Swedbank Finland will expedite its SEPA payment processing 1.6.2020

Swedbank Finland will expedite the transfer of SEPA payments from one financial institution to another. Starting from 1.6.2020, the funds will be transferred to the payees with same day value, however, the final crediting of the payment shall depend on the beneficiary's bank processes and schedules.

 

The change applies to all SEPA payment transfers in Euro made from Swedbank Finland to another financial institution in Finland and in Europe.

 

SEPA salary and pension payments paid by corporate customers are transmitted as before T + 1. Salary payments and salary payment files have to be sent to bank 1 day before payment value date, before SEPA cut off 16:30 Finnish time.

 

The change does not require any action on the part of customers and shall not result in changes to the use or terms of existing services.

 

Note: To ensure that the SEPA payment shall reach the beneficiary bank on the same banking day, we recommend that the SEPA payment is confirmed via online banking or sent by bank file transfer before 14:00 Finnish time.

 

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