Standard Corporate
Customer Terms and
Conditions
Effective as of January 1, 2015
ING Commercial Banking
ING Bank N.V., Sofia Branch
ING is one of the largest providers of financial products in Europe.
ING offers Clients financial products in payment services, loans,
mortgages and investments. In addition ING acts as an
intermediary in insurances and pensions.
These Standard Corporate Customer Terms and Conditions are
effective as of 1 January 2015 and applicable to the Payments
Services offered by ING Bank N.V., Sofia Branch. Rates offered in
this brochure are subject to change.
All fees shown in this brochure are exempt from VAT unless
expressly stated otherwise. Exchange rates can be found via your
local ING Office.
ING Bank N.V. - Sofia Branch, registered address at 49B
Bulgaria Blvd, Sofia 1404, Bulgaria, registered in the
Commercial Register with the Entries Agency, EIK
831553811, operationally regulated in Bulgaria by the
Bulgarian National Bank , 1, Knyaz Alexander І Sq., Sofia
1000, Bulgaria.
Standard Corporate Customer Terms and Conditions January 2015
2
Overview
On June 16, 1994 Bulgarian National Bank granted ING Bank N.V. a full license for banking activities in Bulgaria. ING Bank N.V.
- Sofia Branch commenced operations in October 1994.
Following Bulgaria’s accession in the European Union on January 1st 2007, the Dutch National Bank started to perform
prudential supervision over ING Bank N.V. – Sofia Branch activities, while the Bulgarian National Bank continues to be
responsible for company’s day-to-day operations.
Activities
ING Bank N.V. – Sofia Branch (ING Bank Sofia) as a wholesale banking player provides services in the areas of Corporate
Banking, Trade and Commodity Finance, Investment financial instruments services under Art. 5, Para. 2 of the Law on the
Markets in Financial Instruments Law /MFIL/, including additional services under Art. 5, Para.3 of the MFIL and Payments and
Cash Management products
Target Clients for ING Bank Sofia are:
 Multinational and international companies
 Large, export oriented Bulgarian companies
 Major importers/exporters to/from Bulgaria
Transaction services offered by ING Bank Sofia are:
Payment and Cash Management Services
 Bank Accounts
 Interactive channels
 Local and Foreign single credit transfers
 Domestic Direct Debit
 Commercial cards
 Reporting
 Cash Deposit and Cash Withdrawal
 Foreign Exchange Products – Spot, Forward and Swaps (up to 1 year) in major currencies and BGN
 Money Market Products – Call Deposits (one day notice), Fixed Term Deposits (major currencies, BGN)
Trade Finance
 Export and Import finance
 Export L/C advising and confirmation
 Import L/C opening
 Guarantees
 Cards and cheques processing
Corporate Financing
 Short-term facilities in the form of overdraft or revolving credit facility
 Import or export financing
 Limits for issuance of Bank Guarantees or Letter of Credits
 Project financing
 Co-financing with other international finance institutions
 Investment financing
List of the Main Foreign Correspondents
Cur.
USD
EUR
CHF
GBP
CAD
JPY
SEK
DKK
Bank
JPMorgan Chase Bank, N. A.
New York
ING Bank N.V., Amsterdam
Credit Suisse, Zurich
HSBC Bank PLC, London
The Bank of Montreal, Montreal
Mizuho Corporate Bank Ltd,
Tokyo
Skandinaviska Enskilda Banken,
Stockholm
ING Bank N.V., Amsterdam
BIC Code
CHASUS33
Cur.
NOK
Bank
ING Bank N.V., Amsterdam
BIC Code
INGBNL2A
INGBNL2A
CRESCHZZ80A
MIDLGB22
BOFMCAM2
MHCBJPJT
AUD
CZK
HUF
PLN
RON
ING Bank N.V., Amsterdam
ING Bank N.V. – Prague Branch
ING Bank N.V. – Hungary Branch
ING Bank Slaski N.A.
ING Bank N.V. – Bucharest Branch
INGBNL2A
INGBCZPP
INGBHUHB
INGBPLPW
INGBROBU
ESSESESS
RUB
ING Bank (EURASIA) ZAO
INGBRUMM
INGBNL2A
Standard Corporate Customer Terms and Conditions January 2015
3
Tariffs
Accounts
Current account
Opening
Maintenance
International Account Service¹
Closing
(in local or foreign currency)
BGN
30.00 per account
BGN
30.00 per month, per
account
EUR
100.00 per month, per
account
BGN
30.00 per account
Including Monthly reporting, for
each account
Including Monthly reporting for
each account
¹ Valid for all accounts opened after 1st of January, 2015 via ING Bank international network in jurisdiction different from client’s domicile.
Channels
ING Online Local Site
Set-up
Subscription
BGN
BGN
90.00
30.00
Additional I-Dentity card
Additional I-Dentity card reader
User registration fee
BGN
BGN
BGN
20.00
90.00
10.00
Installation, training or repair
Confirmation of user rights
