Home>Medium Companies>Payments Business efficiency is dependent, among other things, on efficient and reliable payments and cash management. Citibank offers fast and accurate processing of payments through online banking. Use payment tools that save your business time and money. Our solution Quick processing and execution of payment orders and direct debits. Payment orders and direct debit orders can be submitted through internet banking 24 hours a day, 7 days a week. A wide network of Citibank branches and correspondent banks ensures that foreign currency transfers are carried out quickly. Payment orders can be submitted individually via internet banking or by importing data from your accounting system. Account statements can be exported to your accounting programme - account statement specification. Express payments will be credited to the beneficiary's account on the same day they are sent - banks accepting express payments. A secure payment system. Attractive exchange rates. Citibank's strong position on the foreign exchange market brings you savings thanks to favorable exchange rates for all major global currencies. Currently applicable binding deadlines that clients must meet to ensure that their payment order is accepted for processing on the same business day - Info Sheet. Foreign currency payments A foreign currency transfer is any payment denominated in foreign currency (to a bank in the Czech Republic or abroad) and a payment denominated in CZK to a bank abroad. SEPA payments are noncash transactions in EUR within the EEA and Switzerland. The payments must meet the basic criteria, i.e., BIC and IBAN and SHA charges ("shared"). You may design a package of products (account fee plan) tailored to the specific needs of your business. As Citibank is able to conduct foreign payments through its own global branch network, it can offer low fees on foreign currency transfers. Fees for outgoing foreign currency transfers decrease with their increasing number (depends on fee plan). Foreign currency transfers may be submitted via internet banking. Individual exchange rates for foreign currency transfers The service may be used for transactions above USD 10,000 or the equivalent in another foreign currency. The client submits a foreign currency transfer via internet banking. Instructions can be found in the Internet banking manual The client then calls the CitiBusiness Dealing service for a quote on the individual exchange rate for the specific transfer. If the client consents to the quote, he/she confirms it verbally, and Citibank will execute the payment. If he/she does not consent to the quote, he/she can wait for the development of the exchange rate over the course of the day or may cancel the payment in writing. The service may also be used for transfers between the client's Citibank accounts in various currencies. BIC codes of correspondent banks This service helps you quickly and efficiently deposit an amount in Czech crowns into accounts opened at Citibank through the network of more than 3,000 branches of Czech Post. Pre-filled, type A postal orders are used for making a deposit. It is not necessary to conclude any additional agreement with Citibank to use this product. The only condition is having a current account with Citibank. Pre-filled, tape A postal orders are available through the CitiPhone customer line or by submitting a request to Citibank. With this service, you or a third party to whom you offer Citibank Deposit can deposit money into your accounts with Citibank at any branch of Czech Post. Click on to expand and on to minimise the details. What is the deadline for submitting a payment order if I want it to be processed on the same business day? When will the payment be credited to the beneficiary's account? Information on the time limits for the delivery of a payment order and crediting payments to accounts can be found in the Info sheet. Can I cancel a payment order that I have submitted? Once a payment has been processed by the system, it cannot be cancelled. If you make a mistake when entering the order and need to cancel the payment, contact the CitiPhone customer line. If you are entering an instruction for future processing (like a standing order or a direct debit approval), you may change, cancel, or suspend it at any time. Which cash transactions do I need to present my personal ID for? Personal ID is required for any cash withdrawal or deposit over EUR 1,000 or equivalent in another currency. Foreign payments I'd like to send CZK to a bank account abroad. Should I enter this transaction as a domestic or foreign payment? I'd like to send a payment in foreign currency to a bank account in the Czech Republic. Should I enter this transaction as a domestic or foreign payment? These transactions must be entered as foreign payments. Domestic payments are used only for the transfer of CZK between banks registered in the Czech Republic. Czech banks include the Czech branches of a foreign bank. Foreign currency payments are all payments made in a foreign currency (both sent to a bank in the Czech Republic and abroad) as well as payments in CZK that are sent abroad. Where can I find my account number in the IBAN format and what is it used for? You will find your account number in IBAN format on your statements. IBAN is used for foreign payments. What is BIC and when is it used? BIC is the bank identification code for foreign payments. It must be used in foreign transactions (including CZK transfers abroad). BIC codes of correspondent banks. Internet banking - login CitiPhone customer line Online form - enter your contact information and we'll call you