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 EUR, 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 or benefit from our CLS third party premium offering.
  • Support your corporates in doing business in the Nordics through Nordea’s Corporate referral programme
  • Partner with the most innovative bank in the Nordics in the areas of mobile and digital payments, Open Banking and blockchain

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Cash and trade - we support all your bank's needs

ISO 20022​ - A new format standard for cross-​ border payments ​

A new format standard for cross-border payments called ISO20022 (MX) will be introduced on 21 November 2022. Most of the major market infrastructures in the world will be migrated to the new standard as the current MT standard, used since the 1980’s, is becoming outdated. 

The initiative is driven by European Central Bank (T2), EBA Euro1Step1 and SWIFT globally whom have decided to do the migration to the new format from the same date . The aim is to deliver an updated common language and model for exchanging payments data across the globe and to provide richer and more structured data than in the current messaging standard (MT), for example about the payer and the payee. 
For payments that are settled via the market infrastructures T2 and EBA E1S1, Nordea will be ready to both receive and send messages in the new format from 21 November 2022. For outbound payments to our correspondent banks, Nordea will continue to send MT messages in the coexistence period.

The new MX format replaces the established MT1xx, MT2xx and MT9xx series messages. For Nordea this means that we will be able to receive the following messages from T2, EBAE1S1 and financial institutions as from 21 November 2022: ​

Messages - received​:

  • pacs.008 (MT103)​
  • pacs.009 (MT202/202cov)​
  • pacs.004 (MT103/202 RETN)​
  • camt.029 (MTn96 – applicable only as response to cancellation request)​
  • camt.056 (MTn92)​
  • camt.052 (MT942 for CBPR+)​
  • camt.053 (MT950 for T2, MT970 for EBA. MT940 for CBPR+)​
  • camt.054 (MT900/910)​
  • pacs.002 positive & negative​
  • (negative: MT019 for T2/EBA, MTn99 REJT for CBPR+; positive: MT012 for T2/EBA)

Messages - sent: 

From 21 November 2022 Nordea will start to send the following messages to T2 and EBA E1S1:​

  • Pacs008 (MT103)​
  • Pacs.009 (MT202/202cov)​
  • Pacs.004 (MT103/202 RETN)​


Nordea follows the standard guidelines from T2, EBA E1S1 and CBPR+ for the messages listed above.​

For outbound payments to our correspondent banks, Nordea will continue to send MT messages in the coexistence period.​

For the Nordic markets (NOK, SEK and DKK) we do not support rich data until local central banks (MI’s) are migrated to MX. The “like-for-like” approach is encouraged to reduce the risk of loosing information.​



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 [at]

Trade Finance bank management

tfbankmanagement [at]