Payment orders of June 19,2024
Please be informed that due to the technical impediments, SWIFT Payment orders delivered and received on June 19th, 2024 may be booked with a delay.
For more information please contact Customers Service or your Contact Persons via mobile phone.
The Corresponding Banking Department is responsible for establishing cooperation with other financial institutions and its further development. This is the first point of contact for banks interested in starting the cooperation with ING Bank.
Currently, ING Bank maintains about 100 LORO accounts for banks, which due to high service level and flexible approach to Client needs decided to use no other service but the service of ING Bank.
As a correspondent Bank we care for ensuring the highest quality of services within the area of execution of settlements and payments, documentary operations, custody services and financial markets. We are ready to introduce to you our new offer of maintaining an PLN account for banks.
We are happy to invite you to cooperate with us.
Correposndent Banking offer
- Bank account
To open the LORO account it is necessary to conclude the LORO Account Agreement that is available at our account managers.
Under the LORO Account Agreement, as a standard the bank provides for the client the possibility of effecting interbank and client orders, receiving bank statements via SWIFT and delivery of interest statements.
Offer advantages:
- account opening – free of charge
- account maintenance – free of charge
- possibility to set the intraday limit
- no requirement to maintain the minimum balance
- Interbank payment orders
In order to ensure high quality of handling LORO Clients’ orders, MT20X interbank transfers are effected via gross settlement systems in real time. Moreover, due to specific features of the said messages, the Bank applies preferential hours of placing orders for interbank transfers.
Taking care of liquidity of its LORO clients, ING Bank requires that its LORO MT210 clients inform the Bank about expected inflows, which accelerates execution of orders and enables monitoring of the client’s balance which prevents generation of costs under debit balance in the LORO client account.
Offer advantages:
- no fees for incoming transfers
- competitive cut-off hours for submitting the instructions
- attractive prices with respect to executed instructions
- monitoring of the balance in the client’s account
- Commercial payment orders
By effecting MT103, ING Bank acts in line with guidelines of the European Union Directive (Payment Services Directive): it does not decrease transfer amounts of its clients with due commissions and terms of transfers’ execution are adjusted to EU requirements. Execution of commercial orders takes place with zero value date.
Offer advantages:
- transparency of incurred fees,
- being ahead of market standards pertaining to time in terms of clearing of the commercial orders,
- guaranteed OUR.
- Clearing systems
In order to execute LORO Clients transfers we use the following clearing systems:
For PLN transfers:
- ELIXIR
- beneficiary’s bank: branches of domestic banks
- amount limit: PLN 1 000 000
- format: required account number in IBAN/ NRB format
- clearing: three clearing sessions
- SORBNET
- beneficiary’s bank: domestic banks participating in the clearing process
- amount limit: transactions for large amounts – mandatorily above PLN 1 000 000 and urgent transactions
- clearing: in real time
For EUR transfers:
- EuroELIXIR (STEP2)
- amount limit: EUR 50 000
- format: IBAN, BIC, SHA cost option
- clearing: two clearing sessions
- EuroELIXIR - domestic
- amount limit: no limit
- format: IBAN, BIC, any cost option
- clearing: two clearing sessions
- EBA
- amount limit: no limit
- format: IBAN, BIC, any cost option
- clearing: clearing session
Other currencies handled by ING Bank:
- SWIFT
- beneficiary’s bank: all banks apart from the ones on which the sanctions are imposed
- amount limit: no limit
- format: any – STP is a preferred one
- clearing: depending on currency availability
Offer advantages:
- diversification of clearing risk
- shortening of the execution’s lead time by providing possibility to choose the most effective ways of clearing
- lowering the cost of the execution by providing possibility to choose the most effective ways of clearing
- ELIXIR
- Reports/Account statements/Payment slips
In order to meet clients’ expectations we offer various types of SWIFT bank accounts:
- abridged end of day statement (MT950)
- extended end of day statement (MT940)
- intraday statement (MT942)
- balance confirmation (MT941)
- confirmation of account debiting (MT900)
- confirmation of account crediting (MT910)
- interest statement
- account preview in electronic banking
Offer advantages:
- easy reconciliation of the account
- effective management of liquidity
- immediate information about received funds
- immediate information about the executed transfer
- immediate information about balance change
- transparency of collected and accrued interest
- Additional services for Banks
MT101/9XX
As part of co-operation with other banks, not only those holding accounts with us, we offer a service enabling client’s account management in our Bank or in another bank via MT101 messages and delivery of statements by SWIFT or electronic banking, respectively.In order to establish cooperation within the said scope banks need to conclude a Bilateral Agreement.
