Pohjola Bank will make the transfers this year and for the next seven years. This is the first time the payments will be delivered according to the SEPA (Single Euro Payments Area) standard, an EU-wide system harmonizing bank transfers.
This change means that refunds won’t appear in accounts at midnight. Transactions will instead be made throughout the day on December 5.
More than 3 million people are due to receive tax refunds for a total of 2.3 billion euros.
Last year some Nordea Bank customers received a surprise when their tax refunds were erroneously paid into their accounts twice.
