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International Bank Account Number (IBAN) is the international standardised format of your account number. Using the correct IBAN on the payment order guarantees that money moves faster, and you save on costs. International payment fee is applied when the beneficiary’s IBAN is not indicated in the payment.

Verification of beneficiary for domestic and European payments is performed if:

  • It is made via internet banking or mobile application
  • Submission type is instant or economy
  • The beneficiary's bank is located in an EU member state whose currency is the euro
  • The beneficiary's bank provides Verification of beneficiary from their side

If the name, surname, or title of the beneficiary specified in the payment order does not match or has a close match with the account holder's details specified in the payment order, a notification will be displayed. If specified beneficiary details do not match those of the account holder or if beneficiary verification is not possible, customer can choose whether to confirm the payment. Confirming such a payment may result in transferred funds being credited to an account that does not belong to the specified beneficiary.

A payment can be executed as an instant payment, provided that:

  • Instant payments have been enabled
  • The beneficiary's account is with a payment institution registered in European payment area countries that has joined RT1 or TIPS system of instant payments
  • The date of payment execution is not set in the future

Instant payments can be received from European banks that have joined RT1 or TIPS system of instant payments.

A convenient and simple way to transfer money

  • Money transfer is fast and available 24/7
  • User-friendly and simple payment form
  • Get notifications about payments

Payments between any Swedbank Latvia accounts.

  • Payment in euros or foreign currencies
  • Beneficiary will receive money within seconds 24/7

Make payments in Internet Banking or mobile app at any time.

Required payment data:

  • Beneficiary name and surname or company name (for companies only)
  • Beneficiary account number in IBAN format
  • Payment description or number of the bill/agreement/customer etc. if making a payment for services

Payments between any Swedbank Latvia accounts is transferred immediately at any time of the day.
  • Payment form will suggest a recipient if you‘ve made a payment like this before.
  • Future Payment - schedule payments ahead of time up to 1 year in advance (sufficient funds required in the account upon execution).
  • Standing orders for frequent or repeating transactions.

For Internet Banking and mobile app transfers between two Swedbank Latvia accounts, we automatically check if the IBAN number matches the indicated name and surname or company name. If they don't match, we'll let you know. This way you can ensure that you make a transfer to the intended recipient.

  • Domestic payments: payments in EUR to other banks in Latvia

  • European payments or SEPA (Single Euro Payments Area) - payments in EUR 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, Vatican (Holy See), Albania, Republic of Moldova, Montenegro and Republic of North Macedonia), if beneficiary’s IBAN is specified.

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. It is possible to reinitiate the payment as a European payment with the submission type “economy”.

Make payments any time in Internet Banking or mobile app.

Types of payment execution:

  • Instant Payments: executed within seconds at any time (24/7). If the payment can be executed as an instant payment the priority will be set automatically.
    The Instant payment limit by default is equal to the daily payment limit in the Remote Banking Services agreement, which can be changed or disabled in the section User rights and payment limits.
  • Economy payments are done 5 times a day (weekdays days only, excluding public holidays). Funds will be delivered to beneficiary bank or intermediary bank on the same business day as when the Bank accepts the customer’s order (if order submitted by 4 PM).
  • Express payments are delivered to beneficiary bank or intermediary bank on the same business day, within an hour after the Bank accepts the customer’s order. A higher fee applies to express payments.

Don’t confirm transactions or login attempts in internet bank or app, which are not initiated by you. Avoid transferring money if you have any doubts. More about secure banking here.

  • Payment form will suggest a recipient if you’ve made a payment like this before
  • The fee will be displayed before you submit the transfer
  • Verification of beneficiary provides validation of the beneficiary's data and account number in the beneficiary’s bank
  • Future Payment - schedule payments ahead of time up to 1 year in advance. Sufficient funds required in the account upon execution
  • Standing orders for frequent or repeating transactions
 International payments:
  • Payments in EUR and foreign currency outside European payments* area countries
  • Foreign currency payment to another bank in Latvia or to European payments* area countries

* European payments or SEPA (Single Euro Payment Area) - payments in euro currency to a European bank (banks located in an EU member state and the United Kingdom, Andorra, Gibraltar, Iceland, Lichtenstein, San Marino, Monaco, Norway, Switzerland and the Vatican (Holy See), Albania, Republic of Moldova, Montenegro and Republic of North Macedonia).

Make payments any time in Internet Banking or mobile app.

