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Nordea’s suppliers receive faster payments
Nordea wants to help our suppliers to cope with the difficult financial situation caused by the coronavirus outbreak.
As many businesses urgently need liquidity at the moment, we will now process the payment of invoices much faster. Consequently, we will temporarily disregard our normal contractual payment terms and pay our invoices as soon as they are ready.
This approach will be effective for the next six months or until further notice. We expect this to benefit our large network of suppliers as the invoices payable over the coming 6-month period will total several hundred millions euros.
On average, the invoices will be paid 20 days earlier, however some invoices might still require a longer processing time.
This change is already effective and no action is needed from our suppliers.
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