Payment services

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Payments are a vital part of a company's activities with its customers and suppliers and the rapidly changing business environment calls for new methods of payment. By choosing us as your cash management partner, you will benefit from faster and efficient cross-border payments. You will also get access to a wide range of domestic and international payment services well adapted to your way of doing business, now as well as in the future.

Nordea Intercompany Payment

The Nordea Intercompany Payment is a cross-border payment between companies belonging to the same group and holding accounts with Nordea. The payment is unique as it enables you to move funds in Nordea currencies between your own accounts across borders with same day value. Funds in Nordea currencies are transferred with same day value if the payment order is received by the account-holding Nordea unit not later than at 15.30 CET. Benefits include improved liquidity management, fund transfers without loss of value days, convenient delivery times and funds available on the same business day.

Nordea Payment

The Nordea Payment is a fast cross-border payment between two companies holding accounts with Nordea. The Nordea Payment is unique as it enables you to transfer funds in Nordea currencies and make them available to the beneficiary's account the next business day, that is two, three or even more days earlier than an ordinary cross-border payment. You can make transfers with or without currency conversion. In order to secure correct value dating the local reporting time for making the Nordea payment should be observed. Benefits of Nordea Payment include improved liquidity management, funds are available on the next business day and fast payment for the price of an ordinary payment.

Request for Transfer

Request for Transfer is an instruction sent via the electronic banking system of the domestic bank to debit an account held with another bank. The request may include payment instructions, such as Intercompany payments, third party domestic or cross-border payments.

With Request for Transfer you can control your payments centrally. Via your own electronic banking system the solution offers one point of contact and simple access to all your accounts held abroad. Benefits include efficient liquidity management, a single delivery system, improved operating efficiency, cost-effective payment structure, optimised payment administration and late cut-off times and same day value.

Request for Transfer details

RfT payment types Product details Payment requirements RfT payment types

RfT payment types

When you choose Request for Transfer as a transaction method you have the following possibilities:

Domestic payments: You have the possibility to choose a domestic payment when the remitter's (sender of the payment) account is in the same country as the beneficiary's (receiver of the payment).

Cross-border payments within Nordea: You have the possibility to choose a cross-border payment within Nordea when the beneficiary has an account in another Nordea country.

Cross-border payments outside Nordea: You have the possibility to choose a cross-border payment outside Nordea when the beneficiary has an account in another country and in another bank than Nordea.

More information on cut-off times.

Denmark

Domestic payments
Payment types	Comments	Pricing
Transfer between own accounts in Nordea Denmark	Instruction code: INTC is required.	Free
Transfer of 3rd party within Nordea Denmark	Instruction code: OTHR/DMST is required.	DKK 2.50
Transfer to other Danish banks with advice	Instruction code: OTHR/DMST is required.	DKK 2.50
Salary transfer with advice	Instruction code: OTHR/DMST is required. Transfer within Nordea Denmark or other Danish banks.	DKK 2.50
Domestic urgent payment to other Danish banks	Instruction code: URGP is required. DKK only	DKK 300
Domestic intercompany payment to other Danish banks	Instruction code: INTC is required. DKK	DKK 200
Domestic intercompany payment to other Danish banks	EUR, USD, GBP, CAD	DKK 200
Financial payment	Instruction code: CORT is required. DKK	DKK 200
	GBP
	USD, EUR To be used only when the beneficiary is a bank. Also available as a cross-border payment.

Cross-border payments within Nordea

Payment types

Comments

Pricing

Nordea Intercompany Payment in EUR and USD

Instruction code: INTC is required.

DKK 60

Nordea Intercompany Payment in other Nordea currencies

Instruction code: INTC is required.

Nordea currencies (1)

DKK 60

(1) Nordea currencies: DKK, EUR, GBP, NOK, SEK, SGD and USD

Cross-border payments outside Nordea
Payment types	Comments	Price
Ordinary payment (Transfer to the remitter's account outside the Nordea Group or other beneficiary)	Instruction code: OTHR/Ordinary is required. Standard cross-border payment.	DKK 40(2)
Intercompany payment cross-border	Instruction code: INTC is required.	DKK 200
	HUF, PLN, RUB, TRY
	CZK
	DKK
	NOK
	AED, AUD, HKD, HRK, ILS, ISK, KWD, NZD, RON, SAR, SGD, ZAR
	CAD, GBP, SEK
	CHF, JPY, MXN, RSD
	EUR, USD
	Other currencies
Urgent payment (Transfer to the remitter's account outside the Nordea Group or other beneficiary)	Instruction code: URGP is required.	DKK 300
	HUF, PLN, RUB, TRY
	CZK
	DKK
	NOK
	AED, AUD, HKD, HRK, ILS, ISK, KWD, NZD, RON, SAR, SGD, ZAR
	CAD, GBP, SEK
	CHF, JPY, MXN, RSD
	EUR, USD
	Other currencies

