Foreign Payment Orders

Payments in euros or foreign currency in favour of payee’s account whose account is abroad or whose account is opened in other banks registered in Estonia.

What information is required for foreign payment initiation

  • Name, address and account number of beneficiary
    When initiating a payment to the beneficiary’s account opened in the bank which is located in European Union, account number must be IBAN (International Bank Account Number) In case of other countries, it might be different as each country has their own rules and standards.

    In the absence of the beneficiary’s name and address, the beneficiary's bank may refuse to execute the incoming payment.


  • Payment type
    Payment type provides an opportunity to determine how fast the beneficiary will receive the payment. There is possible to choose between three options - normal, urgent or extra urgent, depend on payment currency. If the payment type is not specified, it is considered to be normal.
  • Beneficiary's bank code - SWIFT/BIC
    BIC (Bank Identifier Code) or SWIFT-code is an 11-digit combination (in case you have 8-digits last digits must be filled with XXX) of letters and numbers which serves to identify a payment service provider. You can check a BIC/SWIFT code from the public register of SWIFT/BIC codes (www.swift.com).
    If you fail to specify the beneficiary’s bank SWIFT/BIC, the bank may deduct an additional fee specified in the pricelist of the bank for manual processing of the payment order.
    For USD payments to the USA, instead of the SWIFT code you may specify the national clearing code ABA/ Routing No.(FW) that consists of 9 digits.



  • Details of payment
    You need to indicate the purpose of the payment. It should be a specific and short text, not more than 140 characters.

  • Type of Service fee

    Depend on type, the service fees will be deducted from your account according to the valid price list. The distribution of expenses depends on the agreement between the payer and the beneficiary. The following options are available:

    • SHA – the payer will pay the Danske Bank’s fees for the foreign payment order; the beneficiary will pay the charges of the foreign bank.
    • OUR – the payer will pay all the charges for the foreign payment order, both Danske Bank’s charges and the charges applied by the foreign bank. In this case the beneficiary receives the entire amount of the transfer. Please note that charges of other banks may be deducted from the amount transferred, if the foreign payment order is initiated in US dollars.
    • BEN – the beneficiary will pay all the charges for the foreign payment order, both Danske Bank charges and the charges applied by the foreign bank. Therefore the beneficiary does not receive the full amount transferred.

    For payment orders to EU and EEA only SHA option is available.

  • Correspondent bank 

    It is not necessary to specify the correspondent bank of the beneficiary’s bank (except for payments in RUB).
    Danske Bank will select an optimal correspondent bank of the beneficiary’s bank. If the customer specifies the correspondent bank, Danske Bank will process the payment order according to the customer’s request. Please note, that if the correspondent bank is specified incorrectly, foreign bank may return the amount transferred or charge in addition for the payment order. When specifying the correspondent bank of the beneficiary’s bank, the SWIFT BIC of the beneficiary’s bank must be specified. In the event of failure to specify the SWIFT BIC of the beneficiary’s bank, Danske Bank may deduct an additional charge as specified in the pricelist of the bank for manual processing of the payment order.

  • Additional information for payments in RUB
    • Beneficiary bank details
      -The bank’s BIK code (9 digits). SWIFT BIC does not need to be specified.
      -The correspondent bank account number (20 digits starting from digit 3; the last three digits of the correspondent account must coincide with the last three digits of the BIK code).
      -The full name and address of the beneficiary's bank.
    • Beneficiary details
      -The beneficiary’s INN number (if the beneficiary is a legal entity, the number consists of 10 digits; if the beneficiary is a private person, the number consists of 12 digits).
      -If the beneficiary is a private person –name, surname and father’s name must be specified.
      -The beneficiary’s bank account number – 20 digits starting from digit 4.
    • Payment purpose
      -VO (currency operation) code that usually consists of 5 digits. This code must be entered in the payment purpose field (VOXXXXX).
      -Exact payment purpose – the number and date of the contract or the number and data of the invoice.

How long does it take to transfer money?

  • Payment type - normal
    • EUR payment to EEA counties are executed within one business day.
    • The rest of payments are executed within two business days.
  • Payment type - urgent
    • All payments accepted by bank by 3:00 p.m. on a business day are executed within one business day.
    • All payments accepted by bank after 3:00 p.m. on a business day or on a non-business day are executed within two bank business days.
  • Payment type - extra urgent
    • EUR and USD payments accepted by bank by 3:00 p.m. on a business day are executed on the same business day.
    • EUR and USD payments accepted by bank after 3:00 p.m. on a business day or on a non-business day are executed on the next bank business day.
    • DKK, GBP, NOK, SEK and PLN payments accepted by bank by 12:00 p.m. on a business day are executed on the same business day.
    • DKK, GBP, NOK, SEK and PLN payments accepted by bank after 12:00 p.m. on a business day or on a non-business day are executed on the next bank business day.
  • Foreign payments within Danske Bank A/S Group Banks
    • Payments between Danske Bank customers in Estonia, Lithuania and Latvia are instant in any currency (except CNY). The payment order is processed immediately, any calendar day including non-business days.
    • Payment orders in, BGN, CHF, CZK, DKK, EUR, GBP, HUF, ISK, NOK, PLN, RON, SEK or USD, accepted by bank by 4:00 p.m. on a business day are executed on the same business day.
    • Payment order in, BGN, CHF, CZK, DKK EUR GBP, HUF, ISK, NOK, PLN, RON, SEK or USD, , accepted by bank after 4:00 p.m. on a business day or on a non-business day are executed on the next business day.
    • Payment orders in other currencies accepted by bank by 12:00 p.m. on a business day are executed within one business day.
    • Payment orders in other currencies accepted by bank after 12:00 p.m. on a business day or on a non-business day are executed within two business days.

Revocations, investigations and amendments related to foreign payments

  • Revocation

    Revocation

    A customer may submit a request to cancel a foreign payment order after the order has been submitted to the bank.

    • If the amount of a payment transaction has not been transferred to the beneficiary’s bank or the intermediary bank – Danske Bank will re-credit the payment amount to the payer’s account.
    • If the payment order has already been transferred to the payee’s bank or the intermediary bank – Danske Bank is able only to recall the payment and will return the payment amount to the payer only after the payment is returned and refunded to the bank. Danske Bank takes no responsibility for the actions taken by the intermediary bank or the beneficiary's bank for cancellation of payment orders and return of the transferred amount.

    Fees for processing of the payment order will not be reimbursed.

  • Investigations and amendments

    Investigations and amendments

    The payer may ask to investigate the payment status or provide revised information for the payment order (except for the information on the amount and currency). If the payment has been already debited from the correspondent account, Danske Bank will inform the intermediary bank about the case, but the result of the revision will be under beneficiary’s bank consent.

    An application of request to revoke, amend or investigate a foreign payment may be submitted at all Danske Bank's offices in Estonia or via Danske eBank.


The correspondent banks

  • The list of correspondent banks
    Currency
    Correspondent bank
    SWIFT
     via
    EUR
    Danske Bank A/S, Copenhagen
    DABADKKK
     
    Danske Bank A/S Estonia branch, Tallinn
    FOREEE2X
     Direct via TARGET2
    USD
    Bank of America National Association, New York
    BOFAUS3N
     
    AED
    Danske Bank A/S, Copenhagen
    DABADKKK
    HSBC Bank Middle East Limited,
    Dubai City,
    BIC: NATA AU 33
    AUD
    Danske Bank A/S, Copenhagen
    DABADKKK

    National Australia Bank Ltd,
    Melbourne,

    BIC: NATA AU 33

    BGN
    Danske Bank A/S, Copenhagen
    DABADKKK
    Raiffeisenbank (Bulgaria) EAD, Sofia,
    BIC: RZBB BG SF
    CAD
    Danske Bank A/S, Copenhagen
    DABADKKK
    Canadian Imperial Bank of
    Commerce, Torronto,
    BIC: CIBC CA TT
    CHF
    Danske Bank A/S, Copenhagen
    DABADKKK
    UBS Switzerland AG, Zürich,
    BIC: UBSW CH ZH 80A
    CNH
    Danske Bank A/S,Copenhagen
    Account 3996089630
    DABADKKK
    The Hongkong and Shanghai
    Banking Corporation Limited,
    Hong Kong,
    BIC: HSBC HK HH
    CNY
    Danske Bank A/S, Copenhagen
    Account 3996086119
    DABADKKK
    Industrial and Commercial Bank of
    China Limited, Beijing,
    BIC: ICBK CN BJ
       CZK        Danske Bank A/S, Copenhagen
            DABADKKKCeskoslovenska obchodni banka as,
    Prague,
    BIC: CEKO CZ PP
       DKK       Danske Bank A/S, Copenhagen
           DABADKKK 
       GBP     Danske Bank A/S, Copenhagen
           DABADKKKHSBC Bank plc, London,
    BIC: MIDL GB 22
       HUF       Danske Bank A/S, Copenhagen      DABADKKKRaiffeisen Bank Zrt, Budapest,
    BIC: UBRT HU HB
       HKD       Danske Bank A/S, Copenhagen
         DABADKKKThe Hongkong and Shanghai
    Banking Corporation Limited,
    Hong Kong,
    BIC: HSBC HK HH
       JPY         Danske Bank A/S, Copenhagen
     DABADKKKThe Bank of Tokyo-Mitsubishi UFJ
    Ltd, Tokyo,
    BIC: BOTK JP JT
      NOK        Danske Bank A/S, Copenhagen DABADKKK
     
      PLN       Danske Bank A/S, Copenhagen DABADKKK
     
      RUB       Danske Bank A/S Copenhagen DABADKKK Account: 30111810800013283059
    JSC Unicredit Bank, Moscow,
    BIC: IMBKRUMM
    BIK: 044525545
    Correspondent account: 30101810300000000545
    INN: 7710030411
    KIO Code: 12100
      SEK         Danske Bank A/S, Copenhagen DABADKKK
     
      SGD        Danske Bank A/S, Copenhagen
     DABADKKKUnited Overseas Bank Limited,
    Singapore
    BIC: UOVB SG SG
      THB        Danske Bank A/S, Copenhagen
     DABADKKKBangkok Bank Public Company
    Limited, Bangkok
    BIC: BKKB TH BK
      TRY         Danske Bank A/S, Copenhagen
     DABADKKKCitibank AS, Istanbul
    BIC: CITI TR IX
    From: 10.04.2018:
    TÜRK EKONOMI BANKASI A.S,. ISTANBUL
    BIC: TEBUTRIS930
      QAR       Danske Bank A/S, Copenhagen  DABADKKKQatar National Bank, Doha
    BIC: QNBA QA QA
      ZAR        Danske Bank A/S, Copenhagen
     DABADKKKThe Standard Bank of South Africa
    Ltd, Johannesburg
    BIC: SBZA ZA JJ

Restricted regions for payments in USD

Danske Bank Group does not execute outgoing USD payments to the following countries Sudan, Zimbabwe, Myanmar, Cuba, Syria, Democratic People's Republic of Korea (North Korea), Somalia. Danske Bank Group does not execute any operations with Iran.

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