Correspondent Banking

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:

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:

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:

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:

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: