Banking terms

Reference: search payments and account terminology

IBAN

International account number

SWIFT/BIC

Bank code for international transfers

SEPA

Euro payments area

ПЗВ / RCD

Residual current device

Ескроу

Conditional holding account

Акредитив

Bank's duty to pay on documents

Фінмоніторинг

AML transaction monitoring

Structuring

Splitting sums to dodge limits — violation

Кореспондентський банк

Intermediary in a SWIFT chain

Спред

Buy/sell difference

Хеджування

Currency risk insurance

Ліміт овердрафту

Account credit limit

Short definitions for orientation. For legal details — ask your bank/lawyer.