1. ADNEOM T ECHNOLOGIES : EXPERTS STRIVING FOR EXCELLENCE www.adneom.com ADNEOM B ENELUX EXPERTS STRIVING FOR EXCELLENCE WWW. ADNEOM. COM ADNEOM B ENELUX T RAINING

2. ADNEOM T ECHNOLOGIES : EXPERTS STRIVING FOR EXCELLENCE www.adneom.com ADNEOM B ENELUX EXPERTS STRIVING FOR EXCELLENCE WWW. ADNEOM. COM Payments 1. A simple payment Person A asks at his bank to debit his account and credit the account of person B at the same bank. Person A being a gentleman, person B being a nice lady, this leads to the following:

3. ADNEOM T ECHNOLOGIES : EXPERTS STRIVING FOR EXCELLENCE www.adneom.com ADNEOM B ENELUX EXPERTS STRIVING FOR EXCELLENCE WWW. ADNEOM. COM Payments If they are not at the same bank, A will ask his bank to give the money to B’s bank. The banks will exchange the money and the information where to put it.

4. ADNEOM T ECHNOLOGIES : EXPERTS STRIVING FOR EXCELLENCE www.adneom.com ADNEOM B ENELUX EXPERTS STRIVING FOR EXCELLENCE WWW. ADNEOM. COM Payments 2. A payment in another currency When a payment is in another currency than the bank’s home country (in casu EUR), that bank has to get its money from his correspondent. A correspondent is a bank that holds our main account from a certain currency. That bank will be in the same country as the currency, like GBP will be a bank in Great Britain, JPY will be a bank in Japan, USD will be a bank in the USA, and so on. If we pay in USD for example, the scheme will look like this:

5. ADNEOM T ECHNOLOGIES : EXPERTS STRIVING FOR EXCELLENCE www.adneom.com ADNEOM B ENELUX EXPERTS STRIVING FOR EXCELLENCE WWW. ADNEOM. COM Payments 3. A payment in EUR to a beneficiary bank outside EMU The other way around can also happen. If we pay in our home currency EUR to a bank that hasn’t EUR as home currency, they have to pass via a correspondent as well.

6. ADNEOM T ECHNOLOGIES : EXPERTS STRIVING FOR EXCELLENCE www.adneom.com ADNEOM B ENELUX EXPERTS STRIVING FOR EXCELLENCE WWW. ADNEOM. COM Payments 4. A payment with two correspondents The most complex situation is when we pay a foreign currency to a customer that has his bank in another country than that foreign currency too. This way, we will see our payment passing two correspondents. For example: we pay USD to a British bank.

7. ADNEOM T ECHNOLOGIES : EXPERTS STRIVING FOR EXCELLENCE www.adneom.com ADNEOM B ENELUX EXPERTS STRIVING FOR EXCELLENCE WWW. ADNEOM. COM Payments