BGN
BGN
50.00
40.00
ING Online Regional Site
Subscription
BGN
20.00
per company
per month, per
company
per item
per item
per occurrence,
per user
per visit
per user
Plus VAT
Plus VAT
Plus VAT
Plus VAT
Plus VAT
per company,
per month
Account, Balance and Transaction reporting
Electronic reporting
Intraday
Intraday | To third bank
€
BGN
Intraday | From third bank
End of Day
€
€
End of Day | To third bank
BGN
End of Day | From third bank
€
0.00
Paper account statements
Paper statement | Monthly
BGN
0.00
Paper statement | Bi-weekly
BGN
10.00
Paper statement | Weekly
BGN
10.00
Paper statement | Daily
BGN
10.00
Paper statement | By regular post
BGN
10.00
0.00
50.00
per month
per month
0.00
0.00
per month
per month
50.00
Standard Corporate Customer Terms and Conditions January 2015
per month, per
account
per month
per month, per
account
per month, per
account
per month, per
account
per month, per
account
per month, per
account
As per provided instruction. Plus
VAT
Via ING Online. Included in account
maintenance
Via SWIFT. Plus VAT
Via e-mail or kept in bank post box
On transaction basis. Via e-mail or
kept in bank post box
On transaction basis. Via e-mail or
kept in bank post box
On transaction basis. Via e-mail or
kept in bank post box
Plus postal fee. Plus VAT
4
Credit transfers
Domestic credit transfer
Next day
Same day
Real Time
ING In-house
BGN
BGN
BGN
BGN
0.80
0.80
10.00
0.00
per transaction
per transaction
per transaction
per transaction
Paper-based
BGN
2.70
per transaction
Incoming
BGN
0.00
per transaction
SEPA credit transfer
Incoming
€
0.00
per transaction
%
%
%
BGN
%
€
0.10
0.10
0.15
20.00
0.25
30.00
per transaction
per transaction
per transaction
per transaction
per transaction
per transaction
BGN
€
10.00
0.00
per transaction
per transaction
International credit transfer
Two days | Outside EEA
One day | Inside EEA
One day | Outside EEA
One day | In LCY to third banks
Same day
Same day | Guaranteed principal (OUR
charges)
ING In-house
Incoming
Bisera
RINGS
Transfers between accounts with
ING Sofia
Additional fee. For One day, Same
day, Real Time and ING In-house.
Min. € 20.00, max. € 200.00
Min. € 20.00, max. € 200.00
Min. € 30.00, max. € 250.00
Min. € 50.00, max. € 350.00
Only applicable for credit transfers
instructed as OUR. Additional fee.
In LCY to other ING office
Note:
The fee for paper-based International credit transfers is calculated as the sum of the applicable fee mentioned above for the
respective value date plus fixed surplus fee, depending on the amount, as follows:
- Up to 15.000 currency units
€
20.00 per transaction
Additional fee
- From 15.001 – 50.000 currency units
€
35.00 per transaction
Additional fee
- From 50.001 – 100.000 currency units
€
75.00 per transaction
Additional fee
- From 100.001 – 200.000 currency units
€
100.00 per transaction
Additional fee
- Above 200.000 currency units
€
150.00 per transaction
Additional fee
Credit transfer R-messages
Revocation | Domestic
Revocation | International
BGN
BGN
5.00
20.00
per occurrence
per occurrence
Rejection | Domestic
Rejection | International
BGN
BGN
5.00
20.00
per occurrence
per occurrence
Manual repair | Domestic
Manual repair | International
BGN
BGN
5.00
20.00
per occurrence
per occurrence
€
€
BGN
0.00
0.00
0.80
per transaction
per transaction
per transaction
BGN
3.50
per transaction
Plus VAT
Plus additional fee of actual price.
Plus VAT
Plus VAT
Plus additional fee of actual price.
Plus VAT
Plus VAT
Plus additional fee of actual price.
Plus VAT
Direct Debits
Domestic Direct Debit (as creditor)
Transaction
Transaction | ING In-house
Processing request submitted via Electronic
Banking
Processing paper-based request
Standard Corporate Customer Terms and Conditions January 2015
5
Domestic Direct Debit (as debtor)
Transaction
BGN
0.80
per transaction
Payment based on received request
for DD via Bisera
Payment based on received request
for DD via RINGS
BGN
10.00
per transaction
Audit letter
Bank reference
Standing Order | Set-up
Standing Order |Credit transfer to third bank
BGN
BGN
BGN
BGN
120.00
40.00
0.00
-
Inquiry and investigations
BGN
5.00
per occurrence
BGN
20.00
per occurrence
Modification
BGN
BGN
BGN
40.00
5.00
20.00
per occurrence
per occurrence
per occurrence
Preparation of historical statements
BGN
10.00
Uncollected bank post box documents fee
BGN
20.00
per month, per
account
per occurrence
Proof of payment | Credit or debit
Termination of relationship with Client
BGN
BGN
10.00
50.00
