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SEPA (Single European Payments Area – common area of Euro payments) payments are payments in EUR currency within European Union (EU) and European Economic Area (EEA) countries.
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Advantages
Since Nordea joining SEPA, its customers can make and receive equally safe and fast Euro payments in Latvia, as well as other European countries. SEPA payments are faster and more convenient than the standard currency payments.
- Payment to any other bank in Latvia, as well as within EU and EEA countries will be competed within one day, if the payment is accepted by the bank by 11:00.
- The payments are available to individuals as well as legal entities.
- The originator may provide additional information in the payment order (reference number, more detailed information about the originator and the beneficiary)
- The beneficiary shall receive the payment in full.
Conditions
- Payments are performed in EUR currency only. Should the customer prefer to originate a payment from an account of another currency, it shall be applied an automatic conversion at the exchange rate established by the bank on the day of filing the payment order.
- Payments are available in Nordea Netbank to individuals and companies. This type of payments is not available in customer service centres.
- Payment to any other bank will be effected within one day, providing the payment is accepted by the bank by 11:00. When a payment is accepted after 11:00, it then shall be transferred to the beneficiary’s account on the next business day.
- Payments shall be accepted only to the member states of the European Union and the European Economic Area, Switzerland, Liechtenstein, Monaco.
- No SWIFT copy can be provided for the payments.
- Payment origination takes place in Nordea Netbank – within "SEPA payments" screen under the "Payments" menu. The payment order must contain the beneficiary's account provided in the IBAN form and the BIC code of the beneficiary's bank.
- Payments not conforming to the provisions above shall be effected as standard currency payments.
