SEK/DKK/NOK transfers are now SWIFT transfers?

I got a push notification today that stated that from now on transfers in SEK, DKK and NOK will be SWIFT transfers.

My local bank in Sweden says that they don’t charge a fee for incoming SWIFT transfers but that any intermediary bank might, Revolut says the same thing. So how on Earth can I know if there will be a fee on my transfer if there is no way of telling if there will be an intermediary bank handling my transfer halfway?


I have a similar question. I receive my salary in a Danish bank, and was using Revolut as my daily bank, topping up via Apple Pay associated with my Danish bank account. I live in Copenhagen. Do anything change when I pay something with my Revolut card using dkk?

Same issue here, i send every three months money to denmark, denmark has sepa payment (because of eu) and now it should not work anymore? Why?

And i tried to do a payment: even for the first payment revolut takes a fee, so much for the first transfer in the month is for free…

And the Fee thing is very problematic, how should i know how much money will arrive when i send the money?

I hope this will be fixed, otherwise revolut has no value for me and i need to reopen my transfer wise account

Can confirm from several people (e.g. with Danske Bank) that these transfers are now coming in via SWIFT and people are getting charged.

@FarewellFire If your bank doesn’t charge for receiving SWIFT transfers, the only real way to find out is to make a test transfer, unfortunately. Another thing to consider is that SWIFT payments don’t always take the same route, so whilst you may receive no charges on a test transfer it doesn’t guarantee that the next one will be fee-free. In other words SWIFT sucks! If you are with a large bank, chances are you’ll be okay, but often those are the ones that charge to receive SWIFT transfers anyway, so it’s a bit of a catch-22.

@mstrl SEPA payments can only be made in EUR so this is an unrelated issue. If you make a SEPA transfer in EUR, everything should work the same as it has previously. Note that if your address is not set to Denmark in Revolut, the transfers are treated a little differently (it’s all a bit mysterious).

Also, @Talesp payments with card should be unaffected… this is only a change related to making bank transfers.

For me the problem is: it worked for some time (several years) and from one day to another it does not work anymore… It seems that there is something else about DKK/€.

I use revolut now less than before, other competitors have free Swift transfers! But even with free swift payments, i will not use swift, i did a payment two days ago and the receiving bank takes 50DKK, in germany those fees would be usury… I moved to transferwise, there i pay not even the half of it. It feels like stone age in digital banking

Ah, that explains why my recipient in Denmark has suddenly been charged 50 DKK for my latest transfer. Is there no way around this?

(Also, I’m a new member here, how on earth do I create a new post? Can’t seem to work it out!!)

I have a similiar issue.
I live in norway and enjoyed the local bank account provided by Revolut. I used to be able to transfer handelsbanken SEK to my revolut SEK account. Then exchange SEK to NOK. And finally withdraw revolut nok to my local bank in norway. This was a bit time consuming, but well worth it considering it was all done without fees and at great currency rates.

Recently I tried to do the same using a smaller test amount. It all worked fine with the test amount. The last transfer was registered from Trustly norway AS with a norwegian IBAN in my local bank and no fees were taken. Since the test run was successful I tried a larger amount. All was well until the last step. Withdrawing the money to my local bank. This time it was registered as a swift transfer from an LT Iban number. My local norwegian bank then charged me 100 nok.
I had a go at revolut live agent. But they refused to disclose what the trigger for the LT swift transfer compared to the trustly bank AS NO iban was.
Has anyone found a good workaround to avoid fees?
I’ve searched for norwegians banks that does not charge for swift transfers but without any luck.

So far I have been lucky as my local Swedish bank (Skandiabanken) doesn´t charge for SWIFT-transfers. The day the start doing however is the day that I cancel my Premium-membership as the whole point then will be lost for me.

Yeah! Handelsbanken sek to revolut sek has not charged me any fees yet. My troubles started in norway.

That’s strange that it’s still sending via local transfers for what sounds like smaller amounts! I had assumed that there was some regulatory issue with the Lithuanian bank maybe not being licensed to send DKK/SEK/NOK. For me there was a brief period after they made the announcement where transfers still seemed to be sending as local transfers (even for larger amounts), so I don’t know if you maybe just did your test transfer around that time (I think they might have introduced the change gradually).

