What is a BIC/SWIFT code?
BIC stands for Bank Identifier Code. It is a unique code that identifies a particular bank in a specific country. It helps us process transactions efficiently and quickly, and payments to the EEA (European Economic Area), Bahrain and UAE (United Arab Emirates) cannot be made without it.
Where can I find a recipient's BIC/SWIFT code?
You'll need to ask your recipient for the BIC/SWIFT code of their bank.
What is an IBAN?
IBAN stands for International Bank Account Number. It is a unique code that identifies an individual bank account. We won't be able to process your payment to the EEA and EU countries as well as a number of other countries globally without a BIC and IBAN.
If this information is not included it may delay your payment being sent. Please check with the person receiving the money if an IBAN and /or BIC is needed to make a payment. You can also check which countries need an IBAN for a payment to be processed here.
Will you take the money from my account for an international payment right away?
For Payments made before 3.00pm on a business day, your account will be debited the same working day. For payments made on or after 3:00pm on a business day, your account will be debited the next working day. Payments submitted on or after 3:00pm on a Friday (as long as that Friday is a working day) will be debited the next working day, please note Saturdays are not classed as working days.
What is a transfer charge?
This is our upfront charge to you for making an international payment. Please note that while you will pay our transfer charges, the person receiving the payment pays all other charges. This may result in the person receiving the payment receiving a lesser amount than you have sent, or these charges may be debited from their account separately. Other charging options are available in branch or via telephone banking. Our international payments calculator is available to you after you've logged into Internet Banking to demonstrate how much each payment will cost.
How many international payments can I make each day?
International payment limits are set by each account and not for each individual customer. You can make any number of payments up to a total amount of £75,000 per account per day.
Can I make more than one payment to the same recipient each day?
Yes. You can make as many payments as you want as long as you don't go over your daily payment transaction limit of £75,000 and you have enough money in your account to make payments.
How do I send money abroad online?
If you're a TSB Current Account customer log on to Internet Banking to send money abroad.
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