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Cross-border payment
Payment in foreign currency or outside European Economic Area
- 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.
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 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:
- 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
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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
- Urgent payment
- Express payment
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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.
- 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.
Adding beneficiary´s address in cross-border payments
Main correspondent banks of SEB
Restrictions in executing cross-border payments
Cross-border payments to banks in the United Arab Emirates
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
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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