The BIC (Bank Identifier Code) is an international code, also known as a SWIFT code, which uniquely identifies each bank. It contains 8 or 11 alphanumerical characters and consists of a bank code (4 characters), a country code (2 letters), a place code (2 characters), and, for some banks, a branch code (3 characters).
"}},{"title":"European Economic Area (EEA)","richBody":{"value":"Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovak Republic, Slovenia, Spain, Sweden.
"}},{"title":"EEA Currency","richBody":{"value":"Swiss Franc (CHF), Czech Koruny (CZK), Danish Kroner (DKK), Euro (EUR), Hungarian Forint (HUF), Icelandic Kronur (ISK), Norwegian Kroner (NOK), Polish Zloty (PLN), Romanian Lei (RON), Swedish Kroner (SEK).
"}},{"title":"Full Amount Principle","richBody":{"value":"The full amount must be transferred to the beneficiary’s account. Any applicable charges are debited by the bank separately. This principle applies to sending money in euros (SEPA) and transfers in other European member state currencies executed within the European Economic Area (EEA).
"}},{"title":"IBAN","richBody":{"value":"The International Bank Account Number (IBAN) is an international standard for bank account numbers to be used for sending money in euro (SEPA) and, when appropriate, international transfers. An IBAN consists of a maximum of 34 alphanumerical characters and it has a set length per country. It is composed of a country code (2 letters), a check digit (2 digits) and a domestic account number (completed for some countries).
"}},{"title":"International transfers","richBody":{"value":"International transfers have the following characteristics:
High priority payments. This option is only available for international payments in euro and only possible for payments in euro without currency conversion, with a compensated credit and debit value date. The funds are credited within the hour to the correspondent bank. Prio payments are not applicable to paper payments.
"}},{"title":"PSD II","richBody":{"value":"Payment Services Directive II: (second) directive on payment services. This directive – which, along with others, has been replicated in Belgian financial law – applies to payments made in any currency:
Such payment available for all currencies. Funds are presented to the correspondent bank on the first available value date. ING will apply a compensated value date. This means that the debit value date will correspond to the date on which the correspondent bank is credited. Same Day Payments are for international payments only and not for paper payments.
"}},{"title":"SEPA Payment","richBody":{"value":"SEPA indicates the Single Euro Payments Area and addresses all payments in euro for which the payer’s account and the beneficiary’s account are both held in a country within the SEPA Zone. The payment has the following characteristics:
Albania, Andorra, Austria, Belgium, Bulgaria, Czech Republic, Croatia, Cyprus, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, , Moldova, Monaco, Montenegro, North Macedonia, Norway, Netherlands, Poland, Portugal, Romania, Slovak Republic, Slovenia, Spain, Sweden, Switzerland, San Marino, United Kingdom and Vatican City.
"}},{"title":"Standard payments","richBody":{"value":"Sending money without special conditions, available for all currencies, when the funds arrive at the correspondent bank within a maximum of four bank business days.
"}},{"title":"Straight Through Processing (STP)","richBody":{"value":"ING requires time to process payments and transmit payment instructions; ING transmits payments to clearing houses (e.g. EBA) or to our correspondent banks. Correspondent banks are banks abroad with which ING works to execute payments. Such foreign banks ensure that payments arrive at the beneficiary’s bank via clearing houses. The total time this requires is called the payment execution deadline. ING can only guarantee up to the clearing house or correspondent bank. The execution deadline depends on various parameters: the execution option chosen, the currency of the transaction, any currency conversion and the country of destination.
"}},{"title":"Urgent payments","richBody":{"value":"Sending money with accelerated execution, available for all currencies. For international payments, funds arrive at the correspond bank within 1 to 2 bank working days.
"}},{"title":"Value Date","richBody":{"value":"The value date is the date on which a deposited amount begins and a withdrawn amount ceases to be taken into account for interest calculation.
"}}]}]}}}