Cut-off Time

To corporate clients of Gazprombank (Switzerland) Ltd

Zurich, January 28th, 2015



Dear Sir/Madame,

In fulfilment of our ongoing commitment of providing exceptional banking services, please be informed that starting from February 1st, 2015 Gazprombank (Switzerland) will be implementing following changes with regard to current account relations. Starting from the 1st of February 2015:

  1. All payment orders exceeding the available credit balance shall be kept unexecuted until the relevant account is credited with sufficient funds or arrangements for an overdraft facility are made. If no overdraft facility arrangements are made and the account is not credited with sufficient funds within 3 working days since the receipt of the order such payment orders shall be automatically cancelled and deemed void.

  2. The outgoing payment cut-off times will remain unchanged as follows*:  

Region

Currency Code

Currency by Country

Order from the Client

  

Switzerland

 

 

 

 

CHF

Swiss Franc

14:00

Europe

 

 

 

 

EUR

EURO

13:30

 

GBP

British Pound

13:30

 

SEK

Swedish Krona

11:00

 

DKK

Danish Krone

11:00

 

NOK

Norwegian Krone

11:00

 

PLN

Polish Zloty

9:30

 

CZK

Czech Koruna

8:30 one day in advance

Russian Federation

 

 

 

 

RUB

Russian Ruble

8:30

Americas

 

 

 

 

CAD

Canadian Dollar

13:30

 

USD

US Dollar

13:30

Asia Pacific

 

 

 

 

AUD

Australian Dollar

8:30 one day in advance

 

JPY

Japanese Yen

8:30 one day in advance

*Zurich local time

All payment orders received after a relevant cut-off time shall be executed with value date the following working day. However if a need should arise to execute payments after relevant cut-off times on regular basis, extended cut-off times  could be considered, subject to individually discussed tariffs.

We will be happy to provide additional information and comments on the above subject and other matters concerning our business relations if such need should arise.

Yours faithfully,

GAZPROMBANK (SWITZERLAND) LTD