Credit Transfer

Credit transfer is a payment instrument where payers instruct the bank that maintains their account to transfer certain amount of funds to the account of the recipient. Instructions for initiating credit transfer can be submitted in paper or electronic form.
Credit transfers in the Republic of North Macedonia are initiated by using paper and electronic orders. Payment instructions in electronic form must contain the same elements as the instructions for payment in paper, with mandatory authentication. The credit transfer initiator has the option to choose the payment system which will execute the payment (MIPS, KIBS or intrabank systems for processing payments between customers of a same bank).