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European and internal payments

European and internal payments

Payment in euros to another Estonian bank or the European Economic Area

  • Payment in euros to another Estonian bank or the European Economic Area
  • Fast and convenient
  • Favourable price
  • Real-time payment provided that the bank of the beneficiary has joined the instant payment system
  • Express payment option
  • An internal payment will reach the beneficiary immediately

The Single Euro Payments Area (SEPA) allows payments to be made on the same terms within the entire European Economic Area (including Switzerland and Monaco). On the payment order, you must indicate the payee’s IBAN account number. As a European payment, you can make payments in euros from one European Economic Area country to another.

Which payment method to select?

  What it is suitable for Where payments can be made Where an agreement can be concluded
Internal payment For making a one-off payment if the payer and the payee have accounts at SEB. Internet Bank
Telephone bank
Branch
Sign up for an SEB Plan, and payments will be free of charge.
European payment Payments in euros to another bank in Estonia or in the European Economic Area Internet Bank
Telephone bank
Branch
Sign up for an SEB Plan, and payments will be free of charge.
European express payment If the funds must reach the payee’s account in another euro zone bank within two hours. Internet Bank
Bank office
Branch
 
Predefined payment For recurrent payments Internet Bank
Telephone bank
ATM
You can add predefined payments:
Internet Bank
Branch
Telephone Bank
Standing payment order For remitting regular payments of a fixed amount to a private person, an institution or a company.
For example, suitable also for transferring a child’s monthly pocket money.
On the agreed date, the Bank will complete the transfer on your behalf. Internet Bank
Branch
E-invoice with automated standing order For the payment of regular monthly bills.
For example, suitable for paying electricity, telephone and utilities bills.
On the agreed date, the Bank will transfer the amount indicated on the e-invoice on your behalf. Internet Bank
Branch

 

Terms of settlement

  • The payment currency is the euro.
  • The payment is marked with the beneficiary’s international bank account number (IBAN).
  • 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, or Switzerland.
  • Apart from the usual explanation, the European payment order may include additional information on the payment, the remitter, and the beneficiary.
  • Both the reference number and explanation cannot be entered on a European payment order: if the beneficiary is located outside Estonia, you can fill in the field ‘Payment explanation’ or ‘Reference number’. Estonian payment orders can include both the explanation and the reference number.
  • Interbank regular European transactions are made 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.

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:

Outgoing payments Over the counter, phone banking operator service Electronic services (incl. standing payment order, banklink payment)
1. Internal payment (8)    

in euros

EUR 2.30 (1) EUR 0.16 (2)

in foreign currency

EUR 3 EUR 2

intra-account conversion

free of charge free of charge
2. European payment (3, 8)    
     ordinary payment (incl. instant payment (10)) EUR 3.50 (1) EUR 0.38 (2)
     express payment (4) EUR 35 EUR 30
3. Cross border payment    
ordinary payment    
  with shared charges (5) EUR 10 EUR 6
  without charges to beneficiary (5,6) EUR 30 EUR 26
urgent payment    
  with shared charges (5) EUR 16 EUR 14
  without charges to beneficiary (5, 6) EUR 36 EUR 34
express payment in euros    
  with shared charges (5) EUR 35 EUR 30
  without charges to beneficiary (5, 6) EUR 55 EUR 50
express payment in foreign currency (9)    
  with shared charges (5) EUR 50 EUR 39
  without charges to beneficiary (5, 6) EUR 70 EUR 59
4. Transfer order for debiting in consolidated amount (7) - 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) For SEB 60+ Plan owners payments through phone banking operator service – EUR 0.19.
(2) With a Postipank card in ATM – EUR 0.45 .
(3) 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, Monaco.
(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 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) 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) 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.
(8) 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.
(9) Upon agreement with the Markets department.
(10) Instant payments can be made only in electronic channels – in Internet Bank (including import of payments) and SEB mobile app.

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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