per occurrence
per occurrence
Providing information about Clients in
compliance with Bulgarian legislation and
signature authentication to third bank
Additional charge for express issuance of Bank
reference or Audit letter
BGN
40.00
per item
E.g. Processing letters of
distrainment. Plus VAT
BGN
50.00
per item
Within one Business Day. Upon
Client request. Plus VAT
Other services
per item
per item
per transaction
Plus VAT
Plus VAT
Only via Electronic Banking
Fees according to the respective
transaction
Domestic credit transfers. Upon
Client request. Plus VAT
International credit transfers. Upon
Client request. Plus additional fee of
actual price. Plus VAT
By third bank. Plus VAT
Domestic credit transfers. Plus VAT
International credit transfers. Plus
additional fee of actual price. Plus
VAT
Upon Client request. Plus VAT
Applied by the end of the month if
statements or other documents for
the previous are not collected. Plus
VAT
E.g. SWIFT MT910, MT900. Plus VAT
Cash Management
International Cash Management
ING Bank provides International Cash Management to its clients, the fees and commissions are subject to agreement.
Cards
Corporate Card¹
Corporate card, corporate pay
Emergency provision
€
€
30.00
129.00
Corporate Card | Purchases
Via Corporate Card in EUR or BGN
Via Corporate Card in other currencies
€
€
0.00
0.00
per transaction
per transaction
Plus 1.95% foreign exchange fee²
€
€
4.50
4.50
per transaction
per transaction
Plus 1.95% foreign exchange fee²
%
3.00
per transaction
Min. € 4.50
Corporate Card | Cash advance3
From Automatic Teller Machine in EUR or BGN
From Automatic Teller Machine in other
currencies
Over the counter in EUR or BGN
Standard Corporate Customer Terms and Conditions January 2015
per year
per card
6
Over the counter in other currencies
%
3.00
per transaction
Min. € 4.50. Plus 1.95% foreign
exchange fee²
Additional services and fees
Late payment charge
Paper-based account statement
Copy of paper-based account statement
%
€
€
1.50
0.00
8.00
of the outstanding balance
per statement
per statement
Plus VAT
ING Purchase Control
The fees and commissions are subject to separate agreement. Information about ING Purchase Control can be found at
http://www.ingpurchasecontrol.com/.
ING Corporate Card Solution
The fees and commissions are subject to separate agreement. Information about ING Corporate Card Solution can be found at
http://www.ingcorporatecardsolution.com/.
¹ The corporate card product is offered by ING Bank N.V., registered office Amsterdam, Trade Register no. 33031431, Chamber of
Commerce Amsterdam, The Netherlands.
² The foreign exchange fee is incorporated in the amount of the transaction. The currency conversion rates are published at
https://www.mastercard.com/global/currencyconversion/.
3
The daily limit on cash withdrawals from Automatic Teller Machines is € 750.00.
Cash
Deposit coins
Local currency | Via counter
%
1.00
per transaction
Deposit notes
Local currency | Via counter
Local currency I Via counter
Foreign currency | Via Counter
%
%
%
0.30
1.00
1.00
per transaction
per transaction
per transaction
Withdrawal notes
Local currency | Via counter
Foreign currency | Via counter
%
%
0.30
1.00
per transaction
per transaction
Sorted
Unsorted
Sorted and unsorted
Notes and coins via CIT
ING Bank provides Cash collection services to its clients, the fees and commissions are subject to agreement.
Important Notes concerning Cash Transactions:
ING provides cash services - withdrawal and cash deposit for the following currencies only: Bulgarian Leva, US Dollars, Euro and British
Pounds.
Cash Deposits: Please list all denominations on the deposit slip provided. Please arrange all banknotes facing the same way.
Cash Withdrawals: Amounts above those listed hereafter or in other currencies are subject to one day notice before 14:00 h. Please call 02
917 6530, 02 917 6531 or 02 917 6532. Amounts: BGN 5.000 (five thousands), USD 5.000 (five thousands), EUR 5.000 (five thousands).
Documentary Payments
Export Letters of Credit
Handling charges advice
Confirmation commission
Handling charges transfer
Handling, forwarding and payment
Handling and forwarding
Acceptance/ deferred payment commission
%
€
%
%
%
%
0.15
0.30
0.25
0.10
0.25
Negotiation fee
Amendment fee
Tracer
€
€
€
30.00
30.00
Standard Corporate Customer Terms and Conditions January 2015
per quarter or
part thereof
Min. € 50.00, max. € 1000.00
Subject to agreement
Min. € 150.00
Min. € 100.00
Min. € 50.00
