Currency payments

Cross-border credit transfer refers to a foreign currency denominated credit transfer or a non-SEPA credit transfer. Payments made with access codes are single payments and the beneficiary is required to have an account with a foreign or Finnish bank. Once you have filled in the payment template, check, accept and confirm the payment.

Your benefits:

  • You do not need to fill in a separate order form anymore and return it to a branch.
  • You can use an account denominated either in euros or in another currency for the payment.
  • You have two alternative payment types: ordinary or urgent payment.

Adding the currency payment function

Currency payments are an additional service that is available in Nordea Mobile and Netbank only to those who have activated it.

  • If you would like to make a currency payment but the function is unavailable in your Nordea Mobile and Netbank, you can call us to request its activation. Once it has been activated, you will see it in Nordea Mobile and Netbank the next time you log in again.
  • If you don’t need the currency payment function, you can ask for it to be removed from your Nordea Mobile and Netbank by calling us. This helps you protect yourself against scammers who could try to transfer cash outside the eurozone from your account. However, regardless of whether you have activated currency payments or not, transfers can be made in euros from your account to other eurozone countries. 

What’s the difference between a currency payment and a SEPA payment?

A currency payment is a payment in euros sent outside Europe or a payment in a foreign currency sent to a Finnish or foreign bank. For example, if you transfer cash in euros to a bank outside the EU, your transfer will be a currency payment and its amount will be converted into the local currency of the destination country. Similarly, if you transfer money in US dollars to another Finnish bank, it’s considered a currency payment.

SEPA credit transfers are used to transfer cash in euros to another eurozone country. SEPA is an abbreviation of the words Single Euro Payments Area. In addition to the EU and EEA countries, SEPA includes Switzerland and Monaco. So, for instance, if you want to transfer cash to another account in Spain, you will do it with a SEPA payment.

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 the payments but rejects them. Our customers will receive feedback on rejected payments electronically via Netbank or in some manner 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 and the most inexpensive alternative of charging fees. We recommend the use of "shared costs" if not agreed otherwise.

Routing of incoming payments to Nordea

With a payment instruction you get the payment quickly to your Nordea account by instructing your foreign trading partner of your bank connection information as follows: 

Routing of incoming payments to Nordea
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 on the incoming payment. Give the payer the IBAN of the account to which you want the funds to be credited; if you want the funds to a USD account, give the USD account number in the IBAN format.

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