IBAN (International Bank Account Number) is a unique identifier of a foreign currency account that your bank assigns when opening a foreign currency account, and is used for international payment transactions of sending and receiving money.
In order to receive money, you need to give the sender the following information:
- Name, surname and residential address
- Name of your bank
- SWIFT (Society for Worldwide Interbank Financial Telecommunication), an international banking code to identify your bank
- Your IBAN account number for international payment transactions
The sender of the money should state the basis on which he sends you money, for example: pension, inheritance or gift to a relative) “, or if it is a company: by invoice xxxxx. If the sender’s bank corresponds to your bank, you can receive the money in 1 day, and if more correspondent banks are involved in the transfer, more days.
The costs of money transfer can be paid by the sender (indication OUR) or the sender shares the same with the recipient (indication SHA). If the transfer is made through correspondent banks, for sending SHA for example 200 EUR, the cost charged by our banks is 200-400 RSD. If the transfer is made through several correspondent banks, the costs can be significantly higher.