Information on IBAN
The execution of payments as of January 1, 2007 shall depend on the correctness of the beneficiary’s data in the appropriate form.
In accordance with the European Payment Council resolution No.EPC-092/05, adopted on 11 May 2005, from 1 January 2007, banks of all European Union countries, as well as Iceland, Lichtenstein, Norway and Switzerland are entitled to reject the execution of clients’ Euro payments, if they do not contain the BIC (SWIFT) code of the beneficiary’s bank and beneficiary’s IBAN account number.
This Resolution also prescribes that those country banks have rights to reject and leave without execution client payments in EUR, if in payment orders beneficiaries IBAN accounts and beneficiaries bank BIC (SWIFT) codes are missing. Moreover, they are entitled to deduct an extra commission fee for return of payments.
In many European Union countries European Payment Council resolutions provisions are referred not only to payments in EUR but also to payments in other currencies.
Dear Clients, please, take into consideration:
In order that you would not encounter problems when making payments due to insufficient payment data, we urge you to pay due attention to the fact, whether there is sufficient information at your disposal on BIC (SWIFT) codes and IBAN account numbers of cooperation partner banks of European Union countries, as well as Iceland, Lichtenstein, Norway and Switzerland.
We also ask you to make sure that your cooperation partners are informed about BIC (SWIFT) codes of commercial banks of Latvia and payment beneficiary’s IBAN account number, because it shall be decisive factor receiving money.
Danske Banka will continue accept customer payments in EUR without beneficiary’s IBAN account number and bank BIC (SWIFT) code, but you must take into consideration, that payment might be rejected by beneficiary bank, furthermore additional charges might be taken both for return and for execution of payment.