Specificities linked to a country or a currency - ing.be · Type: Free Format Structure: Bank Sort...

Specificities linked to a country or a currencySpecific requirements for the execution of an international payment

Last update 07/2019

Our objective as a bank is to ensure a fast execution and delivery of your International Payments to the beneficiary. To avoid

any reject by our system (which can cause a delay on the execution of your payment) or by the beneficiary bank some

requirements are mandatory.

1. Beneficiary account:

The beneficiary account must always be the one of the ultimate beneficiary (the person you send the money to).

2. The full name and address of the beneficiary:

Write the full name and address of the beneficiary (no abbreviation). Some banks are rejecting payments for

“compliance reason” because these informations are not provided.

3. The Swift/BIC code of the beneficiary bank or at least the routing code for the USA

It is mandatory to provide the Swift/BIC code of the beneficiary bank. However some banks in the USA do not have a

Swift/BIC code. Instead, some US banks have a routing code (also called ABA, Federal wire, FW... see our page for

payment in USD).

4. A clear and complete communication:

It is always better to fill in a clear and complete communication in your payment instructions. Payments for which the

communication is unclear can be stopped by the remitting/receiving bank for further investigation.

General requirements for the good execution of anInternational Payment

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List of specificities by currency/country handled by ING(Sorted by Currency Iso code)

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A D ILS – Israel N SGD – Singapore

AED – United ArabEmirates

DKK – Denmark INR – India NOK – Norway T

AUD- Australia E ISK – Iceland NZD – New Zealand THB – Thailand

B EUR – Europe J P TND – Tunisia

BGN – Bulgaria G JOD1 – Jordan PLN – Poland TRY – Turkey

C GBP – United Kingdom JPY – Japan R U

CAD – Canada H K RON – Romania USD – USA

CHF – Switzerland HKD – Hong Kong KWD - Kuwait RUB – Russia Z

CNY - China HRK - Croatia M S ZAR – South Africa

CZK – Czech republic HUF – Hungary MAD - Morocco SAR – Saudi Arabia

I MXN – Mexico SEK – Sweden

1JOD: ING does not handle this currency however payments to Jordan are subjects to specificities

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Currency Iso Code Currency name Country Iso Code Country Name

AED UAE Dirham UAE United Arab Emirates

Structure of account SEPA country: No Type: IBAN (mandatory) Structure: AE+21 numbers Example: AE070331234567890123456

Specificities related to the country or currency Friday is a day off for the United Arab Emirates. This currency cannot be purchased/sold on that specific day. As from 01/01/2019 the usage of a purpose code will be mandatory for a payment to UAE in any currency. A payment

without purpose code will be rejected by the beneficiary bank.

Structure of the purpose code:Start the communication of your payment with /BENEFRES/AE//XXX/ XXX corresponds to the purpose code Example: /BENEFRES/AE//FAM/ for a payment related to family support

The list of purpose codes is available here

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https://www.ing.be/Assets/nuid/documents/AED-Purpose-Codes-EN.pdf

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AUD Australian Dollar AU Australia

Structure of account SEPA country: No Type: Free Format Structure: BSB (Bank-State-Branch 6 numbers) + beneficiary account (no length defined). BSB and beneficiary account

must be separated by a space Example: 033003 0123456789

Specificities related to the country or currency No specific requirement known

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BGN Bulgarian Lev BG Bulgaria

Structure of account SEPA country: Yes Type: IBAN (mandatory) Structure: BG + 2 numbers + 4 letters + 14 numbers Example: BG80BNBG96611020345678

Specificities related to the country or currency Payment in EUR or BGN is recommended No specific requirement known

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CAD Canadian Dollar CA Canada

Structure of account SEPA country: No Type: Free Format Structure: Bank Sort Code (4 numbers) + Branch Sort Code (5 numbers) + Beneficiary account (no length defined) Example: 007400598 0123456789

Specificities related to the country or currency If the Bank Sort Code or the Branch Sort Code provided by the beneficiary does not meet the minimum length you can

add one or several 0 (zero) in front of it The Bank Sort Code and Branch Sort Code forms the Canadian Sort Code (CC) of 9 numbers and must be separated from

the beneficiary account by a space

Example:Bank Sort Code is 74, add two “0” to have a Bank Sort Code of 4 numbers = 0074Branch Sort Code is 0598, add one“0” to have a Branch Sort Code of 5 numbers = 00598The account of the beneficiary will be: 007400598 0123456789