Min. € 100.00
Subject to agreement
Plus VAT
7
Cancellation prior to expiry
Assignment of proceeds
€
%
50.00
0.15
Import Letters of Credit
Pre-advice
Issuing with cash deposit*
€
%
30.00
0.30
Issuing without cash deposit
Increase / Extension for a new quarter
€
%
0.30
Payments / Utilisation
Acceptance/ deferred payment commission
%
%
0.20
0.25%
Amendment fee/Extension within one quarter
Discrepancy fee
€
€
30.00
50.00
Cancellation prior expiry
€
50.00
Import Collection
Against payment
Against acceptance
Released ‘Free of Payment’
Handling charges amendment
Handling chargers tracer
Avalising charges
Handling charges protest
%
%
€
€
€
€
€
0.20
0.20
50.00
30.00
50.00
100.00
Min. € 100.00
per quarter or
part thereof
per quarter or
part thereof
per quarter or
part thereof
Plus VAT
Min. € 150.00. Plus € 50.00 up-front
Subject to agreement
Min. € 150.00
Min. € 100.00
Min. € 100.00
per set of
documents
Min. € 50.00
Min. € 100.00
Plus VAT
Subject to agreement
Within the Sofia Regional Court
region
Handling charges protest
€
200.00
Outside the Sofia Regional Court
region
Note: All out of pocket expenses related to the protest procedure will be presented for payment additionally.
Export Collection
Payment commission
%
0.20
Min. € 100.00
Handling charges amendment
€
30.00
Handling charges tracers
€
50.00
Plus VAT
Aval
€
Subject to agreement
* For the establishment of facility limit for issuance of Letters of Credits the Bank applies a one-off application processing flat fee of EUR 250.00.
For additional complexity, urgency, control of back-to-back L/Cs, transfer of L/Cs, etc., the commission can be subject to negotiation.
Note: Communication charges, excluding those for special courier services, are INCLUDED in commissions for documentary credits and
collections. Commissions for Issuing or Increase / Extension are payable upon issuance as well as at the beginning of each quarter or part
thereof during the period of validity of the contingent engagement. Special courier services will be charged, based on actual cost plus BGN 12
with VAT included. Documentary Credits are subject to Uniform Customs and Practice for Documentary Credits of the ICC Paris (Revision
2007, Publication 600). Collections are subject to Uniform Rules for Collections of the ICC Paris (Revision 1995, Publication 522).
Bank Guarantees
Issued - General
Pre-advice
Issued - Credit facility
Opening: Handling fee of a new bank
guarantee request
Extension: Handling fee an extension request
Issued - Stand-alone (cash covered)
Opening: Handling fee of a new bank
guarantee request
Extension: Handling fee an extension request
Plus VAT
€
30.00
€
-
Subject to agreement
€
-
Subject to agreement
%
0.30
%
0.30
Standard Corporate Customer Terms and Conditions January 2015
per quarter or
part thereof
per quarter or
part thereof
Min. € 150.00. Plus € 50.00 up-front
Min. € 150.00. Plus € 50.00 up-front
8
Received - General
Advising
Miscellaneous
Authentication of bank guarantees issued
directly to the beneficiary
Payment
Handling and forwarding of demand for
payment and/or commercial documents
Amendment / extension within one quarter
Cancellation of demand for payment
Assignment of proceeds / beneficiary’s rights
%
0.15
Min. € 30.00, max. € 1000.00
%
0.10
Min. € 30.00, max. € 300.00
%
%
0.20
0.10
Min. € 75.00
Min. € 50.00, max. € 500.00
€
€
€
30.00
30.00
-
Subject to agreement
* For the establishment of facility limit for issuance of Bank Guarantees the Bank applies up-front a one-off application processing flat fee of
EUR 250.00. For additional complexity, urgency, control of counter guarantees, etc., the commission can be subject to negotiation.
Note: Communication charges, excluding those for special courier services, are INCLUDED in commissions for documentary credits.
Commissions for Issuing or Increase / Extension are payable upon issuance as well as at the beginning of each quarter or part thereof during
the period of validity of the contingent engagement. Special courier services will be charged, based on actual cost plus BGN 12 with VAT
included. Documentary Credits are subject to Uniform Customs and Practice for Documentary Credits of the ICC Paris (Revision 2007,
Publication 600).
Cross Currency Payments
Transfers which are ordered in a currency different from that of the account
When any transfer exceeds BGN 20,000 equivalent preferential rate can be agreed with the Bank and confirmed in writing to