Finland

Domestic payments
Payment type	Comments	Pricing
Ordinary Payment	No instruction code required. From 1 February 2009 covers also payments to another financial institution within the Single Euro Payments Area (SEPA) (1)	N/A*
Urgent Payment	Instruction code: URGP is required.	N/A*
Intercompany Payment within Nordea, Finland	Instruction code: INTC is required.	N/A*
(1) The content of the payment order conforms to the regulations of the Single Euro Payments Area (SEPA)
*Not applicable

Cross-border payments within Nordea
Payment type	Comments	Pricing
Nordea payment	No instruction code required. If the content of the payment order conforms with the regulations of the Single Euro Payments Area (SEPA), cut-off according to Domestic/Ordinary payment	N/A*
Nordea Intercompany Payment	Instruction code: INTC is required. Nordea currencies (2)	N/A*
(2) Nordea currencies: DKK, EUR, GBP, NOK, RUB, SEK, SGD and USD
*Not applicable

Cross-border payments outside Nordea
Payment type	Comments	Pricing
Ordinary Payment	No instruction code required. If the content of the payment order conforms with the regulations of the Single Euro Payments Area (SEPA), cut-off according to Domestic/Ordinary payment	N/A*
Urgent Payment	Instruction code: URGP is required. AUD, CAD, CHF, CZK, DKK, EEK, EUR, GBP, HKD, ISK, JPY, NOK, NZD, PLN, RUB, SEK, SGD, SKK, USD, ZAR Other currencies subject to separate agreement	N/A*
Intercompany Payments (3)	Instruction code: INTC is required.	N/A*
	PLN
	CZK
	DKK
	NOK
	CAD, GBP, SEK
	EUR, USD
	AED, AUD, CYP, HKD, HKD, HRK, HUF, ILS, ISK, KWD, MXN, NZD, RUB, SAR, SGD, SIT, SKK, THB, TRY, ZAR
	CHF, JPY
	Other currencies
(3) Agreement needed
*Not applicable

Norway

Domestic payments
Payment type	Comments	Pricing
Ordinary payment with KID (Customer Identification Code)	No instruction code required. Account number mandatory. KID number as follows: /KID/xxxxxxxx.	NOK 30
Ordinary payment with advice	No instruction code required. Account number mandatory. KID number as follows: /KID/xxxxxxxx.	NOK 30
Urgent payment	Instruction code: URGP is required. SWIFT address of beneficiary bank is mandatory. See price list for further information.	NOK 45
Intercompany payment within Nordea Norway (1)	No instruction codes if payment is between own accounts with same company number. Instruction code: INCT for payments between accounts registrered in Beneficiary Register according to agreement.	NOK 0
Financial payments	Instruction code: CORT is required. SWIFT address of beneficiary is mandatory.	NOK 45
(1) Agreement needed if the accounts do not belong to same company number.

Cross-border payments within Nordea
Payment type	Comments	Pricing
Nordea Ordinary Payment - without currency exchange - with currency exchange	No instruction code required.	NOK 60
	Nordea currencies (2)
	Other currencies
	Nordea currencies (2)
	Other countries
Nordea Urgent Payment	Instruction code: URGP is required.	NOK 350
	EUR, USD
	GBP, CAD, SEK
	NOK
	DKK
	CZK
	LTL, LVL, PLN, HUF, TRY
	Other currencies subject to separate agreement.
Nordea Intercompany Payment (3)	Instruction code: INTC is required.	NOK 70
	EUR, USD
	Nordea currencies (2)
(2) Nordea currencies: DKK, EUR, GBP, NOK, SEK, SGD and USD
(3) Agreement needed

Cross-border payments outside Nordea
Payment type	Comments	Pricing
Ordinary payment - without currency exchange - with currency exchange	No instruction code required.	NOK 60
	EUR, USD, GBP, NOK
	Other currencies
	All currencies
Urgent payment	Instruction code: URGP is required.	NOK 350
	EUR, USD
	GBP, CAD, SEK
	NOK
	DKK
	CZK
	PLN, HUF, TRY
	Other currencies subject to separate agreement.
Intercompany payment (3)	Instruction code: INTC is required. Same cut-off and value date as Urgent Payments. Only Instruction Code differs.	NOK 200
Financial payment	Instruction code: CORT is required.	NOK 300
	EUR, USD
	GBP, CAD, SEK
	NOK
	DKK
	CZK
	PLN, HUF, TRY
	Other currencies subject to separate agreement.
(3) Agreement needed

