Open website’s mobile version Top

Business

Cross-border payment

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 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:

  • 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.

Read more

1. Choose the type of payment

The speed and commission fee of payment depend on it.

Ordinary payment

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.

Urgent payment

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.

Express payment

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 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.

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

Main correspondent banks of SEB
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 Over the counter 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.
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 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 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.

 

Contact

S|E|B

Tähelepanu! Teie veebilehtiseja ei vasta SEB kodulehe külastamiseks vajalikele nõuetele. Palun vahetage veebilehitsejat või seadet, millega te veebilehte sirvite.

Attention! Your web browser does not correspond to the requirements needed to visit SEB website. Please change web browser or device that you use for browsing the site.

Внимание! Ваш браузер не отвечает требованиям, необходимым для посещения сайта SEB. Просим поменять браузер или устройство, при помощи которого вы производите поиск в браузере.