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  21 February 2018
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Chisinau MD-2001
33 Ismail street
Phone: 0 800 500 20, For international calls: (+373 22) 500-200
Fax: (+373 22) 54-88-27
Support Card 24/24 (+373 22) 500-220
E-mail: info@ecb.md, antifrauda@ecb.md
Telex:163278 ECBMD MD
F/C: 1002600020056
VAT: 0204705

Currency transactions

Currency transactions - represent exchange of money from one currency to another taking into account the rate, established at a certain date for the transaction settlement.
Exchange rate  is the parity rate between two currencies expressed in the unit of one currency (called "variable currency") with respect to the unit of another one (called "basic currency").

"EuroCreditBank" offers a wide range of foreign currency operations for legal entities, and namely:
- Opening of foreign currency accounts;
- Purchase and sale of foreign currency without cash transfer at the most favorable exchange rates;
- Transfer of bankroll - Import /Export operations.
- Import/Export Letters of Credit, Bank Guarantees.

"EuroCreditBank" is the first bank inMoldovathat has been started to implement the new technology - SWIFT Net, a system that substantially increased the rate at which the currency transfers are sent or received.

The net of bank's correspondents is expanding fast, and allows transferring money resources worldwide at the shortest notice.
Nowdays "EuroCreditBank" active collaborates with an important group of Italian banks - UniCredito Italiano S.p.A. that will allow transferring money resources of economic agents fromMoldovaandItalyin the shortest possible time, without being charged (commissions) by the third banks.
Non-cash (without cash transfer) currency transactions are performed by  "EuroCreditBank" on the basis of the client's Application Form {reference to the sample of the application} for non-cash purchase/sale of foreign currency.

Non-cash currency transactions include the following steps:
1. The client presents the Application Form for purchase/sale of currency.
2. The negotiations (talks) are carried on, and the requested currency rate (indicated in the Application) is established.
3. The responsible collaborator (the bank's authorized person) receives the Application (order) and examines its correctness and completeness.
4. The availability of sufficient resources on the client's account is verified for further examination of the application (order).
5. The Dealer signs the Application for currency purchase/sale.
6. The bank's person in charge examines the client's Application.
7. The equivalent of the sold/purchased currency is passed to the client's account.

Note: The currency exchange rate might be modified on client's request during the day.

When the client applies directly to the Currency Conversion Department, the Dealer might report the non-cash currency rate indicated in the client's Application. Depending on the situation on the money market, the foreign exchange operations are performed under the rate fixed by the Currency Conversion Department.
As a rule, applications registered until 2:00 p.m. should be examined in the same day, those registered after 2:00 p.m. might be examined in the same day, however with the "tomorrow" currency rate, or the rate of the next working day.
When performing non-cash currency operations, the bank does not charge from the client's account any determined (fixed) commissions, or collects from the client's account some determined (fixed) commissions only with a mutual agreement between the Client and the Bank.
Foreign exchange operations are performed in accordance with Exchange Regulations of theRepublicofMoldova; with the established restrictions on the open currency position; and other legislative acts.

More than that, "EuroCreditBank" offers the following services:
- "Spot" currency exchange transactions;
- "Forward" and "Swap" currency transactions.

Moreover, the Bank renders foreign exchange services without being obliged to open an account in our Bank. In this case, an agreement between the Client and the Bank regarding conversion is concluded, and the purchased currency amount (or its equivalent in Moldavian lei (MDL)) for the sold currency amount is being transferred into the Client's account in another bank.



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