Using the Standard SEPA payments, you can make the euro transfers cost-effectively and for any amount to all the countries of the European Economic Area, as well as Switzerland, Monaco, San Marino and Andorra. If payment amount is up to 15 000 EUR and beneficiary bank is participant of instant payment system, bank will process your payment as instant.
Whereas for euro transfers to eurozone countries with immediate payment processing you can choose the European Express payment, if your payment does not meet the Instant payment criteria.
They are: 28 Member States of the European Union (Austria, Belgium, Bulgaria, Czech Republic, Denmark, France, Greece, Croatia, Estonia, Ireland, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Finland, Spain, Hungary, Germany, Sweden), as well as Iceland, Liechtenstein, Norway, Switzerland, Monaco, San Marino, Andorra and United Kingdom.
IBAN (the International Bank Account Number) is the customer's account number with the bank or another financial institution. It enables you to recognize the recipient's country and account, as well as to verify the accuracy of the beneficiary's account number.
While the length of the IBAN account number may vary from country to country, it is not however longer than 34 characters and consists of the country code (2 letters), 2 check digits, the bank’s code, and the account number of the bank's customer.
Latvian IBAN consists of 21 symbols:
When making a payment via internet bank, the system will check automatically whether the IBAN number is correct and meeting all the requirements. You can check IBAN numbers in the table below.
Country |
Length |
Example |
---|---|---|
Andorra |
24 |
AD1200012030200359100100 |
Austria |
20 |
AT611904300264573201 |
Belgium |
16 |
BE68539007547034 |
Bosnia and Herzegovina |
20 |
BA391290079401028494 |
Bulgaria |
22 |
BG80BNBG96611020345678 |
Croatia |
21 |
HR1210010051863000160 |
Cyprus |
28 |
CY17002001280000001200527600 |
Czech Republic |
24 |
CZ650800000192000145399 |
Denmark |
18 |
DK5000400440116243 |
Estonia |
20 |
EE382200221020145685 |
Faeroe Islands |
18 |
FO1464600009692713 |
Finland |
18 |
FI2112345600000785 |
France |
27 |
FR1420041010050500013M02606 |
Germany |
22 |
DE89370400440532013000 |
Gibraltar |
23 |
GI75NWBK000000007099453 |
Greenland |
18 |
GL8964710001000206 |
Greece |
27 |
GR1601101250000000012300695 |
Hungary |
28 |
HU4211773016111110180000000 |
Iceland |
26 |
IS14015926076545510730339 |
Ireland |
22 |
IE29AIBK93115212345678 |
Italy |
27 |
IT60X0542811101000000123456 |
Latvia |
21 |
LV80BANK0000435195001 |
Liechtenstein |
21 |
LI21088100002324013AA |
Lithuania |
20 |
LT121000011101001000 |
Luxembourg |
20 |
LU280019400644750000 |
Macedonia |
19 |
MK07300000000042425 |
Malta |
31 |
MT84MALT011000012345MTCLAST001S |
Monaco |
27 |
MC5813488000010051108001292 |
Netherlands |
18 |
NL91ABNA0417164300 |
Norway |
15 |
NO9386011117947 |
Poland |
28 |
PL27114020040000300201355387 |
Portugal |
25 |
PT50000201231234567890154 |
Romania |
24 |
RO49AAAA1B31007593840000 |
Serbia and Montenegro |
22 |
CS73260005601001611379 |
Slovak Republic |
24 |
SK3112000000198742637541 |
Slovenia |
19 |
SI56191000000123438 |
Spain |
24 |
ES9121000418450200051332 |
Sweden |
24 |
SE3550000000054910000003 |
Switzerland |
21 |
CH9300762011623852977 |
Turkey |
26 |
TR330006100519786457841326 |
United Kingdom |
22 |
GB29NWBK60161331926819 |
You can manually change transfer limits at any time in the internet bank section ”Accounts/Cards – Current accounts”.
If you need limits that exceed 10 000 EUR monthly and 4 000 EUR daily limit, please fill in the internet bank application for limit change.
To make a European payment:
If European payment amount is up to 15 000 EUR and beneficiary bank is participant of instant payment system, your payment will be processed instantly and will reach beneficiary account generally within 10 seconds, if no any obstacles for instant payment processing. Instant payments are executed every calendar day, including Saturdays, Sundays and national or public holidays. Instant payment processing is available only for payments initiated via electronic channels (internet bank).
If bank could not process your European payment instantly, payment will be processed as SEPA standard payment. Only in case you have marked the option “Process the payment only as instant” in payment form, and instant payment processing fails for some reason, your payment will be credited back to your account and bank will not process your payment as SEPA standard payment automatically.
If beneficiary bank is not participant of instant payment system or payment amount exceeds 15 000 EUR, you can choose between SEPA Standard or European Express payment.
Using SEPA Standard or European Express payment, the funds will be received on the same day, if:
Only SHA or “sharing of costs” option applies to Standard SEPA payments. Consequently, the payer and the beneficiary share the transfer commission fee, and it is guaranteed that the recipient receives the payment amount in full.
If the beneficiary's bank is not located in the member states of SEPA (is not the member of the Single euro payments area) or if the beneficiary's IBAN account is not specified on the payment, it will be executed as a Cross-border payment for which the relevant fee will be charged.
