You can transfer funds in the required foreign currency to another account opened with a bank that operates abroad. International transfers are available online or at a bank unit of your choice.
Service
To choose the best way to transfer your money cross-border, consider the destination country, the currency and how fast you need your funds transferred.
This method is used to transfer funds in different currencies to just about all countries in the world. The transfer is performed via correspondent accounts opened with correspondent banks, therefore you have to specify the details of your selected correspondent bank as well as the beneficiary’s account number and the bank’s BIC code.
- Money can be transferred to most of the banks worldwide
- The money transfer can be standard, urgent and express (the duration depends on the currency, the location of the remitter's bank and the time of filing the order)
- Additional information might be required depending on a country where the beneficiary is located
- The cost of transfer can be covered entirely by the payer (OUR) or the payer pays SEB Pank commission fees and the payee pays other bank commission fees (SHA)
To choose the best way to transfer your money cross-border, consider the destination country, the currency and how fast you need your funds transferred.
This method is used to transfer funds in different currencies to just about all countries in the world. The transfer is performed via correspondent accounts opened with correspondent banks, therefore you have to specify the details of your selected correspondent bank as well as the beneficiary’s account number and the bank’s BIC code.
How to transfer funds?
The most convenient way to transfer money in a foreign currency is via the internet bank.
Log in to the internet bank, select “Payments” → “New payment”, complete the required fields of the payment order and confirm the transaction.
If you are unable to make the transfer in the internet bank, you can book a meeting at any branch of SEB. Remember to take your personal identity document and fill in the required payment order.
Ordinary payment
- The payment will be sent out of the bank on the second working day after the bank has received the payment order;
- Available in all transfer currencies listed by the bank;
- There is no time limit for making an ordinary payment in the Internet Bank and the mobile application.
Urgent payment
- The payment will be sent out of the bank no later than on the next working day;
- Available in all transfer currencies listed by the bank;
- An urgent payment made before 3 p.m. will be executed on the next working day; a payment made after 3 p.m. will be executed on the working day after the next.
Express payment
- The payment will be sent out of the bank on the same business day;
- Express payments can be made in the following currencies: EUR, CAD, GBP, USD, CHF, NOK, SEK, DKK;
- In the Internet Bank and the mobile application, you can only make a payment up to the time indicated below. We are not able to send out payments that are made later.
- EUR, CAD, GBP, USD – 4.30 p.m.
- CHF, NOK, SEK – 3 p.m.
- DKK – 1 p.m.
When will the payment reach the recipient?
- ordinary payment: in 2–7 working days;
- urgent payment: within 2–5 working days;
- express payment:
- if the bank of the recipient is located in a contracting country of the European Economic Area and the amount is in the currency of a contracting country – received no later than the next working day,
- in another currency and to a bank of the recipient located outside a contracting country – received no later than on the fifth working day.
Please note! Due to the exceptional global economic situation and sanctions, banks may carry out additional checks on payments, which may mean that the payment reaches the recipient slower than usual.
The speed of receipt of an international payment depends on the payment currency, the bank of the recipient, the correspondent bank, and the destination country. We recommend that you consult with us before making an international payment.
Receiving money
If funds are transferred to you from an account opened with another bank operating abroad, it will be credited to your account on the same day it reaches the SEB. The funds received from another bank after 5.00 p.m. may be credited to the payee's account on the next business day.
If funds are transferred:
- to the bank account, which is already handled in payment currency, they will be credited in the currency they are received in
- to the bank account, which is not handled in payment currency, they are automatically exchanged at the valid exchange rate of the SEB
- to a credit card account, they will be credited in euro (the transferred currency is automatically exchanged at the valid exchange rate of the SEB)
What should you specify to the remitter for money to be credited to your account?
If you are expecting money transfer to your account with the SEB from abroad, you should specify to the remitter following details:
- The correct number of your account with the SEB (the funds are credited to the account based on the number)
- Your first name and surname
- Your residential address
- Bank name (AS SEB Pank) and SWIFT code (EEUHEE2X)
- Exact name and SWIFT code of the abroad
Please note that only the account number is checked by the bank when the money is credited to an account.
Adding beneficiary's address in cross-border payments
Cross-border payments can be forwarded to beneficiary, if the beneficiary’s address is added to the payment order as follows:
- From 1st of June 2021 to payments to Canada in any currency, and/or to payments in Canadian dollars (CAD) to any country.
- From 1st of July 2021 to payments to Ukraine in any currency.
Beneficiary´s address has to be entered in the corresponding field of payment order or in business customer’s file in case of file import.
