Nordea Payment Method
Payment cards are part of a payment system issued by financial institutions, such as a bank, to a customer that enables its owner (the cardholder) to access the funds in the customer's designated bank accounts, or through a credit account and make payments by electronic funds transfer and access automated teller machines (ATMs). Trustly Group AB (corporate identity number 5) is an authorized Swedish payment institution under the supervision of the Swedish Financial Supervisory Authority (Finansinspektionen). The company conducts payment services in accordance with the Payment Services Act (2010:751) and can provide cross-border payment services within the EU/EEA. Download the Nordea Codes app to your mobile device from your app store. Open the code app and start the activation by naming your user profile and selecting the country and language. Select the option “I only have a credit card through Nordea”. As the authentication method, select your own bank or a mobile ID and authenticate yourself.
Questions and answers
IBAN stands for International Bank Account Number. Its use has been mandatory in cross-border payments within the EU and the EEA as of 1 January 2007. Most of the European countries not belonging to the EU or EEA have also implemented the IBAN.
An account number in the IBAN format can be identified by the two-letter country code at the beginning of the number sequence. The length of the IBAN varies from country to country. The Finnish IBAN is 18 characters long and it always begins with the country code FI. In Finland the IBAN was implemented in domestic payments in 2008.
Payment Method Definition
BIC stands for Business Identifier Code. The length of a BIC is always 8 or 11 characters. The first six characters are letters and the rest are letters and/or numbers.
You can deduce the beneficiary’s bank from the first four characters of a BIC and the bank’s country from the fifth and sixth character. For example: Nordea Bank Finland’s BIC is NDEAFIHH. You need the BIC when you want to make a payment.
Nordea's BICsOpens new window
You can find your IBAN on your account statement and under ‘Transactions and information’ in Netbank. If you are paying an invoice, you can usually find the IBAN and BIC on the invoice form. In other cases you need to ask them from the beneficiary.
Your own bank cannot give you the IBANs of other banks’ customers or other banks’ BICs.
Payments to the EU and EEA countries cannot be made without the IBAN. It is the sending bank’s responsibility to reject the payments of its customers that do not have the required information. Payments sent from Nordea must always have the IBAN irrespective of the payment currency. This ensures that you will incur no extra costs if the payment is returned from abroad deducted with expenses and foreign exchange losses.
IBANs are always entered without spaces and without the word IBAN.