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CHF Swiss Franc CH Swiss

Structure of account SEPA country: No Type: IBAN (mandatory) Structure: CH + 19 numbers Example: CH9300762011623852957

Specificities related to the country or currency If you want to pay in EUR to Switzerland we recommend using the SEPA payment option in Home-Bank/Isabel/Business

Bank. Switzerland did not adopt the PSD (Payment Services Directive) agreements. As a consequence, a EUR paymentencoded in Home-Bank as an International Payment will be handled as such with cost and value date applied to anInternational Payment, which may be more expensive than a SEPA payment.

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CNY Chinese Yuan Renminbi CN China

Structure of account SEPA country: No Type: Free format Structure: no specific structure for this country (1 to 32 numbers). Both numbers and letters are possible Example: 01234567890123456789012345678902

Specificities related to the country or currencyDisclaimer: only companies are allowed to pay in CNY to China and from their CNY account. If you are not a company youcan initiate your payment to China in any other currency than CNY.

Payment in CNY to Mainland China1 (CN) (only for companies) must contain in the communication field: The purpose code:Start your communication2 with one of the following purpose codes/CGODDR/ (Cross-border Goods Trade)/CSTRDR/ (Cross-border Service Trade)/CCTFDR/ (Cross-border Capital Transfer)/CCDNDR/ (Charity Donation Debit)/COCADR/ (Other Current Account Transaction Debit) The Business Related Reference preceded by the code word /ROC/ Example: /ROC/Invoice n° 123456789 A CNAPS (China National Advanced Payment System) of 12 numbers. CNAPS is used by Chinese banks to execute

payments through the local clearing system. Example: CNAPS782290000018

Example of a correct communication: /CGODDR/ /ROC/Invoice n° 123456789 CNAPS782290000018

1Payment in CNY outside China are not subjected to the above requirements2 For Isabel user you can also add this purpose code in the field “Communication to the remitting bank under the same format /XXXXXX/

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CZK Czech Crown CZ Czech Republic

Structure of account SEPA country: Yes Type: IBAN (mandatory) Structure: CZ+22 numbers Example: CZ6508000000192000145399

Specificities related to the country or currency Payment in EUR or CZK is recommended No specific requirement known

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DKK Danish Crown DK Danemark

Structure of account SEPA country: Yes Type: IBAN (mandatory) Structure: DK+16 numbers Example: DK0123456789012345

Specificities related to the country or currency Payment in EUR or DKK is recommended No specific requirement known

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EUR Euro Europe

Structure of accountType: IBAN (mandatory)Structure: 2 letters (country code of account) + several numbers (varies depending on countries)

Specificities related to the country or currency List of EU countries or assimilated using the IBAN format

Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland (including Åland Islands), France (including the overseas department Guadeloupe, French Guiana, Martinique, Réunion, Saint-Barthélémy, Saint-Martin), Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxemburg, Malta, Norway, The Netherlands, Poland, Portugal (including the Azores and Madeira), Romania, Slovakia, Slovenia, Spain (including the Canary Islands, Ceuta and Melilla), Sweden, United Kingdom of Great Britain and Northern Ireland (including Gibraltar).

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GBP British Pound GB United Kingdom

Structure of account SEPA country: Yes Type: IBAN (mandatory) Structure: GB + 2 numbers + 4 letters + 14 numbers Example: GB29NWBK60161331926819

Specificities related to the country or currency Payment in EUR or GBP is recommended No specific requirement known

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HKD Hong-Kong Dollar HK Hong-Kong

Structure of account SEPA country: No Type: Free Format Structure: Branch code (3 numbers) + Account number (6-10 numbers) Example: 0120123456789


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HRK Croatian Kuna HR Croatia

Structure of account SEPA country: Yes Type: IBAN (mandatory) Structure: HR+19 numbers Example: HR1210010051863000160

Specificities related to the country or currency Payment in EUR or HRK is recommended No specific requirement known

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HUF Hungarian Forint HU Hungary

