Credit transfer

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.

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).

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.