Frequently asked questions about treasury

Treasury solutions help manage your company's cash flow, ensuring liquidity, financial control, and the ability to meet short-term obligations.

We offer instruments such as overdraft facilities, authorized overdrafts, bill discounting, factoring, confirming, among others. Each product is designed to address different liquidity needs.

By having an assessment with your account manager, who will analyse your business’s financial cycle and recommend solutions aligned with your company’s goals.

Factoring allows you to advance receivables from customers. Confirming facilitates payments to suppliers and may include financing for them. Both improve treasury efficiency.

Yes. Millennium bcp offers solutions for balance concentration and intercompany liquidity management, providing greater financial control and optimizing resources.

Costs vary depending on the product, amount, term, and associated guarantees. Check the price list or speak directly with your account manager for a personalized quote.

It depends on the product. Some solutions require collateral (e.g., pledge, mortgage) or personal guarantees, while others may be based on your company’s relationship history with us.

You can start the process online or contact your account manager directly. The process involves credit assessment, submission of documentation, and contract approval.

Yes. You can monitor balances and transactions, make and receive payments, calculate operations, and authorize transactions securely.

Yes. We offer solutions tailored to micro-enterprises, SMEs, and large companies, designed to fit the specific characteristics of each sector and transaction volume.

We offer a wide range of fixed-term and investment solutions for treasury surpluses.

Yes. We provide a wide range of products available through multiple automated channels (SWIFT, Internet Empresas, Multibanco, B2B Services, and open banking technology).

Integrated solutions are packages of products and services designed to meet daily transactional needs, offered at a lower cost than purchasing each product or service individually.

Yes, we have suitable solutions for these activities through companies specialized in cash collection and processing services.

The IBAN is a piece of information used to identify, within the SEPA area, the beneficiary's country, bank, and account. It can be up to 34 characters long. The first two characters indicate the country where the account is held, while the third and fourth are check digits used to validate the country code. The remaining characters follow the account structure defined by each country - in Portugal, this corresponds to the NIB.

In Portugal, the IBAN always has 25 characters and is formed by adding the prefix "PT50" to the NIB. Example: PT50 0123 1234 12345678901 34.

Even for transfers within the European Union, the IBAN alone may not be enough to process the transaction and should be accompanied by the BIC (SWIFT) code.

It's a code used to identify banks (Bank Identifier Code) in the SWIFT network. The BIC is defined by ISO (International Organization for Standardization), which designated SWIFT as the authority for issuing BICs (ISO 9362).

Millennium bcp's BIC code is: BCOMPTPL.

1. 8-character BIC SWIFT (e.g., AAAABBCC)
   
   AAAA = Bank code (identifies the financial institution)
   BB = Country code
   CC = Location code (distinguishes geographical location within the country)
2. 11-character BIC SWIFT (e.g., AAAABBCCDDD)
   
   A BIC SWIFT can have up to 11 characters by adding a 3-character alphanumeric branch code:
   DDD = Branch code

SWIFT: An international communications network used by financial institutions worldwide.

It allows the identification and validation of the beneficiary’s country, bank, and account, helping banks process international transfers faster, with fewer errors and lower costs.

They are euro transfers to SEPA member countries, using the beneficiary’s IBAN and the SHA fee option (costs shared between the sender and the beneficiary).

After sending the transfer or the file with multiple transfers, the company can check the operation details - such as the number of records, the total amount, and the data for each transfer. It's also possible to see which portal users were involved in the operation.

Access it via: Authorizations > Operation History.

The debit note is available for each individual transfer or for each record included in a batch file and corresponds to the amount debited from the account.

Companies that have subscribed to the digital debit note service can download it from day D+2 (D being the processing date) in the Corporate area of millenniumbcp.pt, under: Other Services > Documents > Digital Statement and Debit Notes (.pdf) > <Debit Notes (.pdf) > View.

SEPA (Single Euro Payments Area) is a region in Europe where individuals and businesses can make and receive euro payments under the same conditions, rights, and obligations, whether they are in their own country or abroad. This means that domestic payments are now treated the same throughout the entire SEPA area.

The SEPA area covers 36 countries and territories: the 27 European Union member states, the overseas territories - French Guiana, Gibraltar, Guadeloupe, Martinique, Mayotte, Réunion, Saint Barthélemy, Saint Martin, and Saint Pierre and Miquelon - as well as Andorra, Iceland, Liechtenstein, Monaco, Norway, the United Kingdom, Switzerland, San Marino, and Vatican City.

Yes. SEPA makes it easier for companies to manage payments and collections. Now, they can handle all euro transactions using a single account at Millennium bcp, with the same payment and collection methods.

Payments and collections are processed more simply, using a single format for all transactions, which helps consolidate everything faster and more cost-effectively.

There are three main instruments:

• Credit transfers:
  An interbank system with common rules for euro transfers. It ensures that the full amount sent reaches the beneficiary, with no extra fees between banks, costs are shared ("shared").
• Direct debits:
  Allow payments in euros to be collected across the SEPA area, with the debtor's authorization. There are two types: the standard, which allows refunds, and B2B, for businesses only, with no refunds allowed.
• Cards:
  Card payments can be made across the SEPA area with a single card, depending on merchant acceptance of the card brand. Merchants accept cards regardless of the card's country of origin, and any processing fees should be the same throughout the SEPA area.

All SEPA transactions are conducted in euros. Transactions in any other currency (e.g., USD) are not considered SEPA transactions.

Millennium bcp is developing several projects in e-invoicing, e-billing, and e-reconciliation, including B2B platforms and a global file converter. These solutions will help companies address the challenges posed by SEPA.

You can find more information on the following websites:

• Banco de Portugal: www.bportugal.pt
• European Commission (EC): www.ec.europa.eu/internal_market/payments/index_en.htm
• European Central Bank (ECB): www.ecb.int/paym/pol/sepa/
• European Payments Council (EPC): www.europeanpaymentscouncil.eu