International transfers in a nutshell
Holvi customers can now easily receive transfers outside the SEPA region.
At the moment, Holvi only supports international transfers in euros – for more details, go to ‘Supported currencies’. For the time being, Holvi also supports transfers only to accounts with an IBAN (International Bank Account Number).
Sending an international transfer
Currently, we only support the receiving of international transfers. We are working to offer the sending of international transfers as soon as possible.
Receiving an international transfer
To receive an international transfer, provide the payer with your complete bank details, including:
- Your IBAN (visible in Holvi)
- Holvi’s BIC: HOLVFIHH
If a payer asks for the receiving bank’s address, send them the following:
Holvi Payment Services Oy
Kaikukatu 2 C
International transfers are processed on banking days. If a payment is initiated on a non-banking day, the processing will start on the next banking day. The actual transfer time depends on the receiving bank and usually takes between 2-4 banking days.
For incoming transfers, Holvi promptly transfers the sum to the customer account upon receipt. Please be aware that if the incoming transfer is missing information, the transfer process may be delayed.
Holvi applies charges for both incoming and outgoing* international transfers. These fees are billed monthly along with other service charges. Please check the current fees in our fee schedule (link).
For outgoing transfers, we’ll exclusively support a shared fee model (SHA), where the payer and payee assume responsibility for their respective bank fees. While Holvi customers cover the fee for the outgoing international transfer to Holvi, the recipient bears the cost imposed by their own bank, along with any potential fees from intermediary banks. Please be aware that Holvi cannot guarantee that the recipient will receive the full sum, as the receiving and/or intermediate bank may deduct their own fees from it.
For incoming international transfers, it's possible that the payer has selected a beneficiary model (BEN), where the recipient is expected to cover all costs related to the payment. In such cases, the sending bank deducts their fees from the sum. Please be aware that Holvi cannot guarantee that you will receive the full sum, as the sending and/or intermediary bank may have deducted their own fees.
As a financial institution, Holvi sticks to international rules to make sure transactions are secure. Right now, there's a specific group of countries outside the SEPA region where Holvi customers can make transactions*. We've chosen these countries carefully to make sure everything runs smoothly when you send or receive money. It's all about keeping your financial operations safe and compliant. The list of supported countries may also be subject to change based on international regulations.
Besides the SEPA countries, Holvi customers can currently do transactions with these places: Argentina, Australia, Bahrain, Canada, Chile, Colombia, Hong Kong, Israel, Japan, Malaysia, Peru, Saudi Arabia, Switzerland, South Korea, Taiwan, Tunisia, United States, Uruguay, New Zealand, Singapore, and the United Kingdom.
While we aim to facilitate international business, for the time being, Holvi exclusively supports payments in euros. We are actively working towards introducing additional supported currencies and will keep our customers informed when this service is available, and this description will be duly updated.
Submitting additional information
As a payment institution, Holvi has obligations concerning customer identification. In certain cases, Holvi may request additional information regarding the origin or use of funds pertaining to an international payment. If necessary, customers must confirm their identity when initiating an international payment. Additionally, other banks and payment service providers involved in international payments may be obliged to share information about the payer or payee with their local authorities.
*Currently, we only support the receiving of international transfers. We are working to offer the sending of international transfers as soon as possible.