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Cross-border payments

Cross-border payments

Payments in foreign currency or outside European Economic Area

  • Fast transfers to the SEB Group banks
  • Urgent and express payments

Payments in a foreign currency (including payments in euro to a bank outside European Economic Area) must be originated as cross-border payments even in case the beneficiary’s bank is situated in Estonia.

Overview

An ordinary cross-border payment will reach the beneficiary in 2-7 settlement days, depending on the country. Ordinary payments have the most favourable the commission fees.

Urgent payment will generally reach the beneficiary in 2-5 settlement days.

Express payment will reach the beneficiary’s current account the latest on the next settlement day, if you originated the payment on a working day:

  • For Canadian dollar, pound sterling and Russian rouble, before 11.a.m.
  • For Danish krone, Norwegian krone and Swiss franc before 1.p.m.
  • For US dollar, euro and Swedish krona before 3 p.m.

If someone wants to send you a payment from abroad

Forward to the remitter:

  • IBAN of your current account, which can be found from the Internet Bank or calculated by using a calculator. Estonian IBAN has 20 digits (E.g.: EE901010123456789012)
  • SEB Bank BIC (SWIFT Code): EEUHEE2X
  • Bank’s address: Tornimäe 2, Tallinn, Estonia

The speed of receiving a cross-border payment depends on the type of payment, selected by the remitter, the country of location and currency. Read more

Cross-border payments

  1. Choose the type of payment: the speed and commission fee of payment depend on it.1. Choose the type of payment. The speed and commission fee of payment depend on it.
    • Ordinary payment
    • Urget payment
    • Express payment
  2. Choose suitable type of commission fee
    • In the event of a payment with shared charges (SHA), the payment of commission fees is different for settlements in the European Economic Area (EEA) or outside it. If the beneficiary is located in the EEA and the payment is made in a currency used in the EEA, no bank in the payment chain can deduct service charges from the amount specified in the payment order. If you initiate a payment with shared charges, the amount will reach the beneficiary’s bank in full and you will pay the commission fee of SEB and the beneficiary will pay the fee of his bank. Shared charges is the most common type of commission fee in the world. If a payment with shared charges is made outside the EEA, each bank in the payment chain will deduct its service charges from the amount.
    • For a payment “without charges to beneficiary” (OUR) you will pay all the commission fees. The payment will generally reach the beneficiary in full amount. Starting from 22 May 2010, this type of commission fee can be used for making payments between the EEA member states or in a currency, effective in the EEA only, if upon originating, the payment involves currency conversion.
  3. If the payment is in another currency than that of the beneficiary’s country, enter also the correspondent bank data of the beneficiary’s bank, provided by the beneficiary (name, address (city and country) of the correspondent bank, other additional data).

If you make cross-border payments to Russia, then read more from the instructions of making RUB payments Instructions for making rouble payments to Russia.

Main correspondent banks of SEB
Restricted regions for cross-border payments

Terms and conditions of settlement

SEB Group payments

As a client of SEB you can make payments to and receive payments from the banks belonging to the SEB Group very quickly and on special conditions if the beneficiary’s account has a correct IBAN and the beneficiary's bank has a correct BIC (this condition does not apply to payments made to banks of the United States, Singapore, Ukraine and Russia).

Payments made to banks belonging to the SEB Group reach the beneficiary’s account on the same day if the payment is made on a settlement day before 3 p.m.

Country Name of bank BIC code
Latvia SEB Banka UNLALV2X
Lithuania SEB Bankas CBVILT2X
Sweden SEB ESSESESS
Denmark SEB Denmark ESSEDKKK
Norway SEB Norway ESSENOKX
Finland SEB Helsinki ESSEFIHX
Great Britain SEB London ESSEGB2L
Germany SEB AG ESSEDEFF
Poland SEB Poland ESSEPLPW
Luxembourg SEB Private Bank Luxembourg ESSELULL
Switzerland SEB Private Bank Switzerland ESSECHGG
United States SEB New York Branch ESSEUS33
Singapore SEB Singapore Branch ESSESGSG
Ukraine SEB Corporate Bank PJSC ESSEUAUK
Russia SEB Bank SEBPRU2P

 

Receivables

The speed of receiving a cross-border payment depends on the type of payment, selected by the remitter, the country of location and currency.

As a rule, we transfer receivables to your account on the same settlement day. If the payment reaches the bank after 4 p.m, the recevables will be transfered to your account on the next settlement day.

Currency conversion of cross-border receivables

If you receive foreign currency in your current account, the currency will be converted into account currency by using the transfer rate, applicable on the settlement day.

If you would like to receive the amount in the currency it was received, then open a current account or a currency interface of your account for the relevant foreign currency in Internet Bank or at a branch.

