About 70% of online payments by Dutch consumers go through iDEAL, so there is little reason to offer a standard bank transfer separately for real-time checkout purposes. A standard SEPA transfer becomes meaningful for transactions where funds move outside the checkout flow, such as invoice-based B2B payments, large prepaid orders, or payment following a quote. The spread of SEPA Instant Credit Transfer (SCT Inst) is also reducing the traditional weakness of delayed deposit confirmation.

Korean businesses selling via purchase orders and invoices — such as wholesale or parts exports, or high-value equipment or custom-made products — are candidates to consider. If you run general consumer-facing commerce, you should look at iDEAL first, rather than this page.

This is a push-based method: the merchant issues payment instructions (an invoice) containing an IBAN and reference number, and the buyer sends the payment via SEPA transfer from their own bank. The reference number is used to reconcile the deposit against the order, and the deposited euro (EUR) amount is received by Hecto Financial, converted, and settled to Korean merchants in the contracted currency among USD, KRW, and JPY.

Korean companies can review the structure for receiving SEPA transfer funds through Hecto Financial without opening a local account in the Netherlands. Since this involves operational design such as deposit reconciliation and handling of unpaid orders, please consult with us with your transaction type specified.

• Business registration country

  Confirm whether contracting is possible on the basis of a Korean business entity

• Sales channel

  The integration method and priority differ depending on your online sales channel mix — own storefront, online marketplace, mobile app, etc.

• Product categories handled

  Confirm in advance whether your products fall under a restricted category per the Bank transfer operator's merchant policy

• EU regulatory compliance

  Confirm compliance with EU payment regulations such as PSD2 and SEPA (see official sources below)

Euros (EUR) deposited via bank transfer are received by Hecto Financial, converted, and paid to Korean merchants in the currency chosen at the time of contracting among USD, KRW, and JPY. Since a transfer is a push payment sent by the buyer, there is no chargeback; instead, if a refund is needed, the merchant must initiate a reverse transfer, so the processing procedure and deadline for returns and cancellations should be defined in advance.

• De Nederlandsche Bank (Dutch central bank)Official information on the Netherlands' payment systems and supervisory regulations. If the content of this page differs from the actual regulations, the official source takes precedence.