Laiva satamalaiturissa.

Incoming international payments

Payments from abroad easily into your corporate account

Collecting payments from abroad to your corporate account is easy and simple by means of OP's extensive network of international partners. A single account with OP is all that you need; no other agreements are needed.

When your company is engaged in exports or receives regular payments from abroad, it is advisable to receive the payments as payment orders, which is a safe, low-cost and, in many cases, the most recommended payment method. The amounts come into the account quickly in case the payer has your company's full bank account details.

Accepting foreign cheques at cooperative banks will end, and as of 1 April 2019 we only accept cheques to be recovered by distraint. Do try to avoid accepting cheques as payment, as gaining access to your funds will take time and cost you money.

If you know that you will receive a payment, provide the payer with the following information:

1. The cooperative bank’s BIC, always OKOYFIHH
2. Your IBAN, with the initial letters FI, which you find on the OP eService and on your bank statement.

When your company makes international payments regularly, it might be sensible to open an account in the country in question. You can open an account with a foreign bank for your company or your company's foreign subsidiary through OP's extensive network.

Your foreign account can be used to receive payments from local customers or make payments to local suppliers, and this is how your company can make use of the benefits from local transactions.

Please contact your own OP member cooperative bank and together we will find the best solutions for the needs of your company's international cash management.