MOLDINDCONBANK

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Cash payments and transactions

Conditions for performance of urgent credit transfer

Extract from the Regulations regarding the carrying out of loan transfers at Moldindconbank approved by the Board of Directors of the Bank, report N.2, from 24.02.2012.

According to the regulations of the National Bank of Moldova, beginning with the 1st of November 2007, any loan transfer including the ordinary and budget ones, regardless of the deposited sum can be requested for execution in ordinary or urgent system.

With that end of view, in the payment order presented to the Bank at the heading “The type of transfer”, the corresponding mention is applied “N” for normal (ordinary) or “U” for urgent transfers.

The payment order with the mention “U” undergoes the identification of the person from the Bank responsible at the moment of delivering it and in the case of accepting it, as a result of corresponding of the entire stipulated requirement, it proceeds as it follows.

In the case of a transfer of an urgent loan, the execution of which, implies the use of the Internal Informational System of the Bank (as far as the branch, bank).

• the person responsible from Bank office:
  • makes the electronic payment order, after the payment order presented on paper holder.
  • checks the electronic payment order registered in the system “Bank client”.
• the person responsible for the current checking of payment documents verifies the correctness of the electronic document and authorizes the implementation of loan transfer, finishing the stage with the discount of the adherent sum from the bank account of the payer and registering it in the bank account of the beneficiary.

As a rule, the payment order adherent to the transfer between banks, requested in urgent system, is carried out by registration of the deposited sum in the bank account of the beneficiary at most in an hour.

In the case of the transfer of an urgent loan, the execution of which imposes the use of Automatic system of Interbank Payments (ASIP)

• the person responsible from Bank office:
  • creates the electronic payment order according to the payment order registered in the system “ Bank client”
  • the person responsible for the current check of the payment documents, verifies the correctness of the electronic document and authorizes the implementation of the loan transfer, finishing the stage with the bank account payment order to the Discount Center of the Central Bank.
• the person responsible within the Discount Center, follows the instructions of the NBM and sends the document to A.S.I.P.

As a rule, the payment order adherent to the loan transfer between banks, requested in urgent system, is carried out by registration of the deposited sum in the bank account of the beneficiary administered in another bank, at most two hours.

Example: Currency operations