4. Transfers

In force from 18.09.2023.

SHA - The payer pays the commission fee set by Industra Bank for the transfer. All other commission fees related to the transfer (fees of the Correspondent Bank, Intermediary Bank and the Beneficiary's payment service provider), if any, shall be paid by the Payee. The transfer of the payment into the Payee's account shall be performed by the Payee's payment service provider after deducting all commission fees, if any, from the amount of the transfer. 
 
OUR - All commission fees related to the transfer (Industra Bank, Correspondent Bank, Intermediary Bank and Payee's payment service provider commission fees) shall be paid by the Payer. The Payer also undertakes to pay all additional fees charged by the banks involved in the execution of the transfer, if any. Industra Bank retains the right to deduct additional commission fees from the Client's Accounts without seeking prior approval. The Payee's payment service provider must credit the Payee's account with the full amount of the transfer.  Industra Bank is not responsible if the Correspondent Bank, the Intermediary Bank or the Payee's payment service provider has not complied with the instructions of Industra Bank or the transfer has not been received in full due to other reasons beyond the control of Industra Bank.   

¹ An additional commission fee - 0.3% of the amount (min. EUR 20.00), is applied for crediting an incoming payment to the account of a client of Industra Bank made from a credit institution whose countries (ex. Russia, Belarus) are subject to international sanctions.
² An additional commission fee - 0.3% of the amount (min. EUR 20.00), is applied for debiting an outgoing payment from the Industra Bank client’s account made to a credit institution whose countries (ex. Russia, Belarus) are subject to international sanctions.
³ Under condition of receiving message in SWIFT MT 103 format where Client's account number in IBAN format is specified correctly.        
⁴ Prerequisites for SEPA-transfer: 
- the beneficiary account number must be in IBAN-format;
- the beneficiary bank identification code (SWIFT/BIC) must be indicated;
- the payment is being sent to an EEA⁹ country;
- if the beneficiary bank is not a member of EEA⁹, the transfer is sent to the beneficiary as an international transfer and an appropriate fee is applied;
- the currency of payment is Euro;
- the type of payment is standard;
- the remitter pays the SHA charges (the charges are shared) of his/her own bank only;
- details of the beneficiary bank and of the beneficiary are correct."        
⁵ According to the Appendix Nr.1.
⁶ Transfers in USD, RUB, GBP, PLN, KZT are made only with the prior approval of the Bank.
⁷ Domestic transfers to/from another bank in Latvia.
⁸ If the additional fees charged by the banks involved in the execution of the transfer occur, Industra Bank has the right to deduct additional fees from the Customer's Accounts without seeking prior approval.
⁹ The EEA (European Economic Area) countries –  EU countries (Austria, Belgium, Bulgaria, Czech Republic, Denmark, France, Greece, Estonia, Italia, Ireland, Cyprus, Latvia, Great Britain, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Finland, Spain, Hungary, Germany, Sweden) and Island, Liechtenstein, Norway, Switzerland.