In order to send a SWIFT payment to SWEDEN it is highly recommended to meet the following recommendations:
Information provided by the Beneficiary: Remitter should obtain all required bank information from the Beneficiary (e.g., SWIFT BIC, IBAN, and beneficiary bank address).
Currency & Clearing Information: Sweden is a member of the European Union (EU) and is adopting best payment practices within the community, although the country has not adopted the euro.
Account Restrictions: Residents and non-residents are permitted to open and maintain domestic or foreign currency accounts either locally or abroad.
SEPA: Strict formatting standards and SEPA guidelines exist in Europe regarding cross-border payments. IBAN and SWIFT BIC are required for all euro payments. SEPA standards apply for euro payments to beneficiaries with accounts in Sweden.
Payment Formatting Rules for SEK:
Additional Information: The beneficiary bank may choose to process incoming SWIFT messages before the value date in Field 32.
For the following financial institutions in SWEDEN you can find a list of their correspondent banks with the currencies and nostro accounts. Also you will find an instructions how to track the payments and other useful information which will help you to send/receive a SWIFT funds transfer or investigate a status of existing payment.
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