Bank of Scotland Business Banking logo
Products and Services image
 
  • Current Accounts HOME

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:

  • 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

Next steps

Email us to find out more about International payments

Alternatively, you can call us on 0845 300 0268 24 hours a day, 7 days a week