Payments abroad

Is your company engaged in imports? You have two options to make payments to your foreign business partners.

Making payments from an account in Finland

You can open a euro or non-euro account for your company and make international payments from the account. This is the most cost-effective solution for your company when outgoing payments meet the criteria for SEPA credit transfers. The charges equal those for comparable domestic payments. Your company's cash is in a single place and no time is wasted for managing new accounts.

If outgoing payments are in a currency other than the euro, your company's business partners will have to pay the charges for the incoming international payment in their own home country. In addition, your company will pay the charges for an outgoing international payment in Finland.        

Making payments from a foreign account

Your company opens an account in a country where your company's business partner operates. This is the most cost-effective solution when outgoing payments are other than euros. Even a fairly small number of payments make an account held abroad a more cost-effective option, e.g. 10 payments in Sweden and some 20 payments in other countries per month.

The payments are readily available in the account of your company's business partner, even on the same or following day, depending on the country (NB. 2‒3-day delay in Great Britain). Both partners pay only the charges of domestic payment. Through the account, it is possible to pay, say, salaries and other expenses of a sales office.
Customer relationship with a bank based in your business partner's home country gives added value to your international trade customer relationships and may lift barriers to trade.

Your company can easily open a bank account with our partner banks across the world. We will contact a foreign bank for your company and find out local practices and requirements for various documents.

Please contact your own member cooperative bank and we will be pleased to support your company in the account opening process and help you in challenges presented by going global. Together we will find the best solutions for the needs of your company's international cash management.

You can open an account with a foreign bank for your company or its foreign sales or subsidiary company through OP.

Your company can open a UniCash account through OP in 25 European countries and the USA according to a pre-agreed, simple model. The UniCash network gives your company access to over 40,000 branches and a customised OP service package.

The service includes

  • opening an account at your local OP cooperative bank, quickly and easily
  • daily bank statement into your company's bank connection software
  • managing the account through your company's own bank connection software from Finland
  • collecting payments into an account with a foreign bank
  • making payments from the account with a foreign bank.
  • transferring funds in the account between banks without lost value days.
If your company engages in foreign trade in a non-euro currency, it is advisable to open a currency account with OP.
Our outgoing international payments enable your company to make payments outside the SEPA or in a non-euro currency.