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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
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.
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.
