Payments

You can confirm up to 10 payments using biometric identification (through fingerprint or facial recognition), provided that none of them exceed 100 euros. The 11th payment needs to be confirmed using Mobile ID, Smart ID or PIN2 on your ID card. Thereafter you can confirm another 10 payments using biometrics.

This limit applies in all channels: when making payments in our Internet and mobile banks, at third-party outlets and via a bank link.

The number of times you can confirm payments using biometrics is user-based and covers all of the accounts you are authorised to use – so for example you can still only confirm 10 consecutive payments even if you do so from your own account, your child’s account and your company’s account one after the other.

Biometrics cannot be used to confirm more than one payment at a time.

To confirm a payment in the app using biometric authentication you will need to show your face to your device’s camera or place your finger on the screen after clicking ‘Confirm’ on the payment form.

When using biometrics to confirm a payment in the Internet bank, at a third-party outlet or via a bank link you will receive a payment confirmation notification on your phone which opens in the app in the form of a control code. If you don’t receive such a notification, open the app using the control code to view the payment form. If the code on the app form is the same as the one shown in the channel in which you initiated the payment and your face or fingerprint is recognised, your payment is confirmed.

You will still need to use Mobile ID, Smart ID or PIN2 on your ID card to enter into or amend contracts.

All you need to know now to make a payment in the mobile bank is the name and phone number of the payee. Allow access to the contacts on your phone and when you initiate a payment, you get the account number of the selected person on the basis of the phone number. You can also enter the phone number in the payee field manually and you will get the payee’s account number for the payment order on the basis of the phone number.

Link your account to your phone number in the mobile bank so that others can make payments to you on the basis of your phone number. The data linked to a Coop Pank account can only be changed or deleted in our mobile bank. Read the privacy policy of Coop Pank here.

The name payment on the basis of the phone number is only meant for private clients and you can therefore only link your phone number to a private person’s account. Accounts that are used on the basis of a power of attorney cannot be linked to a phone number. Children and parents are an exception. Since many children are not mobile bank users yet, a parent can link the child’s account to the child’s phone number.

When a name payment is made between banks, the data are kept on a central register to which the banks that provide the service send the client’s name, account number and phone number with the client’s consent. Read the list of the service providers that use the central register here.

If possible, we always make payments as instant payments, which arrive in the payee’s account in seconds. If this is not possible for technical reasons, we make the payment as an ordinary European or SEPA payment. Settlements between the banks of the SEPA region take place several times a day. A payment made by a Coop Pank client will get to another bank on the same day if it is made before 15:30. The estimated times of receipts are:

 * The time when payments are received in other banks depends on the internal processes of each bank.

A SEPA payment initiated in the weekend will reach the payee on Monday after 8:45.

Coop Pank has instant payment capability, which means that we can receive the instant payments sent to us as instant payments as well. If the other bank did not send a payment to us as an instant payment, the receipt of the amount in the payee as a SEPA payment make take a little longer.
Receipt times:

* The times are different in respect of other banks, the times here are estimates. The exact information is obtained from the bank that initiated the payment.

There may be some exceptional cases where a payment may take longer to arrive. This may happen as a result of the bank’s control systems, technical situations, etc.

E-invoice is an electronic invoice sent to the Internet bank that replaces invoices sent on paper or via e-mail.

In Coop Pank Internet bank, you are able to order e-invoices at once from all companies that have joined the arved.ee environment.

In order to conveniently pay your e-invoices, enter into a standing order agreement and the bank will automatically handle your transfers based on the e-invoices you have received.

Why use?

• Convenient – e-invoice standing order is effected automatically (no need to remember payment deadlines)
• Simple – all you have to do is make sure that you have the amount required for payment in your account
• Environmentally friendly – trees required for the production of paper invoices are left growing

Review the conditions of the e-invoice standing order agreement.

Standing orders are excellent for making regular payments of a fixed amount (e.g. for transferring pocket money to your child).

Standing orders can be used to automatically transfer a specific amount or your entire account balance. You are able to define the frequency of payments yourself: once a day, once a week, once a month, or once every quarter.

Why use?

• Convenient – payment is effected automatically (no need to remember payment deadlines)
• Simple – all you have to do is make sure that you have the required amount in your account

Review the conditions of the standing order agreement.

• Terms and Conditions of the Execution of Payment Transactions
• Leaflet: Your rights when making payments in Europe
• Correspondent banks
• Countries for which settlements are limited
• Price list