SEB will terminate payments to / from Russia and Belarus

Starting on June 1, 2022, SEB will terminate payments to / from Russia and Belarus in all currencies.

This decision has made due to risks related to the war Ukraine, as well as an increasing number of sanctions imposed on Russia and Belarus.

May 31, 2022, will be the last day to make and receive payments to / from Russia and Belarus. Standing orders will be automatically terminated.

After the date mentioned certain exemptions will only be possible if the payments are made / received to ensure critical state functions or to receive pensions.

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What is the reason for the SEB decision in the Baltic states to suspend payments to/from Russia and Belarus?

This decision has made due to risks related to the war Ukraine, as well as an increasing number of sanctions imposed on Russia and Belarus.

How long will it be possible to accept and make payments from/to Russia and Belarus?

Incoming and outgoing payments from Russia and Belarus will be possible until May 31, 2022 (inclusive).

Will it be still possible to make payments after May 31st?

To make transactions with Russia and Belarus, we recommend contacting another financial institution. Payments made after May 31st will be rejected and the funds will be returned to the sender.

After May 31, certain exemptions will only be possible if the payments are made / received to ensure critical state functions or humanitarian purposes, or to receive pensions.

What should recipients of pensions and allowances in Russia and Belarus do?

SEB will continue to process pension payments to/from Russia and Belarus. At the same time, we urge clients to follow the information regarding sanctions, because it is possible to receive pensions and allowances only if the bank from which the payment is made is not on the sanctions list and is not disconnected from the SWIFT system.