Restrictions
SEB bank provides US dollar payment service only to persons and companies that have indicated their place of residence or company registration in Estonia. SEB will not be able to make payments in US dollars to other customers due to restrictions imposed by intermediary banks.
For your convenience, we advise you to make money transfers or receive incoming payments in SEB in euros or to execute payment orders in US dollars through a bank in the country of your residence or company registration.
Due to international sanctions, mutual rules set by correspondent banks, SEB Group‘s and SEB bank‘s internal policies, bank is not supporting payment services to and from Russia and Belarus, also it is restricted to make or receive payments related with countries and territories listed below:
- Cuba
- Crimea/Sevastopol
- Iran
- North-Korea
- Sudan
- Syria
- Venezuela
Due to international sanctions regimes or sanctions evasion risk, mutual rules set by correspondent banks, SEB Group‘s and SEB bank‘s internal policies, certain limitations might be applied for payments related with countries and territories listed below:
Afghanistan, Armenia, Azerbaijan, Central African Republic, Transnistria (Moldova), Cuba, Democratic Republic of the Congo, Egypt, Guinea (Republic of), Guinea-Bissau, Iraq, Kyrgyzstan, Lebanon, Libya, Mali, Myanmar (Burma), Nicaragua, Ukraine, Somalia, United Arab Emirates, Luhansk/Donetsk/Herson/Zaporižžja, Sudan, South Sudan, Zimbabwe, Yemen, China, Turkmenistan, Pakistan, Turkey.
We may ask to provide additional information and documents if any direct or indirect connection with above mentioned countries or territories was identified, therefore execution of payment may be delayed.
The list of countries and territories is not exhaustive and restrictions may change over time taking into account changes in international sanctions regulation, mutual rules set by correspondent banks, SEB Group‘s and SEB bank‘s internal policies.
Due to bank policy, SEB Pank does not settle with natural or legal persons, institutions or entities included in the list of OFAC SDN (Office of Foreign Assets Control Specially Designated Nationals List).
Since 3 May 2022, SEB no longer executes transactions in Russian roubles.
Since 1 June 2022, SEB has stopped offering payment services in all currencies to Russia and Belarus.
In addition, Russia and Belarus are subject to extensive sanctions, due to which SEB may also refuse to execute other transactions that have a link to Russia or Belarus. Information on Russian and Belarussian sanctions are available here.
| Outgoing payments | At a bank office | Electronic services (incl. standing payment order, banklink payment) |
|---|---|---|
| 1. Internal payment (1) | ||
| the internal payment on the transfer order | EUR 2.30 | EUR 0.16 |
| in foreign currency | EUR 3 | EUR 2 |
| intra-account conversion | free of charge | free of charge |
|
2. European payment (1,2) |
||
| ordinary payment (incl. instant payment (3)) | EUR 3.50 | EUR 0.38 |
| express payment (4) | EUR 35 | EUR 30 |
| 3. Cross border payment | ||
| ordinary payment: | ||
|
with shared charges (5) |
EUR 25 | EUR 6 |
|
without charges to beneficiary (6) |
EUR 45 | EUR 26 |
| Urgent payment: | ||
|
with shared charges (5) |
EUR 35 | EUR 14 |
| without charges to beneficiary (6) | EUR 55 | EUR 34 |
| express payment in euros | ||
|
with shared charges (5) |
EUR 35 | EUR 30 |
|
without charges to beneficiary (6) |
EUR 55 | EUR 50 |
| express payment in foreign currency (7) | ||
|
with shared charges (5) |
EUR 60 | EUR 39 |
|
without charges to beneficiary (6) |
EUR 80 | EUR 59 |
| 4. Transfer order for debiting in consolidated amount (8) | - | EUR 0.16 |
| the internal payment on the transfer order | - | free of charge |
| the ordinary European payment on the transfer order | - | EUR 0.38 |
| 5. Exchange rates used for executing a payment transaction | ||
| an amount corresponding to 10 000 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 10 000 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) 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.
(2) 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, Andorra, San Marino, the United Kingdom or Monaco.
(3) Instant payments can be made only in electronic channels – in Internet Bank (including import of payments) and SEB mobile app.
(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, Andorra, San Marino, the United Kingdom 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) Can be made only to a beneficiary’s bank outside the EEA contracting country. If the actual costs of other payment service providers, participating in processing a cross border payment, exceed EUR 20, the bank may later debit in addition the difference of the commission fees from the client’s account, however not more than within an amount, corresponding to EUR 75. The bank ensures transfer of the cross border payment in full amount from the bank’s correspondent account, however shall not guarantee that the payment is received in the beneficiary’s account in full amount.
(7) Upon agreement with the Markets department.
(8) 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.
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.