the Bank. For amounts below BGN 20.000 (or equivalent in other currency) the respective rate from the daily exchange rates
bulletin will be applied. The bulletin is available at the Bank’s premises, on https://www.ingonline.com/bg/or upon client’s
request.
Foreign Exchange and Money Market Products
Foreign Exchange
Charge
Type of product
Exchange rates
Value date
Cut-off time for receipt of
confirmation
Money Market Products
Charge for opening of deposit
Type of product
Deposit interest rates
Maturities of deposits
free of charge
FX spot, FX forward, FX swap – only through ING Trade
As published in the daily Exchange Rates bulletin, available in the Bank’s premises and
https://www.ingonline.com/bg/. In case the amount of the transaction is bigger than BGN
20.000 (or equivalent in other currency) a preferential rate may be negotiated with the
Bank;
As requested by the client (may vary from “same” day till 1 year). For FX forward and swap
deals, limits should be pre-agreed with the Bank.
16:00 h
free of charge
Fixed period deposits (referred to as “term deposits”) and deposits with one day notice
(referred to as “call deposits”)
As published regularly in the Interest Rates bulletin, available in the Bank’s premises and
according to the below Terms and Conditions
As requested by the client (may vary from 1 day till 1 year)
Fixed Period Deposits Terms and Conditions
 All interest rates are annual (per annum) and fixed for the term of the deposit. The method used for calculation of the
accrued interest is simple interest formula. The interest basis for calculation of accrued interest is actual number of days /
360.
 The payment of accrued interest of a term deposit is done on the maturity date of the deposit. Term deposits are not
revolving i.e. cannot be renewed (rolled-over) automatically by the Bank. It is the obligation of every client to monitor its
deposits maturities, and as an option at the maturity of a deposit a Client can negotiate new term deposit with the Bank at
the going interest rates.
Standard Corporate Customer Terms and Conditions January 2015
9
 Minimum amount for a term deposit is 100.000 currency units. Exceptions from this requirement can be made for clients,
who have other deposits above the minimum required amount or average daily balances on current accounts from the
previous month above the minimum required amount.
 Early termination of a term deposit (before maturity date) at a Client request is possible. In that case, the Client sends to
the Bank a written notification one day prior to the desired date of termination. In this case, ½ of the agreed interest is paid
out to the client, calculated for the actual number of days from start date till the date of early termination of the deposit.
 The interest rates published by the Bank in its Interest Rates Bulletin may change within a single business day in case of
excessive volatility on the interbank money market.
 By the decision of the Bank and in accordance with conditions on the interbank market, it is possible for any Client to
negotiate a better interest rate for a deposit, within the range of up to 100 basis points (1%) from the officially published
rates in this bulletin.
Deposits with one day notice Terms and Conditions
 All interest rates are annual (per annum). The method used for calculation of the accrued interest is simple interest formula.
The interest basis for calculation of accrued interest is actual number of days / 360.
 Call deposits are deposits, the conditions on which can be changed at any time upon Client’s request, made with a written
notification to the Bank one day in advance and agreed by the Bank; or by the Bank with one day written notification
addressed to the Client. This includes: changes in initially agreed interest rate (within +-3% from the initially agreed rate);
changes in the amount (principal) deposited (increase or decrease); paying out to the Client of the accrued interest at
Client’s will; as well as termination of the respective deposit by the Client or by the Bank. The Bank reserves its right, to
change conditions on any existing call deposit, in case of changes in market conditions. This is done with one-day-inadvance written notification, sent out to the Client.
 The payment of the accrued interest is done on the termination date of the call deposit. Exceptions can be made in the
following cases:
the Bank performs payment of the accrued interest, at Client’s request, confirmed with one-day-in-advance written

