Overview
| Payment Type | SWIFT (Priority) | Local (Regular) |
| Cut off time (CET) |
Currencycloud B.V. clients: 17:15 Currencycloud Ltd. clients: 18:00 |
24 hours a day processing (Monday - Friday) 24 hours a day processing |
| Cut off time (UK Time) |
Currencycloud B.V. clients: 16:15 Currencycloud Ltd. clients: 17:00 |
24 hours a day processing (Monday - Friday) 24 hours a day processing |
| Delivery time frame | 0 days | 0 days |
| Maximum payment size | No limit | £1,000,000 |
| Payment Scheme | CHAPS (GBP to the UK) Swift (GBP to any other country) |
Faster Payments Service (FPS) |
| Destination countries | Any (excluding sanctioned) | United Kingdom, Gibraltar, Guernsey, Isle of Man, Jersey |
| Traces | Yes | No |
| Recalls | Yes | No |
| Ultimate payer displayed? | Yes | Yes |
Required Details
Local (Regular) Payment
| Field | Individual | Company | Permitted Data | Notes |
| Beneficiary Entity Type | ✓ | ✓ | ‘individual’ or ‘company’ only | |
| Beneficiary First Name | ✓ | ✕ | 1-255 characters* | The scheme accommodates a maximum of 40 characters, accepting alphanumeric characters as well as these special characters: - / ? : ( ) . , + # = ! % & * < > ; { @ " ' Spaces are also permitted. |
| Beneficiary Last Name | ✓ | ✕ | 1-255 characters* | The scheme accommodates a maximum of 40 characters, accepting alphanumeric characters as well as these special characters: - / ? : ( ) . , + # = ! % & * < > ; { @ " ' Spaces are also permitted. |
| Beneficiary Company Name | ✕ | ✓ | 1-255 characters* | |
| Account Number | ✓ | ✓ | 8 digits | We validate that the account number provided is a valid one. We do not currently perform checks against the account name. |
| Sort Code | ✓ | ✓ | 6 digits | |
| Payment Currency | ✓ | ✓ | 3 letter ISO currency code | |
| Payment Amount | ✓ | ✓ | Numeric amount | |
| Payment Reference | ✓ | ✓ | 1-255 alphanumeric characters | The scheme only supports 18 alphanumeric characters. The reference field will be truncated to fit this limit. |
| Payment Reason | ✓ | ✓ | 1-255 alphanumeric characters | |
| Payer Entity Type | ✓ | ✓ | ‘individual’ or ‘company’ only | |
| Payer First Name | ✓ | ✕ | 1-255 characters* | |
| Payer Last Name | ✓ | ✕ | 1-255 characters* | |
| Payer Company Name | ✕ | ✓ | 1-255 characters* | |
| Payer Address | ✓ | ✓ | 1-255 characters* | |
| Payer City | ✓ | ✓ | 1-255 characters* | |
| Payer Country | ✓ | ✓ | 2 letter ISO country code | |
| Payer Date of Birth | ✓ | ✕ | ISO 8601 format (YYYY-MM-DD). |
* Please note that non ASCII characters will be transformed to ASCII equivalent or removed on a best endeavors basis in order to comply with the restrictions of the domestic payment scheme.
SWIFT (Priority) Payment
| Field | Individual | Company | Permitted Data | Notes |
| Beneficiary Entity Type | ✓ | ✓ | ‘individual’ or ‘company’ only | |
| Beneficiary First Name | ✓ | ✕ | 1-255 characters* | |
| Beneficiary Last Name | ✓ | ✕ | 1-255 characters* | |
| Beneficiary Company Name | ✕ | ✓ | 1-255 characters* | |
| Beneficiary Address | ✓ | ✓ | 1-255 characters* | |
| Beneficiary City | ✓ | ✓ | 1-255 characters* | |
| Beneficiary Postcode | ✓ | ✓ | 1-12 characters* | Only required when sending payments to Canada, Mexico and the USA. |
| Beneficiary State or Province | ✓ | ✓ | 1-255 characters* | Only required when sending payments to Canada, Mexico and the USA. |
| Beneficiary Country | ✓ | ✓ | 2 letter ISO country code | |
| IBAN | ✓ | ✓ | 15-34 alphanumeric characters; spaces permitted | Account number can be used when sending GBP payments to the United Kingdom, Guernsey, Isle of Man, and Jersey, and all non-IBAN countries. IBAN must be used when sending GBP to all other IBAN countries. |
| Account Number | ✓ | ✓ | Varies per destination country | Account number can be used when sending GBP payments to the United Kingdom, Guernsey, Isle of Man, and Jersey, and all non-IBAN countries. IBAN must be used when sending GBP to all other IBAN countries. |
| CLABE | ✓ | ✓ | 18 digits | CLABE must be used instead of account number or IBAN when sending payments in any currency to Mexico. CLABE is the banking standard for the numbering of bank accounts in Mexico (equivalent to the Account Number in other jurisdictions). |
| BIC Swift | ✓ | ✓ | Valid ISO 9362 Swift BIC code; 8 or 11 alphanumeric characters | Sort code can be used when sending GBP payments to the United Kingdom, Guernsey, Isle of Man, and Jersey. When sending GBP to any other countries, BIC Swift must be used. |
| Sort Code | ✓ | ✓ | 6 digits | Sort code can be used when sending GBP payments to the United Kingdom, Guernsey, Isle of Man, and Jersey. When sending GBP to any other countries, BIC Swift must be used. |
| Payment Currency | ✓ | ✓ | 3 letter ISO currency code | |
| Payment Amount | ✓ | ✓ | Numeric amount | |
| Payment Reference | ✓ | ✓ | 1-255 alphanumeric characters | Anything over 132 characters will be truncated. |
| Payment Reason | ✓ | ✓ | 1-255 alphanumeric characters | On the MT103, this is appended after the payment reference if there is space remaining. |
| Payer Entity Type | ✓ | ✓ | ‘individual’ or ‘company’ only | |
| Payer First Name | ✓ | ✕ | 1-255 characters* | For payer name on the MT103, payer first name and payer last name are joined together and truncated to 35 characters. |
| Payer Last Name | ✓ | ✕ | 1-255 characters* | For payer name on the MT103, payer first name and payer last name are joined together and truncated to 35 characters. |
| Payer Company Name | ✕ | ✓ | 1-255 characters* | |
| Payer Address | ✓ | ✓ | 1-255 characters* | |
| Payer City | ✓ | ✓ | 1-255 characters* | |
| Payer Postcode | ✓ | ✓ | 1-12 characters* | Only required when sending payments to Canada, Mexico and the USA. |
| Payer State or Province | ✓ | ✓ | 1-255 characters* | Only required when sending payments to Canada, Mexico and the USA. |
| Payer Country | ✓ | ✓ | 2 letter ISO country code | |
| Payer Date of Birth | ✓ | ✕ | ISO 8601 format (YYYY-MM-DD). | |
| Payer Identification Type | ✕ | ✓ | ‘incorporation_number’ only | |
| Payer Identification Value | ✕ | ✓ | 1-255 characters* |
* Please note that non-supported characters will be transformed to EBCDIC equivalent or removed on a best endeavors basis in order to comply with the restrictions of the SWIFT payment network. The permitted characters on the SWIFT network are letters, numbers, spaces and the following symbols:
/ – ? : ( ) . , ‘ +