The information you need to supply when making a transfer to a bank overseas varies from country to country.
The code identifying the name of the bank and branch is often called a BIC (Bank Identifier Code), but may also be referred to as a SWIFT code. It will generally contain either 8 or 11 characters, the first 6 being letters of the alphabet.
European banks (and many others) use International Bank Account Numbers (IBANs) to identify accounts. IBANs are made up of numbers and letters, and include the country code, the bank code and the account number. If an account does not have an IBAN, you will need to provide the account number.
The following countries have specific requirements:
|
Country |
What you need to supply |
|---|---|
| Thailand | A reason for making the payment |
| Korea | A reason for making the payment plus a contact telephone number for the person receiving the money |
| India | An Indian Financial System Code (IFSC)* and the full postal address and PIN number (postal code) of the branch where the account is held |
| Canada | A 9 digit transit code* |
| Australia | A 6 digit BSB (Bank-State-Branch) code* |
| New Zealand | A 6 digit bank code* |
| Israel | A 2 digit bank code followed by a 3 digit branch code* |
| Mexico | An 18 digit CLABE which includes both the routing and account numbers |
| USA | A 9 digit ACH (also known as a Fedwire or ABA) number instead of a BIC |
* These codes are written in front of the account number.
Occasionally, the person you are making the payment to may name an intermediary bank (that's a bank through which the payment will pass). You should include the name of this bank on your Foreign Currency Transfer application form.
Top Tip!
The more information you can provide, the more likely the payment will be received successfully without delay. It's always worth asking the person you're sending money to for as much detail as possible from their bank.
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