You can make euro payments nearly anywhere in the world through OP. We comply with international sanctions and do not transfer payments to countries subject to sanctions (such as North Korea).
You can make euro payments outside the SEPA on the op.fi service, in the company’s bank connection software, OP Business Mobile and OP Corporate Hub.
If the payment’s currency has not been agreed with the payee, it is advisable to always make the payment in the receiving country’s local currency. In that case, you will get an estimate of the payment’s exchange rate before the payment is executed.
If you have regular payments in some currency, you may consider opening a currency account.
If you make a payment to a country with a currency other than the euro, then the receiving bank will typically convert the payment into the country’s local currency, corresponding with the currency of the payee’s account.
We also offer exchange rate converter tools for companies making regular currency payments with which a payment’s exact exchange rate can be determined in advance.
When paying in euros outside the SEPA, you need to select the charge bearer code used in international payments. The alternatives include SHA, OUR and BEN.
The most typical charge bearer code is SHA, which means that both you and the payee only pay your own bank’s charges.
The second most common charge bearer code is OUR. In this case, you pay more charges so that the receiving bank would not deduct charges from the payment amount. The OUR charge bearer code is typically used when paying foreign taxes.
The rarest charge bearer code is BEN. When used, OP deducts a charge from the payment amount and the receiving bank does the same.
If thereceiving bank is a GPI bank, like OP, your euro payment is usually transferred to the payee on the same day. Otherwise, your payment is usually credited to the European Economic Area on the following day and elsewhere in the world usually after two days. The processing of the payment can be delayed by local public holidays and so-called cut-off times, for example.