Currency Payments

Currency payments are transfers in foreign currencies to other banks in Latvia and abroad (except for Nordea Bank) as well as payments in EUR currency to countries outside the EU/EEA. Choose EUR payments in Europe for faster transfers of EUR to the member states of the European Union and the European Economic Area, which are executed within 1 business day.

Currency payments are intended to transfer:

  • Foreign currency payments to other banks in Latvia and abroad (except for Nordea Bank) as well as payments in EUR currency to countries outside the EU/EEA.
  • Any currency to the accounts of the affiliated companies at Nordea Group.


 The speed of execution of currency payment and the commission fee depends on the chosen degree of urgency:

  • Standard – within 2 business days if the transfer is performed electronically before 8 pm or during the Customer Service Unit opening hours. Payments in USD currency are executed within 1 business day.
  • Standard — within one business days if the transfer is performed electronically before 8 pm or during the Customer Service Unit opening hours.
  • Express — on the same day if the payment is submitted before the time indicated in the price list at the Customer Service Unit.


Settled payments are safe and easy to control. The information about the transfers is available in the company’s account statement in Netbank or at any Nordea Customer Service Unit.

Commission fee and payment execution speed is more advantageous:

  • For EUR payment in Europe.
  • For payments to Nordea Bank Group accounts.
  • For payments to the company’s group accounts such as holding/sister companies’ accounts.


For safe and quick payments, Nordea uses intermediary banks (correspondent banks).

Due to this reason, we invite you to take into account that currency payment processing time will be affected by the public holidays of Latvia, Finland and the country whose currency the payment is executed in. Payments settled on a holiday are executed on the following business day. For additional information see the section Currency payments on holidays.

Currency payments can be performed:

  • In Nordea Netbankʼs section Payments.
  • In Mobile Netbank.
  • In mobile application.
  • At any Nordea Customer Service Unit.
  • By calling the Contact Centre at +371 67 005 788.


In order to settle a currency payment the company needs an account at Nordea Bank.

  • Currency payments are transfers in foreign currencies to other banks in Latvia and abroad as well as payments in EUR currency to countries outside the EU/EEA.
  • Payments are executed (transferred to the beneficiary bank) only on business days.
  • As a confirmation of execution, you can receive a copy of the SWIFT payment.
  • You have the option to indicate whether the commission fee for the currency payment will be covered by the payer or shared by both the payer and the beneficiary.

If the payer indicates that he/she will cover the payment commission fees, the Nordea Bank, intermediary bank and beneficiary bank commission fees are covered from the payer’s account.

If the payer indicates that the commission fee will be covered jointly, the intermediary and beneficiary bank commission fees are automatically deducted from the beneficiary’s account and/or from the amount of the payment, according to the intermediary/beneficiary bank price list.

  • Payment execution speed depends on the chosen degree of urgency.
  • Commission fee for the transfer is charged according to the price list.


* Nordea Bank shall have the right to refuse to execute payment orders from/to accounts of persons/countries on whom/which sanctions are applied on the basis of decisions made by the European Union, the United Nations, other international organizations, the Republic of Latvia or any other country, or the policy of Nordea Bank.

Payments in foreign currencies and in EUR currency to the accounts of the Nordea Group banks in Denmark, Finland, Norway, Sweden, Estonia, Lithuania, Poland, Germany, the UK, Russia, China, Singapore, the United States are executed more quickly and with lower commission fees than currency payments to other bank accounts.


Benefits

  • Payments to Nordea Group bank accounts are executed within one business day or on the same day depending on the chosen degree of urgency.
  • Commission fee is lower than for the payments to other bank accounts.

 

Terms

  • Payments in foreign currencies and in EUR currency to the accounts of the Nordea Group banks in Denmark, Finland, Norway, Sweden, Estonia, Lithuania, Poland, Germany, the UK, Russia, China, Singapore, the United States.
  • You can choose a degree of urgency for the payment — standard, urgent.
  • Payment execution speed and the commission fee depend on the chosen degree of urgency according to the price list.
  • Payments are executed (transferred to the beneficiary bank) only on business days.
  • As a confirmation of execution you can receive a SWIFT copy of the payment (except for the payments between Nordea Banks in the Baltic States).

 

General Terms and Conditions for Current Accounts

Payments to the affiliated companies’ group accounts such as holding/sister companies’ accounts are settled on the day the payment is submitted.


Benefits

  • Improve the company’s liquidity management.
  • Convenient submission and processing time.
  • Funds are available on the same day.

 

Terms

  • Payments in EUR, USD, DKK, GBP, NOK, PLN, SEK, LTL currencies.
  • Payments to the affiliated companies’ group accounts such as holding/sister companies’ accounts.
  • Payments are executed to Nordea Group banks.
  • Payments are executed the same day if submitted by the time given in the Price List.

 

General Terms and Conditions for Current Accounts