Sweden

Domestic payments
Payment type	Comments	Pricing
Payment in favour of bankgiro number (7-8 digits).	Instruction code: OTHR/BANKGIRO is required. SEK only	SEK 5
Payment in favour of PlusGiro account (2-8 digits)	No instruction code required. OCR payments 11:00 CET	SEK 5
Payment in favour of a Swedish account	No instruction code recuired.	SEK 5
Intercompany payment within Nordea Bank Sweden	Instruction code: INTC is required.	Free

Cross-border payments within Nordea
Payment type	Comments	Pricing
Nordea Payment	No instruction code required. Ordinary payment within Nordea in Nordea currencies: DKK, EUR, GBP, NOK, SEK, SGD and USD	SEK 50
Nordea Intercompany Payment	Instruction code: INTC is required.	SEK 70
	Nordea currencies: DKK, EUR, GBP, NOK, and SEK
	SGD (1 day before)
	EUR, USD
(1) Cut-off time is applicable to straight-through payments

Cross-border payments outside Nordea
Payment type	Comments	Pricing
Ordinary	No instruction code required. All currencies	SEK 50
Urgent	Instruction code: URGP is required.	SEK 330
	EUR, USD
	CAD, GBP, SEK
	NOK
	DKK
	CZK
	HUF, PLN, TRY, RUB (no split and ccy exchange) CHF, JPY, MXN
	AED, AUD, HKD, HRK, ILS, KWD, NZD, SAR
	SGD (no split and ccy exchange), ZAR
	Other currencies
EU Payment	No instruction code required. Payment within EU in SEK or EUR containing IBAN and correct BIC code/SWIFT address. The amount may not exceed SEK 500,000 or EUR 50,000	SEK 1.60
Same-day-value and intercompany outside Nordea	Instruction code: INTC for intercompany payments, CORT for financial payments.	SEK 240
	EUR, USD
	CAD, GBP, SEK
	NOK
	DKK
	CZK, PLN
	HUF, TRY, RUB (no split and ccy exchange) CHF, JPY, MXN
	AED, AUD, HKD, HRK, ILS, KWD, NZD, SAR
	SGD (no split and ccy exchange), ZAR
	Other currencies
(1) Cut-off time is applicable to straight-through payments

Product details

Cover control routines

For Denmark, Norway and Sweden financial payments will be rejected after cut-off, latest at the end of the day. Ordinary payments may be rolled for three days (executing day + 2 days). This does not apply for Finland where all payments with insufficient cover will be rejected until the next banking day. It is at the Customer Responsible Unit's full discretion to reject a payment earlier than the above stated.

Banking/national holidays

The following will apply if your payment is received on a banking/national holiday or after cut-off time.

Denmark: If we receive a MT101, where the cut-off time has been exceeded or on a banking/national holiday, the payment instruction will be rejected and a new one will have to be made. If a MT101 is received with an execution day in the future, the payment instruction will be stored until execution day and then processed.

Finland: If we receive a MT101 on a banking/national holiday, the payment instruction will be executed on the following banking day with that day’s value.

Norway: If we receive a MT101 on a banking/national holiday, the payment instruction will be executed on the following banking day with that day’s value.

Sweden: If we receive a MT101 on a banking/national holiday, the payment instruction will be executed on the following banking day with that day’s value. Please note that MT101s with instruction codes CORT (financial payment) or RTGS (urgent payment) will be rejected.

Fee for non-straight-through processing

For payment instructions that do not meet the Payment requirements for straight-through processing an additional fee will be charged.

The charges are as follows:
Denmark: DKK 150
Finland: Please contact your Cash Management Adviser for a price
Norway: NOK 120
Sweden: SEK 90

Rejection handling

Rejection handling is automated for the overall majority of transactions. Rejection procedure is being adhered to.

Payment requirements

When you order a Request for Transfer, certain payment information is required. Nordea uses the SWIFT standard messages for FIN MT101 (Request for Transfer). If the required information is missing, the payment may be rejected.

In order to see the payment requirements in the different countries, please click the tabs below.

STP requirements (DK)

Instruction code (Field 23E)
The instruction code must be included when required. You will find the different instruction code in RfT payment types. If we receive a MT101 with no code in field 23E we will make either standard domestic or standard cross border payments. Other conditions must be correct. Only option 57A is allowed.

