How to make international payments

You can make SEPA credit transfers outside Finland in all OP channels: on OP-mobile, OP Business mobile and the op.fi online service, in the company’s bank connection software and OP Corporate Hub. SEPA credit transfers are transferred in euros to SEPA countries. Both the payer and the payee only pay their own bank’s charges (payment’s charge bearer code is SHA). SEPA credit transfers are free of charge for personal customers.

If the receiving bank accepts faster SEPA instant credit transfers and the payment amounts to less than 100,000 euros, the payment is usually transferred to the payee within seconds as a SEPA instant credit transfer. Otherwise, the payment is credited to the payee on the following banking day at the latest.

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-mobile, 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. 

Non-euro payments are mainly made to countries with a currency other than the euro or when it has been agreed that the transaction is carried out in a specific currency. 

If a payment is made from a euro account, you get an estimate of the payment‘s exchange rate from the op.fi online service and OP Corporate Hub before its transfer. If your company has made a foreign exchange transaction for a payment in advance using an exchange rate converter tool, like OP EFX, your payment is transferred at that rate. 

If the receiving bank is a GPI bank, like OP, your payment in EUR, USD, GBP, SEK, NOK, CAD, CHF, DKK and PLN 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 in two days’ time. The processing of the payment can be delayed by local public holidays and so-called cut-off times, for example. If needed, you can speed up the crediting of the payment to the payee within cut-off times by selecting urgent payment order on the op.fi online service, in OP Corporate Hub or the bank connection software. Companies can also select the so-called zero value date payment in the bank connection software, in which case the payment is credited to the payee at best already on the same day.

*If OP’s intermediary bank, the payee’s intermediary bank or a non-bank intermediary institution used is not a GPI bank, the payment will not be transferred as a GPI payment at all stages. In that case, the payment’s transfer will not be as fast and the entire payment journey can only be tracked at the bank.

• Select the account from which you want to make a payment.
• Select a new payment.
• Enter the payee's account number and name.
• Enter the payee's address.
• Enter the BIC (SWIFT address) of the payee's bank or the clearing code. If you select the clearing code, enter the name and address of the payee’s bank.
• Select the country of the payee's bank.
• Select either normal payment order, urgent payment order as the payment method or same day value payment. If you select normal payment order, the payment is transferred to the payee on the same day if the receiving bank is a GPI bank and the payment is in one of the following currencies: CAD, CHF, DKK, EUR, GBP, NOK, PLN, USD or SEK. Otherwise, the payment is transferred in 1–5 days. If you select urgent payment order, the payment is transferred on the next day. If you select same day value payment, the payment is transferred to the payee on the same day.
• Cut-off times:

• Select charges. Unless otherwise agreed, select SHA, in which case you and the payee both pay your own bank’s charges.
• Enter the amount and select the currency of the payment.
• Fill in the other required fields and confirm the payment.