What information is required for foreign payment initiation

  • Name, address and account number of beneficiary
    When making a payment to the beneficiary’s account opened in the bank which is located in European Union, account number must be IBAN (International Bank Account Number) In case of other countries, it might be different as each country has their own rules and standards.

    In the absence of the beneficiary’s name and address, the beneficiary's bank may refuse to execute the incoming payment.
  • Payment type
    Payment type provides an opportunity to determine how fast the bank will execute the payment. There is possible to choose between three options - normal, urgent or extra urgent, depend on payment currency. If the payment type is not specified, it is considered to be normal.
  • Beneficiary's bank code - SWIFT/BIC
    BIC (Bank Identifier Code) or SWIFT-code is an 8- or 11-digit combination of letters and numbers which serves to identify a credit institution. You can check a BIC/SWIFT code from the public register of SWIFT/BIC codes (www.swift.com).
    If you fail to specify the beneficiary’s bank SWIFT/BIC, the bank may deduct an additional fee specified in the pricelist of the bank for manual processing of the payment order.
    For USD payments to the USA, instead of the SWIFT code you may specify the national clearing code ABA/ Routing No.(FW) that consists of 9 digits.
  • Details of payment
    You need to indicate the purpose of the payment. It should be a specific and short text, not more than 140 characters.
  • Type of Service fee
    Depend on type, the service fees will be deducted from your account according to the valid price list. The distribution of expenses depends on the agreement between the payer and the beneficiary. The following options are available:
    - SHA – the payer will pay the Danske Bank’s fees for the international payment order; the beneficiary will pay the charges of the foreign bank
    - OUR – the payer will pay all the charges for the international payment order, both Danske Bank’s charges and the charges applied by the foreign bank. In this case the beneficiary receives the entire amount of the transfer. Please note that charges of other banks may be deducted from the amount transferred, if the international payment order is processed in US dollars
    - BEN – the beneficiary will pay all the charges for the international payment order, both Danske Bank charges and the charges applied by the foreign bank. Therefore the beneficiary does not receive the full amount transferred

    For payment orders to EU and EEA only SHA option is available.
  • Correspondent bank -  not necessary

    It is not necessary to specify the correspondent bank of the beneficiary’s bank (except for payments in RUB).

    Danske Bank will select an optimal correspondent bank of the beneficiary’s bank. If the customer specifies the correspondent bank, Danske Bank will process the payment order according to the customer’s request. Please note, that if the correspondent bank is specified incorrectly, foreign bank may return the amount transferred or charge in addition for the payment order. When specifying the correspondent bank of the beneficiary’s bank, the SWIFT BIC of the beneficiary’s bank must be specified. In the event of failure to specify the SWIFT BIC of the beneficiary’s bank, Danske Bank may deduct an additional charge as specified in the pricelist of the bank for manual processing of the payment order.

  • Additional information for payments in RUB
    • Beneficiary bank details
      - The bank’s BIK code (9 digits). SWIFT BIC does not need to be specified
      - The correspondent bank account number (20 digits starting from digit 3; the last three digits of the correspondent account must coincide with the last three digits of the BIK code)
      - The full name and address of the beneficiary's bank
    • Beneficiary details:
      - The beneficiary’s INN number (if the beneficiary is a legal entity, the number consists of 10 digits; if the beneficiary is a private person, the number consists of 12 digits)
      - If the beneficiary is a private person –name, surname and father’s name must be specified.
      - The beneficiary’s bank account number – 20 digits starting from digit 4.
    • Payment purpose
      - VO (currency operation) code that usually consists of 5 digits. See the list of VO codes.
      - Exact payment purpose – the number and date of the contract or the number and data of the invoice.

How long does it take to transfer money?

  • Payment type - normal
    • EUR payment to EEA counties are executed within one business day
    • The rest of payments are executed within two business days
  • Payment type - urgent
    • All payments accepted by bank by 3:00 p.m. on a business day are executed within one business day
    • All payments accepted by bank after 3:00 p.m. on a business day or on a non-business day are executed within two bank business days
  • Payment type - extra urgent
    • EUR and USD payments accepted by bank by 3:00 p.m. on a business day are executed on the same business day
    • EUR and USD payments accepted by bank after 3:00 p.m. on a business day or on a non-business day are executed on the next bank business day
    • DKK, GBP, NOK, SEK and PLN payments accepted by bank by 12:00 p.m. on a business day are executed on the same business day
    • DKK, GBP, NOK, SEK and PLN payments accepted by bank after 12:00 p.m. on a business day or on a non-business day are executed on the next bank business day
  • Foreign payments within Danske Bank A/S Group Banks
    • Payments between Danske Bank customers in Lithuania and Latvia are instant in any currency (except CNY). The payment order is processed immediately, any calendar day including non-business days
    • Payment orders in, BGN, CHF, CZK, DKK, EUR, GBP, HUF, ISK, NOK, PLN, RON, SEK or USD, accepted by bank by 4:00 p.m. on a business day are executed on the same business day
    • Payment order in, BGN, CHF, CZK, DKK EUR GBP, HUF, ISK, NOK, PLN, RON, SEK or USD, accepted by bank after 4:00 p.m. on a business day or on a non-business day are executed on the next business day
    • Payment orders in other currencies accepted by bank by 12:00 p.m. on a business day are executed within one business day
    • Payment orders in other currencies accepted by bank after 12:00 p.m. on a business day or on a non-business day are executed within two business days

Revocations, investigations and amendments related to foreign payments

  • Revocation

    Revocation

    A customer may submit a request to cancel an international payment order after the order has been submitted to the bank.

