Under a bank account agreement, corporate clients are provided with the following key services:
- opening and maintaining bank accounts;
- external cash transfers (via NSD's network of correspondent accounts);
- internal cash transfers in the NSD Payment System (including via LORO accounts);
- settlement of on-exchange trades (internal payments);
- recurring cash transfers;
- foreign exchange transactions; and
- foreign exchange control agent services under contracts being serviced by NSD. Execution of a 'transaction passport' (forex transaction report form) on the date of the filing of an application, without charging an urgency fee.
Additional services:
PVP (payment versus payment) settlements
Key benefits offered by NSD's bank account services:
- The NSD Payment System has the status of a nationally and systemically important payment system.
- No financial (credit or liquidity) risks, the most significant risks for credit institutions.
- Late cut-off time:
- 20:00 (for RUB);
- 20:30 (for USD). For other currencies, the applicable cut-off time depends on the terms and conditions offered by correspondent banks (e.g., for EUR, the cut-off time is 16:30).
- Prompt settlements via the Bank of Russia's Payment System:
- using the express cash transfer service — cash transfers are made online;
- using the non-express cash transfer service — cash funds are debited and credited within 30 minutes.
- Execution of transactions online via LORO accounts and for services offered by companies of the Moscow Exchange Group.