Domestic payment

Effective as of 09.04.2018

CASH
Depositing	At bank office will be immediately transferred to the payer's account; will be transferred to the payer's account within 1 hour. Amounts paid in at online depositor will be transferred to the payer's account immediately. Amounts deposited via collection are transferred to accounts during the deadline agreed with the collection company.
Payment	Payment of the reserved amounts of the euro shall be made on the following 2 banking days after the submission of the reservation application is filed if the reservation application is filed for bank on the banking day before 2:00 PM. Reserved currencies are paid out as agreed between the client and the bank.
The decision of current account openening	The decision on whether or not a current account is opened is made within 10 banking days of receipt of all required documents In the case of private persons who are not citizens of the Republic of Estonia or do not hold an Estonian residence permit (a long-term resident's residence permit or a temporary residence permit for at least one year) The decision on whether or not a current account is opened or any other product contracts are entered into is made within 10 banking days of receipt of all required documents in case of legal entities who are registered in Estonia and represented by non-resident or whose ownership structure includes a non-resident In the case of legal entities registered outside European Union Member States and Norway. The decision-making time shall also apply to legal entities registered in Cyprus, Luxembourg, Malta and the United Kingdom

CASH

Depositing

At bank office

will be immediately transferred to the payer's account;

will be transferred to the payer's account within 1 hour.

Amounts paid in at online depositor will be transferred to the payer's account immediately.

Amounts deposited via collection are transferred to accounts during the deadline agreed with the collection company.

Payment

Payment of the reserved amounts of the euro shall be made on the following 2 banking days after the submission of the reservation application is filed if the reservation application is filed for bank on the banking day before 2:00 PM.

Reserved currencies are paid out as agreed between the client and the bank.

The decision of current account openening

The decision on whether or not a current account is opened is made within 10 banking days of receipt of all required documents

In the case of private persons who are not citizens of the Republic of Estonia or do not hold an Estonian residence permit (a long-term resident's residence permit or a temporary residence permit for at least one year)

The decision on whether or not a current account is opened or any other product contracts are entered into is made within 10 banking days of receipt of all required documents

in case of legal entities who are registered in Estonia and represented by non-resident or whose ownership structure includes a non-resident

In the case of legal entities registered outside European Union Member States and Norway. The decision-making time shall also apply to legal entities registered in Cyprus, Luxembourg, Malta and the United Kingdom

BANK TRANSFERS
Domestic payments	Properly prepared payments sent to the bank before 10 pm are debited from the payer's account on the same date, and payments sent to the bank after 10 pm are debited on the next date. Incoming domestic payments An incoming domestic payment is transferred to the beneficiary's account on the settlement day of receipt of the money provided that the beneficiary's details are correct. Outgoing regular domestic payments: a regular domestic payment made through electronic channels is sent to the beneficiary's bank on the same settlement day if the payment has been debited rom the remitter's account before 4:30 p.m. Payments sent by the remitter after 4:30 p.m., at weekends and on public holidays are debited, but sent to the beneficiary's bank on the next settlement day; a regular domestic payment made in an office is sent to the beneficiary's bank on the same settlement day if the payment has been debited from the remitter's account before 4:00 p.m. Payments sent by the remitter after 4:00 p.m., at weekends and on public holidays are debited, but sent to the beneficiary's bank on the next settlement day. Outgoing urgent domestic payments: an urgent domestic payment made through electronic channels in between 8:30 a.m. to 4:30 p.m. is sent to the beneficiary's bank without delay but not later then on the same settlement day. Payments sent by the remitter after 4:30 p.m., at weekends and on public holidays are debited, but sent to the beneficiary's bank on the next settlement day; an urgent domestic payment made in an office before 4:00 p.m is sent to the beneficiary's bank without delay but not later then on the same settlement day. Payments sent by the remitter after 4:00 p.m., at weekends and on public holidays are debited, but sent to the beneficiary's bank on the next settlement day. Intra-bank payments: If both you and the payee have accounts in Swedbank, then the money will be received in the payee’s account in an hour at the latest. Payments made after 10 pm will reach the payee the next day at the latest. Intra-bank payments made in the Internet bank cost 0,16 euros. Mass payments mass payments made via the Internet bank are made pursuant to the usual intra-bank or domestic payment execution terms; mass payments with value dates are transferred to the payee's account inside the bank or sent to the payee's bank not later than 10:00 am on the value date
Foreign payments	Incoming international payments receipts through international settlement systems are credited to the payees's account on the bank's value date (1); receipts from banks in the Swedbank Group are credited to the payee’s account on the bank’s value date (1); receipts through the bank's correspondent accounts are credited to the payee's account until 4:00 pm on the bank's value date (1); receipts are credited to the payee’s account on the bank’s value date (1) provided that the payee’s details are correct. Outgoing international payments Payment type Ordinary ordinary European payment (4) are sent to the payee’s bank one settlement date after the client's value date (2); ordinary payments are sent to the payee’s/correspondent bank two settlement date after the client's value date (2), excl payments that are made in euros and transferred to European countries (4), that are sent to the payee’s bank one settlement date after the client's value date; Urgent urgent European payments are sent to the payee's/correspondent bank on the same settlement date if the payment order is submitted to the bank before 4:00 pm; urgent payment orders, except orders in EUR and USD, are sent to the payee’s/correspondent bank one settlement date after the client's value date (2) if the payment order is submitted to the bank before 2:00 pm. EUR and USD payment orders (excl urgent European payment) are sent to the payee’s/correspondent bank one settlement date after the client's value date (2) if the payment order is submitted to the bank before 3:00 pm; Express express payments of less than 10 million euros (or same amount in foreign currency) are sent to the payee's/correspondent bank on the same settlement date if the payment order is submitted to the bank before 2:00 pm. Express payments that exceed 10 million euros (or same amount in foreign currency) are sent to the payee's/correspondent bank on the same settlement date if the payment order is submitted to the bank before 10 pm or between 10 am and 2:00 pm by mutual agreement with the bank for processing the relevant payment. Express payment scan only make in USD and in EUR. Group payments are sent to the payee’s bank on the following settlement date:
		to Latvia	to Lithuania	to Sweden	to Denmark	to Norway	to Finland
	EUR	on the same settlement date if the payment order is submitted to the bank before 5:30 pm
	USD	on the same settlement date if the payment order is submitted to the bank before 4:00 pm
	SEK	on the same settlement date if the payment order is submitted to the bank before 4:00 pm
	NOK	on the same settlement date if the payment order is submitted to the bank before 3:00 pm
	DKK	on the same settlement date if the payment order is submitted to the bank before 3:00 pm
	Other currencies	on the same settlement date if the payment order is submitted to the bank before 3:00 pm		on the day after the next banking day
Confirmation by phone of payments/security transfers made in electronic channels	Payments/security transfers made through the Internet bank and through Swedbank Gateway , which exceed the confirmation limit set by the client need to be confirmed by phone. Payments are confirmed by phone within 24 hours as of forwarding the payment, between 8:00 a.m.-9:00 p.m. on working days and 10:00 a.m.-6:00 p.m. on days off. Security transfers are confirmed by phone within one banking day as of forwarding the security transfer, between 8:30 a.m. -5:00 p.m. on working days.

