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DKK credit transfers move to Nordic standard
Corporate customers using Danish kroner (DKK) credit transfers need to prepare for new payment standards. SEB will adopt the Nordic Payments Council (NPC) format for DKK credit transfers 2027, bringing Danish payments in line with Nordic and European standards.
The Danish financial sector has adopted the NPC standards. EBA Clearing and Finance Denmark are introducing the STEP2 DKK Service for retail account-to-account bulk payments in Danish kroner. By extending the same standards to batch and same-day credit transfers, payment processes across the region will become more harmonised and efficient.
The most important changes
The NPC Credit Transfer rulebook will become the standard for DKK credit transfers in the second quarter of 2027.
- Recipient name will become mandatory for all account-to-account payments.
- Remittance information will be shortened to a single line of 140 characters.
- The short 20-character remittance format will be discontinued.
- ISO 20022 standard and NPC standards must be followed to avoid rejected payments.
Additional changes
Execute DKK credit transfers across an EUR account will no longer be possible.
SEB is also evaluating support for Extended Remittance Information, which could enable richer payment information to be exchanged between payers and beneficiaries. More details will be communicated separately.
Find out more about NPC and NPC rulebooks at nordicpaymentscouncil.org
Preparing for the transition
To prepare for the transition this is what we recommend.
- Review your payment initiation systems and payment file formats.
- Assess how the shorter remittance information affects existing payment processes.
- Prepare for new requirements regarding structured and hybrid postal addresses in payment messages.
Further changes in 2028
Additional changes affecting payment slips and Giro payments are expected in 2028.
The common payment slip type 75 will be discontinued, while payment slip types 71 and 73 will remain available. For payment slip type 73 and Giro slip type 01, remittance information will also be reduced to a single line of 140 characters.
Payment service providers and enterprise resource planning vendors will need to ensure their systems can support the updated payment slip requirements.
Integration with ERP
If you use an Enterprise Resource Planning (ERP) vendor or Salary System Vendor to send payment files, check that they support the new ISO 20022 standard. All Business system providers, that is Bank Integrators, Salary System Vendors, ERP Vendors and Service Agencies that are part of SEB's partnership network already handle the new file format.
File testing
Use SEB Test bench to verify correct implementation of ISO 20022 messages.
This is ISO 20022
ISO 20022 is a global standard that has been introduced to improve payment communication within the financial sector. The aim is to make payments faster, smoother and more secure – both locally and internationally.
Contact our experts within cash management
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