Bank Account and Payments

Clients may initiate SEPA payment orders at Danske eBank or any Danske Bankas customer service branch.

What are the properties of SEPA payments?

• Currency of SEPA payment orders: the euro;
• IBAN format used to identify payer and recipient accounts;
• The recipient bank is identified by the SWIFT BIC;
• SEPA payment order funds are transferred within one banking day (no extra urgent transfers);
• Money transfer fee does not depend on the amount of transfers;
• Fees for SEPA payment orders are paid both by the payer and the recipients (SHA);
• SEPA payments are possible only between banks that process SEPA payments.

How are SEPA payments different from international payments?

• Compared to regular international payment orders, SEPA payment orders may be supplemented with additional information:
  • payer transaction identification number, which is sent to the final recipient;
  • original payer and original payer identification data (used when payments are carried out on behalf of another party);
  • final recipient and final recipient identification data, when the recipient receives money on behalf of another party;
• structural payment information (up to 35 symbols) can be specified;
• Maximum payment order amounts are unlimited;
• SEPA payment files cannot be placed through to Danske eBank.

The following information must be specified when placing an SEPA payment order:

• Recipient IBAN number and recipient name;
• Recipient bank SWIFT BIC;
• Payment purpose.

SEPA payment orders acceptance and completion deadlines

• Money is credited to the recipient’s account within three banking days.