OREANDA-NEWS.  October 16, 2014. On 16 December 2014 the standing order contract conditions will change. The more important changes concerning the standing order are as follows:

We shall start processing the payments several times a day, whereas the time of processing will hereinafter depend on the type of payment. More information about the times of payment of a standing order can be found at http://www.seb.ee/eng/standing-payment-order. After this amendment, for example, the European euro payments will generally reach the beneficiary’s bank on the same day. Until now we have processed the payments only in the evening.

In the future we will process the payments only on payment dates. Up to now, we have been checking the availability of money in the current account on the payment date and on the next two days.

Payments to other banks shall be made only on working days. Any payment, made during a weekend or on a national holiday will be postponed to the next working day. However, internal payments will be still processed every day.

There will be a possibility to fix the amount, which is to be left in the account after the payment is made (account balance);

New payment frequencies are added.

Internet Bank will have an option of formalising international standing orders. Currently this can be done only at a bank office.