Information about Payments in regards to euro conversion

General information about domestic and cross border transfers

• Starting from 1 January 2009 the Bank will not accept domestic and cross border payment orders in Slovak currency with value date 1 January 2009 and later.
• The Bank will not execute transfers with value dates on 2 January 2009. Payment orders with this value date will be executed on 5 January 2009. The Bank will credit incoming payments with a value date 2 January 2009 to the recipient’s accounts on 5 January 2009.
• All valid payment and standing orders in Slovak currency delivered to the Bank before 31 December 2008 remain effective and will be processed according to their value dates, but on 5 January 2009 at the earliest. The Bank will convert the amounts indicated in the payment and standing order to EUR using the conversion rate and the rounding rules.

Specific information about domestic transfers

• Payment orders in Slovak currency with value date on 31 December 2008 will Bank accept on 31 December2008 up to 9:00 a.m. at the latest. The transfer amount on the payment order received by the Bank by the stated time will be transferred to the recipient’s account in the Bank (inter bank payment) or to the account of the recipient’s bank (intra bank payment) up to and including 31 December 2008.
• Payment orders delivered to the Bank on 31 December 2008 after the indicated time, but up to 5:30 p.m. will be processed according to their value dates, the earliest being by 5 January 2009 in the euro currency after the changeover using the conversion rate and the rounding rules, i.e. the transfer amount will be debited to the order party’s account in the year 2009 at the earliest.
• The Bank will process payment orders with value dates 1 January 2009 – 5 January 2009 according to their value dates, but on 5 January 2009 at the earliest.

Specific information about cross border transfers

• Bank will accept payment orders in Slovak currency abroad and in the foreign currency up to 29 December 2008 according to agreed conditions for processing.
• All payment orders in favor of other banks clients with value date 30 December 2008 will Bank accept up to 30 December 2008 until 12:00 a.m. The transfer amount on the payment order received by the Bank by the stated time will be transferred to the account of the recipient’s bank with value of one banking day in order to transfer the funds still in the 2008.
• All payment orders in favor of other banks clients received on 30 December 2008 after the stated time and on 31 December 2008 until the cut-off time will be processed only in the 2009 according to their value dates, but on 5 January 2009 at the earliest with the value of two banking days.
• The Bank will accept intra bank payment orders with value dates 30 December 2008 up to 30 December 2008 until 4:00 p.m. (payment orders without conversion) and until 12:00 a.m. (payment order with conversion). The transfer amount on the payment order received by the Bank by the stated time will be transferred to the account of the recipient’s bank on 30 December 2008.
• The Bank will accept urgent (express) payment orders with value dates 30 December 2008 in SKK, EUR and USD currencies up to 30 December 2008 until 10:00 a.m. The transfer amount on the payment order received by the Bank by the stated time will be transferred to the account of the recipient’s bank on 30 December 2008.
• Urgent (express) payment orders in SKK, EUR and USD currencies and intra bank payment orders with value date 31 December 2008 received by the Bank on 31 December 2008 until 9:00 a.m. will be transferred by the Bank to the account of the recipient’s bank (inter bank payment) or to the recipient’s account (intra bank payment) on 31 December 2008.
• The Bank will process payment orders with value dates 1 January 2009 – 5 January 2009 according to their value dates, but on 5 January 2009 at the earliest, and with the value of two banking days.

Exchange services and cash desk hours

The Bank modifies Exchange services and cash desk hours in the following way:

Statements

• Electronic statements as from 31 December 2008 will be available during 1 January 2009 at the earliest
• Paper based statements will as from 31 December 2008 will be available on 2 January 2009 at the earliest

Changes in the Payments area in the 2009

• The Bank changes the processing of domestic transfers as from 1 January 2009. The Bank will debit the transfer amount from the account of the ordering client according to the value date on the payment order. In the case payment order doesn’t contain value date; the Bank will debit the transfer amount from the account of the ordering client on the date when the payment order is received. The Bank will send the transfer amount stated on the payment order to clearing always with the value date of the following banking day.
• The Bank introduces new category of cross border transfers – Specially regulated cross border transfers. The payment order has to meet following criteria in order to qualify for such payment – the transfer amount doesn’t exceed 50.000 €, the transfer amount is intended for recipient in any of EEA countries, the payment contains all: IBAN of recipient, BIC of recipient’s bank and payment instruction SHA. Specially regulated cross border transfers are charged as domestic transfers.
• The Bank changes processing of priority payments to payments processed in real time – RTGS (Real Time Gross Settlement) with immediate settlement via clearing system TARGET2. The Bank will process RTGS payments in the euro within Slovak Republic and to countries of EEA.