Pangatehingute

Pangatehingute is the Estonian term for bank transactions, referring to financial operations conducted by banks on behalf of customers. The concept covers movements of money and related settlements that occur within payment systems, between banks, or between customers and financial institutions. Transactions can be initiated in person at a branch, via online banking, or through mobile applications, and may involve various payment instruments such as transfers, card payments, and standing orders.

Common pangatehingud include internal transfers between accounts held at the same bank, domestic and international payments, card transactions, standing orders, and direct debits. They also encompass loan disbursements and repayments, deposits and withdrawals, and settlements related to securities or foreign exchange.

Processing typically follows initiation, authentication, and authorization steps, then clearing and settlement. Domestic payments may settle within the same day or in real time, depending on the payment rail and agreement; international payments use correspondent networks or SWIFT, often via standards like SEPA within the EU. Banks increasingly use ISO 20022 messaging and PSD2 APIs to enable faster and more open payment services.

Bank transactions are subject to financial regulation to ensure integrity, competition, and consumer protection. In Estonia, supervision is carried out by the Financial Supervisory Authority (Finantsinspektsioon) and EU rules such as PSD2, AML directives, and data protection standards apply. Security measures include encryption, two-factor authentication, and 3D Secure for card payments, alongside fraud monitoring and risk management.

Digitalization, instant payments, and open banking have affected pangatehingute by increasing speed and accessibility, while raising new considerations for privacy and security.