Money Transmission Service - Frequently Asked Questions

What types of payments can I make?  

• CHAPS - Same Day UK GBP Payment
• SWIFT - Payments sent in a currency other than GBP to any world destination.
• BACS - 3 working day UK payment
• DRAFTS - Currency and GBP drafts are available

How do I make a U.K. payment?  

UK Payments can be made either online or by contacting us on +44 (0)1534 613 500.

How do I make an international payment? 

You can make international payments by Telephone/Internet/Postal Request. 

What is an IBAN? 

An IBAN is an International Bank Account Number  

Why do I need an IBAN?

• The International Bank Account Number (IBAN) is an account number in a format/structure that makes it internationally recognisable.
• This information is provided by the beneficiary and is essential in ensuring that the payment is delivered to the correct beneficiary account.
• Payments in Euros to the EU must quote an IBAN. Payments to the EU will not be sent if the IBAN is not quoted.

What is a BIC(also known as SWIFT)?

A BIC is a Bank Identifier Code

Why do I need a BIC?

• The Bank Identifier Code (BIC) is used to identify the beneficiary's bank and branch similar to sort codes in the UK.
• This is provided by the beneficiary bank and is used to ensure that the payment is delivered to the correct bank and branch . 

How much will my payment transfer cost?

Please refer to the following link for charge information on transfers.  Please note that additional charges may be applied by beneficiary and correspondent banks which we have no control over.

When will the payment be received?

• CHAPS - Received by the beneficiary bank the same day
• BACS - Received by the beneficiary  bank  on the 3rd working day
• SWIFT - Up to 5 working days.  

Payments may be delayed if incorrect information is provided or the daily cut off time for international payments of 1pm has passed. 

What happens if the payment is not received?

If your payment has not been received by the beneficiary bank afer 5 working days please contact us and we will investigate this for you. 

Cut Off Times

Instructions received by Bank of Scotland International before 1pm GMT will be processed the same day. Instructions received after 1pm will be held over until the following working day.

How do I send money to my Halifax / Bank of Scotland Account?

Click here for Inward Routing Details.