Types of payment execution:

  • Economy payments are delivered to the beneficiary bank or intermediary bank two business days after the bank accepts the customer's order
  • Standard payments are delivered to the beneficiary bank or intermediary bank the next business day after the bank accepts the customer's order. A higher fee applies
  • Express payments are delivered to beneficiary bank or intermediary bank on the same business day, after the Bank accepts the customer’s order. A higher fee applies
  • Payment submission times and fees are specified in the price list

Required payment data:

  • Beneficiary's name and surname or company name
  • Beneficiary's account number
  • Beneficiary's address
  • Beneficiary bank's name and address
  • Bank’s SWIFT or BIC code
  • Payment description or bill/agreement/customer number, etc.
  • Depending on the payment currency and the beneficiary's country, additional payment details might be required. Find out more

Always check the beneficiary and the beneficiary's account number, as banks are entitled to credit funds to the beneficiary's account based solely on the account number specified in the payment order, disregarding the beneficiary's name indicated in the payment.

  • The fee will be displayed before you submit the transfer
  • A message copy of the outgoing international payment is available for free in the internet banking for 365 days
  • Future Payment - schedule payments ahead of time up to 1 year in advance (sufficient funds are required in the account at the time of execution in the payment currency and funds for payment fee in EUR)
  • Standing orders - great option if you make frequent or repeating transactions
  • Correspondent banks for incoming payments
  • General information about financial sanctions
  • Secure banking

General Conditions

  • Payments in EUR

    Payments in EUR

    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 or to the European payments area countries Instant

    A payment can be executed as an instant payment, provided that:

    • Made via Internet Banking or the mobile app
    • Instant payments have been enabled
    • The beneficiary's account is with a payment institution registered in European payment area countries that has joined RT1 or TIPS system of instant payments
    • The date of payment execution is not set in the future

    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. It is possible to reinitiate the payment as a European payment with the submission type “economy”.

    24/7     		0.36 0.57 -
    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 (incl. instant payments to Estonia and Lithuania) 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 Payment Area) - payments in euro currency to a European bank (banks located in an EU member state and the United Kingdom, Andorra, Gibraltar, Iceland, Lichtenstein, San Marino, Monaco, Norway, Switzerland, the Vatican (Holy See), Albania, Republic of Moldova, Montenegro and Republic of North Macedonia).

    ** 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

  • Payments in Foreign Currency

    Payments in Foreign Currency

    To own or other person's account at Swedbank Latvia

    Service Payment execution mode Price, EUR
    via Internet Banking via Branch/Telephone Banking
    Active Tariff/Basic Tariff
    To own Swedbank account in Latvia
    All foreign currencies Immediate Free of charge 5,00
    To other person's Swedbank account in Latvia
    All foreign currencies Immediate Free of charge/ 0.21 5.00

    Effective from 01.08.2021
  • A payment can be cancelled within 15 minutes by calling the bank on 67 444 444. If the payment has been made between Swedbank accounts, as an instant payment to another bank, through BankLink, or initiated from Payment Service Provider (Open Banking), then it cannot be cancelled. In such an event, there’s an option to request payment revocation.
  • A payment can be revoked by filling out the bank message form ”Cancellation/investigation of payment”. The fee specified in the price list will be charged and the returning of funds is not guaranteed because an executed payment can only be revoked if the funds are recovered from the payee.
  • A payment can be corrected by calling the bank on 67 444 444 and afterwards filling out the bank message form ”Cancellation/investigation of payment”. The fee specified in the price list will be charged. If you need to change the payment amount, currency or beneficiary bank, it is necessary to request the payment revocation.
If the account lacks sufficient funds to execute economy or standard payments, the waiting time is 10 calendar days; however, express payments are cancelled immediately. You can verify that by checking the account statement or payment history.

This could be due to a couple of reasons:

  • The account lacks funds in payment currency and/or funds for payment fee in EUR, if applicable.
  • The payment has been prepared with a future date (in such an event the payment status will be “Awaiting execution date” under “List of payments”).

If none of the reasons above match your situation, send us a message via Internet Banking or call the bank on 67 444 444.

