IMPORTANT TO REVIEW
Euro Pacific Bank has created three different options for receiving USD, in our mission to offer you a stable, reliable, and permanent method for facilitating USD payments.
|Method||When do I use these instructions?||Cost||Direct Clearing1||ABA Number|
|Standard||This is your primary instruction, valid until December 31st 2018. Incoming payments through this instruction after this date will be returned.||Standard Fees||Yes||No|
|Federal Reserve||From January 1st 2019, please use this instruction as we will no longer be offering the Standard Instruction above. If used before January 1st 2019, please be aware of the surcharge2.||Standard Fees + $60 surcharge per transfer if used before January 1st 20192||Yes||Yes|
|Alternative||If the options above do not work, you may use this alternative instruction.||Standard Fees + intermediary bank fees3||No||No|
1Direct clearing means that payments are cleared directly through an intermediary bank. This means that the sending bank can send the payment with your account name listed as the Beneficiary (Field 59), as opposed to in the Reference field (Field 70 or 72). In the case of the Alternative Instruction, payments are processed through another third party processor, not directly through the bank.
2These additional costs are a result of the fact that processing through the Fed is not yet automated. The Bank is working with the Fed to enable fully automated transaction processing, which will eventually result in lower costs and faster settlement.
3An international payment may utilize one or more intermediary banks, as it passes through the payment chain. This may result in additional charges, levied by the intermediary bank(s). We credit the exact amount our payment processor receives, followed by our incoming wire fee. We cannot accept any liability if an intermediary bank in the payment chain adds additional transfer fees.