International Payments
An international payment is a payment made to an individual or company outside of the UK.
What information do I need to set up an international payment?
To set up an international payment, you’ll need the following:
- The transfer amount
- The IBAN (International Bank Account Number) of your recipient
- The BIC (Bank Identifier Code) or SWIFT code for the bank your recipient uses.
We may ask you for further information such as the overseas bank name and address, when sending payments to some countries, or when sending a payment in GBP.
You can no longer make international payments through online banking. To make an international payment, please call us on 03457 212 212. Lines are open 8am - 6pm Monday to Friday, 9am - 5pm Saturday and Sunday (charges apply).
Where do I go to set up an international payment?
To make an international payment, please call us on 03457 212 212. Lines are open 8am - 6pm Monday to Friday, 9am - 5pm Saturday and Sunday.(charges apply)
Where will I find the right IBAN and BIC / SWIFT code?
You’ll need to ask your international payment recipient for their IBAN and BIC or SWIFT code; which can usually be found on their statements.
Can I set up my international payment to come out on a future date?
No, it isn't possible to future date an international payment - it will be processed immediately.
How long will each international payment take to reach the recipient?
If it is a euro payment to a recipient within the EU/EEA it will reach the recipient by the end of the next working day.
Other EEA currencies will reach the recipient within 3 working days.
Payments to non-EE/EEA may take up to 5 working days.
All times mentioned in reference to international payments are GMT (British time).
My international payment hasn't been made - what should I do?
There are a few reasons why your international payment may not be successful:
- You have given an invalid IBAN for your recipient
- You have given an invalid BIC code for your recipient
- You do not have the necessary funds to make the payment
- You have exceeded the maximum payment amount for international payments.
If you have any queries about international payments, please contact us for help.
International Payment charges
There are charges for making a foreign transfer and these can be found in the table below along with the different types of foreign payment methods.
| Payment Type | Charge |
| SWIFT - Transfers in sterling or foreign currency to almost anywhere in the world, within 1-4 business days. | 0.25% (min £13, max £35*) |
| Structured USD Payments - Low cost way of sending US Dollars to the USA which will take up to five business days. | £8 |
| Single Euro Payment Area (SEPA) Payments - Transfer euros to all EU Member States as well as Iceland, Lichtenstein, Norway, Monaco and Switzerland. Funds should be received by close of business on the next working day and both the remitter and beneficiary have to have an account within the SEPA region. | £0 |
| Real Time Euro Payments (TARGET) - This is a method of transferring funds overseas as Euros. This payment is received on the same day if keyed before 2pm, but can take 1-3 business days if there are problems from the recipient's side. Fax confirmation required if transfer is over £10,000. | £25* |
| Enquiries, amendments and cancellations - Fees from any enquiry investigated at your request regarding a payment abroad. These fees are also payable for our handling of enquiries from overseas banks concerning your payment instructions. However, where this investigation has resulted from an error by The Co-operative Bank, or one of its agents, the fee will be waived. | £20* |
*Plus postage, transmission and agent's charges where applicable.
Where a payment gives you a full range of charging options (shared, sender or recipient) agent fees are usually applicable.
Payments outside the European Economic Area and USA require the use of an agent/correspondent bank to forward the funds onto the recipient's bank. This charge can vary depending on the destination, currency and complexity of the transfer. The additional charging options allow you to specify who pays the two sets of charges.
Protecting your money
Your eligible deposits with The Co-operative Bank are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK’s deposit guarantee scheme. This limit is applied to the total of any deposits you have with The Co-operative Bank and smile. Any total deposits you hold above the limit between these brands are unlikely to be covered.
Please read further information on the FSCS scheme here or visit their website