International payment transactions

Karlovačka banka d.d. is authorized to perform direct payment transactions abroad. Direct participation in SEPA and Target2 payment systems as well as extensive network of correspondents and communication via SWIFT enables prompt and quality execution of payment orders worldwide.

For business purposes abroad, at the time of opening of your account, the Bank will provide you with IBAN – International Bank Account Number which enables automatic processing of your payments and in flows.

Payment channels

Cross-border payment orders in EUR are executed primarily through EuroNKS which is a payment system that enables settlement of cashless cross-border payments in EUR of all participants using SEPA standard.

If a business entity requires urgent execution of the cross-border payment order in EUR or delivers a payment order not compliant with SEPA standard, such payment order is executed through TARGET2 or SWIFT.

Cross-border payment orders in currencies other than EUR and all international payment orders are executed via SWIFT.

SEPA in the Republic of Croatia

Migration plan 

Migration plan – Appendix 1.

Migration plan – Appendix 2.

Migration plan – Appendix 3.

Foreign currency payments

Foreign currency payments can be placed through electronic banking or delivered to the Bank on paper.

Urgent execution can be requested for payment orders in EUR and USD. The corresponding fee will be calculated in accordance with currently valid Decision on fees for performing banking services and the orders will be executed according to the Schedule.

The Bank will execute payment orders containing charges option SHA (shared charges) or OUR (all charges are for the account of the payer).

Payments and collections in foreign currency between residents in the Republic of Croatia can be effected only in cases prescribed by statutory and by-law regulations.

Payments and collections between residents and non-residents for certain types of capital transactions can be effected exclusively in domestic currency and in accordance with legal and subordinate regulations.

Standing Settlement instructions

Payment instructions

Foreign currency in flows

In order to receive foreign currency funds you should provide the payer with your IBAN and SWIFT/BIC code of the Bank which are available to you via electronic banking, at the Bank’s branches and are stated on the Contract on transaction account.

Documentary collections and payments

Documentary collection is a written order of the exporter to the Bank to deliver to the importer the presented documents on the basis of which the importer can dispose of the goods provided that certain conditions from the collection have been fulfilled:

  • Payment
  • Bank acceptance
  • Fulfillment of other stipulated conditions

Simple procedure and lower costs are main advantages of this type of collection. The risk in this business is the same for all business partners.

The following types of documentary collections are available to you:

  • Documents against Payment (D/P) – delivery of documents against payment
  • Documents against Acceptance (D/A) – delivery of documents against acceptance of a bill

In addition to commercial documents, acceptance of a bill of exchange is also possible. The Bank will credit the beneficiry’s account upon the receipt of funds from abroad.

Letter containing the following details must be submitted for the acceptance of a bill:

  • Details of the bill of exchange (file number, date of issue, amount)
  • Details of the beneficiary (name, account number with the bank, basis for collection)

The bill of exchange should be endorsed beforehand.

Letters of credit

Documentary letter of credit is a payment instrument in international trade in which the Bank, in accordance with client’s request and instructions (importer/exporter) assumes the obligation of payment or requests the payment through a bank which is a participant in the letter of credit. Orderly letter of credit documents as specified in the terms of the letter of credit which are presented within the established deadline represent the basis for the procedure.

If you are the buyer/importer, the Bank opens an import letter of credit at your request and forwards it abroad. Payment by letter of credit gives you security because Karlovačka banka will effect the payment only upon receipt of valid letter of credit documents that indicate that the delivery of goods has been made according to required quantity and quality.

If you are the seller/exporter, the received letter of credit gives you security in collection of delivered goods or services rendered under the condition that you have presented to Karlovačka banka all documents in accordance with conditions of the letter of credit.
If a confirmation is added to the letter of credit, then the confirming bank assumes the obligation of effecting the payment under the letter of credit upon presentation of valid documents.



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