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Additional fees and processing times for International Payments

Outbound payments:

  • - Regular payment (2-5 business days) - 7 Eur + 0.25%
  • - Expedited payment (2 business days)* - 50 Eur + 0.25%
  • - Express payment (same day)* - 250 Eur + 0.25%
* send request using our message service

Inbound payments:

  • - Payments < 12,500 Eur - 20 Eur
  • - Payments < 50,000 Eur - 100 Eur
  • - Payments > 50,000 Eur - 100 Eur + 0.25%

How do you activate your IBAN starting with the country code GB?

Please wire the funds to this IBAN or instruct your partners / colleagues to make payment. Please make sure they spell your name / company name correctly. Transfer among EU PAY users or transfer between accounts will not activate your account.

Payments between GB and DE IBANs

For payments from IBANs starting with a country code GB to IBANs starting with a country code DE or vice versa, please use the OWT (Outgoing Wire Transfer) form.

Minimum Required Balance

EU PAY requires their customers to maintain a certain monthly balance in their payment accounts. Failing to comply with the monthly average balance or MAB rules - or minimum balance rules - attracts penalty charges applicable to the customer.

​Below are the MAB thresholds:

Personal Accounts:

  • - Lite > 0 Eur
  • - Basic Personal Account > 10 Eur
  • - Premium Personal Account > 100 Eur

Merchant Accounts:

  • - Freelancer > 50 Eur
  • - Mini-Merchant Account > 300 Eur
  • - Merchant Account > 900 Eur
  • - Professional Account > 1,500 Eur

Payments made to EU PAY virtual IBANs are stored in a network of stable European banks. Our customers' funds are also ringfenced, safeguarded against losses and will never be reinvested by us.

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Public Holidays

We will not process payments on the following dates:

  • - Good Friday 19 April 2019
  • - Easter Monday 22 April 2019
  • - Labor Day 1 May 2019
  • - Ascension Day 30 May 2019
  • - Whit Monday 10 June 2019
  • - Corpus Cristi 20 June 2019
  • - Assumption Day 15 August 2019
  • - Day of German Unity 3 October 2019
  • - Day of Reformation 31 October 2019
  • - All Saints Day 1 November 2019
  • - Repentance Day 21 November 2019
  • - Christmas Day 25 December 2019
  • - Boxing Day 26 December 2019

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Pre-Advice

All customers are required to pre-Advise EU PAY Ltd. of all individual incoming payments, equal or above 50,000 Eur to ensure that such funds may be credited to accounts. The pre-Advice should be clear and concise, and provide the following information relating to each incoming payment:

  • - Currency and Amount
  • - Value Date
  • - Name of Remitting Entity
  • - Purpose of Transaction (Invoice / Contract)

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My Payment is not Credited yet

As we are not the remitter of these funds, to locate the funds a trace would need to be initiated from the remitting side. Please, note that the credit of funds depends on the payment method in which the remitter sent them. You can wait until close of business to see if the funds credit your account, and if they don’t we suggest you contact the remitter.

Acceptable Use Policy

You may use our Services only for lawful purposes.

You may not use our Services:

  • - in any way that breaches any applicable local, national or international law or regulation or causes EU PAY to breach any applicable law or regulation;
  • - in any way that is unlawful or fraudulent, or has any unlawful or fraudulent purpose or effect;
  • - for the purpose of harming or attempting to harm minors in any way;
  • - for anything that is abusive or does not comply with our content standards;
  • - for any unsolicited or unauthorised advertising or promotional material or any other form of spam; or
  • - to deal in harmful programs like viruses or spyware or similar computer code designed to adversely affect the operation of any computer software or hardware;
  • - in any way that would locally or internationally evade any applicable taxes or facilitate tax evasion.

We do not provide our Services to businesses or support transactions which involve:

  • - tobacco, narcotics, steroids, cannabis, certain controlled substances or other products that present a risk to consumer safety;
  • - drug paraphernalia (equipment, product, or material that is modified for making, using, or concealing drugs) or transactions which involve or related to pharmaceuticals;
  • - seeds or plants;
  • - chemicals;
  • - military & semi-military goods & services (including weapons, military software or technologies); adult content;
  • - individuals, entities or countries which are subject to international sanctions;
  • - smart drugs / nootropics;
  • - plagiarism services, multi-level marketing schemes, CFD/options traders located in offshore;
  • - illegal activities, support of terrorism (including eco-terrorism and groups that support similar such activities), extremism, violence, insurgency;

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Not Supported Countries

We don't have the system for monitoring and analysis of financial transactions and algorithms for processing information identifying suspicious transactions initiated by / to the following countries so the payments from / to the countries below will be rejected / not-processed

Afghanistan
Albania
Algeria
Angola
Antigua
Bahamas
Bangladesh
Barbados
Bolivia
Bosnia
Burkina Faso
Burundi
Cambodia
Cameroon
Cayman Islands
Central African Republic
Chad
Colombia
Cook Islands
Congo DR
Cote d’Ivoire
Cuba
Cyprus
Egypt
Eritrea
Estonia
Ethiopia
Gambia
Guinea
Guinea Bissau
Haiti
India
Indonesia
Iran
Iraq
Israel
Jamaica
Kenya
Laos
Lebanon
Lesotho
Liberia
Libya
Madagascar
Mali
Mexico
Mozambique
Myanmar
Nepal
Niger
Nigeria
North Korea
Pakistan
Palestinian Authority
Panama
Paraguay
Phillippines
Russia
Sao Tome and Principe
Saudi Arabia
Serbia
Sierra Leone
Somalia
Sri Lanka
South Sudan
Syria
Tajikistan
Tanzania
Tunisia
Turkey
Ukraine
Uganda
Uzbekistan
Vanuatu
Venezuela
Virgin Islands
Yemen
Zambia
Zimbabwe

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Payments SEPA & Target 2

You can use your account to receive and make SEPA payments and Target-2 payments as long as your bank is reachable via Target- 2

Required Payment Information

To make a transfer (via SEPA/SWIFT etc.) a customer must provide:

  • 1. Name of the recipient;
  • 2. Identity of Payment Service Provider for the recipient;
  • 3. Currency Payment Transaction is to be made in;
  • 4. Country where account of the recipient is located; and
  • 5. The Unique Identifiers of recipient’s account, namely
  • (A) if Client is making a Pound Sterling payment into an account in the UK, the recipient’s sort code and account number; or
  • (B) if Client is making a non-euro payment into an account outside the UK or a SEPA Credit Transfer, the recipient’s IBAN.

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Payments starting with a country code GB to IBANs starting with a country code DE or vice versa

For payments from IBANs starting with a country code GB to IBANs starting with a country code DE or vice versa, please use the OWT (Outgoing Wire Transfer) form.

Handling Fees for Refund Requests

  • FRAD – Fraud – 500 Eur
  • CUST - Requested by customer – 250 Eur
  • TECH - Technical problems resulting in erroneous credit transfer – 50 Eur
  • AC03 - Recipient-IBAN wrong – 50 Eur
  • AM09 - Wrong amount – 50 Eur
  • DUPL - Duplicate Payment – 50 Eur

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