mottakerbank

Mottakerbank is the bank that holds the recipient’s account and receives funds in a payment transaction. The term is commonly used in Norwegian banking to refer to the beneficiary bank; in international contexts it corresponds to the recipient bank.

In a typical credit transfer, the sender’s bank (the avsenderbank) initiates the transfer and routes funds toward the mottakerbank through an interbank clearing system. The payment instruction includes the beneficiary’s banking identifiers, such as IBAN and, if required, a BIC/SWIFT code. The mottakerbank credits the beneficiary’s account once the funds are received. Domestic transfers are usually processed quickly, while cross-border payments may involve intermediary banks and currency conversion.

Responsibilities and data: The mottakerbank must validate the beneficiary information and comply with applicable regulations, including anti-money laundering controls. It may apply fees and exchange rates, and ensure proper credit to the correct account. Providing accurate data (recipient name, IBAN, and other identifiers) helps avoid delays or returns.

Fees and charges: Fees can be charged by the mottakerbank, the avsenderbank, or both, depending on the payment scheme and the agreement between banks and customers. The exact costs and who bears them vary by country and payment type (domestic, cross-border, or specific schemes).

See also: avsenderbank, IBAN, SWIFT, SEPA.