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Advice on setting up beneficiary accounts

April 29, 2013 6:24 pm Published by

If you need to transfer money overseas, it’s vital you have the correct beneficiary account information before your currency is sent. Incorrect details can result in your payment not being received and playing a waiting game for your funds to be returned.

To make sure this doesn’t happen to you, check you have the right details first and contact us if you would like any further advice or assistance on how to set them up.

Here is a quick summary of what you need for our top three currencies:

Euros

  • Beneficiary account name
  • Bank name
  • IBAN number
  • SWIFT code

If we receive your currency by midday, your Euro payment will arrive in the beneficiary account the same day.

US Dollars

  • Beneficiary account name
  • Bank name
  • Account number
  • SWIFT code or US Fedwire number/Routing number

If we receive your currency by midday, your US Dollars will arrive in the beneficiary account the same day.

Dirhams

  • Beneficiary account name
  • Bank name
  • IBAN number
  • SWIFT code

Once your funds have been sent, the Dirhams will take 2-3 working days to reach the beneficiary account.

Don’t forget that when you send a payment to the UAE their weekends fall on different days to the UK – take a look at our blog on transferring money to the UAE for more tips!

Need some help with setting up beneficiary account details? Contact us on [email protected] or 020 3603 8940.

 

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This post was written by Kayleigh Driscoll

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