notification sent out by the Client to the Bank, and
on the first business day of every calendar year, the Bank automatically pays out accrued interest on every client’s

call deposit, existing at that moment,
 Minimum amount for a call deposit is 100.000 currency units. Exceptions from this requirement can be made for clients,
who have other deposits above the minimum required amount, or average daily balances on current accounts from the
previous month above the minimum required amount.
 If the principal amount on any existing Client’s call deposit drops below the minimum required (100 000 currency units),
the Bank has the right to unilaterally terminate the call deposit with one day written notification, sent out to the Client. In this
case, the Bank calculates and pays out the interest accrued until the termination date.
 The interest rates published by the Bank in its Interest Rates Bulletin may change within a single business day in case of
excessive volatility on the interbank money market.
 By the decision of the Bank and in accordance with conditions on the interbank market, it is possible for any Client to
negotiate a better interest rate for a deposit, within the range of up to 100 basis points (1%) from the officially published
rates in this bulletin.
Corporate Finance
ING Bank N.V. – Sofia branch offers credit facilities in Bulgarian leva and foreign currency to corporate clients operating in
leading industries – utilities power, telecommunications, transport, food and beverage, trade, as well as other industrial
sectors of the economy.
Type of Corporate Financing

Short-term facilities in the form of overdraft or revolving credit facility

Import or export financing

Limits for issuance of Bank Guarantees or Letter of Credits

Project financing

Co-financing with other international finance institutions

Investment financing
The Bank does not offer lending products to corporate clients with standard terms and conditions. Lending terms and
conditions – purpose, amount, term, collateral, interest rate and other are subject to concrete negotiation.
Standard Corporate Customer Terms and Conditions January 2015
10
Cut-Off Times (COT) and Settlement Dating
Credit transfers
Domestic credit transfer
Next day
Same day
Real Time
ING In-house
Incoming
International credit transfer
Two days
Next day
Same day
Incoming
Account, Balance and
Transaction reporting
Electronic reporting
Intraday
Intraday | To third bank
Intraday | From third bank
End of Day
End of Day | To third bank
End of Day | From third bank
COT
(CET+1)
Book date
Settlement
BGN
BGN,
BGN
BGN and all serviced
foreign currencies
BGN
16:00
14:00
15:00
16:00
D
D
D
D
D+1
D
D
D
16:00
D
-
All serviced foreign
currencies
All serviced foreign
currencies
EUR, USD, GBP
All serviced foreign
currencies
16:00
D
D+2
16:00
D
D+1
16:00
16:00
D
D
D
-
Currency
Frequency
Time available
(Local time =CET+1)
On transaction basis
On transaction basis
On transaction basis
Once per day
Once per day
Once per day
08:00 till 16:00
07:30 to 15:00
07:30 to 15:00
08:30, D+1
07:30, D+1
06:30, according to third bank
Conditions
Business Days
Information regarding Business Days and the execution of Payment Services can be found on: http://www.government.bg A
Business Day is each Business day, except the official holidays in Bulgaria as listed in the Labour Code, weekly non-working
days (Saturday and Sunday) and/or other official holidays and non-working days as announced by the Council of Ministers.
Information regarding TARGET closing days can be found on: http://www.ecb.int/home/html/holidays.en.html
Debit and Credit interest rates
If, for any reason, any of the clients’ Accounts kept with ING shows a negative (debit) balance or, in the event of an overdraft
arrangement between ING and the client, the debit balance of the relevant Account exceeds the permitted limit approved for
the client, default interest shall be accrued on the amount of such debit balance or of such excess, as the case may be. Default
interest is calculated as sum of the daily SOFIBOR or LIBOR or EURIBOR (respectively for BGN, USD or EUR) + 5.00% per
annum, but not less than 30 EUR per occurrence. Interest paid on credit balances on Current Accounts are at ING’s discretion
and are available upon request.
Standard Corporate Customer Terms and Conditions
The present Standard Corporate Customer Terms and Conditions are an integral part of the Bank’s General Business
Conditions and ING Conditions for Payment Services as in force from time to time. The present Standard Corporate Customer
Terms and Conditions apply to normal transactions. An additional charge may be negotiated for special services.
Collection of commissions and taxes
All commissions and taxes are applied on cumulative basis. All recurring fees (i.e. not per transaction or one-off) will be
collected by the Bank within one month after the occurrence of the obligation for their payment.
Calculation of commissions and taxes
