Finnish consumers are accustomed to paying for online purchases by transferring directly from their bank, but transfers in this market fall into two categories. One is bank-link payment (verkkomaksu), where the consumer selects their own bank at checkout for instant approval; the other is the invoice tradition, where a bill is received and paid via SEPA transfer. The general bank transfer covered on this page falls into the latter category, and is a path suited to invoice settlement and high-value payments where certainty matters more than immediacy.

This is worth considering for merchants selling high-ticket items such as furniture and appliances, B2B transactions, or sales models combined with invoice-based deferred payment. If you need a real-time checkout experience, bank-link methods or open banking-based methods are more suitable.

This is a push method in which the consumer executes the transfer directly from their own bank using the account information and reference number provided by the merchant. Unlike bank-link payments, this is not a structure where approval is confirmed instantly at checkout, so an operating process of shipping goods only after deposit confirmation is assumed. The deposited euro (EUR) amount is collected and converted by Hecto Financial, and settled to the Korean merchant in USD, KRW, or JPY as contracted.

By integrating through Hecto Financial, a Korean corporation can consider bank-transfer-based collection without opening a local bank account in Finland. Operating procedures such as deposit matching and handling of missing payments, along with the settlement cycle and fees, vary depending on business category and transaction volume, so confirmation is needed before contracting.

• Business registration country

  Confirm contract eligibility for Korea-based merchants

• Sales channel

  The integration method and priority vary depending on your online sales channel mix, such as owned storefronts, marketplaces, or mobile apps

• Product category

  Advance confirmation is needed as to whether your products fall under restricted categories per the Bank transfer operator's merchant policies

• EU regulatory compliance

  Confirmation is needed as to whether EU payment regulations such as PSD2 and SEPA are followed (see official sources below)

Transferred amounts are received by Hecto Financial in euros (EUR), converted, and settled to the Korean merchant in the currency—USD, KRW, or JPY—selected in the contract. Unlike cards, bank transfers have no chargeback concept, so non-payment risk is low; however, if an EU consumer exercises their 14-day withdrawal right, the merchant must proactively execute a return transfer, so a refund account confirmation process should be prepared in advance.

• Bank of Finland (Suomen Pankki) / Finnish Financial Supervisory Authority (FIN-FSA, Finanssivalvonta)Official information on Finland's payment system and related regulations. If actual regulations differ from the content of this page, the official source takes precedence.