STATEMENTS
Ordered periodical statements	Statements ordered by post are posted on the fourth banking day after the last day of the period, to which is added the time for movement of the mail. By fax sent on the banking day before 9.00 a.m following the last day of the period; if the fax machine has not been switched on or it is busy or there are communications disturbances, the fax is sent within the banking day. Statements ordered through Internet-Bank for business clients are available as of 9:00 a.m on the banking day following the last day of the period. Intra-group overdraft interest and group balance statements are available as of the third banking day of every month.
One-time statements from a branch	one-time statements of the previous and current month are issued on the same banking day if the number of printed pages is below 20. earlier and 20-page and over statements are issued within 3 banking days.
Securities transactions	Transaction value date stock exchange transaction: T (3) +2 or T+3 according to market practice extra-stock exchange transaction without or against payment: upon agreement between the parties to the transaction from T(3)+1 to T(3)+n according to the stock market practice. Fund units transaction value date – according to fund conditions. Transaction realisation entries are made: in case of securities registered in the Estonian Central Depository for Securities transaction value date from 9:00 a.m until 6:00 p.m if the Estonian Central Depository for Securities gives affirmation; in case of Estonian fund transactions according to fund conditions; in case of foreign securities and foreign fund when affirmation is given by sub-custodian In the case of security transfers which are subject to confirmation by phone the deadlines of execution of securities transactions shall be calculated as of the moment when the Bank is able to contact the client and securities transaction order was entered in Bank`s system.
Issuance of a certificate	within 10 banking days

(1) Bank's value date is the settlement day when the right to use the amount in the payment transaction transfers from the intermediary to the beneficiary's bank.

(2) Client's value date is the calendar day when the Bank debits the remitter's account or credits the beneficiary's account.

(3) T is the transaction date, i.e. the date of agreement / conclusion of the transaction.

(4) The beneficiary's bank is located in a Member State of the European Union (or Norway, Iceland, Liechtenstein, Switzerland, the Åland Islands, the Azores, Ceuta and Melilla, Gibraltar, Guadeloupe, the Canary Islands, Madeira, Martinique, French Guinea, Reunion).

Domestic payments can be used to make transfers from your Swedbank account to any other bank in Estonia. Payments between banks move fast and the money is generally received in the payee’s account on the same day. Intra-Bank Payment is the quickest and the cheapest i.e. both you and the payee have accounts in Swedbank. In such a case the money reaches the payee´s account in an hour at the latest.

Intra-Bank Payment

If both you and the payee have accounts in Swedbank, then the money will be received in the payee’s account in an hour at the latest. Payments made after 10 pm will reach the payee the next day at the latest. Intra-bank payments made in the Internet bank cost 0,16 euros.

Domestic Payment

Transfers to other Estonian banks usually reach the payee the same day if the payment is made before 4:30 pm. Payments made in evenings, at weekends and on public holidays will usually reach the payee the next business day. Domestic Payments made in the Internet bank cost 0,38 euros.

Future Payment

If you need to transfer money some time in the future, you can prepare a payment order for up to a year in advance. You do not need to have sufficient funds for the payment in your account on the day you prepare the payment order. However, you need to make sure that you have the required funds in your account on the payment date.

Good to know

Make sure payment data are correct

Check all the relevant payment data before making the payment. Payment is transferred immediately and therefore the annulment process is not always possible.

Foreign Currency Transfers

You can only transfer foreign currencies to accounts in Swedbank by domestic payments. Foreign currency transfers to other Estonian banks can only be made with international payment orders. You must also keep in mind that you will be charged the international payment fee for such payments.

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