Your gateway to the Nordics
Nordea is your gateway to the Nordics enabling you to reach all Nordic countries at once through one onboarding process.
Transaction Banking
We provide you efficiency that reduces operational costs through fast and flexible services – supported by your dedicated point of contact. Giving you an exclusive access to improve your competitive edge through our long experience of the Nordic markets and innovations shaping the industries.
By choosing Nordea as your ‘gateway to the Nordics’ you will be able to…
- Consolidate your cash and payments and benefit from scale, liquidity efficiency and optimisation of your daily business
- Access to one point of contact that knows your business and needs – whenever you need our support.
- Reduce your Nostro relationships and gain personalised and competitive offerings for all your Nordic payment flows
- Secure settlements with a trusted liquidity provider for clearing services in DKK, NOK & SEK. Diminish settlement risk and enjoy increased operational efficiency and peace of mind for your transactions
- Increase visibility into your accounts via our online tool that gives you real time access to your accounts across the different countries
- Use our CLS Clearing Services on the three Scandinavian currencies, DKK, NOK & SEK.
- Partner with the most innovative bank in the Nordics in the areas of mobile and digital payments.
ISO 20022 - A new format standard for cross- border payments
As of May 2025, Nordea supports ISO 20022 (MX) for all incoming and outgoing cross-border payment messages across all markets. ISO 20022 replaces the older MT message format and enables richer, more structured payment data, improving the quality and transparency of international transactions. Nordea follows the industry standards set by TARGET2 (T2), EURO1/STEP1 (EBA), NBO, RIX and SWIFT CBPR+.
Messages we received:
- pacs.008 (MT103) (Customer Credit Transfer)
- pacs.009 (MT202/202cov) (FI to FI Credit Transfer)
- pacs.004 (MT103/202 RETN) (payment return message)
- camt.029 (MTn96 – applicable only as a response to cancellation request) (resolution of investigation)
- camt.053 (MT950 for T2, NBO and RIX, MT970 for EBA) (End of day account report)
- camt.056 (FI to FI Payment cancellation request)
- pacs.002 positive & negative response
- (negative: MT019 for T2/EBA, NBO and RIX, MTn99 REJT for CBPR+; positive: MT012 for T2/EBA, NBO and RIX)
Messages we sent:
- Pacs008 (MT103)
- Pacs.009 (MT202/202cov)
- Pacs.004 (MT103/202 RETN)
Nordea follows the standard guidelines from T2, EBA E1S1, NBO, RIX and CBPR+ for these messages.
While the ISO 20022 standard is now fully adopted for payment instruction messages, Nordea continues to support both MX and MT messages where necessary during the global coexistence period. To ensure data quality, we encourage a “like-for-like” approach, avoiding unnecessary data loss in mixed-format environments.
Documents
Nordic Cash Clearing Services for banks
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Cut-off times for STP payments PDF, 637KB
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Price list for Account Holding Banks PDF, 2MB
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Nordea-STP-Guide-for-ISO-20022-MX-Messages PDF, 555KB
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General Terms and Conditions PDF, 178KB
Trade Finance Bank Management
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Trade Finance - Price list for banks PDF, 2MB
Contact
Let’s continue the conversation! We are looking forward to discussing how we can develop a partnership with you that makes the most of the exciting opportunities available both now and in the future.
Nordic cash clearing for banks
txb.banks.cash [at] nordea.com (txb[dot]banks[dot]cash[at]nordea[dot]com)
Trade Finance bank management
tfbankmanagement [at] nordea.com (tfbankmanagement[at]nordea[dot]com)