Purchase of foreign currency

 

Purchase of foreign currency is a basic operation within a foreign trade business of the companies.

Operation of foreign currency purchase is executed on the basis of a Client application and a package of documents confirming the relevancy of the operation. The following order of the operation execution is regulated by the current legislation of Ukraine:

Day 1:

  • The customer provides the Bank with the Application for the purchase of foreign currency;
  • The Bank transfers the funds from the Client’s current account to the analytical account 2900 in order to reserve the national currency for further purchase of foreign currency in accordance with the Client Application. 

Day 2:

  • The Bank buys foreign currency on the interbank foreign exchange market according to the applications;
  • The Bank provides registers of operations to the NBU in the cases defined by the legislation.

Information message

Please note that for your comfort and confidence in the correctness of the provided documents for the currency purchase, the Bank offers a service of preliminary check of the documents.

To get the preliminary check you should provide the Bank with information message with data regarding the total amount of existing commitments within the documents that are the base of supposed purchase of foreign currency.

Information message provides an opportunity to:

  • Immediately know the result of verification of a package of documents by the Bank;
  • Plan the convenient schedule of payments to the counterparty by purchase the total sum or the part amounts of foreign currency on the basis of the documents submitted once.

How does the Information message work?

For example, your company has an obligation under a foreign trade contract. According the contract the goods should be shipped by the non-resident counterparty after the prior payment of 100%, based on the specifications. Non-resident counterparty provided 3 specifications for amount of 15 000 USD.

You provide the specifications with a contract and Information message to the Bank till 15:00. The Bank checks the documents and informs you about the results on the same day (if the documents were provided after 15:00 - the Bank provides the results on the next day). In case of a positive result of the Bank's inspection of the documents, your company can carry out the purchase of total sum of foreign currency (15 000 USD) or split the amount for parts and initiate the purchase according to your schedule.


The list of documents that are the basis for the purchase of foreign currency

  • Foreign contract with all annexes and additions;
  • Cargo customs declaration;
  • Invoices, specifications etc.
  • The act of work performed / services rendered;
  • Other documents required by the legislation.

Other foreign currency transactions:

For companies with total annual turnover up to UAH 400 Mio that have foreign economic activity the International tariff package is specially designed.

Currency operations



We guarantee that the representative of Corporate business OTP Bank will contact with you within 1 working day.
 
More detailed information can be obtained by calling the Information Center
  • phone: (044) 490-05-25, (044) 490-05-00 (24/7)