Payment Information
Information on various Types of Payment
With Complete Currency all transfers over £5000 are fee free.
To facilitate the rapid transfer of payments it is essential that we are given the correct IBAN and SWIFT code for the beneficiary bank account, otherwise payment may be delayed.
IBAN
(International Bank Account Number)
IBAN’s were introduced to facilitate rapid and precise money transfer. They are standardised bank account numbers. The concept was developed by the International Organisation for Standardisation (ISO). An IBAN enables the identification of bank accounts worldwide.
An IBAN can consist of:
EG 1:
IE Country Code for Ireland
99 Two digit Checksum
BOFI Bank Identifier Code
901490 National Sort Code
12345678 Customer Account No
EG 2:
TR Country Code for Istanbul
And then a series of no’s ranging from
23-25 numbers
SWIFT / BIC
(Society for World-wide Interbank Financial Telecommunications / Bank identifier Code)
A SWIFT codeidentifies the payment beneficiary’s bank (the bank designated to receive the funds transfer). It usually consists of 8 to 11 characters that add bank identification to the details provided by the Basic Bank Account Number (BBAN). Although SWIFT has been renamed Bank Identifier Code (BIC), most banks still refer to it as SWIFT.
CHAPS
(Clearing House Automated Payments System)
CHAPS is a bank-to-bank same-day value payment made electronically within the UK in either sterling or euro.
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