Credit transfer

Credit transfer is an easy way to make euro payments in Finland and to European banks. Credit transfers are made in the same way irrespective of whether the payee's account bank is in Finland or abroad.

Credit transfer

Credit transfers and payments can be made in many different ways: in Netbank, at a payment ATM or with a payment software.

For a credit transfer you need the payee's account number in the IBAN (International Bank Account Number) format. A credit transfer is always transmitted at the price of a domestic payment.

Your benefits:

  • A credit transfer is transmitted to a European bank as quickly as to another domestic bank.
  • You can make the credit transfer in the same way irrespective of whether its destination is Finland or another country in Europe.
  • The pricing is the same as in domestic payments.
  • The credit transfer amount is transferred to the payee’s account in full.

In Netbank and at a payment ATM

Nordea transmits a credit transfer/payment to the payee’s bank in Finland or Europe during the same banking day or for the next banking day.

The payment is transmitted to the payee’s bank during the same banking day if the payment has been made in Netbank or at an ATM before 14.00 EET.

Please note that payments to other banks are transmitted on banking days only.

Payments made at weekends or on midweek holidays are not transmitted to other banks until the next banking day.

Credit transfers between Nordea Bank AB (publ), Finnish Branch's account customers are also entered at weekends and on midweek holidays.

Through file transfer with Corporate Payments service

The payment types include:

  • invoices
  • salaries and pensions
  • foreign currency payments
  • urgent payments

Sending payment files through:

  • Corporate Netbank or
  • Web Services and the related PKI security solution. 

Faster credit transfers enabled

Nordea has introduced faster credit transfers for all credit transfers made by Nordea’s personal and corporate customers.

As a rule, funds are now transmitted to recipients on the same banking day, if the payment has been confirmed before 14.00 Finnish time (EET). Credit transfer files sent to file transfer must be received before 13.00 Finnish time (EET).

The upgrade concerns all euro-denominated credit transfers from Nordea to another financial institution in Finland or in Europe.

Benefits for your company:

  • Improved liquidity management – payments can be made on the same day the recipient expects to obtain the funds. Fewer bank accounts are needed, as credit transfers are transmitted between banks on the same banking day.
  • Increased transparency in payments – payments made are transmitted to the recipient’s bank on the same day. Payments made over the weekend will be transmitted on the next banking day.
  • Cost savings – less need for express payments and payments with zero value date, as euro-denominated credit transfers are transmitted to the recipient on the same banking day.

Credit transfers between Nordea's customers in Finland and the payments of salaries and pensions by corporate customers will be transmitted as before.

The faster transmission of credit transfers requires no action on the customer’s part and causes no changes to the use or terms and conditions of existing services.

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