Structure of account SEPA country: Yes Type: IBAN (mandatory) Structure: HU+26 numbers Example: HU01234567890134567890123456

Specificities related to the country or currency Payment in EUR or HUF is recommended No specific requirement known

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ILS Israeli Shekel IL Israel

Structure of account SEPA country: No Type: IBAN (mandatory) Structure: IL+21 numbers Example: IL012346789012345678901


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INR Indian Rupee IN India

Structure of account SEPA country: No Type: Free Format Structure: no specific structure known (1 to 32 numbers). Both numbers and letters are possible Example: 01234567890123456789012345678902

Specificities related to the country or currency Payments to India require an IFSC code (Indian Financial System Code) of 11 numbers

1-4: name of the bank5: zero6-11: beneficiary branchExample: HDFC0001073

Payments in INR also require a purpose code (always starts with letter P). The list of purpose codes is available here Start the communication of your payment with first the IFSC code followed by the purpose code then your own

communication to the beneficiary.Example: HDFC0001073 P1301 (Inward remittance from Indian non-residents towards family)

Disclaimer: According to the Central Bank of India foreign banks cannot trade INR against another currency. This means that ING Belgium will not be able to purchase INR from its customers. ING can sell INR to its clients but not the reverse. If your payment is rejected by the beneficiary bank, the amount will be refunded in INR on a sub-account opended in thiscurrency. Therefore we highly recommend you to agree with the beneficiary to pay in another currency than INR.

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http://www.ing.be/Assets/nuid/documents/INR-Purpose-Codes-EN.pdf

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ISK Icelandic Crown IS Iceland

Structure of account SEPA country: Yes Type: IBAN (mandatory) Structure: IS+24 numbers Example: IS140159260076545510730939

Specificities related to the country or currency Payment in EUR is recommended ISK is a non-tradable currency. According to the Central Bank of Iceland, banks cannot purchase nor sell ISK. It is however possible to execute a payment in ISK from an ISK account to an account in the same currency

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JOD (Not handled by ING) Jordanian Dinar JO Jordan

Structure of account SEPA country: No Type: IBAN (mandatory) Structure: JO+2 numbers+4 letters+22 numbers and letters Example: JO01CBJO0123456789012345678901

Specificities related to the country or currency This currency is not offered by ING. It is however possible to make a payment in EUR (Euro) or USD (US Dollar) to Jordan

with the requirements below.

A payment to Jordan requires a purpose code of 4 numbers between /. Start your communication with the purpose code then fill in your own communication for the beneficiaryExample: /0106/ + your own communication

The list of purpose codes is available here

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http://www.ing.be/Assets/nuid/documents/JOD-Purpose-Codes-EN.pdf

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JPY Yen JP Japan

Structure of account SEPA country: No Type: Free Format Structure: no structure known (1 to 32 numbers). Both numbers and letters are possible Example: 01234567890123456789012345678902


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KWD Kuwaiti Dinar KW Kuwait

Structure of account SEPA country: No Type: IBAN (mandatory) Structure: KW+ 2 numbers + 4 letters + 24 numbers Example: KW81CBKU000000000000001234560101


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MAD Moroccan Dinar MA Moroco

Structure of account SEPA country: No Type: IBAN (mandatory) Structure: MA+24 numbers Example: MA157570211112233445500685


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MXN Mexican Peso MX Mexico

Structure of account SEPA country: No Type: Free Format Structure: Mexico has its own account structure called Clabe. Clabe = 18 numbers where- 3 numbers are the bank identifier- 3 numbers are the branch identifier- 11 numbers are the beneficiary account- 1 numbers is the control number

Example: 032180000118359719


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NOK Norwegian Krone NO Norway

Structure of account SEPA country: Yes Type: IBAN (mandatory) Structure: NO+13 numbers Example: NO9386011117947

Specificities related to the country or currency Payment in EUR or NOK is recommended No specific requirement known

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NZD New Zealand Dollar NZ New Zealand

Structure of account SEPA country: No Type: Free Format Structure: minimum 14 maximum 15 numbers. Both numbers and letters are possible Example: 01234567890123