IBAN calculator

IBAN calculator

Price list

Outgoing payments Over the counter, phone banking operator service Electronic services (inc standing payment order)
1. Internal payment (10)    

in euros

EUR 1.80 (1) EUR 0.16 (2)

in foreign currency

EUR 2 EUR 1.92

intra-account conversion

free of charge free of charge
2. European payment (3) (10)    
     ordinary payment EUR 2,70 (1) EUR 0.38 (2)
     express payment (4) EUR 35 EUR 30
3. Cross border payment    
ordinary payment    
  with shared charges (5) EUR 10 EUR 5.75
  without charges to beneficiary (5,6) EUR 29 EUR 24.92
urgent payment    
  with shared charges (5) EUR 16 EUR 12.78
  without charges to beneficiary (5, 6) EUR 36 EUR 31.95
express payment    
  with shared charges (5) EUR 50 EUR 38.35
  without charges to beneficiary (5, 6) EUR 70 EUR 57.52
4. Payment to SEB Group (7)    
in euros (8) EUR 2.70 EUR 0.38
in foreign currency    
- with shared charges EUR 5 EUR 1.92
- without charges to beneficiary EUR 10 EUR 6.39
5. Transfer order for debiting in consolidated amount (9) - EUR 0.16
   the internal payment on the transfer order - free of charge
   the ordinary European payment on the transfer order - EUR 0.38
6. Exchange rates used for executing a payment transaction    
  an amount corresponding to 6500 euros or equivalent in other currency transfer purchase or sale rate of the respective currency valid at the bank at the moment of debiting transfer purchase or sale rate of the respective currency valid at the bank at the moment of debiting
  an amount starting from 6500 euros or equivalent in other currency

Market rate determined by the bank, if the payment is made on a settlement day from 9.00 to 17.00.
For payments made outside the specified time limit, the transfer purchase or sale rate of the respective currency valid at the bank at the moment of debiting shall be used.

Market rate determined by the bank, if the payment is made on a settlement day from 9.00 to 17.00.
For payments made outside the specified time limit, the transfer purchase or sale rate of the respective currency valid at the bank at the moment of debiting shall be used.

(1) For SEB 60+ Plan owners payments through phone banking operator service – EUR 0.19.
(2) With a Postipank card in ATM – EUR 0.45 .
(3) Payments in euros, shared charges, beneficiary's account number must be indicated with IBAN. If the beneficiary's bank is outside Estonia, the beneficiary's bank must have a correct BIC. The beneficiary's bank is in a member state of the European Union, Island, Liechtenstein, Norway, Switzerland, Monaco.
(4) Payment originated in euros only to a member state of the Eurozone (Austria, Belgium, Estonia, Spain, Netherlands, Ireland, Italy, Greece, Cyprus, Lithuania, Luxembourg, Latvia, Malta, Portugal, France, Germany, Slovak Republic, Slovenia, Finland), if the bank has accepted the payment before 17.45. The beneficiary's bank must have a correct BIC and account number must be indicated with IBAN.
(5) If a payment in any currency is made to an European Union Member State, Island, Norway, Liechtenstein, Switzerland or Monaco and the account number on the payment order is not in the IBAN format, a fee in addition to the above commission fees may be charged in amount, corresponding to 12 euros.
(6) If the actual costs of processing a cross border payment by foreign banks exceed EUR 19.17, the bank may debit from the customer's account in addition also the difference of the commission fees, however not more than within an amount, corresponding to EUR 75. The bank guarantees transfer of payment to foreign banks in full amount.
(7) Outgoing payments to the banks of the SEB Group shall be transferred to the beneficiary's account on the banking day the transfer order was given, if accepted by the bank before 3 p.m. The beneficiary bank must have a correct BIC and account number must have a correct IBAN.
(8) If the beneficiary's account is opened in an SEB Group bank, the remitter shall have the right to make the transfer pursuant to the conditions of executing a transfer order that suit the remitter (term, commission fees) as an SEB Group payment or as an European payment.
(9) A transfer order for debiting a consolidated amount can be forwarded from electronic channels via Host to host banking interface and SEB Internet Bank for Business.
(10) Upon compulsory collection (attachment order of a bailiff, tax administrator, other entitled persons) the fee for a payment made at a branch office shall apply.
(11) Upon agreement with the Markets department.

The service fee for a cross-border payment has up to three different components depending on the type of payment:
1. the SEB Estonia services fee
2. the services fees of foreign banks
3. the services fees for handling a payment order as an urgent payment

Receivables  
1. Internal free of charge
2. European payment (1) free of charge
3. Cross border payment International (2) EUR 5.75
     from the Baltic banks of the SEB Group free of charge
(1) Cross-border receivable in euros with shared charges. Beneficiary's account number must be indicated with a proper IBAN and remitter's bank has to be an European bank.
(2) An incoming payment is free of charge if the transfer order has been marked by remitter's bank as "without charges to beneficiary". An exception is a transfer order received from an European bank marked as "without charges to beneficiary", where the remitting bank has not indicated currency conversion.

 

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