RLB provides financial institutions with the opportunity to transact their euro payments business on a global scale, in the swiftest and most efficient way possible by maintaining one euro cash clearing account.

The connection to Europe

RLB has established a direct connection to the euro clearing systems Target and EBA. Furthermore, as member of TARGET2 (EUR Real Time Gross Settlement system), RLB has easy access to any connected beneficiary bank in Italy. A euro cash clearing account with RLB opens the doors to the European markets.

Multiple communication services
The Euro Clearing Service is fully integrated into the technical environment we use for our existing clearing services. Needless to say, our renowned communication, reporting, and cash management services are available for euro payments as well. Additionally, all services are supported by a highly sophisticated technical infrastructure which we are continuously updating, by integrating new market standards, state-of-the-art technology and improved operating procedures. Payment instructions sent via SWIFT are directly routed to our payment system for automatic verification, completion and execution.

Efficient fund transfer service
The RLB payment services offers you a secure, efficient and prompt service. By automatically verifying and correcting all incoming payment orders, we improve the quality of the data, thereby increasing the speed and reliability of the subsequent processing. The following sections illustrate the basic service features.

Cut-off time
Due to harmonisation with European standards, we now offer extended cut-off times (guaranteed same-day value). These are indicated above for the various types of payments. Cancellation and amendment instructions are executed on a best-effort basis.

Cash reporting
Our array of existing cash reporting products based on SWIFT industry standards are an integral part of the Euro Clearing Service.

MT950/MT940 statements are submitted starting 22:00 (CET) on the value date

Cut off
For commercial payments:    15:00
For bank to bank payments:  17:30

Cash Letter
Our Cash Letter Service with competitive value dating is available for cheques denominated in euro which are drawn on banks located in Italy.

Pricing
Our pricing reflects the simple and transparent product structure mentioned overleaf. Specifically, the choice of the euro clearing channel does not influence the charges applied. As with all our clearing services, the individual charges depend on means of communication, the message type, the formatting quality of the incoming payment instructions and the volume. All prices of our Euro Clearing Service are quoted in EUR and are flat. Our charges will be debited automatically on a monthly basis. A statement of service prices is issued immediately, showing all necessary details to reconcile the charges applied. Our volume and quality-based pricing scheme rewards the value we place on our relationship and your efforts to optimize the straight-through processing rate.

Personal customer support
Whenever you need assistance, RLB is ready to help. Our german customer service team ensures prompt response and personalized service. Our operating centre is open on all TARGET business days. Operating hours are from 7:00 to 18:00 (CET) to accommodate the euro market clearing cycle. The inquiry/investigation response time of all our customer service units is 48 hours at the maximum. Resolution time is generally within the same day of occurrence, although this depends on third parties involved. If investigations are unable to be resolved within the day of occurrence an intermediate reply will be provided. Investigation requests are acknowledged by free-format-tested SWIFT.

Your advantages

• Full access to euro clearing systems and protection from the complexity inherent in the variety of euro clearing channels<//span><//span>
• Superior service level arising from specialist expertise
• Competitive service pricing
• A specialized sales team for euro-related issues to respond to any questions regarding our services
• A specialized operations and customer service team for the handling of your euro payments
• One global solution for your euro payments
• A portal for your EUR payments into Italy – a capability few other banks can offer

Contacts
If you have any questions relating Euro Clearing Service, please contact us on the adress above or send us an e-mail.

Product
We recommend to instruct payment orders denominated in legacy currencies in euro with ERI (Euro Related Information). We also fully support the routing indicator (//RT) defined by SWIFT, the use of which does not affect your straight-through ratio.