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European and internal payment

European and internal payment

Make a European payment in the Internet Bank for Business

  • Payment in euros to another Estonian bank or the European Economic Area
  • Fast and convenient
  • Internal payment is immediately received in the beneficiary’s account
  • Favourable
  • Express payment option

The Single Euro Payments Area (SEPA) allows you to make payments on the same conditions within the entire European Economic Area (plus in Switzerland and Monaco).

  • The payment currency is the euro.
  • The beneficiary’s international bank account number (IBAN) is indicated on the payment.
  • The service charge type shall be shared charges.
  • If the amount of the payment is up to 15,000 euros and the bank of the beneficiary has joined the instant payment system, we will automatically make an instant payment. The client does not need to do anything. An instant payment is usually transferred in seconds. If it is not possible to make an instant payment, we will make the payment as an SEPA payment.
  • An SEPA payment usually reaches the bank of the beneficiary on the same settlement day when the payment is forwarded to the bank before 4.30 pm. Depending on the bank of the beneficiary, the payment may reach the beneficiary’s account on the following settlement day.
  • The bank of the beneficiary is located in a Member State of the European Union (Austria, Belgium, Bulgaria, Croatia, Cyprus, the Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, the United Kingdom), Norway, Iceland, Liechtenstein, Monaco, San Marino, Andorra or Switzerland.
  • Apart from the usual payment description, the European payment order may include additional information on the payment, remitter, and beneficiary.
  • Normally, it is not possible to enter on the European payment order both, the reference number and description: if the beneficiary is located outside Estonia, you can only fill in the field “Payment description”. As an exception, you can enter on a domestic payment both, the description as well as reference number.
  • Interbank payments are settled five times a day: at 8 a.m., 10 a.m., 12.30 p.m., 3 p.m., and 5 p.m.

Internal payment

In general, an internal payment will reach the beneficiary’s account immediately, but no later than within an hour.

If the payment reaches the bank after 10 p.m., it will be transferred to the beneficiary’s account within an hour, but the bank may indicate such payments on the account statement as transactions made on the following day.

European express payment

European express payments can be made in euros and only to the countries of the euro area (Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain).

A European express payment reaches the bank of the beneficiary on the same settlement day if the payment is forwarded to the bank before 5.45 p.m. The payment is settled via the real-time settlement system Target 2, under the rules of which the bank of the beneficiary transfers the received amount to the beneficiary’s account no later than within two hours after the arrival of the payment order at the bank of the beneficiary.

European express payments initiated after 5 p.m. are possibly not transferred to the beneficiary’s account on the same day, depending on the rules of the bank of the beneficiary.

Staggering of commission fees

If you would like us to debit the commission fee for the transactions carried out during a day in one payment at the end of the day or beginning of the next calendar day, then we offer you a possibility of staggering your commission fees, by concluding a respective contract in Internet Bank for Business. Within the contract of staggering and directing commission fees, you can determine the current account, from which the bank will start debiting commission fees in the future.

Read more about staggering of commission fees

Most likely, you execute majority of payments month-by-month to the same beneficiaries. We shall conclude such regular payments automatically on your behalf under direct and standing payment orders. You just need to have a respective sum available in your company’s account on the proper date.

An European express payment shall be a payment in euros that can be made to Euro zone countries only (that is, countries with the euro as the domestic currency).

An European express payment shall reach the payee’s bank on the same settlement date if the payment is remitted to the bank by 17:45. The payment shall be settled via the real-time settlement system Target 2, under the rules of which the payee's bank shall transfer the funds received into the payee’s account no later than within two hours of the arrival of the payment instructions at the payee's bank.

Euro zone countries:

Austria, Belgium, Estonia, Spain, Netherlands, Ireland, Italy, Greece, Cyprus, Luxembourg, Latvia, Malta, Poland, Portugal, France, Germany, Slovakia, Slovenia, Finland.

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:

Terms and conditions of settlement

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.

 

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