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.
Payments in EUR
| Service |
Payment submission type and time |
Price, EUR |
|
via Internet Banking |
via Branch/Telephone Banking |
| Shared |
| Intra-bank payments |
| To own or other person's account at Swedbank Latvia |
Immediately |
Free of charge |
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 accepts the customer’s order.
16:00
|
0.36
Free of charge for account holders of up to 22 years of age.
|
5.00 |
|
Express
Delivery of funds to beneficiary bank or intermediary bank on the same business day, within an hour after the Bank accepts the customer’s order.
16:00
|
15.00 |
20.00 |
| To an account at Swedbank Group Payments to Estonia, Lithuania, Sweden, Norway. |
Economy
Delivery of funds to beneficiary bank or intermediary bank on the same business day as when the Bank accepts the customer’s order.
17:30
|
0.36
Free of charge for account holders of up to 22 years of age.
|
5.00 |
| International payments |
| To other bank outside the European payments area countries (and European payments if beneficiary’s IBAN is not specified) |
|
Shared/Payer |
Shared/Payer |
|
Economy
Delivery of funds to beneficiary bank or intermediary bank 2 business days after the Bank accepts the customer’s order.
Unrestricted
|
12.00 / 23.00 |
15.00 / 27.00 |
|
Standard
Delivery of funds to beneficiary bank or intermediary bank the next business day after the Bank accepts the customer’s order.
16:00
|
15.00 / 27.00 |
20.00 / 30.00 |
|
Express
Delivery of funds to beneficiary bank or intermediary bank on the same business day as when the Bank accepts the customer’s order.
14:00
|
22.00 / 43.00 |
30.00 / 50.00 |
| Additional fee for payments to high-risk and very high-risk countries (effective from 01.06.2025)** |
|
50.00 |
50.00 |
Swedbank does not process International payments to some high-risk countries. More information here.
Time of submitting payment - the latest when the specific type of payment may be submitted. If no time of submitting is indicated, the payment may be submitted as long as the branch is open or at any time in the remote banking channels.
Shared - the price includes only Swedbank's fees; any other payment-related charges (by correspondent bank, beneficiary bank) are covered by the beneficiary. The Bank will remit 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
