"FlashPayment" for faster foreign payments

  • Bank Austria Creditanstalt offers a new payment product
  • Especially designed for corporate clients
  • Cross-border payments effective within one banking day only
  • As quick and easy as domestic bank transfers

On the occasion of EU enlargement on 1 May 2004, Bank Austria Creditanstalt (BA-CA) offers a new payment product: “FlashPayment” is especially designed for corporate clients and speeds up foreign payments within the new EU countries. Transactions via FlashPayment can be effected like domestic bank transfers between Austria and 11 Central and Eastern Europan countries (see table). Important prerequisite for using FlashPayment: both the sender and the recipient hold an account with Bank Austria Creditanstalt or one of its subsidiaries in Central and Eastern Europe (CEE).

“More and more companies expand into foreign markets. Their success depends on whether they can rely on the appropriate banking and financing partner. With its high-quality products and services such as FlashPayment, Bank Austria Creditanstalt is in a position to perfectly support these companies,” says Regina Prehofer, member of the Managing Board of BA-CA and responsible for International Corporate Business and CEE.

FlashPayment works as follows: The payment order is placed as usual, i.e. via BusinessNet, BusinessLine, OnlineB@anking or via the standard form for foreign banking transfers. If both the sender and the recipient of the payment hold an account with BA-CA or one of its subsidiaries, the transaction is automatically executed on the advantageous terms of FlashPayment. Payments in euros can only be made to a euro account, payments in a local currency can only be made to an account denominated in the respective local currency.

“FlashPayment speeds up payment transactions. From ordering the payment to crediting the amount to the recipient’s account it takes only one banking day. This deadline is guaranteed,” Regina Prehofer explains. Corporate clients can therefore better plan their payments.

FlashPayment is the latest product in a series of network products which Bank Austria Creditanstalt offers its clients. “Our clients benefit from the identical look-and-feel and the high quality of these products in each country,” Regina Prehofer concludes.

For further information on other BA-CA network products such as “MultiCash/EuropaKonto”  and “Margin Pooling” please refer to www.ba-ca.com / Corporate Customers.

Where to use FlashPayment:

 Country Name of the bank
 Austria Bank Austria Creditanstalt AG, Vienna
 Germany Bayerische Hypo- und Vereinsbank AG, Munich
Vereins- und Westbank AG, Hamburg
 Bosnia and Hercegovina HVB Bank Bosnia i Hercegovina d.d., Sarajevo
 Bulgaria CB Biochim AD, Sofia
 Czech Republic HVB Bank Czech Republic a.s., Prague
 Croatia HVB Splitska banka d.d., Split
 Hungary HVB Bank Hungary Rt., Budapest
 Poland Bank BPH SA, Kraków
 Romania HVB Bank Romania SA, Bucharest
 Serbia HVB Bank Yugoslavia a.d., Belgrade
 Slowakia HVB Bank Slovakia a.s., Bratislava
 Slowenia Bank Austria Creditanstalt Ljubljana d.d., Ljubljana

Enquiries: Bank Austria Creditanstalt
International Media Relations 
Edith Holzer, phone +43(0)50505 ext. 57126;   
e-mail: edith.holzer@ba-ca.com