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Cross-border payment

A cross-border payment is a payment to a foreign bank, or a foreign currency payment to another Estonian bank.

SWIFT symbols
Payer's information
Beneficiary's information
Beneficiary’s bank information
Payment information
Confirming the payment

SWIFT symbols
It is important to remember that cross-border payment form can only be filled in with SWIFT symbols. If illegal symbols are used, the system will give an error message and it will not be possible to confirm the payment.
SWIFT symbols include the following:

SWIFT symbols
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z a b c d e f g h I j k l m n o p q r s t u v w x y z 0 1 2 3 4 5 6 7 8 9+ ( ) ? ' : - / , .

Symbols not allowed for payment forms:

NON-SWIFT symbols
! @ # $ % ^ & * ; " | \= _ < > { } [ ]

If names contain letters with diacritical marks, they should be replaced with the closest basic letter without the marks. For Swedish, Norwegian, Danish and Spanish names with tildes, a-rings and o-slashes, the diacritical should be simply ignored: Å = A; Č = C, Ñ  = N; Ø=O, Œ = OE.

For foreign payments to Russia, data should be entered in Russian using the Latin alphabet. Transliterate names using the following table:

Russian SWIFT
A A
Б B
В V
Г G
Д D
Е E
Ж ZH
З Z
И I
Й Y
К K
Л L
М M
Н N
О O
П P
Р R
С S
Т T
У U
Ф F
Х H
Ц C
Ч CH
Ш SH
Щ TCH
Ы Y
Э /E/
Ю YU
Я YA

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Payer's information

From account
Payer’s account. If there is more than one account, the desired account can be selected from a list. The default selection is the primary account you assigned at the bank. You can change the default account on your own as well by choosing: Settings -> Account settings. You can also change the nickname of the account using the Settings menu. The nickname will be displayed instead of the account number.

The available balance and currency is also provided in addition to the account number/nickname.

Choose the account to be debited from the list. Make sure there are enough funds on the account for both the transfer and the service charge. And please also be aware that changes in exchange rates can have an effect on the amount debited.

Payer's name

The account owner. The account owner may be different from the Netbank user, as each account owner has the right to authorize others to use his account in Netbank.

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Beneficiary's information

Beneficiary's register
If the beneficiary has been saved in the list of beneficiaries, the corresponding nickname can be selected from the appropriate list. The advantage here is that both the beneficiary and beneficiary's bank information will be filled in automatically.

Beneficiary’s nickname
A unique nickname for the beneficiary freely selected by you. It may be the same as the full beneficiary name. Maximum length is 30 characters.

Save beneficiary in register
If you are entering data for a beneficiary for the first time and plan to use them repeatedly, check the corresponding box in order to save these data in the list of beneficiaries. The advantage here is that if you choose the beneficiary from the list, both the beneficiary and beneficiary bank fields will be filled in automatically.

Account number or IBAN
The IBAN (International Bank Account Number) is an internationally standardized account number. Using an IBAN for foreign payments minimizes delays and errors, since it is one of the conditions for fully automatic processing of payments. Money crosses international borders more rapidly. The correct use of the IBAN also allows payments to be made at a lower cost.

From January 1st 2007, only beneficiary account numbers in the IBAN format are accepted for foreign payments made between EU and EEA countries.

The Estonian IBAN is a 20-character sequence. It always begins with the two letter country code – (EE for Estonia) followed by a two-digit verification number, the two-digit bank code and the domestic account number. You can use the IBAN calculator to generate the IBAN for your current account:
IBAN calculator

If you know the IBAN code for the beneficiary bank, we advise you always to enter it. If your enter the IBAN code, you must also enter the bank’s SWIFT code. The beneficiary is obliged to tell you the SWIFT code upon sending the account number in the IBAN format. The IBAN and the SWIFT code go hand in hand. 

Beneficiary’s name
When you choose the beneficiary from the register, the “Beneficiary’s name” field will be filled in automatically.
Maximum length is 35 characters. The field is compulsory.

NB! If beneficiary's name length exceeds 35 characters, insertion of the name can be continued in the field "Benficiary address".

Beneficiary’s address
Enter information as accurately as possible in the address field: street, city, postal code (county or state). Always start from the beginning of the first row. The maximum length of the field is 105 characters.

Beneficiary’s country
Please select the beneficiary country from the list. Enter the first letter of the country and the service will take you to the respective letter in the alphabetical list. The beneficiary country can be different from the beneficiary's bank country.

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Beneficiary's bank information

SWIFT/BIC
A bank identification code always consisting of either 8 or 11 characters. If the beneficiary account number was entered in the IBAN format, use of SWIFT/BIC is compulsory. The beneficiary is obliged to tell you the SWIFT code upon sending the account number in the IBAN format, since the IBAN and SWIFT code are connected.
If you do not know the SWIFT/BIC code, it can be searched for by clicking on the link: search for SWIFT/BIC code

There is no need to fill Bank's name and address field if SWIFT/BIC field is filled.

 

If the account number is not in the IBAN format, you must fill in the fields for SWIFT/BIC code, clearing code or bank name along with the bank address.

If you don't know SWIFT code of beneficiary bank, you can use link Search for SWIFT/BIC code.