The fixed values of commissions and taxes, expressed in one currency, if payable in other currencies, shall be calculated at
the official exchange rate announced by the BNB for the date of the transaction.
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Party to pay commissions
All commissions, postal and other out-of-pocket expenses are due by the party, which initiates the transaction, unless
otherwise expressly stipulated.
Compensated value date
In case the Client requests a Payment Order with same day value (SDVA code word), ING will make sure that the debit value
date will correspond with the date on which the PSP of the Beneficiary is credited. Compensated value date is chargeable
according to these Tariffs and Conditions.
Refusal Domestic Direct Debit
The client may revoke the payment order for a Direct Debit at the latest by the end of the Business day preceding the day
agreed with the beneficiary for debiting the funds
Modification of credit transfer
The client is able to modify a credit transfer, provided that such request has been received by the Bank in original latest one
Business Day prior to the execution date. Modification is chargeable according to these Standard Corporate Customer Terms
and Conditions.
Revocation of credit transfer
The client is able to revoke a credit transfer, provided that such revocation has been received by the Bank in original latest
one Business Day prior to the execution date. Revocation is chargeable according to these Standard Corporate Customer
Terms and Conditions ,
Direct debit blocks
The client completes the Agreement for Direct Debit in three originals. All 3 copies should be brought to ING first. One
remains for ING, the second copy is for the client and the third copy should be delivered to requesting bank.
In case the client wants to terminate the Agreement for Direct Debit, or to make any amendment (such as to increase the
maximum debited amount threshold or to change the debited account) this should be done by ING and the receiving bank
must be informed afterwards about the changes.
If the client does not state the exact expiration date of the Agreement for Direct Debit, then the Agreement is considered to be
valid until the end of the calendar year. When the Agreement expires, the client may renew it by completing a new one and
proceeding as described in the beginning.
Specific forms
The applicable forms accepted by the Bank are available in the Bank premises / Client Service area and on the website of the
Bank.
Paper delivery
The execution time of outgoing Payment Orders can be extended by ING by one Business Day if Payment Orders are initiated
by the Account Holder in paper form. It is not possible to submit the following Payment Orders in paper for Batch Payments
and Standing Orders.
Types of credit transfers
To determine the type of credit transfers (except Dutch urgent payments), please use the flow chart shown below.¹
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SEPA Countries: Austria (EUR), Belgium (EUR), Bulgaria (BGN), Croatia (HRK), Cyprus (EUR), Czech Republic (CZK),
Denmark (DKK), Estonia (EUR), Finland (EUR), France (EUR), Germany (EUR), Greece (EUR), Hungary (HUF), Ireland (EUR),
Italy (EUR), Latvia (EUR), Lithuania (LTL), Luxembourg (EUR), Malta (EUR), The Netherlands (EUR), Poland (PLN), Portugal
(EUR), Romania (RON), Slovakia (EUR), Slovenia (EUR), Spain (EUR), Sweden (SEK) and the United Kingdom (GBP), as well as
the three EEA States Iceland (ISK), Liechtenstein (CHF) and Norway (NOK) plus Monaco (EUR) and Switzerland (CHF).
Privacy Statement
This privacy statement contains information on how ING Bank N.V. - Sofia Branch (‘ING’) treats and takes care of personal
data. ING processes personal data of natural persons who are (potential) clients, business partners or suppliers, or acting in
their capacity of employee, (managing) director or representative of them, or who are visitors of ING’s websites. Also, in the
framework of ING’s financial transaction processing and handling ING processes personal data of natural persons with whom
ING has no relationship.
Clients, business partners, and suppliers may use this privacy statement to inform natural persons of passing on their personal
data to ING and ING’s processing thereof.
1.
Purposes of data processing
ING processes personal data for the following purposes:
assessing and accepting of, entering into and executing of agreements with clients, business partners or suppliers,

as well as executing payment and other financial transactions, recording and financially settling services, products
and materials delivered to and from ING, including communication with natural persons involved in contracts (e.g.
insured persons, beneficiaries, intermediaries), and dispute resolution and litigation;
performing relationship management and (targeted) marketing to establish a relationship with and/or maintain as

well as extend a relationship with a client;
analysing personal data for statistical and scientific purposes, including analyses for the development and