For a while I was using Lunar bank (it’s a sort of scandi equivalent to Revolut) as they weren’t charging for receiving SWIFT transfers. Then I started getting 25dkk knocked off the received amount, which is presumably an intermediary bank’s fee (it may take a different route in Norway). Anyway it’s worth a try, though not for regular large amounts - after a few months they basically told me I can’t use the account just to transfer on money to another account. Also there’s some bug if you transfer money out too fast the app miscalculates it as you going into overdraft, so I’d recommend always keeping a small amount left over as positive balance, and keep an eye out for overdraft fees :smile:

Maybe this has something to do with Norway not being part of the EU?

Could be, but they are part of SEPA.

test transfer large amount

I attached the two transfers. As you see they were done 7 days apart. My norwegian bank charged me 100nok for the “LT” transfer.

I looked into lunar but I could not figure out if I would get a norwegian account (IBAN). And it looked like they did not support withdrawal of money to other local banks?

I either need to find a Norwegian bank that does not charge for swift transfers or find another online bank which provides a norwegian Iban.
Or wait until revolut relaunches local norwegian accounts again.
Alternatively take the 100nok fee :frowning:

Did Revolut get rid of local Norwegian account details for Norwegian residents altogether? Or is your problem limited to transferring money out? Did you try to replicate the small transfer again? The question is: is slicing up the transfer into several smaller transfers a workaround?

(Regarding SEPA: regulations only affect EUR transfers. It’s correct that the European Payments Council recommends that all SEPA member states should apply the same rules for all currencies of SEPA members, but that’s just a recommendation so far, no binding law.)

They got rid of it altogether. I have a SEK and a NOK currency account. But both have an LT IBAN.

So far Sek to sek goes wo fees. Sek to Nok goes wo fees since im on a revolut premium plan.
My problem is transfering Nok from revolut to my local bank.

I tried to push the revolut support if they could confirm that a transfer of 9800nok would always be through Trustly (norwegian IBAN). But he was not allowed to disclose that information.

I did plan to slice the transfer up in pieces of 9800 nok as a workaround. But I was hoping for a more bulletproof workaround.

I was quite surprised to see the fee as my “test” transfer was successful.

But did they get rid of the local NOK account between your two transfers? That’s no confirmation but would be at least some evidence that it might be based on amount.

I’m not sure, but I think they got rid of it earlier on the 18th of march

@Chyben I think it might actually be completely unrelated to amount, as I’ve just had a much larger transfer than yours go through without any fees, also registered as coming via Trustly. This is actually the first time I’ve had anything come through via Trustly (and I transfer pretty much monthly), and the first time I’ve had a transfer without fees since the announcement. It’s all very mysterious!

My only vague theory now is that if you send a transfer late in the evening, it needs to be scheduled for sending the next day; maybe this is easier for them to do via Trustly than a standard SWIFT transfer. I’m not a 100% on it though, as I’m pretty sure I’ve sent payments in a similar way before and had fees charged.

@pindsvin It could be as you say that it is not related to the amount. I have actually now managed to transfer a lot of money without it going through swift.
I did some tests without actually going forward with the last step. I figured out that i.e for 58161nok I get the warning text “Intermediary bank(s) may charge fees” And for 58160nok the warning was not shown. This sweet spot seemed to vary slightly, which leads me to believe that it is related to some currency limit for whether it will be swift transfer or a normal transfer.
I have successfully transferred 50000 nok numerous times over the last weeks without any of them being a swift transfer and therefore no fees has been charged by my bank. I have done these transfers between 08.45-11.00 on weekdays.
So my final advice to avoid transfer fees from your local bank in norway. Is to keep the amount well below the sweet spot, watch out for the warning text and transfer money on weekdays before lunch.
Learning this cost me 200nok, but I’m still in the green compared to using i.e wise.

It’s also a bit misleading that the revolut “transfer fee info” button says “your local bank transfers are always free!” that info is still there when the “Intermediary bank(s) may charge fees” warning appear.

Thanks for your interest in my case @pindsvin. Learnt more from this forum than from the customer support chat.

Very useful info, thanks! I’ve been getting charged for smaller amounts than the equivalent of 58161 in DKK, so it might be that they’ve been rolling out a change to Trustly lately. Regardless, I’ll definitely be keeping an eye out for the fee text from now on - I always assumed it was just a boilerplate text to avoid customers complaining, but it sounds like it’s really relating to something on the back end. Why they don’t just explain what the limits are is beyond me!

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