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Payments and payment services



What are payments and the payment service?


 Payments or payment service

Payments are services. It's very easy. Like any other service, Payment Services make it possible to perform banking operations in our favor or that of third parties, using a checking account or through cash. In this family of products the most important and most used is Transfer or Shooting.

What are Transfers?

Transfer is a banking transaction through which amounts are transferred from one current account to another: not only within the same bank, but also to different banks. The party that sends the specified amount is called the Orderer and the party that receives it is called the Recipient.
In order to make the Transfers, it is necessary to know and communicate the IBAN code and / or the Beneficiary account. In Albania this code consists of 28 characters while in other countries of Europe and the world it has different lengths. The IBAN code allows the current account to be uniquely identified and functions as the “unique address” of the account needed to transfer funds. It contains security elements that identify: the state, the bank & the bank branch as well as the current account number. The set of these data included in the IBAN code or in the account number (towards those countries that do not use the IBAN), ie the exact name of the Beneficiary and his Bank, are basic elements and are called the necessary bank coordinates. for processing a Transfer or Shooting. *

* Attention: it is very important that the BENEFICIARY correctly communicates his bank coordinates with the ORDERER, which should be up to date.

The principal must accurately follow these bank coordinates in the transfer orders (online transfers, or even transfers made by physical presence to the Bank), in order to avoid delays in transfers and additional costs for settling irregularities.

Did you know that?

When the transfer is made within different accounts which belong to the same entity (individuals or any type of legal entity) or in favor of different entities within the same bank, the transfer always has a commission of zero. This type of transfer minimizes costs for both the Principal and the Transferee.

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