Cross-border collection requires compliance with a number of rules.
Always specify the BIC and IBAN
When collecting from customers abroad, it is an EU requirement for companies to state their own and their bank's IBAN (International bank account number) and BIC (bank identifier code sometimes known as SWIFT) code on the invoice. This allows you to receive secure payments from abroad directly into the account you have specified. In many cases, you will also be able to save your customers from incurring unnecessary expenses.
Multiple international collections
If you have many foreign customers, the easiest collection solution is to use Collection Service in Business eBanking. As well as sending international invoices, you can send local invoices in the Nordic region or use local direct debit in a number of countries.
SEPA Direct Debit Collection Service
The SEPA Direct Debit Collection Service module within Business eBanking offers a single cross-border direct debit solution in 32 countries with immediate reconciliation of payments received.
SEPA Direct Debit is an interbank payment solution for euro-denominated direct debits. it operates on the basis of shared rules, processes, service levels and time frames.
SEPA Direct Debit can replace the many different national direct debit solutions within the euro-zone.
Many collections in one country
If your company makes many collections in one country, you might benefit from opening a local account with one of our foreign branches or partner banks. We are happy to advise on whether this would be appropriate for your business.