Payment processing timeline

SEPA CREDIT TRANSFER

Bondora banks with Swedish SEB’s Estonian subsidiary, SEB Pank AS. Bondora has an automated payment gateway set up with SEB Pank AS that allows it to receive credit payment details and issue debit payment instructions. Bondora processes incoming payments automatically if they have a reference number or come from an IBAN account registered on the borrower’s account. A small number of payments that do not have reference numbers or that arrive from unknown IBAN accounts  are manually reconciled once a day.

Every SEPA credit transfer a customer delivers to his or her bank before the 14:30 CET cut-off time is guaranteed to be processed within one business day.

SEPA credit transfers delivered before 15:00 CET are processed on a best-efforts basis. The payments are debited from the borrower’s bank account the same day, but sometimes they cannot be sent to Bondora’s bank the same day. If the latter applies, they are sent on the next business day.

SEPA credit transfers delivered after 15:00 CET will be debited from the borrower’s bank account the same day and sent to Bondora’s bank the next business day.

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