Debit account (Field 50H)
Debit account should be in Danish bank account format (minimum 14 digits) or IBAN - International Bank Account Number (18 digits).
For example BBAN format: 21410141123456.
The same in IBAN format: DK8320000141123456.

Account with Institution (Field 57A)
Use the BIC code/SWIFT address to indicate the beneficiary’s bank. BIC code /SWIFT address is preferred for most domestic payments. For Instructions with codeword URGP, CORT, and INTC - BIC Address is required. In case we send a MT103 to the receiving bank BIC address is required. For cross-border payments correct BIC code / SWIFT address must be present.

Beneficiary's account (Field 59)
Beneficiary’s account number, name, and address. Account numbers in all Danish banks are minimum 14 digits or IBAN (18 digits). IBAN (International Bank Account Number) is mandatory on cross border Payments within EU, EEA countries and Switzerland.

Remittance information (Field 70)
Details of the individual transaction to be transmitted to the beneficiary. If a FIK/Giro payment is ordered, Information in Field 70 has to be: /FIK/01 + giro number or /FIK/ 04, 71, 73, 75 + OCR line and creditor number.

Details of charges (Field 71A)
SHA is preferred. If the payment is to a PSD country. SHA is the only option accepted for domestic payments.

Regulatory Reporting (Field 77B)
Specifies codes for statutory and/or regulatory information required by the Central Bank. Nordea DK does not react upon codes from a MT101.

STP requirements (FI)

Instruction code (Field 23 E)
The instruction code must be included when required. You will find the different instruction code in RfT payment types

Debit account (Field 50H)
Debit account should be an IBAN - International Bank Account Number (18 digits).IBAN format: FI2112345600000785.

Account With Institution (Field 57A)
This field is used to indicate the beneficiary bank. Use the BIC code option 57A or national clearing code to indicate the beneficiary's bank. This ensures straight through processing and optimal routing of the payment. BIC code is recommended but not mandatory for payments to another financial institution within the Single Euro Payments Area (SEPA), including Finland. If the BIC of the beneficiary's bank is not given, Nordea will derive it from a valid IBAN.

Beneficiary's account (Field 59)
IBAN (International Bank Account Number) is mandatory for all EUR payments to EU and EEA countries in addition to Switzerland. For example: FI2112345600000785 - IBAN format.

Reference payments (Field 70)
Valid domestic reference number should be given in the first line of the Remittance Information (Field 70) pre-ceded with code either /RFB/ or /REF/. Only the reference number will be forwarded to beneficiary. For example: /RFB/12 34561.

Details of charges (71A)
SHA is preferred, but we accept OUR with certain exceptions. For SEPA payments SHA is mandatory.

STP requirements (NO)

Instruction code (Field 23E)

The instruction code must be included when required. You will find the different instruction code in RfT payment types.

Debit account (Field 50H)
Debit account should be in the Norwegian bank account format (11 digits BBAN) or International Bank Account Number IBAN (15 digits). For example BBAN format: 60055678910. The same in IBAN format: NO9960055678910

Account with Institution (Field 57A)
Use the BIC code/SWIFT address to indicate the beneficiary's bank. From 1 January 2007 use of BIC code/SWIFT address is mandatory for all EUR payments within EU, to EEA countries and to Switzerland.

Domestic payments: SWIFT address allowed for transactions via the domestic clearing. If SWIFT address and instruction code "URGP" are filled in, domestic transactions will be sent via SWIFT to the beneficiary’s bank if other than NDEANOKK. Name and address of beneficiary's bank are also allowed, but not mandatory if beneficiary's account number is given in Field 59.

Beneficiary's account (Field 59)
Beneficiary's account number, name and address. International Bank Account Number (IBAN) is mandatory for all EUR payments within EU, to EEA countries and to Switzerland.

Remittance information (Field 70)
Details of the individual transaction to be transmitted to the beneficiary. If details specify a Norwegian Customer Identification Code (KID), the field must state: /KID/xxxxxxxxxxxx.

If KID is correct, it will follow the transaction through the domestic clearing. If not, the KID will be deleted before the transaction is sent through the domestic clearing system. Please observe that some domestic payments require a Customer Identification Code. Mandatory for tax payments.

STP requirements (SE)

Instruction code (Field 23E)
The instruction code must be included when required. You will find the different instruction code in RfT payment types.

Debit account (Field 50H)
IBAN or BBAN and currency code is accepted when the debit account is in Nordea Bank Sweden. We prefer IBAN format.

