INTERNATIONAL PAYMENTS

INTERNATIONAL PAYMENTS

CCB performs the international payments to its customers quickly and efficiently through a well-maintained global network of first-class correspondent banks and based on its participation in the major pan-European payment systems. CCB maintains nostro accounts with 13 carefully selected correspondent banks in 15 of the major currencies and is able to perform transfers in more than 100 types of rare and exotic currencies based on special arrangements for multi-currency accounts with some of its correspondents.

• Since 2008 CCB has been an indirect participant in SEPA payment system STEP2 for SEPA credit transfers in the Single Euro Payment Area (SEPA). In 2020 the bank became a direct member in this largest European payment system, thus becoming the second bank in Bulgaria with a direct participation in the system. STEP2 allows access to the execution and receiving of SEPA credit transfers in euro to and from all Payment Service Provides (PSPs) licensed within the territory of the European Union.
• Since 2010 CCB has been a direct participant in TARGET Trans-European Automated Real-time Gross Settlement Express Transfer System in euro currency. This payment system specializes in high-value funds transfers – including customer credit transfers, inter-bank financial transfers on the Foreign Exchange markets (FX) and Money markets (MM), as well as transactions with regard to the execution of the monetary policy of the Central bank.
• In 2019 CCB joined the global initiative of SWIFT "Global Payments Innovation" (GPI), which set new standards for the execution speed and transparency in the field of customer credit transfers. At the time of joining CCB was the second bank in Bulgaria, which started to apply the GPI standards.
• In December 2024 CCB became the first Bulgarian bank - a direct participant in the TIPS system for instant SEPA payments in euro currency. CCB’s participation in TIPS allows the bank’s customers to send and receive SEPA Instant Credit transfers in euro to and from clients holding accounts with any PSP in the Eurozone and to a large number of accounts with credit institutions in the EU, outside of the Eurozone within only 10 seconds, 24 hours, 365 days, including Saturdays, Sundays and holidays.

As a principal agent of Western Union - a global leader in payment services, since 2003 CCB has been providing Western Union fast money transfers in more than 250 of its branches and offices and through its Internet Banking Platform.

CCB offers high-quality banking services and expertise in the trade finance of export, import and re-export transactions and operations related to international documentary letters of credit, documentary collections and bank guarantees.

An up-to-date list of the correspondent banks, with which CCB maintains Nostro checking accounts is available at the following link.