High-risk countries to which outgoing payments are not processed
In order to mitigate international payment risks in line with its low-risk banking strategy, Swedbank AS will discontinue outgoing payments to several high-risk countries from 01.09.2023. These countries are:
Afghanistan; American Samoa; Anguilla; Aruba; Belize; Bhutan; Bonaire, Sint Eustatius and Saba; British Virgin Islands; Brunei Darussalam; Burkina Faso; Burundi; Central African Republic; Chad; Comoros; Cook Islands; Democratic People's Republic of Korea (North Korea); Djibouti; East Timor (Timor Leste); El Salvador; Equatorial Guinea; Eritrea; Eswatini (Swaziland); Fiji; Gambia; Grenada; Guinea; Guinea-Bissau; Haiti; Islamic Republic of Iran; Iraq; Kiribati; Lesotho; Marshall Islands; Mauritania; Myanmar (Burma); Federated States of Micronesia; Montserrat; Nauru; Niger; Niue; Northern Mariana Islands; Palau; Papua New Guinea; Saint Helena; Saint Lucia; Saint Vincent and the Grenadines; Samoa; Sao Tome and Principe; Syria; Solomon Islands; Somalia; South Sudan; Suriname; Tonga; Turks and Caicos; Tuvalu; Vanuatu; Bolivarian Republic of Venezuela; Wallis and Futuna; Western Sahara.
A payment can be executed as an instant payment within seconds at any time (24/7), provided that:
- The payment made via Internet Banking or the mobile app.
- The beneficiary's account is with a payment institution registered in Latvia that has joined the instant payments system.
- The payment amount for an outgoing payment does not exceed 15,000 EUR.
If the beneficiary bank cannot accept the payment as an instant payment, other obstacles to its execution exist or additional checks are required for its execution, the instant payment may be rejected and processed as an economic euro-denominated payment to the European payment area countries.
Service |
Payment submission type and time |
Price, EUR |
|
via Internet Banking |
via Branch/Telephone Banking |
Shared |
Active Tariff |
Basic Tariff |
|
Intra-bank payments |
To own Swedbank account in Latvia |
Immediately |
Free of charge |
Free of charge |
5.00 |
To other person's Swedbank account in Latvia |
Immediately |
Free of charge |
0.00 - 0.21
- Standard - 0.21 - Newly created companies that open an account within year of registering the company, first year - 0.00.
|
5.00 |
European payments* |
To other bank in Latvia (incl. instant payments) or to the European payments area countries |
Economy
Delivery of funds to beneficiary bank or intermediary bank on the same business day as when the bank has accepted the customer’s order.
16:00
|
0.36 |
0.57 |
5.00 |
Express
Delivery of funds to beneficiary bank or intermediary bank on the same business day, within an hour after the bank has accepted the customer’s order.
16:00
|
15.00 |
20.00 |
20.00 |
To an account at Swedbank Group
Payments to Estonia, Lithuania, Sweden, Norway.
|
Economy
17:30
|
0.36 |
0.57 |
5.00 |
International payments |
|
Shared/Payer |
Shared/Payer |
Shared/Payer |
Active Tariff |
Basic Tariff |
|
To other bank outside the European payments area countries (and European payments if beneficiary’s IBAN is not specified) |
Economy
The money will be delivered to the beneficiary bank after two business days, as from the moment when the bank has accepted the customer's order.
Unrestricted
|
12.00/23.00 |
15.00/27.00 |
15.00/27.00 |
Standard
The money will be delivered to the beneficiary bank on the next business day, as from the moment when the bank has accepted the customer's order.
16:00
|
15.00/ 27.00 |
20.00/ 30.00 |
20.00/ 30.00 |
Express
The money will be delivered to the beneficiary bank on the same business day, as from the moment when the bank has accepted the customer's order.
14:00
|
22.00/ 43.00 |
30.00/ 50.00 |
30.00/ 50.00 |
Additional fee for payments to high-risk and very high-risk countries (effective from 01.06.2025)** |
|
100.00 |
100.00 |
100.00 |
Swedbank does not process International payments to some high-risk countries. More information here.
Payment submission time - the latest when payment of this type may be submitted. If the payment is submitted after this time, one more business day will be added to the execution time of the payment. If submission time is not indicated, the payment may be submitted during business hours of the particular branch / sub-branch or remote banking channel.
Shared - one of the two commission paying options selected by the customer when making a payment; the charge includes Swedbank's commissions only; any other payment-related charges (of correspondent bank or beneficiary bank) are payable by the beneficiary (payee). The bank will transfer the payment to the correspondent bank or the beneficiary bank with a note "SHA" in the corresponding S.W.I.F.T. message field "Details of Charges". The payment will be credited to the beneficiary's account by the beneficiary bank after deduction of all charges, if any, from the payment amount.
Payer - the payer undertakes to cover all costs associated with the payment, including any extra fees charged by the banks involved in execution of the payment. The Bank is entitled to debit them from the Customer’s Account without any additional approval by the Customer. The Bank assumes no responsibility for non-compliance, by any of the banks involved (correspondent bank or beneficiary bank), with the Bank’s instructions or for not receiving the full amount of the payment due to other reasons beyond the control of the Bank.
*European payments or SEPA (Single Euro Payments Area) - euro payments to a European bank (bank, that is located in EU member states and in the United Kingdom, Andorra, Gibraltar, Iceland, Liechtenstein, San Marino, Monaco, Norway, Switzerland and Vatican (Holy See).
** The additional fee is charged for payments to countries which, according to the EU list of high-risk third countries, the Financial Action Task Force (FATF) list of high-risk countries and countries under increased monitoring and the restrictive measures under the sanction regime, are considered by the bank to be high-risk and very high-risk countries and/or where further evaluation is necessary. The list of the countries is available here. The additional fee is debited in one payment together with the payment execution fee according to the price list.
Effective from 01.09.2023