Frequently asked questions about corporate payments

Account transactions are available on OP-mobile and OP Business mobile for 24 months. On the op.fi service, account transactions are shown for the last 3 months (the on-going and 2 previous months). You can also retrieve account transactions older than this on the op.fi service (max two years old) for a separate service fee, which is based on our valid list of charges and fees. This feature is only available when you've logged into the service using Mobile key.  

Please note that account transactions will be shown at the earliest from the date on which account access rights are activated.  

You can close a corporate account on the op.fi service or by contacting our Customer Service.  

If you have a user ID to OP's digital services, log into to the op.fi service and go to Payments and invoicing – Close a corporate account. If it has been agreed that two or more persons must sign for the company jointly, all of them must fill in the form.  

If you don't have an OP user ID, log into the op.fi service with your own bank's user identifiers and go to Money – Close an account. If the balance of the account to be closed is over 1,000 euros, you can only close the account at a branch or by logging into the service with an OP user ID. If it has been agreed that two or more persons must sign for the company jointly, all of them must fill in the form. 

The administrator named in the Corporate Agreement for Digital Transactions can edit account access rights via self-service. The administrator can add, edit and remove account access rights for all of your company's accounts. If your company has several accounts, and you want to set access rights for, say, only one account, or if your company's administrator named in the digital agreement changes, please contact our Customer Service. 

See the instructions on how your company can access accounts through an external service provider. 

If you can't see a new corporate account online, check that you've signed all agreements related to the services. If you have an OP Corporate User ID, you can view your company's banking services with it.

If you can't select company representation after logging in, your access right has probably not been added to the Corporate Agreement for Digital Transactions. If you can select company representation after logging in but can't see the corporate account, you probably don't have the required access right to the corporate account. In such cases, contact your company's administrator.  

Bank statements produced on the basis of the Corporate Agreement for Digital Transactions can be retrieved from OP's digital services for two years, however, at the earliest from the date on which account access rights are activated. You can check and edit a corporate account bank statement (for example, change the period for which it is produced or add new bank statement types) on the op.fi service under Payments and invoicing – Bank statement. If you need a bank statement for a period longer than is available on the op.fi service, you can order the bank statement in a paper copy via self-service. 

If a bank statement is not available for retrieval, first check whether the account has been set to produce the bank statement you're trying to retrieve. You can set, via self-service, your corporate account to produce a specific bank statement. However, a retrospective bank statement can only be ordered in a paper copy. If your corporate account has had no account transactions, as a rule, no bank statement is produced.   

See the instructions on how to order a bank statement to your separate bank connection software. 

If you need to regularly deposit or withdraw cash, please make an appointment with the bank to make a Cash Services Agreement. See here for more detailed information on cash services.

If your need for depositing or withdrawing cash is less regular, your company can order an OP Visa Business Card. Using the card, you can deposit and withdraw cash at Otto ATMs. 

Error descriptions are listed at op.fi on the Information to software suppliers page, under Instructions for customers.  
 
The most common error codes include: 

• AG01 - agreement missing. Check that the payment identifier of the payload matches exactly with the details found in the company's C2B payment agreement. 
• AM04 - insufficient funds in the account. Check the balance of the account. 

You can cancel payment batches of a payload, or individual payments, with the C2B cancellation request (Camt.055.001.01). It's possible to send a cancellation request from some bank connection software. A cancellation request through the Web Services (Corporate banking connection) channel costs 5 euros. If you're not sure whether it's possible to successfully send a C2B cancellation request through the software you're using, you can check it from your software vendor.  

If necessary, you can also cancel a payload by calling our Customer Service. This will cost 50 euros. You'll find contact information for our Customer Service here. 

Please note that it isn't possible to send a cancellation request for a payload sent through the file transfer service.  

A salary payload's execution date must be a business day. Otherwise, the payload will be rejected. 

Select the business day preceding the salary payment date as the salary payload's execution date, in which case salary will be debited from the account and paid to the payee on the payday, regardless of the payee's banking group.

You didn't have enough money in your account at the time of debiting the payment to make the payment. A bounced payment will show under confirmed payments for about 14 days. Payment will be retried for three days during which the account will be checked for sufficient funds for making the payment. Payment is made if enough money is deposited into the account during these three days. If no money is deposited, the payment is rejected after the third day. A rejected payment will show under confirmed payments for about 14 days.  

You can delete a payment that is being retried and then make a new payment.

If you've logged into the service using Mobile key, you'll also confirm payments with Mobile key. Read more about using Mobile key. If you've logged into the service using a key code list, you'll confirm payments with a key code pair you'll receive by SMS.

Read more about managing user ID.

If the payee's account is held with OP Financial Group, euro payments will arrive in the payee's account immediately. OP seeks to send payments to other financial institutions and to the SEPA euro payments area as SEPA instant credit transfers, in which case payments made on OP's digital services are transmitted to the payee immediately. 

