What are the general rules for Incoming Payments?

PayPugs Incoming Payment policy

  1. The incoming payment fee is determined by the beneficiary’s account type.  If a SEPA payment is requested to a  beneficiary whose account does not support SEPA payments,  the incoming SEPA payment fee can not be applied and the SWIFT payment fee is applied instead.
  2. The incoming payments to the customer’s PayPugs accounts are applied within 12 working hours since submitting the incoming payment request, (with all supporting documentation attached).  
  3. The cut-off time for incoming payments and incoming payment requests is 18:00(GMT+3). Payments received after the cut-off time will be reviewed and processed the following business day (from 9:00 (GMT+3)). 
  4. The account owner holds full responsibility for informing the incoming payment sender of the correct payment reference: account currency, account reference number, and the full legal name of the recipient. The account holder is also responsible for completing the request appropriately. 
  5. If an incoming payment has been received to a PayPugs account but the request was not submitted through the PayPugs Internet bank, the payment will be returned to the sender within 5 business days with the incoming payment fee applied. 
  6. In the case where a payment is received to a PayPugs account and the incoming payment request is submitted afterwards, an additional fee is applied.