Attention! Sometime SWIFT-code found on the website contains 3 XXX symbols at the end. Those symbols are not a part of SWIFT-code, but they only indicate different possibilites of code appearance depending on the bank's branch. In this case you only have to input first 8 symbols to payment form, otherwise payment will be sent for manual processing which will slow its arrival to beneficiary.

Example: found Nordea Finland SWIFT-code is NDEAFIHHXXX, but into payment form you have to input only first 8 symbols i.e. NDEAFIHH

Clearing code
Like the SWIFT/BIC code, the clearing code refers to the bank name and office. The clearing codes most often used are:

  • SC or Sort Code. Followed by six digits. Written as SC123456. This code is used in Great Britain.
  • BLZ or Bankleitzahl. Followed by eight digits. Written as BL12345678. This code is used in Germany.
  • FW or Fedwire/ABA/Routing number. Followed by nine digits. Written as FW123456789.
  • CH or CHIPS/UID. Followed by six digits. Written as CH123456. Both codes are in use in the settlement system within the United States of America.

In these codes, it is very important to always note them on the payment order. Absence of the codes may result in delayed transfer of the funds to the beneficiary.

If the account number is not in the IBAN format, then you must fill in the SWIFT/BIC code, clearing code or bank name along with the bank address.

 

Bank's name
Enter the name as accurately as possible. If the bank name field is filled in, it is also required to fill in the address. Maximum length is 35 characters.

If the account number is not in the IBAN format, then the SWIFT/BIC code, clearing code or bank name along with the bank address must be filled.

Bank's address
If the bank name field is filled in, it is also required to fill in the address.
Enter information as accurately as possible in the address field: street, city, postal code (county, province or state). Always start from the beginning of the first row. The maximum length of the field is 105 characters.

Bank's country
Scroll down the list and select the country where the bank is located. You may also type the first letter of the country and you will be taken to the corresponding letter in the alphabetical list. Verify the accuracy of the selection, since many banks have branches in different countries.

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Payment information

Amount
Either a comma or full stop can be entered as the decimal point. A whole figure is entered as whole number. The field is compulsory.
Keep in mind that payments can only be executed within your daily limit. If the daily payment limit is exceeded, the system will display an error message, “Daily limit exceeded for this account). Information on the daily limit can be accessed and changed only at a bank office or service outlet.

Make sure there are enough funds on the account for both the transfer and the service charge. And please also be aware that changes in exchange rates can have an effect on the amount debited.

Currency
The currency can be chosen from a list. The field is compulsory. NB! Conversion is performed according to a current valid conversion rate in the bank.

Due date
The default payment date is the present date. The field is compulsory.
If you wish to change the payment date, enter it in one of the following forms:

  • DDMMYYYY
  • DD.MM.YYYY

The payment date must be a banking day. If you enter a rest day as the payment date, the payment date will be changed to the next banking day after the payment is effected.

A future date can also be set as the duedate. The date may not be more than 2 months distant.

Details of payment
Maximum length is 140 characters.

Reference number
It is verified whether the number conforms to the standard for reference numbers. The number must be one long series of numbers with no spaces. Maximum length is 16 characters.

If reference number happens to be longer than 16 chanracter, you can inout it into field "Details of payment", put in front of it /RFB/ i.e reference for beneficiary.

Payment type
You can choose between the standard and urgent payment. The urgent payment is a faster option, and the service charge is higher.

Service fees
The following opportunities exist for paying for service charges related to foreign payment orders:

  • Shared (SHA)
    Costs related to the payment order are shared by the person who initiated the payment and the beneficiary.
    The payment initiator pays all of the bank service fees and the beneficiary pays all of the service charges at foreign banks (correspondent bank and beneficiary bank). The amount received by the beneficiary will be lesser by service fees.
  • To be borne by originator (OUR)
    Charges of payment order at a bank and foreign banks (correspondent banks and beneficiary bank) are paid in full by the person who initiated the payment. The full payment amount will be transferred to the beneficiary.
    The payer’s bank can nevertheless not guarantee that the full amount will be transferred to the beneficiary’s account, only that it will be transferred in full from its correspondent account.
    In addition, it is important to know that if the service fee initially paid to bank for charges borne by originator does not cover the service fees charged by foreign banks, the rpayer bank may debit the payer’s account for the remaining balance.
    Thus we recommend that you always keep this in mind and when making payment arrangements with your partners, choose a type of charges other than OUR.

Remitter (OUR) charges allowed in case of beneficiary account is held in the bank outside EU/EEA member states. 

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Confirming the payment
After you enter the payment, it must also be confirmed. You can confirm payments one at a time or several at once.

  • When you have finished entering the payment, press Continue, which will bring up a page with a list of payments with unconfirmed status. Each payment can be opened, modified or deleted. The default is that all unconfirmed payments are selected and are ready for confirmation. To deselect, remove the checkmark from the corresponding box. To confirm, press Confirm and enter the code from your code card as prompted or PIN2 in case you are logged in with an ID card.
  • You can also confirm payments by going to the Start page and clicking on the link Unconfirmed payments: nr;
  • You will also be reminded of unconfirmed payments whenever you log out of the system;

Since payments are not processed immediately, your balance will not change immediately either. Confirmed payments are transferred to the Due list of payments.

If you do not confirm the payments with the required code (PIN2 in case of ID card), the payments will not be processed.