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Transferências Nacionais Eletrónicas

Electronic Domestic Transfers

A secure, fast and comfortable way to
make payments.

Advantages

Electronic Domestic Transfers are bank operations based on instructions to transfer funds between accounts, allowing Companies to make electronic domestic payments.

  • Are a secure, fast and comfortable way to make payments;
  • Have greater reliability when making payments if compared with traditional means such as cash or cheques;
  • Are quick and simple to execute;
  • Have less costs and less administrative workload associated to executing and controlling payments;
  • Allow you to make Bulk Payments.

02.002.5661 - 2012/04/23

Costs

Consult the Pricing in force, available for consultation at any Millennium bcp Branch near you.

Features

Electronic Domestic Transfers are bank operations consisting of orders to transfer funds between accounts, given by a transferor - individual or company -, that asks a credit institution to debit his/her/its account and credit another account, that of the beneficiary, which can be domiciled at the same institution or not.

Transfers can be classified as follows:

Intervening Credit Institutions

  • Intrabank: Internal transfers between Millennium bcp accounts.
  • Interbank: Interbank electronic transfers (TEI) between accounts with different Credit institutions, transferor account with Millennium bcp and beneficiary account with another domestic credit institution (OIC).

Frequency

  • One-off;
  • Permanent.

For a secure, fast and automatic transfer with minimal intervention, it is fundamental that you provide some data:

Required information
  • Transferor account number (account to be debited);
  • Amount to transfer;
  • NIB - Bank identification number (21 digits) of the Beneficiary (account to be credited);
  • Processing date, otherwise when none is provided it will be processed on the same day.

Notes: NIB or Bank Identification Number - standardised information element used to identify bank accounts domiciled in Portugal. It is composed of 21 digits, the first 4 being the code of the bank at which the account is domiciled, followed by 4 digits that represent the branch code (which may be zeroes if the bank does not use this reference), 11 digits corresponding to the account number and 2 control digits.

Urgent Transfers

Transfers processed so as to ensure that the amount is credited into the beneficiary's account in another Credit Institution with value-date of the same day as the transfer.
These transfers have time limits to be executed (cut-off time), therefore the orders must be given and authorised until 14:30 GTM of that business day. After that time the transfers will have to be ordered and authorised again.

This concept does not apply to internal transfers - between Millennium bcp accounts -, since according to the Regulations in effect - Decree-law 18/2007 and Notice 3/2007 of Banco de Portugal, the funds must be credited into the beneficiary's account on the same day.
Transfers of € 100,000 or more

According to Banco de Portugal's recommendation transfers of € 100,000 or more to other Credit Institutions are mandatorily made through the TARGET system. The funds are made available to the beneficiary on the day the transferor is debited.

Bulk Payments

Bulk Payments enable Clients to make a number of transfers to credit accounts with Millennium bcp or with other Banks in a single operation.

Bank slips

Concerning Corporate Clients, the transfers generate, by default, a bank slip and, consequently, the charging of postage charges for its remittance to the transferor company. If the transferor company does not wish to receive bank slips, it must expressly mention that wish to the Bank or, as an alternative, subscribe to the e-Bank Slips, through the Corporate website (free of charge) at Other Services > Documents > e-Statements and Bank Slips (.pdf) > Subscribe.

How it works

You can make domestic transfers at the corporate website of millenniumbcp.pt using one of the following options:

Other Issues

For more information, contact your Client Manager or go to a Millennium bcp Branch.

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