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Cross-border payment
Payment in foreign currency or outside European Economic Area
- Possibility of urgent and express payments
The following must be made as a cross-border payment:
- any payment in a foreign currency (even, if the beneficiary’s bank is in Estonia);
- payment in euro to a bank outside the European Economic Area.
As a client of SEB, you can make payments to and get payments from SEB Group banks on favourable conditions and at a very high speed.
An ordinary cross-border payment will reach the beneficiary in 2-7 settlement days, depending on the country.
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 Danish krone and Russian rouble before 1 p.m.
- For Swedish krona, Norwegian krone and Swiss franc before 3 p.m.
- For euro, US dollar, British pound and Canadian dollar before 4.30 p.m.
If someone wants to send you a payment from abroad, forward to the remitter:
- international format, i.e. 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;
- Address of SEB Pank: Tornimäe 2, Tallinn, Estonia
SEB Internet Bank for Business enables you to may manage all your accounts, including your accounts in foreign banks, in one location. In Internet Bank you can originate transfers from foreign accounts and order their account statements.
1. Choose the type of payment
The speed and commission fee of payment depend on it.
An ordinary payment reaches the beneficiary within 2–7 settlement days, depending on the payment currency and the country to which the payment is made, if SEB has accepted the payment order before 5 p.m. on a settlement day.
An urgent payment reaches the beneficiary within 2–5 settlement days, if SEB has accepted the payment order before 3 p.m. on a settlement day.
An express payment reaches the beneficiary on the next settlement day at the latest, if SEB has accepted the payment order before the following time on a settlement day:
- For Danish krone and Russian rouble before 1 p.m.
- For Swedish krona, Norwegian krone and Swiss franc before 3 p.m.
- For euro, US dollar, British pound and Canadian dollar before 4.30 p.m.
Factors influencing the speed of payment
One settlement day shall be added to the settlement date of a payment, originated after the above time on a settlement day or on a weekend and holiday. In this case, it would be more favourable to choose ordinary payment instead of an urgent one and urgent payment instead of an express payment.
Besides the type of payment, the speed of routing a payment depends also on the fact whether the beneficiary’s correspondent bank is the same with that of SEB. If correspondent banks are different, the chain of routing a payment is longer.
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) and outside it.
- If the beneficiary is located in the EEA, no bank in the payment chain can deduct service fees from the amount specified in the payment order. If you originate a payment with shared costs, the payment will reach the beneficiary’s bank in full amount and you will pay the fees of SEB and the beneficiary will pay the fees of their bank.
- If a payment with shared charges is made outside the EEA, each bank in the payment chain will deduct its service fees from the amount.
A payment with shared costs is the most common type of commission fees used in the world.
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. This type of transfer can be made only if the beneficiary is located outside the EEA.
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.
Required details – name, city and country of correspondent bank and other additional data, provided by the beneficiary.
Additional information
Adding beneficiary´s address in cross-border payments
Main correspondent banks of SEB
Restrictions in executing cross-border payments
Restricted regions for cross-border payments
Instructions of making RUB payments
Search for BIC-codes
Terms of settlement
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 funds are received in our bank after 4 p.m., we shall transfer the received amount to your account on the next settlement day.
Currency conversion
The foreign currency received in your account will be converted into your account currency by using the transfer rate, applicable on the settlement day.
If you would like to receive the amount in the foreign currency, then open a current account or a currency interface of your account for the relevant foreign currency in Internet Bank or at a branch.
Requisite bank information for incoming payments
| Beneficiary Customer | Full name of beneficiary and exact address |
|---|---|
| Beneficiary’s Account / Beneficiary’s IBAN | Beneficiary’s international account number (IBAN) at SEB (calculate IBAN from SEB current account number) |
| Beneficiary’s Bank | AS SEB Pank, Tornimäe 2, 15010 Tallinn, Estonia |
| Beneficiary’s Bank SWIFT/BIC code | EEUHEE2X |
| Beneficiary’s Bank Correspondent SWIFT/BIC code | SEB’s correspondent bank corresponding to the payment currency (list of correspondent banks) |
Recurring payments can be pre-defined. Subsequently, when making a payment to the same payee the payment order shall be pre-completed already, and you will need to enter just the amount and payment text.
Predefined payments can be made in:
Predefined payments can be added in:
| Outgoing payments | At a bank office | Electronic services (incl. standing payment order, banklink payment) | ||
|---|---|---|---|---|
| 1. Internal payment (1) | ||||
|
in euros |
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. |
Market rate determined by the bank, if the payment is made on a settlement day from 9.00 to 17.00. |
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(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. The service fee for a cross-border payment has up to three different components depending on the type of payment:
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| 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 | |
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(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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