Foreign currency payment for businesses

Foreign currency payment

Incoming and outgoing foreign currency payments are processed and received on banking days. You can see your company's foreign currency payment on an account statement and in Netbank, like your other payments.

Your benefits:

Payment instruction is a fast, safe and easy payment method.
The banks will ensure that the payment reaches the payee as you have instructed.
Payment instructions can be sent and received in all exchanged currencies.
You can make the payment from an account denominated either in euros or in another currency.

Incoming foreign currency payments

With a payment instruction you get the payment quickly to your Nordea account by giving your foreign trading partner the following bank connection information:

Incoming foreign currency payments
Please instruct your bank to forward payment orders through:	Nordea Bank Abp BIC: NDEAFIHH
IBAN:	(IBAN account number in Nordea, Finland)
In favour of:	(Name and address)

The funds will be credited to the IBAN account stated in the incoming payment. Give the payer the IBAN of the account to which you want the funds to be credited. Example: if you want the funds to a USD account, give the payer the USD account number in the IBAN format.

Outgoing foreign currency payments

payments in foreign currencies to Finnish and foreign banks.
euro payments to non-European countries.
credit transfers between accounts in different currencies with Nordea Finland.

Payment instruction is an unconditional and irrevocable payment method. You can send a payment instruction electronically from your company's systems and from Netbank.

Electronic foreign currency payments

Your benefits:

It is worthwhile to transmit foreign currency payments electronically to Nordea if your company has more than five (5) foreign currency payments a month.
You can streamline the handling routines of outgoing foreign currency payments.
You save time by sending payments directly from your company’s ledger.
You get electronic feedback on the payments.
You save money in service fees.
Payment transmission is paperless.
The process is not tied to the bank’s business hours.

Nordea's Netbank and Corporate Payments Service offer excellent tools for this.

Payments with Request to Transfer service

With the Request for Transfer serviceOpens new window your company can send payment orders through Nordea to Nordea units in other countries and other foreign banks. You can also transmit payment orders through foreign banks to be debited to your account in Nordea.

The orders may concern repatriation of funds, transfers between your company’s foreign accounts or transfers to accounts of other payees in banks around the world.

Your benefits:

Make your asset management more efficient.
Make local payments in other countries.
Paperless, secure and quick way to give payment orders.
Transmit payment orders to other Nordea units for free.

You can send Requests for Transfer conveniently through Nordea’s Netbank or directly from your company’s systems.

Banks' service fees

Terms and conditions

Service descriptions

File deadlines

Standard settlement instructions

Banks' service fees

Under the payment services act, the bank may not execute payment orders which would require illegal charging of fees. The bank will not forward these payments but reject them. Our customers will receive feedback on rejected payments electronically via Netbank or through another means agreed.

Payments to the EU member states and EEA countries

Shared costs (SHA) is the only allowed means of charging fees when the payee's bank is in a EU member state or in an EEA country.

Other payments

You can send a foreign currency payment so that:

the payee will receive the payment deducted with the fees of his or her own bank (shared costs, SHA) or
the payee receives the payment in full (all costs from the payer, OUR).

Shared costs is always the most common means of charging fees and always the most inexpensive alternative. We recommend the use of "shared costs" if unless otherwise agreed.