If a payment can't be sent as a SEPA instant credit transfer, domestic euro payments to another domestic bank will go through on the same day provided that the payment has been made by 14.00. Payments made after this will arrive on the following working day. 

International payments that you've confirmed by 17.00 on a business day will in most cases be debited on the same day. Payments that you've confirmed after 17.00 or during non-business days (e.g. public holidays or weekends) will be debited on the following business day. 

A payment instruction is usually transmitted to the payee on the same day if the receiving bank is a GPI bank and the payment is in one of the following currencies: EUR, GBP, USD, SEK, NOK, CHF, DKK, CAD or PLN. Otherwise, the payment is transmitted in 1–5 days. An instant payment instruction is transmitted to the payee on the following day. 

The final delivery time will depend on the actions of the payee bank and intermediary banks, for which the payer's bank cannot be held responsible.

If the amount has been debited from your account, the payment was successful. A successful payment will show in account transactions as a debiting. 

If the payment doesn't show in account transactions, check that the details of the payment are correct. Please take into account that the fulfilment of the bank's statutory obligations (such as sanctions screening) may affect processing times.  

An individually made and approved/confirmed payment is transmitted as a SEPA instant credit transfer whenever possible. When payments are bundled, or when you've approved/confirmed several payments at the same time, a payment is transmitted as a SEPA instant credit transfer only if the bundle includes no more than two payments. If you've approved more than two payments at a time, the payments are transmitted as SEPA credit transfers. 

Read more about the benefits of SEPA instant credit transfer to businesses.

If you suspect that your user ID has fallen into the wrong hands, immediately deactivate it by calling OP Customer Service. You'll find contact information for our Customer Service here.

Read more about secure use of services and what to do if someone tries to scam you.

You can make payments to foreign countries in two ways: as cross-border SEPA credit transfers or as international payments. SEPA credit transfers are euro payments made to another country in the single euro payments area (SEPA). 

For example, a euro payment to Spain is a SEPA credit transfer, whereas a euro payment to the United States or a payment in SEK to Sweden is an international payment.  

All other payments sent abroad are international payments, also non-euro payments made to other domestic financial institutions. 

Only the charge bearer code "SHA" (payer and payee each pay their own bank's charges) is possible for a SEPA credit transfer.

Provide the invoice's foreign recipient at least with the following information: 

• Payee's official name (company, entity or person). 
• Payee's official address. 
• Your account number in IBAN format: FIxx xxxx xxxx xxxx xx. 
• Purpose of payment (for example, number / description of invoice). 
• Payee's bank details: 
  • SWIFT CODE (BIC): OKOYFIHH. 
  • OP Corporate Bank Plc, Helsinki, Finland.

Processing times of incoming payments cover several factors depending on the actions of the sending bank and intermediary banks. 
 
The processing time is affected by things such as:  

• Whether the payer's bank sends the payment as an expedited international payment, or a so-called GPI payment, in which case the payment may arrive in the payee's account with OP even in minutes or a few hours. 
• Payment type selected by the payer (for example, instant payment or zero value date payment).
• Exception days in payments, i.e. New Year's Eve and Maundy Thursday, when payments are processed until 13.00. 
• Currency calendars of international payment transfers, which define payment days for the currency in question. For example, payments in USD will not be processed on the US Thanksgiving Day but on the next possible business day. 
• Payments that arrive in an OP cooperative bank in the course of a business day will be processed on the same day.  
• Payments that arrive outside the opening hours will be processed on the next business day.  
• Payments are not processed at weekends or on public holidays.  

Yes, you can. You can receive the most important currencies of the currency market into all your accounts through OP. 

If you need additional information on the currencies of incoming payments, please contact our Customer Service. 

For an incoming international payment, OP will charge a basic fee based on our list of charges and fees. For a payment rejected due to incorrect information, we will charge from the payer a fee based on our list of charges and fees. 

Within the international payment network, intermediary banks may levy charges. If you want to ensure that a payment is transferred to your account in full, instruct the payer to use the OUR (DEBT) charge bearer code, in which case the payer will pay all charges related to the payment.

Making an international payment on the op.fi service or mobile service requires the following details: 

• Payer information 
  • payer’s name. 
  • any of the following information: payer’s address, date and place of birth, customer number given by the bank, personal identity code or business identification code. The payer's address is mandatory information on the op.fi service. 
  • account number if the payment is made from an account. 
• Payee information 
  • name and address. 
  • banking information (such as BIC). 
  • account number (e.g. in IBAN format).  
• Currency of payment, payment amount and due date. 
• Payment method (such as credit transfer, payment instruction, instant payment instruction or SWIFT cheque). 
• Information on who will pay charges for the payment. 
• Any other information required for transmission of the payment stated by the bank. 

A payment's speed will depend on several factors. If the payee's bank is a member of the GPI network of expedited international payments, in most cases the payment will be transferred to the payee on the same day.  

