The Swedish Financial Supervisory Authority (SFSA) has issued an injunction to SEB and the other Swedish owner banks of Bankgirot to ensure they fulfill the requirements of the EU’s Wire Transfer Regulation (WTR) before 31 December 2026.
SEB is, together with the other owner banks of Bankgirot, fully dedicated to securing a solution and have worked closely with Bankgirot to support the development of new technical infrastructure needed to ensure WTR-compliance. Work to develop this infrastructure is already ongoing.
Domestic transactions via Bankgirot’s payments infrastructure are currently not able to carry all the information required by WTR. According to the WTR, all domestic transactions are required to be accompanied by information on the payment account numbers of the payer and the payee. To solve the issue, a new technical infrastructure needs to be implemented. Bankgirot, supported by its owner banks, has developed a plan for how to secure a solution to enable compliance with WTR. The SFSA has been kept up to date with the plan and work to implement it is an ongoing process of high priority.
Swedish banks have, through cooperation within the Swedish Bankers’ Association, previously developed a routine to share information related to WTR. The banks will continue to use this tool until the new technical infrastructure is in place.