Cross-border payment

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 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.

Main features:

• Money can be transferred to most of the banks worldwide
• The money transfer can be standard, urgent and express (the duration depends on the currency, the location of the remitter's bank and the time of filing the order)
• The cost of transfer can be covered entirely by the payer (OUR) or the payer pays SEB Bank commission fees and the payee pays other bank commission fees (SHA)

This money transfer includes:

• all transfers in foreign currency (other than in euro) to other Lithuanian-registered banks or other countries
• transfers in euro to banks registered in other countries, with the exception of the European Union, the European Economic Area countries, United Kingdom, Switzerland, Monaco, San Marino, Andorra, Vatican City State
• money transfers in all currencies if the payee's or payer's account number is not in the IBAN format

The complete list of payment currencies in which cross-border transfers are carried out

A standard cross-border payment order is executed after 2 banking days, if the payment order is submitted by 10:00 p.m. on a banking day.
If the payment order is submitted after above mentioned time or on non-banking day, funds transfer will be executed one banking day later.

An urgent cross-border payment is executed next banking day, if the payment order is submitted by 3:00 p.m. on a banking day.
If the payment order is submitted after above mentioned time or on non-banking day, funds transfer will be executed one banking day later.
In case of CNY, INR, QAR, SAR currencies, no urgent cross-border payments may be executed.

An express cross-border payment is executed on the same banking day, if payment order submitted in:

• EUR, USD, CAD, GBP by 4.30 p.m.
• BGN, CZK, HRK, KZT, MXN, RON, RSD, UAH by 10:00 a.m.
• DKK, HUF, PLN by 1:00 p.m.
• CHF, NOK, SEK by 3:00 p.m.

If the payment order is submitted after above mentioned time or on non-banking day, funds transfer will be executed one banking day later.
In case of AUD, CNY, HKD, ILS, INR, JPY, NZD, QAR, SAR, SGD, TRY, ZAR currencies, no express cross-border payments may be executed.

¹ OUR – a payer pays SEB Bank and other bank commission fees. Other bank commission fees are debited from the payer's account.
² SHA – a payer pays SEB Bank commission fees, the payee pays other bank commission fees, except where a fee cannot be debited from the payee's account in accordance with the rules set by the other bank.

Member states are the countries of the European Union and the European Economic Area.
Only shared charges (SHA) are allowed if payee‘s bank is registered in the European Union  or the European Economic Area country, United Kingdom, Switzerland, Monaco, San Marino, Andorra, Vatican City State. Cross-border payment to the countries listed above are not executed if the bank fees are paid only by the payer (OUR).

Foreign currency is a currency other than the euro.

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.

If funds are transferred:

• from the account of another SEB client, they will be credited in the payment currency, if this is the currency in which your account is maintained (unless agreed otherwise). If the currencies do not match, the funds received will be converted to the main currency of your account at the base rate of exchange.
• from any other bank, the money is credited in the payment currency, unless a different crediting procedure is agreed

What should you specify to the remitter for money to be credited to your account?

If you are expecting money transfer to your account with the SEB from abroad, you should specify to the remitter following details:

• The correct number of your account with the SEB in the IBAN format (the funds are credited to the account based on the number)
• Your first name and surname
• Your residential address
• Bank name (AB SEB bankas) and SWIFT code (CBVI LT 2X)
• Exact name and SWIFT code of the nostro correspondent bank abroad

Restrictions in making and receiving payments in US dollars

SEB bank provides US dollar payment service only to persons and companies that have indicated their place of residence or company registration in Lithuania. 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 residence or company registration

Countries and territories subject to restrictions on payments

Due to international sanctions, mutual rules set by correspondent banks, SEB Group‘s and SEB bank‘s internal policies, bank is not supporting payment services to and from Russia and Belarus, also it is restricted to make or receive payments related with countries and territories listed below:

• Iran
• North Korea
• Syria
• Venezuela
• Crimea region of Ukraine

Countries and territories subject to limitations on payments

Due to international sanctions regimes or sanctions evasion risk, mutual rules set by correspondent banks, SEB Group‘s and SEB bank‘s internal policies, certain limitations might be applied for payments related with countries and territories listed below:

Afghanistan, Armenia, Belarus, Azerbaijan, Central African Republic, Transnistria (Moldova), Cuba, Democratic Republic of the Congo, Egypt, Guinea (Republic of), Guinea-Bissau, Iraq, Kyrgyzstan, Lebanon, Libya, Mali, Myanmar (Burma), Nicaragua, Ukraine, Somalia, United Arab Emirates, Lugansk/ Donetsk, Sudan, South Sudan, Zimbabwe, Yemen, Russia, China, Turkmenistan, Pakistan, Turkey.

We may ask to provide additional information and documents if any direct or indirect connection with above mentioned countries or territories was identified, therefore execution of payment may be delayed.

The list of countries and territories is not exhaustive and restrictions may change over time taking into account changes in international sanctions regulation, mutual rules set by correspondent banks, SEB Group‘s and SEB bank‘s internal policies.