Doing a cash management review for a client and checking the cash management costs of their local bank.
- December 27, 2023 at 3:16 pm
Pricing is significantly higher then other banks charge in other countries.
For sepa i would expect costs of 0,05-0,20 per transaction. For WIRE payments 5-15 euro per payment.
Is there a reason why it should be higher in Italy ?
thnx for the help hereTreasury for champions
I believe it depends on relationship/negotiation (if at least your Italian bank is part of your global relationship bank..)…
- January 5, 2024 at 3:27 pm
For us we have an agreed European (Euro) agreed pricing structure, regardless of being Italy or for example Austria.
- January 5, 2024 at 4:55 pm
I agree on the relationship/negotiation with the banks. Every script can cost below 0.20. Cross border payments (otuside SEPA) might cost 5 EUR.
Thanks Hans and Danilo for your replies.
- January 5, 2024 at 5:16 pm
I agree it should not be different to other countries and a matter of negotiation. A very odd and expensive quote from a global bank made me thing there might be some specials in Italian cash management.
This forum proves to be the perfect place to get answers and confirmation quickly 🙂Treasury for champions
Our Italian subsidiary has a non resident EUR bank account in our Dutch Rabo NL notional cash pool benefiting from negotiated Rabo bank charges.
- January 25, 2024 at 2:31 pm
- January 25, 2024 at 2:44 pm
good one! probably saves you money indeed.
Follow up question then: how do you deal with Tax payments which need to be done by local italian banks ?Treasury for champions
Italians tax payments (F24 form) are executed by a local Italian bank, also used for some petty cash transactions and credit cards.
- January 25, 2024 at 2:59 pm
F24 via BNL (100% sub of BNP) and loaded via file upload in global portal (but took long time to develop the file upload process…)
- February 13, 2024 at 5:36 pm
I am interested how you are managing PagoPa payments in Italy ? We have hundreds of them per month… and this can’t be paid via SEPA but is really a local payment scheme with specific Qbill codes and references (aviso) and is currently all done manually in local BNL portal by Outsourced AP department.
Does anyone have setup where they can pay PagoPa via SAP or via TMS in an automated way ?
F24 can be done via XML indeed with a special setup (and the receiving bank need to be able to accept them).
- February 14, 2024 at 11:02 am
PagoPa via upload from TMS/File i have never seen. I know Unicredit is working on it but not yet finished.
PagoPa via a bank specific setup is working. Unicredit has a solution where they prepare it in their online banking tool and from there it can be approved/send to the tax authoristies. Better then doing it manually!
But again this will depend from bank to bank and their service offering.
Happy to hear other opinions here as well.
Same for Spain but that should be a different topic.Treasury for champions
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