 |
FOREIGN SYSTEM OF PAYMENTS |
|
| |
  | Foreign system of payments |
| |
Foreign payments (payment or bank transfer) are the most widespread and simplest payment instrument in the international non-cash payment system. Foreign payment is a transfer of financial funds ordered by a client of one bank in favour of a client of another bank. Payments are carried out through interbank accounts of the sender's and the beneficiary banks or, if necessary, of intermediary banks.
| |
| SEPA EuroPayment |
| |
So you make payments in EUR? Then SEPA EuroPayment is here for you - it is a European Council project for payment systems. The aim is to integrate the payment system and create a single euro payment area. It will enable payers to make cashless payments to the credit of payees anywhere in the euro area using a single account and a single system of payment tools.
