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International payments
International payments are a fast and efficient method of sending and receiving money from abroad. You don't need a currency account - it can easily be done from your current account. Outward payments are for sending money and Inward payments are for receiving it.
1. Outward payments - International payments
Express payments
This is a fast, electronic transfer method with payments usually arriving at the payee's bank overseas within 2 business days.
Payments are processed on the same day if received at Payment and International Services, Glasgow, before the following cut-off times:
- For payments in local currency, i.e. dollars being sent to the USA, instructions should be received before 12 noon on any working day
- For US Dollar and Euro payments delivered via the Bank's Home and Office Banking Service, Corporate HOBS, later cut-off times apply:
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- 2pm for cross-border Euro payments
- 4pm for US Dollars
- Payments can be instructed via Corporate HOBS until 6pm on any business day. Instructions received after the relevant cut-off times will be processed the following business day
Foreign drafts
Drafts can be issued in foreign currencies or sterling. They are recommended when you want to make a lower value 'non-urgent' payment directly to the beneficiary.
We offer a competitive pricing package to suit your business which we would be pleased to discuss with you.
2. Inward payments - International payments
This is a quick, secure and efficient way of receiving funds. Payments may be made in foreign currencies or sterling.
- Inward payments in foreign currency may be converted to sterling and paid to your sterling account, or kept in the same currency and paid into a currency account
- We can provide you with tailored documentation which you can issue to overseas remitters of funds or incorporate into your invoicing
- If overseas banks follow these instructions, this should ensure remittances are sent directly to the Bank of Scotland
- This will speed up the receipt of funds into your account
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Next steps
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Email us to find out more about International payments
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| Alternatively, you can call us on 0845 300 0268 24 hours a day, 7 days a week |
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