 You need to fill out the bank message form “Claim for unauthorized (I have not made) internetbank payment” . IBAN (International Bank Account Number) is a bank account granted to clients in banks and credit institutions according to the international ISO13616 standard. IBAN always starts with the country code of the respective European country, for example, LV, DE, IT. Additionally, compliance with IBAN of the beneficiary's account number of any country may be checked with the IBAN verification calculator. You can view the IBAN structure of some countries on the home page of European Banks standards here. One should note that IBAN accounts in other countries usually is not equal to the one used in Latvia, after the country code there may be both letters and digits used. AMK, or external payment code, is information required by the state about payments made from Latvia to foreign countries. The code for such payments must be assigned according to the classifier where every external payment purpose is assigned a three-digit payment code according to the international standards of payment balance. Payment codes are divided in 9 groups according to standard items in the payment balance. For further information, see here. The beneficiary’s reference number is assigned by the payment beneficiary. Upon receiving the payment, the beneficiary automatically gets notified in the accounting system that the invoice has been paid. Normally, this happens if the payer selects “Shared” or “Beneficiary” as the fee type when making the payment. In such an event, a part of the fee or the entire fee (if any) for the payment is withheld from the payment amount.
Currency Country of destination Necessary data
USD USA
  • ABA ROUTING or FW code (9 digit code) which should be indicated in the field beneficiary bank’s clearing code;
  • name of beneficiary's bank;
  • city and country of beneficiary's bank;
  • SWIFT code (if ABA ROUTING or FW code not mentioned).
USD Any other country (Germany, UK, etc.)
  • Name of beneficiary's bank;
  • City, country of beneficiary's bank;
  • SWIFT code - consists of 8 or 11 characters, out of which the first 6 characters are always letters, e.g.: CBVILT2X, HABAEE2X, BKTRUS33;
  • Name of correspondent bank;
  • SWIFT code of correspondent bank. Correspondent bank is usually one of the U.S. banks, but there may be exceptions.
EUR Countries where IBAN is mandatory for international payments IBAN account
GBP United Kingdom
  • IBAN account;
  • SORT CODE - 6 digits code to be indicated in the field beneficiary bank’s clearing code;
  • Beneficiary's account number with 8 digits (if the IBAN account is not known);
  • Name of beneficiary's bank;
  • City and country of beneficiary's bank.
All Canada
  • SWIFT code;
  • Name of beneficiary's bank;
  • Beneficiary name;
  • Beneficiary account number. Transit number (5 digits) should be indicated before the beneficiary's account number if the Canadian Payments Association Payment Routing Number – 9 digits is not provided;
  • Canadian Payments Association Payment Routing Number – 9-digit bank code should be indicated in the beneficiary bank's clearing code field if the Transit Number (5 digits) is not specified;
  • If the beneficiary's details include an 8-digit clearing code or if the program does not recognize the specified clearing code, then it should be indicated next to the bank's name;
  • Beneficiary's full address: street, city, country.
All Ukraine Beneficiary's full address: street, city, country
All United Arab Emirates, Moldova, Georgia, Pakistan, Jordan, Israel, Kuwait IBAN account

According to Chinese Republic law International payments in CNY are not allowed from/to private persons. International payments in CNY between Companies are allowed only for Chinese Companies which have local license to receive international payments in CNY. Bank has the right (as per correspondent bank requests) to require and customer has liability provide to bank export-import documents or other trade documentation.

CNY payments mandatory requirements:

  • Beneficiary’s bank name, address and branch name.
  • Beneficiary’s bank (branch) BIC (SWIFT code).
  • Beneficiary’s bank’s branch 12-digit code – CNAPS number (should be provided in the field beneficiary bank’s clearing code). Example: Beneficiary’s bank: CNxxxxxxxxxxxx, BANK OF CHINA, NO.1 FUXINGMEINEI ST. XICHEN DISTRICT, BEIJING
  • Beneficiary’s full name and address.
  • Payment details and business category codewords that you can choose from Chinese business category codewords, e.g. (/GOD/ - goods or /STR/ - services). Example: Payment details: /GOD/ payment for clothes, invoice No. 123, contract No.5 etc.

If mandatory details are missing payment will be cancelled.

To avoid delays in effecting payments in Indian rupees (INR), the following information must be indicated in the payment order:

  • Beneficiary (full name of the person or company name), beneficiary’s account number, address and, preferably, beneficiary’s phone number;
  • Beneficiary’s bank, including the full name and address of the branch of the beneficiary’s bank;
  • Beneficiary bank’s SWIFT code;
  • It’s obligatory to indicate the bank’s IFSC code (11-character code identifying the beneficiary bank). IFSC code should be provided in the field beneficiary bank’s clearing code;
  • The payment details must clearly specify what the payment is for. For example: payment for clothes, invoice no. 123, contract no. 5, etc.
  • The payment details may not contain the word “loan”.

To avoid delays in effecting payments in Israeli shekels (ILS), the following information must be indicated in the payment order:

  • Beneficiary (full name of the person or company name);
  • Beneficiary bank’s SWIFT code;
  • It’s obligatory to indicate the beneficiary's account number in IBAN format (23 digit number).
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LV-1048, Latvia
BIC/S.W.I.F.T.: HABALV22
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