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PLN Polish Zloty PL Poland

Structure of account SEPA country: Yes Type: IBAN (mandatory) Structure: PL+ 26 numbers Example: PL61109010140000071219812874

Specificities related to the country or currency Payment in EUR or PLN is recommended No specific requirement known

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RON Romanian Leu RO Romania

Structure of account SEPA country: Yes Type: IBAN (mandatory) Structure: RO + 2 numbers + 4 letters + 16 numbers and letters Example: RO49BUCU1B31007593840000

Specificities related to the country or currency Payment in EUR or RON is recommended Payment to swift code TREZROBU (Ministry of Public Finance):For payments in favor of an account belonging to the Ministry of Public Finance you have to provide the TIN (Tax Identification Number) of minimum 7 numbers at the beginning of the 3rd line + 4th line of your communication.

If your payment is related to Income tax: write twice the TIN (once on the 3rd line and a second time on the 4th line of the communication)Example:Line 1: Your own communicationLine 2: Your own communicationLine 3: 123456789Line 4: 123456789If your payment is related to VAT: write the remitter’s TIN on the 3rd line and beneficiary’s TIN on the 4th lineLine 1: Your own communicationLine 2: Your own communicationLine 3: 123456789Line 4: 987654321

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RUB Russian Ruble RU Russia

Structure of account

SEPA country: No Type: Free Format Structure: 20 numbers Example: 40001785413642336001

Specificities related to the country or currency

You can pay in RUB worldwide but instructions differ if you are paying a beneficiary located inside or outside Russia

Beneficiary in RussiaFor payments in Russian Ruble inside Russia the following requirements are mandatory and need to be present in the communication of your payment:- A VO Code: VO Code is a purpose code of 5 digits. The beneficiary must provide you with this information. Example:

VO20020- An INN code: also called TIN for Taks Identification Number, formed of 10 digits. Example: INN 5246003513- A BIK code: represents the identification of the beneficiary bank. It is a 9 digit code. Example: BIK 042202847- If VAT is applicable or not: VAT applicable or NO VAT applicable

Beneficiary outside RussiaFor payments in Russian Ruble outside Russia the following requirements are mandatory and need to be present in the communication of your payment:- A VO Code: VO Code is a purpose code of 5 digits. The beneficiary must provide you with this information. Example:

VO20020- If VAT is applicable or not: VAT applicable or NO VAT applicable

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SAR Saudi Rial SA Saudi Arabia

Structure of account SEPA country: No Type: IBAN (mandatory) Structure: SA+ 22 numbers Example: SA0123456789012345678901


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SEK Swedish Crown SE Sweden

Structure of account SEPA country: Yes Type: IBAN (mandatory) Structure: SE + 22 numbers Example: SE3550000000054910000003

Specificities related to the country or currency Payment in EUR or SEK is recommended No specific requirement known

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SGD Singapore Dollar SG Singapore

Structure of account SEPA country: No Type: Free Format Structure: no structure known (1 to 32 numbers). Both numbers and letters are possible. Example: 01234567890123456789012345678902


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THB Baht TH Thailand

Structure of account SEPA country: No Type: Free Format Structure: no structure known (1 to 32 numbers). Both numbers and letters are possible. Example: 01234567890123456789012345678902


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TND Tunisian Dinar TN Tunisia

Structure of account SEPA country: No Type: IBAN (mandatory) Structure: TN + 22 numbers Example: TN5914207207100707129648


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TRY Turkish Lira TR Turkey

Structure of account SEPA country: No Type: IBAN (mandatory) Structure: TR + 24 numbers Example: TR330006100519786457841326


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USD American Dollar US America

Structure of account SEPA country: No Type: Free Format Structure: Beneficiary Account (no length defined) + ABA + Routing code (9 numbers) Example: 0123456789ABA021000021

Specificities related to the country or currency Routing code is also called Federal Wire (FW), ABA (American Bankers Association), Routing number, and is always

constituted of 9 digits.

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ZAR South Africa Rand ZA South Africa

Structure of account SEPA country: No Type: Free Format Structure: no specific structure for this country. Both numbers and letters are possible Example: 01234567890123456789012345678902

Specificities related to the country or currency Beneficiaries in South Africa must provide a BOP (Balance of Payment) report to their banks before being credited.

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