International payments

 

International payments

Whether you’re trading with the United States or United Arab Emirates, Turkey or Taiwan, we can help you make and receive international payments quickly, securely and cost-effectively.

Making international payments

We recommend making international payments by electronic transfer as the most secure and fastest method. You can do this online, by telephone or in branch, through 2 methods. The one you choose depends on where the payment is being made to and how quickly you want the funds to be received. Your Business Development Manager can advise you on this.

  • Barclays International Payments Service (BIPS) – send funds electronically to practically any destination in the world. You can choose between:
    • Standard payments – funds received in Europe and North America between 3-4 working days and the rest of the world within 8 working days if sent by 4pm
    • Priority payments – funds received in Europe and North America between 1-3 working days and the rest of the world within 7 working days if sent by 2pm
  • Single Europe Payment Area (SEPA) Credit Transfer – we provide this European directive for Euro payments in the EU, where you can benefit from reduced fees and a faster delivery if you provide the International Bank Account Number (IBAN) and SWIFT Bank Identifier Code (BIC). For example, funds are guaranteed to be in the beneficiary’s account the next working day if they’re sent by 4pm

If you’re registered for our free Barclays Business Abroad service, you can benefit from a 25%* discount on all international payment fees.

How much it costs
The cost of making international payments depends on the option you choose:

  • Barclays International Payment Service
    • Standard (in branch/telephone) – £25
    • Priority (in branch/telephone) – £40
    • Priority (online) - £25. Please note that all online payments are processed as Priority at this reduced fee
  • SEPA Credit Transfer - £15 whether you do it online, in branch or by telephone

 

Watch our video guide to making an international payment in Online Banking.

 

What to do
To ensure your payment goes through as quickly and seamlessly as possible, you’ll need to provide us with the following information about the person or company receiving the funds:

  • Their full name, or company name
  • Their bank’s address
  • Their International Bank Account Number (IBAN), if applicable
  • The Bank Identifier Code (BIC) or SWIFT code

Please note that some countries require additional information to process payments. To check the specific requirements for the country you’re sending money to, please see our ‘ Country and currency list ’.

Read Barclays Business Abroad terms and conditions

* Terms and conditions apply.

Receiving international payments

As with making international payments, we recommend that you have overseas money paid into your account by electronic transfer. We can clear international drafts and cheques into your account, but this is more expensive and can take longer for funds to clear. Please note that as cheques aren’t cleared funds, they can be returned unpaid.

What to do
With an electronic bank transfer, funds will be automatically credited to your account and converted to sterling at that day’s exchange rate. You may also receive currency payments direct to your Barclays currency account. All you need to do is provide the payer with:

  • Our bank name in full – Barclays Bank Plc
  • Our SWIFT Bank Identifier Code (BIC) – BARCGB22
  • Your account name
  • Your International Bank Account Number (IBAN) – you can find this on your statement or just use the IBAN generator below.

Your IBAN is similar to your usual account number, but with extra information that helps the overseas bank identify your account and make the payment.

To generate your IBAN, simply enter your Barclays sort code & account number into our tool.

Remember, you can only use this tool to generate IBANs for your Barclays accounts.

And you can’t generate an IBAN number for someone else – if you need their IBAN to make a payment, you’ll need to ask the person for it.

How much it costs
There is no charge for payments from EU/EEA countries so long as a valid IBAN and SWIFTBIC are provided. If the payment is in a different currency, there will be a £6 charge.

If you’re registered for our  Barclays Business Abroad  free service, you can benefit from a 25% discount on international payment fees.

Considering a currency account?
If you regularly make or receive payments in a specific currency, you may want to consider opening a Barclays currency account to better manage your exchange rate exposure. You can speak to one of our   International Trade Business Managers to discuss this in more detail.

Managing foreign exchange

To find out how best to manage foreign exchange for your business – for example, if you should utilise a currency account – we recommend speaking to one of our  International Trade Business Managers .

For more information on international payments, speak to your Business Development Manager or get in touch with one of our  International Trade Business Managers