TARGET2 is the real-time gross settlement (RTGS) system owned and operated by the Eurosystem. TARGET stands for Trans-European Automated Real-time Gross settlement Express Transfer system.
EMBank is the participant of TARGET2 that enables you to make instant Euro transactions regardless of the amount. If you and your business are in the fast lane you will love TARGET2.
WHAT IS TARGET2
WHAT IS THE BENEFIT OF USING TARGET2?
IS THERE AN UPPER OR LOWER LIMIT?
WHO CAN USE TARGET2?
HOW TO SEND MONEY FROM YOUR ACCOUNT WITH YOUR RM VIA TARGET2?
Provide your RM with the following data:
- The beneficiary's bank name and SWIFT-code*.
*Please note! If the beneficiary’s bank is not a member of the TARGET2 System, his correspondent bank must be a member thereof, and in such a case, it is necessary to give its SWIFT-code. Then, payment will come to the correspondent bank through TARGET2 and subsequently through the communication line established between these banks.
- Number of your beneficiary’s account or international bank account number (IBAN).
- Full name (in case of transfer to an individual) or the beneficiary’s name (in case of transfer to a legal entity).
- Address (residence) of your beneficiary.
- Your payment details: destination, date, and number of documents, under which a payment is made**
**Please note! Subject to the payment details the bank can demand copies of documents, upon which your transfer is made: contract, invoices, specification of goods, etc.
HOW TO SEND MONEY WITH EMBANK ONLINE BANKING VIA TARGET2?
Submit transfer via Internet Banking under menu Payments > Payments and Transfers > Adhoc Payment > Target2 Payment
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