Välismakse

Välismakse is an Estonian term that translates to "external payment" or "foreign payment" in English. It refers to a financial transaction that involves the movement of funds across national borders. This can include payments made by an Estonian resident to a non-resident entity or individual, or payments received by an Estonian resident from a non-resident.

These types of transactions are common in international trade, where businesses pay for imported goods and services or receive payments for exports. Välismaksed also encompass remittances sent by Estonians working abroad to their families back home, or investments made by foreign entities into Estonia.

The process of making a välismakse typically involves a bank or other financial institution acting as an intermediary. Regulations and reporting requirements can vary depending on the amount of the payment, the countries involved, and the nature of the transaction. Banks play a crucial role in ensuring that these payments comply with anti-money laundering and counter-terrorist financing laws, as well as other relevant financial regulations. Understanding the specifics of välismaksed is important for individuals and businesses engaged in international financial activities.