Beneficiary's Bank
Use the BIC code and when requested the national clearing code to indicate the beneficiary's bank. This ensures straight through processing and optimal routing of the payment. For example: 57A: NDEASESSXXX, MIDLGB22 or 57: //SC402327

Beneficiary's account
IBAN number is required for payments initiated via MT101 to EU, to EEA countries and to Switzerland (incl. Sweden). For example: SE8830000000030011012345

Exception: There is no IBAN format for Swedish bankgiro numbers. Bankgiro number always contains always contain 7 or 8 digits formatted as: xxx-xxxx or xxxx-xxxx. SWIFT address should be stated as BGABSESS.

Remittance information
If payment is made to a bankgiro number or a PlusGiro account remittance information may contain 140 characters. Some PlusGiro accounts can only receive remittance information in OCR format. OCR is short for Optical Character Recognition, which allows the beneficiary automatic reconciliation. The OCR is usually between 8 and 30 digits.

The following banks have BBAN account numbers containing 4 character clearing codes and 7 character account numbers:
Bank	Clearing code
Nordea Bank Sweden	1100-1199 NDEASESS
Danske Bank (Östgöta Enskilda Bank)	1200-1399 DABASESX
Nordea Bank Sweden	1400-1448 NDEASESS
Nordea Bank Sweden	1449-1999 NDEASESS
Nordea Bank Sweden	2000-2099 NDEASESS
Kaupthing Bank Sverige AB	2300-2399 JPBKSESS
Nordea Bank Sweden (excl personkonto)	3000-3399 NDEASESS
Länsförsäkringar WASA Bank Aktiebolag	3400-3409 ELLFSESS
Nordea Bank Sweden	3410-3999 NDEASESS
Nordea Bank Sweden	4000-4999 NDEASESS
S.E.B.	5000-5999 ESSESESS
FöreningsSparbanken	7000-7999 SWEDSESS
Länsförsäkringar WASA Bank Aktiebolag	9020-9029 ELLFSESS
Okobanken	9030-9039 OKOYSESX
Citibanken International Plc, Sweden Branch	9040-9049 CITISESX
FöreningsSparbanken (former HSB Bank)	9050-9059 no BIC code
Länsförsäkringar WASA Bank Aktiebolag	9060-9069 ELLFSESS
Banque Indosuez Stockholm Branch	9080-9089 BSUISESS
ABN AMRO BANK (Sweden)	9090-9099 ABNASESS
Midland Bank Plc, Stockholm Branch	9110-9119 MIDLSESX
S.E.B.	9130-9149 ESSESESS
Dresdner Bank AG Stockholm Branch	9125-9129 DRESSESX
S.E.B.	9130-9149 ESSESESS
SkandiaBanken	9150-9169 SKIASESS
IKANO Banken	9170-9179 ?
DnB NOR Bank ASA, filial Sverige	9190-9199 DNBASESX
Stadshypotek Bank	9200-9209 via HANDSESS
Bank 2 Bankaktiebolag	9230-9239 no BIC code
SBAB	9250-9259 ?
DnB NOR Bank ASA, filial Sverige	9260-9269 ?
ICA Banken AB	9270-9279 ?
Resurs Bank	9280-9289 ?
Forex Bank	9400-9449 ?
Sampo Bank Abp Finland, filial Stockholm	9450-9459 ?
GE Money Bank	9460-9469

The clearing number is not included in the following account numbers:
Bank	Clearing code
Nordea personkonto	3300
Handelsbanken	6xxx
FöreningsSparbanken	8xxx
Danske Bank	9180-9189
Nordea/Plusgirot	9500-9549 / 9960-9969

The following banks have BBAN account numbers containing 10 characters:

Nordea Bank Sweden "personkonto" which is constructed by using the account holder’s date of birth: yymmddxxxx (year, month, date and four characters), ex. 661214-1234. The clearing number for "personkonto" is 3300 and the account number must be preceded by the clearing number. E.g. 33006612141234. BIC code NDEASESS.
Danske Bank has account numbers containing 10 characters and must be preceded by 604 so that it makes 13 characters. BIC code DABASESX.
Sparbanken Finn and Sparbanken Gripen AB.

The following bank has account numbers (BBAN) containing 4 character clearing codes and 9 character account numbers:
Bank	Clearing code
Handelsbanken Ex 6111 123 456 789 must be stated as: 1160 123 456 789	6000-6999 HANDSESS

The following bank has account numbers (BBAN) containing 5 character clearing codes and up to 10 character account numbers:
Bank	Clearing code
FöreningsSparbanken (If the account number has less than 15 characters, please fill in with zeros after the five character clearing code so that there are 15 characters in total: Ex 80003562355 is stated as 800030000562355)	8000x SWEDSESS