Make sure you have the right information availableYou can prepare by having the name and address of the beneficiary, along with their IBAN and BIC or national bank ID.
Create the payment in Online BankingYou make the payment in Online Banking and can send money in various currencies. When the payment has been registered, you receive a receipt in your e-mailbox in Online Banking.
Select the type of paymentBy selecting the payment type, you can affect how soon the funds will reach the beneficiary’s bank. Normally the funds will arrive within two working days. You can select express if you are in a hurry, in which case the funds will reach the beneficiary’s bank within one working day.
What are IBAN, BIC and National bank ID?
IBAN is an account number written according to a common European standard. By using IBAN, the payment can be made quickly and efficiently while reducing the risk that the payment is incorrect.
BIC (Bank Identifier Code) is an international standard for secure identification of a bank. A BIC always consists of 8 or 11 characters. The first six characters are always letters while the remaining characters can be either digits or letters. A BIC is not mandatory when an IBAN is used.
National bank ID
A national bank ID has the same function as a BIC code to identify a bank. A national bank ID always starts with two letters followed by digits.
Countries open for cross-border payments
Money laundering and other forms of financial crime are a major problem that is growing in our society today. And this is an area where we aim to, and must, take our responsibility as a bank. In order to protect you and ourselves against financial crime, we are limiting the number of countries that you can send money to or receive money from. For private individuals this has applied since 1 July 2020, and for corporate customers it will start to apply from 1 October 2020.
You will continue to be able to send and receive cross-border payments to and from a large number of countries. To be able to continue doing this after 1 October, you will need to contact your local branch office to update your responses to our customer due diligence questions regarding your company's payments.
When will the money arrive?
|At beneficiary bank||Cost||Comment|
|EU payment/SEPA payment in EUR||Within 2 banking days||Online SEK 0
Branch SEK 75
The cheapest and most secure payment method within the EU/EEA. Within the EEA, we always recommend that the currency is EUR.
|EU payment in SEK||Within 2 banking days||Online SEK 0
Branch SEK 75
|SEK payments are only regarded as EU payments in Sweden.|
|Normal||Within 2-3 banking days||Online SEK 60
Branch SEK 150
|Used mostly for payments to countries outside the EU/EEA.|
|Express||Within 1 banking day||Online SEK 350
Branch SEK 450
|The quickest way to send money. Note that it may take a day or two extra depending on the country the money is being sent to.*|
|Nordic customer payment||Same day, 1 banking day at the latest||Online SEK 0
Branch SEK 40
|For transfers to Handelsbanken in Finland, Norway and Denmark|
*Not an option for EUR payments within the EU/EEA or for SEK payments in Sweden.
When making Normal or Express payments, you can choose to also pay the beneficiary’s fees. In addition to the above prices, there is a fee of SEK 150 for this fee allocation, “The remitter pays all fees, including the beneficiary’s fees (OUR)”. Handelsbanken cannot guarantee that other costs will not be charged by a foreign bank and this may be deducted from the remittance amount.
Important when sending cross-border payments
Laws and regulations for cross-border payments
A separate law applies to some forms of payment to and from other countries within the European Economic Area (EEA).
The Swedish Payment Services Act contains regulations on times and costs for payments. It also contains information on applicable regulations if payments are delayed or do not arrive, or if deductions for costs are erroneous.
More efficient cross-border payments
We have joined the SWIFT Global Payment Initiative (GPI). This ensures more efficient processing of payment flows. As a customer, you will be able to track payments in a better way, and receive confirmation when your payment has reached the recipient.