United Kingdom
Overview
| Transfer method | Local | Local | Local | SWIFT |
|---|---|---|---|---|
| Local clearing system | FASTER_PAYMENTS (The default LOCAL GBP payout option when local_clearing_system is not specified) | CHAPS | ||
| Supported currency(ies) | GBP | GBP | EUR | AUD, CAD, CHF, CNY, CZK, DKK, EUR, GBP, HKD, HUF, ILS, JPY, NOK, NZD, PLN, RON, SEK, SGD, THB, TRY, USD, ZAR |
| Payment scheme | Faster Payments | CHAPS | SEPA Instant / SEPA* | |
| Flight time (business days) | 0-1 | 0-1 | 0-2 | 0-3 |
| Maximum transaction limit | 1,000,000 GBP | No limit | No limit | No limit |
| Ultimate payer displayed | Yes | Yes | Yes | Yes |
* Note:
- SEPA flight time: When the payout amount is > 100,000 EUR or the recipient bank does not support SEPA Instant, the transaction will be processed via SEPA with a flight time of 0-2 business days.
Please refer to the sections below for the key required bank details and other considerations for each supported transfer method.
Local GBP payout
The following reuqirements apply for all GBP LOCAL payouts, including those via Faster Payments or CHAPS:
| Required fields | Permitted Data | Notes |
|---|---|---|
account_currency | 3-letter ISO 4217 currency code | Should be GBP |
account_name | 2-200 characters | Account holder name of the recipient’s bank account |
account_number | 8 digits | |
account_routing_type1 | sort_code only | |
account_routing_value1 | 6 digits | |
iban | 22 alphanumeric characters | Should be a valid and supported IBAN starting with country code “GB”** Only required when account_routing_type1, account_routing_value1 and account_number are not provided |
bank_country_code | 2-letter ISO 3166-2 country code | Should be GB |
Note that either a complete combination of local account details (account_routing_type1, account_routing_value1 and account_number) or an iban field is required for a GBP LOCAL beneficiary. When both the local account details and an IBAN are provided, only the former will be used for routing and payout.
Local EUR payout
| Required fields | Permitted Data | Notes |
|---|---|---|
account_currency | 3-letter ISO 4217 currency code | Should be EUR |
account_name | 2-200 characters | Account holder name of the recipient’s bank account |
iban | 22 alphanumeric characters | Should be a valid and supported IBAN starting with country code “GB”** |
bank_country_code | 2-letter ISO 3166-2 country code | Should be GB |
SWIFT payout
| Required fields | Permitted Data | Notes |
|---|---|---|
account_currency | 3-letter ISO 4217 currency code | One of AUD, CAD, CHF, CNY, CZK, DKK, EUR, GBP, HKD, HUF, ILS, JPY, NOK, NZD, PLN, RON, SEK, SGD, THB, TRY, USD, ZAR |
account_name | 2-200 characters | Account holder name of the recipient’s bank account |
iban | 22 alphanumeric characters | Should be a valid and supported IBAN starting with country code “GB”** |
bank_country_code | 2-letter ISO 3166-2 country code | Should be GB |
** British (GB) IBANs may include bank accounts located in Gibraltar, Guernsey, Isle of Man and Jersey.
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