Domestic Payment Services

Opening MKD Payment Account

Аccounts to domestic legal entities and physical entities, carrying out registered activity, are opened based on the following documents:

1. Decision for registration at the Trade Register i.e. registry of the authorized body in the RM (if registration is stipulated by law)
2. Founding act from an authorized body (if the participant has not been registered).
3. Extract from the law (if the participant has been founded according to the law).
4. Decision from competent court on opening receivership or liquidation procedure
5. Registration of authorized signatories who operate with the funds on the account, including the signature and the stamp which will be used for certifying the payment instruments and ID of the authorized person (ZP form)
6. Declaration for accepting and realizing acceptance orders issued until 30 June 2001 (for persons who carried out activity before 2002)
7. Proof that the account was transferred by the Ministry of Finance - Public Revenue Office (for persons that did not migrate from the Payments Service in 2001).

The original documents or notarized copies are delivered to the Bank for verification of data. The Bank permanently keeps copy of the documents in its archive.

The Bank also keeps copy of the IDs of the manager and account signatories. When a second or subsequent account is opened, the Bank's client would submit the documents for opening an account only if they have been changed..

In addition to the above-mentioned documents, the participant in the payment services also signs in the Bank's premises:

• One copy of the Request for opening, modifications and termination of payment account with Silk Road Bank AD Skopje
• Two copies of the Application for persons authorized to dispose with assets on the account opened with the Bank, signed by the manager (or authorized person) of the legal entity and certified with the stamp of the legal entity.

After signing the contract by both parties, the newly opened account is activated and will be ready for conducting payment services after it will be registered in the Single Registry of Payment Accounts. The participant in the payment services is responsible for notifying the Bank in writing about all status and other changes no later than three days as of the occurrence of the change.


Request
Signature sheets
Application for client identidication

Credit Transfer

Credit transfers may be carried out from the client's account in the amount of the account coverage in the moment of implementing the payment instrument.

The client may set priority for implementing the payment instruments that they delivered in the Bank. The payment instrument must be signed by the authorized account signatories, as per the Registration of persons authorized to operate with the account funds.

Non-cash payments are carried out, as follows:

• At the Bank's desks, regarding payment instruments in hard copy
• E-banking.

Types of Payment Instruments

A payment instrument is a predefined form with unique appearance and content.

• Payment slip - PP10 form
• Cash payment order - P40 form
• Cash remittance - PP41
• Transfer order - PP30
• Collective transfer order - PP31 form (debited from single instructing party and credited to single recipient on several bases)
• Collective transfer order - PP32 form (debited from single instructing party and credited to several recipients)
• Public revenues payment order - PP50 form
• Collective payment order for salary debited from the account of a single instructing party and credited to several recipients - PP53 form.

Using inflows

All inflows on the clients' accounts with the Bank may be used immediately after they are received.
The inflows may be:

• Internal inflows (from an account of a depositor or from the Bank's account)
• Inflows through KIBS or MIPS (inflows from other banks or institutions).

Internal inflows and inflows through MIPS are being received during the entire working day and are available as soon as they are received. Inflows through KIBS are received when the settlement is complete (after 03:00 PM).

DOCUMENTS AND FORMS

• General Terms and Conditions for establishment of business relation with Silk Road Bank Skopje
• Fee Schedule for VIP Non-Resident Clients