Services for customers of foreign banks for operations with accounts at Swedbank

Services for customers of foreign banks for operations with accounts at Swedbank

Services for customers of foreign banks for activities with accounts held with "Swedbank" AS using SWIFT MT940 OUT / MT101 IN

This service enables the customer of the foreign bank to operate with accounts of the customer of Swedbank: to effect payments from accounts held with Swedbank and receive account statements on accounts held with Swedbank.
In order to ensure this service, pursuant to the agreement concluded the customer of Swedbank authorises Swedbank to send account statements to the foreign bank and to effect payments from the account of the customer held with the Bank, the orders for which are given by the foreign bank on behalf of the foreign customer by using SWIFT system.

Procedure:

  • Сustomer of the foreign bank authorises the foreign bank to receive account statements of the customer of "Swedbank" AS and/or to send payment orders on execution of payments from the account of the customer of Swedbank;
  • Сustomer of Swedbank authorises Swedbank to send his account statement to the customer of the foreign bank and/or authorises to effect payments, the orders for which are given by the foreign bank on behalf of the foreign customer;
  • Swedbank concludes a co-operation agreement with the foreign bank;
  • Swedbank sends account statements to the customer of the foreign bank on regular basis;
  • Swedbank executes payments, the orders for which are given by the foreign bank on behalf of the foreign customer.

Advantages:

  • Сustomer of the foreign bank can control the cash flow in accounts held with Swedbank in a centralised manner;
  • Еhis service is provided to the customer of the foreign bank by his foreign bank ( there is no need for any separate agreements with Swedbank)

In order to use this service, the following is needed:

  • Сustomer of the foreign bank must conclude an agreement/draft an authorisation with the foreign bank;
  • Сustomer of Swedbank has to conclude an agreement with Swedbank;
  • Swedbank has to conclude a co-operation agreement with the foreign bank. At "Useful links" you can learn more about the foreign banks with which Swedbank has concluded a co-operation agreement. Upon proposal of the customer it is possible to conclude co-operation agreements also with other foreign banks.

You can receive more detailed information on solutions offered by Swedbank by contacting the bank via e-mail: cashmanagement@swedbank.lv.

Stäng Skriv ut