International payment on the clients order is a money transfer, which is made by Tallinn Business Bank through a foreign correspondent bank, using SWIFT system.
The following conditions are necessary for international payment:
• clients account with the Tallinn Business Bank
• sufficient balance on clients account
• presentation of a payment order, with all the necessary details and requisites, either on paper or using electronic banking facilities ( Internet Bank)
Terms of international payments
• Ordinary payment order. To be presented until 13-00 local time. Bank executes the payment according formula T+2, where T is the date when amount is debited from clients account
• Urgent payment order. To be presented until 13-00 local time. Bank executes the payment according formula T+1.
• Express payment order. To be presented until 13-00 local time. Bank executes the payment according formula T+0.
We draw your attention, that in connection with PSD requirements in case of payments in EEK, EUR, DKK, GBP, SEK, LTL, LVL, HUF, PLN, CZK, CHF or NOK, the following option should be generally used: SHARED. Option OUR in case of mentioned currency payments is allowed only when the beneficiary is situated outside the following countries: Estonia, Austria, Belgium, Bulgaria, Spain, Ireland, Italy, Greece, Cyprus, Latvia, Lithuania, Luxembourg, Netherlands, Malta, Poland, Portugal, France, Sweden, Romania, Germany, Slovakia, Slovenia, Finland, Denmark, Czech Republic, United Kingdom, Hungary, Norway, Iceland, Liechtenstein. Also option OUR is allowed when the transaction includes conversion from one currency to another.
Please also note that the term of presentation of claims has been increased to 13 months starting from the transaction date.
Questions: ph. (372) 6688031