance, within which period the payment of the funds on your account has to be realized.

 

There is no limit on the amount of withdrawing cash from non-resident account.

 

If in the course of operation of your account there are transactions noted to be noncompliant with the law regulations in the Republic of Macedonia, the Bank shall have the right to refuse realizing these transactions and to terminate the business relation.

Explanation of the rules for charging the fees for international interbank payments and collections

OUR  -  Remitter shall pay the charges of all banks involved in the transfer; - Beneficiary shall receive the full amount;

SHA  -  Remitter shall pay the charges of his/her bank, and Beneficiary shall pay the charges of all other banks involved in the transfer - Beneficiary shall receive reduced amount.

BEN  -  beneficiary shall pay the charges of all banks involved in the transfer; - Beneficiary shall receive reduced amount.

For more information please contact us on contact@kb.com.mk.