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