It is a European Union (EU) requirement to state your bank's International Bank Account Number (IBAN) on your invoice when collecting from customers in Euro. You should quote your bank’s SWIFT/Bank Identifier Code (BIC) and your IBAN if your payment is going outside the EU. By providing your customers with this information you can ensure that you and they avoid unnecessary costs and that the payment will reach your account.
The IBAN for an account with Danske Bank stated on your account statement and is also available by contacting the Bank.
Choose electronic transfers rather than cheques
When collecting from customers abroad, we generally recommend that you request your customer to use electronic bank transfers as their method of payment.
Cashing foreign cheques can take a long time which can be damaging to your business cash flow. There is also a risk of the cheque being forged or there being insufficient funds to cover the amount.
Do you make a large number of collections in one particular country?
If your business sells to foreign markets and you make many collections in one country, you might benefit from opening a local account with one of our foreign branches or partner banks. We are happy to discuss whether this would be appropriate for you.
Multiple international collections abroad.
Depending on the country, the easiest collection solution may be to use Collection Service in Business eBanking where you have many foreign customers. As well as international invoices, you can send local invoices in the Nordic region or use local Direct Debit in a number of countries. We are happy to discuss the possible options that could benefit you.
SEPA Direct Debit Collection Service
The SEPA Direct Debit Collection Service module within Business eBanking enables businesses to make direct debit payments in Euros to all Single European Area (SEPA) countries. The SEPA countries are the European Union member states plus Iceland, Norway, Liechtenstein, Switzerland, Monaco and San Marino.
SEPA Direct Debit is an interbank payment solution for euro-denominated direct debits. It operates on the basis of shared rules, processes, service levels and time frames.
SEPA Direct Debit can replace the many different national direct debit solutions within the euro-zone.
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