Your gateway to the Nordics
Nordea is your gateway to the Nordics, giving you access to all Nordic countries through a single onboarding process.
Transaction Banking
We help you reduce operational costs through fast, flexible services, backed by a dedicated point of contact who knows your business. Benefit from our deep experience in the Nordic markets and our track record of innovation to sharpen your competitive edge.
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 a single point of contact who knows your business and is available when you need support
- Reduce your Nostro relationships and access personalised, competitive offerings across all your Nordic payment flows
- Secure settlements with a trusted liquidity provider for clearing services in DKK, NOK and SEK, reducing settlement risk and gaining operational efficiency and peace of mind across your transactions
- Gain real-time visibility into your accounts across all Nordic countries through our online banking tool
- Use our CLS Clearing Services across the three Scandinavian currencies: DKK, NOK and SEK
- Partner with the most innovative bank in the Nordics, with a proven track record in mobile and digital payments
Swift payments scheme – Nordea as Gateway Intermediary
Nordea is set to become the first Nordic bank to join the Swift payments scheme as a Gateway Intermediary – reinforcing our position as your gateway to the Nordics and our commitment to raising the bar for cross-border payments.
We will be among the first 70+ banks globally to join the initiative, which supports the G20 ambition for faster, more transparent and more predictable cross-border payments for consumers and small businesses.
As a Gateway Intermediary, we will leverage our Nordic scale to serve other financial institutions in our local markets, making it easier for your customers to send and receive cross-border payments with greater speed, transparency and predictability.
In the initial phase, we will support scheme-compliant book transfers to Denmark and Norway in line with Swift payment scheme rules, with plans to expand the scope in over time.
The Swift payments scheme establishes common rules and service levels for cross-border payments, designed to improve the payment experience for consumers and small businesses. By promoting consistent standards across participating banks, the scheme aims to reduce friction and enhance the end-to-end payment experience.
Reach out to Tomas Moberg, TxB for Banks, at tomas.moberg [at] nordea.com (tomas[dot]moberg[at]nordea[dot]com,) to find out how Nordea’s role in the Swift payments scheme can benefit your business.
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 receive:
- 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)
- camt.054 (MT900 confirmation of debit & MT910 confirmation of credit)
- camt.105 and camt.106 (Charges Payment Notification and Charges Payment Request for a single charge)
Messages we send:
- 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.
Target2 and EBA "Instruction for Next Agent" removal - Standard Release 2025
As part of the yearly ISO20022 release for 2025 – ECB and EBA E1S1 have decided to disable the tag “Instruction for Next Agent” (InstrForNxtAgt) in both pacs.008 and pacs.009
The impact to our correspondent banks is that this tag will not be used for EUR nor DKK payments going to T2 and EBA as from 24th November 2025. This is two years ahead of when CBPR+ will remove the same element and hence we would like to inform you that:
- Nordea will still be able to receive the information stated in the Instruction for Next Agent if the message is received through CBPR+ (Swift)
- As from 24th November 2025 – Nordea will no longer forward the content of this element to the next leg of your correspondent banking payment order if sent to T2 or EBA.
Hence, for any information you would like for us to forward to the beneficiary or beneficiary bank – we suggest you use the following tags’
- Instruction for Creditor agent (InstrForCdtrAgt)
- Remittance Information (RmtInf)
- Purpose code (Purp/Cd)
- Or any other tags designed to forward information previously forwarded using the MT field 72
Documents
Nordic Cash Clearing Services for banks
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Cut-off times for STP payments PDF, 664KB
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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
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Addendum to general terms and conditions PDF, 71KB
Trade Finance Bank Management
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Trade Finance - Price list for banks PDF, 2MB
Contact
Let’s continue the conversation. We look forward to exploring how we can build a partnership that makes the most of the opportunities available, today 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)