Foreign currency cheque

The difference between a bank cheque and a private cheque

A bank cheque is a cheque drawn and officially signed by a bank. In addition to the drawing bank, the paying bank is stated on the cheque. 

A private cheque is drawn by a private person or company on credit against their accounts. In such a case the cheque is signed by a private person or company (company name and signatures). A private cheque can only be cashed in if the drawer’s (account holder’s) account has sufficient cover. Private cheques are sent to a foreign bank for collection to verify they are covered by the funds in the account.

Cheque as means of payment 

  • based on an agreement between the buyer and the seller
  • risky, unsafe and old-fashioned
  • always the most expensive method of payment for the recipient
  • may lack cover and/or be outdated. 

You should not accept a cheque as payment from a person or company you do not know. As the use of cheques has decreased, frauds and forgeries have become more common. 

Crediting a cheque to an account

Nordea only accepts bank cheques and private cheques from customers that have an account with Nordea.

Cheques are accepted for collection. The funds from cheques accepted for collection are credited to the customer’s account only after a foreign bank has delivered cover for the cheque. This process may take weeks.

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ePiggy

Saving with ePiggy is easy and simple.

You can save small amounts at a time while paying with your card.

Disposal Account

An account for daily banking.

Choose Disposal Account for your salary, pension, child allowance or other recurring payments and complement it with suitable services.

Credit transfer

Credit transfer is an easy way to make euro payments in Finland and to European banks.

They can be made in many different ways: in Netbank, at a payment ATM, or as branch service.

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E-invoice

You can receive your invoices in an electronic format directly in your Netbank.

E-invoice is environmentally friendly and inexpensive; it is included in the fee for Netbank access codes.

E-payment

An electronic method of payment in which the payment is directly transferred from the buyer to the seller when paying for an online purchase.

You only need your Netbank access codes for using the e-payment service.

ePiggy

Saving with ePiggy is easy and simple.

You can save small amounts at a time while paying with your card.

Disposal Account

An account for daily banking.

Choose Disposal Account for your salary, pension, child allowance or other recurring payments and complement it with suitable services.

Payment service

Use of the payment service suits you if you do not want to use self-service options to pay your bills.

The bank will debit the bills to your account on their due dates.

SEPA direct debit

SEPA direct debit makes it possible to order and pay for services across Europe.

Use of the SEPA direct debit service requires that you have concluded a service agreement with Nordea, which is easy to make in Netbank. Give the direct debit authorisation to your invoicer.

Credit transfer

Credit transfer is an easy way to make euro payments in Finland and to European banks.

They can be made in many different ways: in Netbank, at a payment ATM, or as branch service.

Currency payments

You can pay your foreign currency payments easily with your access codes.

You get valuable benefits when you make payments in Netbank.

Foreign Currency Account

Foreign Currency Account - just like an ordinary bank account.

It is the most cost-effective way to invest abroad but remember that there are risks related to exchange rates.

E-salary

An electronic payslip which you can view through Netbank.

Ask your employer about the possibility to receive your payslip electronically, so that you will be able to start using the e-salary service.

Rental security deposit account

You can open a rental security deposit account when you are renting a flat.

Your rental security deposit account will be a PerkAccount which gives you a higher interest on your security deposit than a Disposal Account.

Advice on accounts and payments

Woman in striped shirt by computer 

Account statements delivered to your Netbank

If you have Nordea’s access codes, you can sign up for the electronic account statement and give up the paper version.

Hand turning pages 

IBAN and BIC

International Bank Account Number and Bank Identifier Code.