IBAN account number mandatory in all payments

Online channels and ATMs Information to invoicers FAQ Online channels and ATMs

Changes to entering payments in online channels and at payment ATMs

The account number must be entered in the IBAN format in all payments.

The national account number cannot be used in payments anymore, as the only format accepted in payment transmission is the IBAN.

The change entered into force in October 2014 in Nordea's netbanking services, in Mobile Bank and at payment ATMs.

You can make bill payment as smooth as possible by learning to use the IBAN.

Information to invoicers

Invoicer: use IBAN in all invoices

It will no longer be possible to use the national account number in payments, as payment transmission only accepts the IBAN format with 18 characters (example: FI21 1234 5600 0007 85).

Legislation requires that payment transmission between banks functions as required by the euro area.

In order to simplify invoice payment for your customers, ensure that your invoice includes your company's account number only in the IBAN format. Also remember to update the bar code in the credit transfer form.

FAQ

Question:
Why will it only be possible to enter the account number in the IBAN format? Why is this change made?

Answer:
The change is part of the implementation of the Single Euro Payments Area (SEPA). A regulation by the European Commission obliges all banks to use the IBAN only in payment transmission.

The automatic conversion from the national format into the IBAN format, which has been used in Nordea's self-service channels, ended in October 2014.


Question:
Who will be affected by the change?

Answer:
The change will affect bill payers who use the self-service channels for bill payment. These channels include personal customer's Netbank, Mobile Bank, Corporate Netbank, Corporate Classic Netbank and payment ATMs.

The change will mean that the payer will need to enter the payee's account number in the above-mentioned channels in the IBAN format.

Invoicers will also have to ensure that they only have their account number in the IBAN format in their invoice templates.


Question:
Where can I find the payee's account number in the IBAN format?

Answer:
Payee's account is with Nordea:

  • Ask the payee for the IBAN.
  • Use the calculator on Nordea's website: nordea.fi

Payee's account is with another Finnish bank:

  • Ask the payee for the IBAN.
  • Use a calculator on the payee's bank's website, if available.

Payee's account is with a bank operating elsewhere in the euro area:

  • Ask the payee for the IBAN.
Products in focus All products Products in focus

Corporate Current Account

Corporate Current Account is a payment account suitable for large and medium-sized enterprises.

The account can be complemented with all the necessary services for managing everyday payment services.

Foreign Currency Account

You need a Foreign Currency Account for taking care of payments outside the Eurozone.

It is a simple way to pay invoices in foreign currencies. You can also use your account for currency position management.

All products

Corporate Disposal Account

An account for small and medium-sized enterprises.

A flexible payment account to which you can link all payment services.

Corporate Current Account

Corporate Current Account is a payment account suitable for large and medium-sized enterprises.

The account can be complemented with all the necessary services for managing everyday payment services.

Foreign Currency Account

You need a Foreign Currency Account for taking care of payments outside the Eurozone.

It is a simple way to pay invoices in foreign currencies. You can also use your account for currency position management.

Cash management

Liquidity management aims to guarantee your company's ability to meet its payment obligations.

An important element is efficient cash management.

Balance statement

Retrieving a balance statement is easy to do in Netbank or file transfer.

The balance statement shows the balances and transferred interests of accounts and credit accounts on the last day of the month.

Advice on accounts and monitoring of transactions

Hand turning pages 

IBAN and BIC

International Bank Account Number and Bank Identifier Code.

Woman by computer 

Opening an account

Opening a bank account for your business is easy when you have the required documents with you in Finnish, Swedish or English.