Välisülekanded

Välisülekanded, meaning foreign transfers or external transfers in English, refers to the process of sending money from one bank account to another, where the accounts are held by different financial institutions. This is a common banking service used for various financial transactions, including paying for goods and services, sending remittances, or transferring funds between personal accounts held at different banks.

The mechanism forvälisülekanded typically involves an intermediary system that facilitates the movement of funds between the originating and receiving banks. In many countries, these systems are operated by central banks or designated payment system operators. When a välisülekanne is initiated, the sender's bank debits their account and sends instructions to the receiving bank to credit the recipient's account. The actual transfer of funds may happen in batches or in real-time, depending on the banking infrastructure and the type of service used.

Fees can be associated with välisülekanded, varying based on the banks involved, the amount being transferred, and the currency exchange rates if the transfer involves different currencies. Processing times for these transfers can also differ, ranging from a few hours to several business days. Modern banking has introduced various methods for initiating välisülekanded, including online banking portals, mobile banking applications, and in-person visits to bank branches.