As required by the Central Bank of the United Arab Emirates (UAE), all outgoing remittances (in any currency) to that country must include a three-digit Purpose of Payment Code.
Enter the purpose of payment code in the Additional Codes field in the format: /BENEFRES/AE/XXX, where XXX is the selected purpose of payment code.
The list of purpose of payment codes can be found HERE.
More information can also be obtained from the UAE Central Bank.
Glossary of terms
A
ADET
Association of the Foreign Exchange Market - a professional association of leading non-bank foreign exchange dealers in the Czech Republic.
Account number
The account number is a numerical identification of a bank account.
Appression
An increase (appreciation) in the exchange rate of one currency against another depending on the situation on the foreign exchange market (supply and demand for the currency).
Anchor
Specific exchange rate offer.
Amortization
Devaluation (weakening) of the exchange rate of one currency against another depending on the situation on the foreign exchange market (supply and demand for the currency).
ARES
Administrative Register of Economic Entities - an information system that collects data from various registers and enables a search among all economic entities registered in the Czech Republic.
ASK
The price at which a bank sells currencies, i.e. the price charged by a dealer when selling currencies to another bank or to a customer.
Alternative authentication
Alternative authentication means that a user's identity is verified by a series of additional questions to which only the user can know the answer.
Authentication
Authentication refers to the verification of a user's identity using an authentication SMS.
Authentication
Transmission of information about an expected upcoming payment to AKCENTA CZ a.s.. Enables the assignment of a pending payment to a specific customer.