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Cheque payments

Cheque payments

  • An alternative type of settlements
  • Cheques are accepted in all currencies used by SEB bank in transactions
  • To submit a cheque for payment, you will need an account with SEB bank

There might be situations, when it is more beneficial for you to use payment cheques instead of cash. Cheque transactions for sending money or receiving money as well as for paying for goods and services in Latvia and abroad can be used by both companies and individuals – clients of SEB bank or other banks.

How long does it take from depositing of a cheque until receiving of the money?
The cheques are paid by the bank within 25-40 working days from the acceptance thereof, except the cheques of amount from 4 500 EUR and more (or an equivalent thereof in another currency). Accepting such cheques, the bank does not define a term of paying them out.

How can I find out the validity period of the cheque if it is not specified on the cheque?
Unless otherwise specified on the cheque, the cheque is valid for six months from the date of the issuance thereof. The validity period of the cheques issued in the USA is one year; conversely American Express or Thomas Cook travel cheques do not expire.

If the currency of the cheque is not EUR, is it possible to credit the money in another currency to my account with SEB bank?
You can have another currency of your preference linked to your EUR account or you can open a new multi-currency account and receive the money in the account in the currency specified on the cheque.

To submit a cheque for payment to SEB banka, the recipient specified thereon should visit any SEB banka branch. The recipient will need to have a current account with SEB bank to which the amount specified on the cheque will be credited.

Services Fees
Acceptance of cheques for collection:1
   •  acceptance of cheques for collection  100.00 EUR + 5% of the amount specified in the cheque2
   •  commission for unpaid cheque Commission requested by the foreign bank +
SEB bank's commission for the acceptance of the cheque for collection

 


 

1 Cheque payments are offered only to those SEB customers, who have opened a current account with SEB at least 6 months before the date of cheque payment and use the account on a daily basis.

2 Fee may be higher in accordance with the actual costs of the Bank. According to Checks acceptance and paying terms and conditions, Customer must cover all possible costs and unforeseen expenses that have appeared in the process of acceptance of cheques for collection.

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