improvement of ING’s products and/or services, account management and client service;
business process execution, (internal) management reporting and analysis including activities such as managing

company assets, conducting internal audits and investigations, finance and accounting, implementing business
controls, provision of central processing facilities for efficiency purposes, managing mergers, acquisitions and
divestitures;
safety, health and security including the protection of ING and client, supplier or business partner assets and the

authentication of client, supplier or business partner status and access rights;
compliance with laws and regulations as well as sector-specific guidelines and regulations including anti-money

laundering and anti-terrorist financing regulations;
safeguarding the security and integrity of ING and/or the financial sector. This includes (1) the detection,

prevention, investigation and combating of (attempts at) unlawful or undesirable activities or conduct targeted
towards ING, group companies of ING Bank N.V., clients and staff, or other financial institutions, and (2) the use of
and participation in warning systems (such as internal or external fraud registers).
Personal data sharing with group companies of ING Bank N.V.
For the purposes listed above, ING may pass on personal data to other group companies of ING Bank N.V.
2.
Personal data sharing with third parties
For the purposes listed above, ING may pass on personal data to third parties not being group companies of ING Bank
N.V. such as business partners, other financial institutions, suppliers or other service providers, intermediaries,
beneficiaries of transactions, courts, regulatory authorities, warning systems or other third parties involved in any of
ING’s personal data processing activities listed above.
3.
Transfer of personal data to countries outside the European Economic Area (EEA)
ING Bank N.V. and its groups companies are active worldwide. This means that ING may pass on personal data to
parties in countries outside the EEA. ING will only pass on personal data to such parties for the purposes listed above
and with the permission of the Bulgarian Personal Data Protection Commission.
4.
Recording telephone calls and electronic communication
ING may monitor, record, store and use any telephone call, email or other forms of electronic communication for the
following purposes:
ING may provide records of telephone calls and electronic communications to authorities to comply with laws and
regulations and to the ING unit in charge of security matters and/or ING employees responsible for monitoring
compliance with corporate rules and regulations.
compliance with laws and regulations;

being able to provide proof;

to prevent, detect and investigate fraud or crime;

assessing the quality of ING’s services; and

training, coaching and assessment of ING employees.

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5.
Right of access/correction and right to object
Natural persons may
request an overview or correction of their personal data processed by ING;

object to processing of their personal data by ING for direct marketing purposes;

by sending a letter to:
ING Bank N.V. – Sofia Branch
49B, Bulgaria Blvd, entr. A, floor 7, Sofia 1404
Bulgaria
Written requests should be accompanied by a photocopy of a valid identity card.
6.
Modification of privacy statement
ING has the right to modify the content of this privacy statement at any time.
Complaint procedure
1.
If the Client has any cause for complaint in relation to any aspect of the business relationship with the Bank hereunder,
the complaint should initially be raised with the Bank. To the extent such a complaint has not been resolved to the
satisfaction of the Client, the Client should address the complaint directly to the relevant competent authority according
to the subject of the dispute, including the Bulgarian National Bank at the following address: 1, Knyaz Alexander І Sq.,
Sofia 1000, Bulgaria, and tel. (+3592) 91459; Personal Data Protection Commission at the following address: 2, Prof.
Tsvetan Lazarov Blvd, Sofia - 1592, Bulgaria, and telephone (3592) 91-53-518.
2.
All disputes arising from the business relationship between the Bank and the Client shall be resolved by the competent
court in Sofia, Bulgaria in accordance with its rules.
Customer Support Desk
Business Hours
Business Days
Contact details
SWIFT BIC
Customer Service Desk
Telephone Number /
Switchboard
Fax
E-mail Address
Website
09:00 – 16:00
Monday to Friday
ING Bank N.V. - Sofia Branch
49B Bulgaria Blvd, floor 7
1404, Sofia
Bulgaria
INGBBGSF
+359 2 917 64 00, +359 2 917 67 00
+359 2 917 65 78
ing.infobg@ingbank.com
www.ingcb.bg
In case of loss, theft or unauthorized use of a Payment Instrument
The loss, theft, misappropriation or unauthorized use of a Payment Instrument, personalized security feature of a Payment
Instrument or any means of access to an ING Channel and a technical incident or any other fault which might jeopardize the
security of any of the foregoing should be reported to ING via telephone using the following contact details:
Telephone Number ING
+359 2 917 6464 or +311 0 428 9581
Corporate Card Support
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Want to know more about ING?
Visit www.ingcb.com
or contact your local ING Office
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