OP transfers payments as GPI payments in the following currencies:  

• Euro EUR 
• US dollar USD 
• Swedish krona SEK 
• British pound GBP 
• Norwegian krone NOK 
• Swiss franc CHF  
• Danish krone DKK    
• Canadian dollar CAD  
• Polish zloty PLN 

If the payee's bank is not a member of the GPI network, or the currency is not covered by the GPI service, you will get your payment through quicker by using the SDVA (Same Day Value) payment type. 

The URGENT payment type (instant payment instruction) means an expedited payment (+1 day). Regular payment is the slowest payment type (+2 days). 

New Year's Eve and Maundy Thursday are exception days in payments during which payments are processed until 13.00.  

International payment transfers are also affected by currency calendars that define payment days for the currency in question. For example, payments in USD will not be processed on the US Thanksgiving Day but on the next possible business day.  

Payments sent in the course of a business day will be debited from your account on the same day. Payment orders submitted outside the opening hours are processed on the next business day. Payments are not processed at weekends or on public holidays. 

For an outgoing international payment, OP will charge costs as follows:  

• Charge bearer code "Payer pays own bank's charges (SHA)": the price of an outgoing international payment is specified in the valid list of service charges and fees for corporate customers. 
   
• Charge bearer code "Payer pays all charges (OUR)": in addition to the charge for an outgoing international payment, we'll charge an additional fee based on the list of charges and fees. The payment is made to the payee in full. 
   
• Charge bearer code "Payee pays all charges (BEN)": the payer places the total amount at the disposal of the sending bank. The sending bank deducts the cost of an outgoing international payment from this amount according to the valid list of service charges and fees for corporate customers. The sending bank transfers the rest of the amount to the payee's bank, which has the right to deduct its own costs before paying the rest to the payee.  

If the payee's account is a SEPA account and the payment's currency is EUR, only SHA is possible. 

The standard fee policy for international payments is that both the payer and the payee pay their own bank's service charges (SHA). If the payer and payee so agree, they can also choose another fee policy for a payment. Intermediary banks may levy charges for transmitting a payment. This is normal practice in international payment transfers. 

If your company has a higher volume of outgoing and incoming payments in a foreign currency, a currency account will help you protect against exchange rate fluctuations.

You can open currency accounts for different currencies according to your needs and pay from them in the same way as from your euro account. OP also provides you with digital tools and additional services for your company's currency trade.

SWIFT GPI (Global Payments Innovation) is a global cross-border payment network of member banks. SWIFT GPI covers the following currencies used at OP: EUR, USD, SEK, GBP, NOK, CHF, DKK, CAD and PLN. 

Payments sent between the network's member banks are transferred from the payer to the payee on the same day. Some of the payments are transferred almost instantly.  

You'll find the International Payment Tracking feature in OP Corporate Hub for tracking the status and arrival of your international payments. 

The GPI service for fast payments is automatically available to your company. OP seeks to make payments as GPI payments whenever possible. If the payment's recipient bank hasn't joined the GPI network yet, your payment will be processed as a regular international payment.

If your company has bank accounts with other financial institutions, you can track account balances and transactions via the OP Corporate Hub service. You can add bank accounts with Finnish and many Nordic and European banks directly to the OP Corporate Hub service to track them along with your OP accounts and manage your company's cash comprehensively through a single service.  

You can retrieve bank statements (Customer Statement Message MT940) of your accounts with domestic and foreign banks using OP's Swift account reporting service through the WS channel or OP Corporate Hub service. In addition, you can retrieve the following materials through the WS channel: balance statements (Balance Report MT941) and transaction statements (Interim Transaction Report MT942).

Sign the Corporate Agreement for Digital Transactions and an agreement for receiving e-invoices at your OP cooperative bank or contact our Customer Service. You'll find contact information for our Customer Service here. Your e-invoice address and operator ID (OKOYFIHH) are stated in the agreement.

Corporate customers can't order e-invoices electronically. After making the agreement, their e-invoice address will be displayed on the verkkolaskuosoite.fi page from which the invoicer can get the address. You can also inform an invoicer of your e-invoice address by email or post.

If you send invoices to consumer customers, you'll need to have a sender info notification. You can create it on Finance Finland's website at www.finvoice.info. See the website for more detailed instructions.

After you've filled in the required information, save the file to your own computer and send it to all banks through your bank connection software. If you need to change your sender info notification, you can do that with the sender info notification software available on the Finance Finland website.

The e-invoice address registry is an address registry maintained by e-invoice operators and banks that includes corporate customers' e-invoice addresses.  

After you company has made an agreement with the bank for sending and/or receiving e-invoices, we will submit your e-invoice address to the verkkolaskuosoite.fi page. This requires that your company's customer relationship was established using the business ID and that you've received an e-invoice so that your recipient address can be displayed.

If your company’s e-invoice address is not displayed on the page or is displayed incorrectly, please contact our Customer Service. You'll find contact information for our Customer Service here.  

Error messages are explained in the description of corporate e-invoicing service. If necessary, contact your software vendor.