In force from | In force to | |
---|---|---|
Payment order |
25.05.2018
|
In force
|
Terms and conditions of Settlement |
01.01.2021
|
In force
|
Foreign payment order |
25.05.2018
|
In force
|
In force from | In force to | |
---|---|---|
Terms and conditions of Settlement |
03.01.2020
|
31.12.2020
|
Terms and conditions of Settlement |
13.01.2018
|
02.01.2020
|
Services |
Fees | |
---|---|---|
In electronic channels | At the Bank's branch | |
Intrabank payment | ||
Between accounts of one customer at SEB bank (incl. transfers to a savings deposit) | Free of charge | 3.00 EUR1 |
To another customer's account at SEB bank if the customer has applied for the Entrepreneurs plan | Free of charge | 3.00 EUR |
To another customer's account at SEB bank | 0.21 EUR | 3.00 EUR |
SEB pension fund, SEB Life and Pension Baltic SE accounts within SEB bank | Free of charge | Free of charge |
Currency exchange within one account | Free of charge | 3.00 EUR |
European payment 2, 3 | ||
Standard SEPA payment if the customer has applied for the Entrepreneurs plan (a certain number depending on the type of the plan) | Free of charge | 4.00 EUR |
Submission and performance of the payment4, 5 | until 16:00, D+0* | until 15:00, D+0* |
after 16:00, D+1* | after 15:00, D+1* | |
Standard SEPA payment | 0.50 EUR | 4.00 EUR |
Submission and performance of the payment4, 5 | until 16:00, D+0* | until 15:00, D+0* |
after 16:00, D+1* | after 15:00, D+1* | |
European Express payment (SHA)6 | 22.00 EUR | 25.00 EUR |
Submission and performance of the payment5 | until 17:00, D+0* | until 16:00, D+0* |
Cross-border payment7, 8 | ||
Standard payment: | ||
• SHA | 11.50 EUR | 14.50 EUR |
• OUR | 20.00 EUR | 25.00 EUR |
Submission and performance of the payment5 | until 17:00, D+2* | until 17:00, D+2* |
Urgent payment: | ||
• SHA | 18.50 EUR | 22.00 EUR |
• OUR | 26.00 EUR | 30.00 EUR |
Submission and performance of the payment5 | until 15:00, D+1* | until 14:00, D+1* |
after 15:00, D+2* | after 14:00, D+2* | |
Express payment: | ||
• SHA (payments in EUR) | 22.00 EUR | 25.00 EUR |
• SHA (payments in foreign currencies) | 25.00 EUR | 30.00 EUR |
• OUR | 50.00 EUR | 58.00 EUR |
Submission and processing of payments5 in USD, EUR, GBP, CAD | until 16:30, D+0* | until 15:30, D+0* |
Submission and processing of payments5 in NOK, CHF, SEK | until 15:00, D+0* | until 14:00, D+0* |
Submission and processing of payments5 in DKK, RUB | until 13:00, D+0* | until 12:00, D+0* |
* D+0 Transfer of funds to the recipient bank or correspondent bank on the same day. D+1 Transfer of funds to the recipient bank or correspondent bank on the following day. D+2 Transfer of funds to the recipient bank or correspondent bank on the day after. |
Improved exchange rate, starting from amount of 10,000 EUR or its equivalent in another currency, may be applied during the working hours and standard exchange rate is applied - during non-working hours.
The Bank's working time (including the time when receiving of payments are canceled, if it is set at the end of the working day) is shortened by one hour on pre-holiday days.
1 Transfer to a deposit account is free of charge.
2 If the payment order does not indicate the recipient's IBAN account, the payment will be processed as a Standard cross-border payment. The correspondent bank and/or beneficiary bank can charge additional fee to be collected from the Customer for the payment processing.
3 Payment in euro to the European bank (a bank located in an EU member state (including its autonomous territories), Iceland, Liechtenstein, Norway, Switzerland, San Marino, Monaco or Andorra).
4 If bank can process payment order as instant payment it will reach beneficiary account generally within 10 seconds – instant payments are executed every calendar day, including Saturdays, Sundays and national or public holidays.
Instant payment processing is available only for payments initiated via electronic channels (internet bank and mobile application), if they meet the following criteria: payment amount is up to 15,000 EUR, beneficiary bank is participant of instant payment system, and there are no other obstacles for instant payment processing .
5 The moment of suspending of accepting payment orders – the time on the Settlement day, after which the received Payment orders are considered to have been received on the next Settlement day.
6 Only in the Eurozone (zone in which the euro is introduced as the currency of the European Union).
7 Payments in foreign currencies to other banks in Latvia are processed like cross-border payments.
8 Payment order with commission fee type SHA - the commission fee of SEB bank is covered by the Customer, while all commission fees of correspondent banks and the recipient bank related to the payment are covered by the recipient. SEB bank sends the payment to the correspondent bank or recipient bank with the instruction SHA in the Details of Charges SWIFT notification field. Correspondent banks or the recipient bank have the right to withhold the commission fees from the transferred amount before or after depositing the funds in the recipient’s account.
Payments to banks in the European Economic Area as well as in Switzerland, Monaco, San Marino and Andorra in any currency are only accepted if the commission fee type is SHA. If the Customer specifies the commission fee type OUR for such payment, payment order will be rejected.
Payment order with commission type OUR - the commission of SEB bank, as well as all commissions of the correspondent bank and recipient bank related to performance of the transfer are covered by the Customer. SEB bank sends the payment to the correspondent bank or beneficiary bank with indication OUR in the respective SWIFT message area Details of Charges, instructing the beneficiary bank to pay the transfer amount to the recipient. This provision limits the liability of SEB bank. SEB bank is not liable if the correspondent bank or recipient bank has failed to adhere to the instructions given by SEB bank or if the credit transfer has not been received in full due to other reasons not controlled by SEB bank. SEB bank has the right to withhold the commission fees claimed by the recipient bank or otherwise related to the payment from the Customer’s account without acceptance.
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