SWIFT services to customers of Swedbank for operations with accounts held with foreign banks (MT940 IN / MT101 OUT)
This service enables the customers of Swedbank to operate with accounts of customers of foreign banks in the internet banking for business clients : to effect payments from accounts held with foreign banks and to receive account statements on accounts held with foreign banks.
In order to ensure this service, pursuant to the concluded agreement the customer of Swedbank authorises Swedbank to receive account statements of the customer of the foreign bank and to display them in the internet banking for business clients and to send payment orders to a foreign bank, for which the orders are given by the customer of Swedbank via internet banking for business clients.
Procedure:
- pursuant to the concluded agreement the customer of Swedbank authorises Swedbank to receive account statements from a foreign bank as regards the account of the customer of the foreign bank and to display these statements to the customer in the internet banking for business clients and/or to send payment orders to the foreign bank as regards execution of payments from the account of the customer of the foreign bank;
- customer of the foreign bank authorises the foreign bank to send his account statements to Swedbank and/or authorises to effect payments, the orders for which are made by Swedbank on behalf of the customer;
- Swedbank concludes a co-operation agreement with the foreign bank;
- foreign bank sends account statements to Swedbank on regular basis and these statements are available in the internet banking for business clients;
- foreign bank executes payments, for which orders are given by the customer via internet banking for business clients.
Advantages:
- customer of Swedbank can control cash flow in the accounts held with foreign banks in a centralised manner;
- this service is available in the internet banking for business clients.
In order to use this service, the following is needed:
- customer of Swedbank has to conclude an agreement with Swedbank;
- customer of the foreign bank must conclude an agreement/draft an authorisation with the foreign bank;
- Swedbank has to conclude a co-operation agreement with the foreign bank. Here 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.
