You can transfer funds in the required foreign currency to another account opened with a bank that operates abroad. International transfers are available online or at a bank in person.
To choose the best way to transfer your money cross-border, consider the destination country, the currency and how fast you need your funds transferred.
This method is used to transfer funds in different currencies to banks in Latvia and just about all countries in the world. The transfer is performed via correspondent accounts opened with correspondent banks, therefore you have to specify the details of your selected correspondent bank as well as the beneficiary’s account number and the bank’s BIC code.
How to transfer funds?
The most convenient way to transfer money in a foreign currency is via the internet bank
- Log in to the internet bank, select “Payments” → “New payment”, complete the required fields of the payment order and confirm the transaction
If you are unable to make the transfer in the internet bank, you can book a meeting in person. Remember to take your personal identity document and fill in the required payment order:
If funds are transferred to you from an account opened with another bank operating abroad, it will be credited to your account on the same day it reaches the SEB. The funds received from another bank after 5.00 p.m. may be credited to the payee's account on the next business day.
Restrictions in making US dollar payments
SEB provides US dollar payment service only to persons and companies that have indicated their declared place of residence or company registration in Latvia. SEB will not be able to make payments in US dollars to other customers due to restrictions imposed by intermediary banks.
For your convenience, we advise you to make money transfers or receive incoming payments in SEB in euros or to execute payment orders in US dollars through a bank in the country of your declared residence or company registration.
| Service | Fee in internet bank and mobile application | Fee at customer service points |
|---|---|---|
| Intrabank payment | ||
| Between accounts of one customer at SEB bank (incl. transfers to a savings deposit) | Free of charge | 5.00 EUR1 |
| To another customer's account at SEB bank if customer has applied for the Customer’s plan | Free of charge | 5.00 EUR |
| To another customer's account at SEB bank | 0.25 EUR | 5.00 EUR |
| SEB pension fund, SEB Life and Pension Baltic SE accounts within SEB bank | Free of charge | Free of charge |
| Currency exchange within one account | Free of charge | 5.00 EUR |
| European payment2, 3 | ||
| Standard SEPA / instant payment if customer has applied for the Customer’s plan | Free of charge | 5.00 EUR |
| Standard SEPA / instant payment | 0.25 EUR | 5.00 EUR |
| Submission and performance of the payment4, 5 |
In Internet bank and mobile application: until 16:00, D+0*after 16:00, D+1* |
At customer service points: until 15:00, D+0*after 15:00, D+1* |
| European Express payment (SHA)6 | 22.00 EUR | 25.00 EUR |
| Submission and performance of the payment5 |
In Internet bank and mobile application: until 17:00, D+0* |
At customer service points: until 16:00, D+0* |
| Cross-border payment7, 8 | ||
| Standard payment: | ||
|
11.50 EUR | 14.50 EUR |
|
20.00 EUR | 25.00 EUR |
| Submission and performance of the payment5 |
In Internet bank and mobile application: until 17:00, D+2* |
At customer service points: until 17:00, D+2* |
| Urgent payment: | ||
|
18.50 EUR | 22.00 EUR |
|
26.00 EUR | 30.00 EUR |
| Submission and performance of the payment5 |
In Internet bank and mobile application: until 15:00, D+1*after 15:00, D+2* |
At customer service points: until 14:00, D+1*after 14:00, D+2* |
| Express payment: | ||
|
22.00 EUR | 25.00 EUR |
|
25.00 EUR | 30.00 EUR |
|
50.00 EUR | 58.00 EUR |
| Submission and processing of payments5 in USD, EUR, GBP, CAD |
In Internet bank and mobile application: until 16:30, D+0* |
At customer service points: until 15:30, D+0* |
| Submission and processing of payments5 in NOK, CHF, SEK |
In Internet bank and mobile application: until 15:00, D+0* |
At customer service points: until 14:00, D+0* |
| Submission and processing of payments5 in DKK, RUB |
In Internet bank and mobile application: until 13:00, D+0* |
At customer service points: until 12:00, D+0* |
| * D+0 Transfer of funds to the recipient bank or correspondent bank on the same day. D+1 Transfer of funds to the recipient bank or correspondent bank on the following day. D+2 Transfer of funds to the recipient bank or correspondent bank on the day after. |
||
Improved exchange rate, starting from amount of 10,000 EUR or its equivalent in another currency, may be applied during the working hours and standard exchange rate is applied - during non-working hours. The Bank's working time (including the time when receiving of payments are canceled, if it is set at the end of the working day) is shortened by one hour on pre-holiday days.
1 Transfer to a deposit account is free of charge.
2 If the payment order does not indicate the recipient's IBAN account, the payment will be processed as a Standard cross-border payment. The correspondent bank and/or beneficiary bank can charge additional fee to be collected from the Customer for the payment processing.
3 Payment in euro to the European bank (a bank located in an European Economic Area member state (including its autonomous territories), Switzerland, Monaco, San Marino, Andorra or United Kingdom).
4 If bank can process payment order as instant payment it will reach beneficiary account generally within 10 seconds – instant payments are executed every calendar day, including Saturdays, Sundays and national or public holidays.
Instant payment processing is available only for payments initiated via electronic channels (internet bank and mobile application), if they meet the following criteria: payment amount is up to 15,000 EUR, beneficiary bank is participant of instant payment system, and there are no other obstacles for instant payment processing.
5 The moment of suspending of accepting payment orders – the time on the Settlement day, after which the received Payment orders are considered to have been received on the next Settlement day.
6 Only in the Eurozone (zone in which the euro is introduced as the currency of the European Union).
7 Payments in foreign currencies to other banks in Latvia are processed like cross-border payments.
8 Payment order with commission fee type SHA – the commission fee of SEB bank is covered by the Customer, while all commission fees of correspondent banks and the recipient bank related to the payment are covered by the recipient. SEB bank sends the payment to the correspondent bank or recipient bank with the instruction SHA in the Details of Charges SWIFT notification field. Correspondent banks or the recipient bank have the right to withhold the commission fees from the transferred amount before or after depositing the funds in the recipient’s account.
Payments to banks in the European Economic Area as well as in Switzerland, Monaco, San Marino, Andorra or United Kingdom in any currency are only accepted if the commission fee type is SHA. If the Customer specifies the commission fee type OUR for such payment, payment order will be rejected.
Payment order with commission type OUR – the commission of SEB bank, as well as all commissions of the correspondent bank and recipient bank related to performance of the transfer are covered by the Customer. SEB bank sends the payment to the correspondent bank or beneficiary bank with indication OUR in the respective SWIFT message area Details of Charges, instructing the beneficiary bank to pay the transfer amount to the recipient. This provision limits the liability of SEB bank. SEB bank is not liable if the correspondent bank or recipient bank has failed to adhere to the instructions given by SEB bank or if the credit transfer has not been received in full due to other reasons not controlled by SEB bank. SEB bank has the right to withhold the commission fees claimed by the recipient bank or otherwise related to the payment from the Customer’s account without acceptance.
