Terms for submission and execution of payments

 

  Order submission time (Latvia time) Execution day
Payments within Citadele Bank, incl branches in Lithuania and Estonia before 17.30 the same working day
Standard payment to another bank:    
SEPA Instant payment without restrictions immediately after acceptance
EUR: SEPA 1 before 15:45 the same working day
EUR: SEPA within Latvia (to member banks of Latvijas Banka's electronic clearing system before 17.30 the same working day
EUR: other payments before 14:30 the same working day
USD, CNY individually, information in Citadele bank  
BYN, RUB 2 before 17.30 next working day
GBP, DKK, NOK, SEK, PLN, CAD, CHF, JPY, KZT, CZK before 17.30 day after the next working day
NZD, AUD before 14:00 day after the next working day
Urgent payment to another bank:    
CAD, CHF before 12:00 the same working day
GBP, DKK, NOK, SEK, JPY, PLN, CZK before 14:00 next working day
NZD before 16:00 day after the next working day
AUD līdz 11:00 next working day
Incoming payments into account:    
EUR, GBP, DKK, NOK, SEK, PLN, CZK before 17.30 on the same bank day if the bank has received information on transfer of EEA payment into the correspondent account of Citadele Bank
In other foreign currency before 17.30 on the next bank day after transferring funds into correspondent account of Citadele Bank

1 Only SHA allowed. OUR accepted in case of payment with currency conversion

2 RUB – only OUR is allowed

Working day – Monday, Tuesday, Wednesday, Thursday, Friday from 8.30 to 17.30, excluding official holidays of Republic of Latvia.

Commission types:
SHA –  commission fee is paid by the sender (separately from the transfer amount), but the recipient’s account is credited by the payment amount minus commission fees of the correspondent bank and intermediary banks. In case of SHA, recipient bank ensures delivery of full amount of EEA payment into recipient’s account, excepting when recipient bank has agreed with the recipient that a commission may withheld from the incoming amount.
OUR –  banks’ commission fee is paid by the sender. Citadele Bank withholds commission fees of Citadele bank and correspondent bank at the moment of payment from the sender’s account (separately from the transfer amount). If he recipient bank or intermediary mediator bank requests Citadele Bank to pay its commission fee, then Citadele Bank shall withholds it from the customer’s account under the acceptance-free procedure.
BEN – banks’ commission fee is paid by the receive.

SEPA payments (EU regulated payments): Payments in EUR currency within the European Union (as well as Iceland, Switzerland, Liechtenstein and Norway)ю In order for such payment type to be performed, one must specify the following details in the payment order:

  • Recipient’s IBAN account number,
  • Commission type – SHA (shared),
  • Payment type - standard.

Citadele Bank shall not be responsible if the recipient bank has not performed the instructions of Citadele Bank that are necessary to execute a payment regulated by the EU for the reasons beyond the control of Citadele Bank

SEPA Instant payment - payment in EUR currency sent to the Bank that ir participant of SEPA Inst scheme. Complete list of SEPA Inst scheme participants is available under the link https://www.europeanpaymentscouncil.eu/document-library/other/epc-list-sepa-scheme-countries. In case EUR payment is made to the Bank that is not participant of SEPA Inst scheme or payment can’t be processed as SEPA Instant payment due to technical or any other restrictions, then it will be processed as SEPA Credit transfer automatically. Bank is entitled to set maximum allowed SEPA Inst payment amount limit as well as impose any additional limitations for payment processing as SEPA Instant payment. Information about the maximum SEPA Inst payment amount limit is available in www.citadele.lv and in customer service centres.