Trade finance:
Within the trade finance products ING Bank acts as an intermediary in execution of guarantees, letters of credit and documentary collection, also ING Bank issues and handles the re-guarantees and guarantees for re-guarantees.
Standard Settlement Instructions (SSI)
Currency | Correspondent Bank | SWIFT | Account |
---|---|---|---|
AUD | Commonwealth Bank of Australia, Sydney | CTBAAU2S | 06796710001696 |
BGN | ING Bank NV, Sofia Branch | INGBBGSF | BG35INGB91451002442512 |
CAD | Bank of Montreal, Montreal | BOFMCAM2 | 3169-1055-407 |
CHF | UBS AG, Zurich | UBSWCHZH | CH180023023006402105X |
CZK | ING Bank N.V., Prague Branch | INGBCZPP | CZ03 3500 0000 0090 0043 9006 |
DKK | Nordea Bank Danmark A/S, Copenhagen | NDEADKKK | 500-000-7540 |
EUR | ING Bank N.V., Amsterdam | INGBNL2A | NL74INGB0050910302 |
GBP | The Royal Bank of Scotland Plc, Edinburgh | RBOSGB2L | GB17RBOS16003410003561 |
HUF | ING Bank Rt., Budapest | INGBHUHB | HU73137000160023655700000000 |
JPY | Mizuho Corporate Bank Ltd., Tokyo | MHCBJPJT | 4948010 |
NOK | DnB NOR Bank ASA, Oslo | DNBANOKK | NO05 7002 0205 677 |
PLN | National Bank of Poland (NBP), Warsaw | NBPLPLPW | PL54101000391050000210000000 |
RON | ING Bank NV, Bucharest Branch | INGBROBU | RO 14 INGB0001008682058910 |
SEK | Skandinaviska Enskilda Banken AB, Stockholm | ESSESESS | 55558504528 |
TRY | ING Bank AS Istanbul | INGB TR IS | TR680009900007665200100002 |
USD | JPMorgan Chase Bank, New York | CHASUS33 | 001-1-230554 |
ZAR | FirstRand Bank Ltd, Johannesburg | FIRNZAJJ | 9020411 |
STP Requirements
In order to reduce cost and to shorten the lead time of payment orders we recommend that the enclosed herewith STP guidelines be applied:
STP requirements - valid from November 2023
Table of fees and commisions
Table of fees and commisions - valid from 1 December 2022
Table of fees and commisions - valid from 1 December 2020
Table of fees and commisions - valid from 16 December 2019 to 30 November 2020
Table of fees and commisions - valid from 16 September 2017 to 15 December 2019
Table of fees and commisions - valid from 1 June 2017 to 15 Spetember 2017
General Terms and Conditions
General Terms and Conditions of Opening and Maintaining LORO Bank Accounts Processing Customers Payment Orders - valid from 17 June 2024
General Terms and Conditions of Opening and Maintaining LORO Bank Accounts Processing Customers Payment Orders - valid from 1 February 2023
General Terms and Conditions of Opening and Maintaining LORO Bank Accounts Processing Customers Payment Orders - valid from 1 September 2022
General Terms and Conditions of Opening and Maintaining LORO Bank Accounts Processing Customers Payment Orders - valid from 1 February 2020
General Terms and Conditions of Opening and Maintaining LORO Bank Accounts Processing Customers Payment Orders - valid from 5 May 2019
Message:Restrictions regarding processing of Payment Instructions - valid from 11 April 2023
Message:Restrictions regarding processing of Payment Instructions - valid from 11 May 2022
Message:Restrictions regarding processing of Payment Instructions - valid from 27 May 2019
ING Bank Slaski S.A. KYC Risk Appetite Statement. Correspondent Banking.
ING Bank Slaski S.A. KYC Risk Appetite Statement. Correspondent Banking.
Cut-off time for LORO Customers
For PLN
Type of transfer | Cut-off time | ||||
---|---|---|---|---|---|
In favour of third-party bank clients | 2:00 p.m. | ||||
Interbank transfers in favour of LORO clients of third-party banks | 2:00 p.m. | ||||
Transfers between accounts in ING Bank | 4:00 p.m. | ||||
Incoming transfers in favour of LORO clients in ING Bank | 4:00 p.m. | ||||
MT210 notice to receive | 12:30 p.m. |
For other currencies
Currency | Cut-off time | ||||
---|---|---|---|---|---|
EUR | 2:00 p.m. | ||||
USD | 2:00 p.m. | ||||
GPB | 12:00 p.m. | ||||
CZK | 11:00 a.m. | ||||
CHF | 11:00 a.m. | ||||
HUF | 1:00 p.m. |