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  7. Restrictions in cross-border payments

Restrictions in cross-border payments

We have limited the number of countries for sending and receiving cross-border payments.
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What will this change mean to you?

We have limited the number of countries that companies can send money to and receive payments from.

To be able to send and receive cross-border payments, you will need to respond to our customer due diligence questions regarding your company's payments. You can do all of this in Online Banking (currently only in Swedish) or at your local branch.

Log in and respond to customer due diligence questions (in Swedish)Opens in a new window

We understand that this will affect you 

We're here to help you with any questions or concerns you may have. Contact your branch, and we'll help you.

Why are we doing this?

Money laundering and other forms of financial crime are a major problem that is growing in our society today. For us, it is only natural to comply with the international regulations. All banks have an obligation to be aware of the person who is receiving or sending the money, and to understand the origin of the funds, as well as their destination. 

Complying with these regulations for each country is a complicated and costly business. Therefore we conducted a business review of our payment services. We saw that we could not justifying designing expensive procedures for carrying out payments to countries where payment flows are so small that the costs of complying with the regulations would be too high. We have, therefore, made a decision not to offer this service for those countries.