    • If the amount of a payment transaction has not been transferred to the beneficiary’s bank or the intermediary bank – Danske Bank will re-credit the payment amount to the payer’s account.
    • If the payment order has already been transferred to the payee’s bank or the intermediary bank – Danske Bank is able only to recall the payment and will return the payment amount to the payer only after the payment is returned and refunded to the bank. Danske Bank takes no responsibility for the actions taken by the intermediary bank or the beneficiary's bank for cancellation of payment orders and return of the transferred amount.

    Fees for processing of the payment order will not be reimbursed.
  • Investigations and amendments

    Investigations and amendments

    The payer may ask to investigate the payment status or provide revised information for the payment order (except for the information on the amount and currency). If the payment has been already debited from the correspondent account, Danske Bank will inform the intermediary bank about the case, but the result of the revision will be under beneficiary’s bank consent.

    An application of request to revoke, amend or investigate a foreign payment may be submitted at Danske Bank's office or via Danske eBank.

The correspondent banks

  • The list of correspondent banks
    Currency
    Bank
    SWIFT/BIC
     via
    AUD
    Danske Bank A/S, Copenhagen
    DABADKKK

    Australia and New Zealand Banking Group Limited, Melbourne, BIC: ANZBAU3M

    CAD
    Danske Bank A/S, Copenhagen
    DABADKKK
    Canadian Imperial Bank of Commerce, Toronto, BIC: CIBCCATT
    CHF
    Danske Bank A/S, Copenhagen
    DABADKKK

    UBS AG, Zurich, BIC: UBSWCHZH80A

    CZK
    Danske Bank A/S, Copenhagen
    DABADKKK

    Ceskoslovenska Obchodni banka, Prague, BIC: CEKOCZPP

    DKK
    Danske Bank A/S, Copenhagen
    DABADKKK
     
    EUR
    Danske Bank A/S, Copenhagen
    DABADKKK
     
    GBP
    Danske Bank A/S, Copenhagen
    DABADKKK

    HSBC Bank, London, BIC: MIDLGB22

    HKD
    Danske Bank A/S, Copenhagen
    DABADKKK

    The Hongkong and Shanghai Banking Corporation Limited, Hong Kong, BIC: HSBCHKHH

    HUF
    Danske Bank A/S, Copenhagen
    DABADKKK

    Raiffeisen Bank Zrt, Budapest, BIC: UBRTHUHB

    JPY
    Danske Bank A/S, Copenhagen
    DABADKKK

    The Bank of Tokyo - Mitsubishi UFJ Ltd, Tokyo, BIC: BOTKJPJT

    NOK
    Danske Bank A/S, Trondheim
    DABANO22
     
    PLN

    DANSKE BANK POLSKA S.A., Warszawa

    DABAPLPW
     
    RUB
    AO DANSKE BANK, St. Petersburg
    Acct. No. 30111810700000888013
    (BIK 044030888, correspondent account number         30101810100000000888 with GRCTS GU of Bank of Russia, St. Petersburg, INN 2901081545)

    DABARU2P

     

     

    RUB
    Danske Bank A/S, Copenhagen Correspondent account number with Joint Stock Company UniCredit Bank 30111810800013283059
    DABADKKK
    IMBKRUMM
    Joint Stock Company UniCredit Bank
    BIK 044525545, correspondent account number 30101810300000000545 with GRCTS GU of Bank of Russia, St. Petersburg, INN: 7710030411, KIO Code: 12100
    SEK
    Danske Bank A/S, Stockholm
    DABASESX
     
    SGD
    Danske Bank A/S, Copenhagen
    DABADKKK

    United Overseas Bank Limited, Singapore, BIC: UOVBSGSG

    USD
    Danske Bank A/S, Copenhagen
    DABADKKK

    Bank of America National Association, New York, BIC: BOFAUS3N

    USD
    Bank of America, N.A., New York
    BOFAUS3N
     

Restricted regions for payments in USD

Danske Bank Group does not execute outgoing USD payments to the following countries Sudan, Zimbabwe, Myanmar, Cuba, Syria, Democratic People's Republic of Korea (North Korea), Somalia. Danske Bank Group does not execute any operations with Iran.

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