Credit transfers

The credit transfer is still one of the most often used transfers. There are three types:

• In Belgium.This is the classic method, by which you give your bank the order to transfer a certain amount to another account in Belgium, by debiting your account.
• Cross-border .This involves a transfer within the euro zone. The charges are aligned with national transfers. A cross-border transfer has the following characteristics:
  
• A transaction in euro within the European Union
• A maximum amount of € 50,000
• Account number shown in an IBAN (International Bank Account Number) format, comprising the country code, a two-figure security number and the account number
• BIC code (Bank Identifier Code, also known as the SWIFT code)
• Split costs
  

  Do not forget to send your IBAN and BIC codes to your contacts abroad (shown on the bank statement). Ask for your beneficiary's IBAN and BIC codes before effecting any cross-border payments.
  

• Foreign payment. For all payments in other currencies ,outside the euro zone or who do not correspond to the two other types, your Banca Monte Paschi Belgio branch will advise you.