What you need to know about sending money outside the UK
How to send money outside the UK
This can be sent to an individual or company.
To send the money, you’ll need the following:
- Your card reader and valid debit card
- The transfer amount
- The IBAN (International Bank Account Number) of your recipient
- The BIC (Bank Identifier Code) / SWIFT code for the bank your recipient uses
Log in to online banking and visit our International Payment section within Move Money, and you’ll be guided through the whole process.
Sending euros outside the UK
If you are sending euros outside the UK then you should do so through either a SEPA or a Real Time Euro Payment (TARGET2). For urgent payments, please request a Real Time Euro Payment (TARGET2) as these will be completed on the same day, but for a higher tariff. Should you wish to send money in any other major currency, a SWIFT or US Structured payment can be used. A US Structured Payment is ideal for sending low value dollar amounts to the USA.
Sending money outside the UK
There are charges for sending money outside the UK and these can be found in the table below along with the different types of 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 between all EU Member States as well as Iceland, Lichtenstein, Norway, Monaco and Switzerland. Funds should be received by close of business on the next Business Day and both the remitter and beneficiary have to have an account within the SEPA region. £8
Real Time Euro Payments (TARGET2) - This is a method of sending money outside the UK in euros. This payment is received on the same day if keyed before 2pm, but can take 1-3 Business Days, depending on the recipient bank. 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 outside the UK. These fees are also payable for our handling of enquiries from banks outside the UK 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 (EEA) 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.
What payment method will be used when I make an online request to send money outside the UK?
The online facility will automatically default to the most economical method of payment for the currency and country selected. For example, if you are sending euros within the EEA, then this will be done by a SEPA payment. Sending US Dollars to the USA will use a USA Structured Payment.
If your selected payment is out of scope for a SEPA or US Structured payment, then the transfer will be processed by SWIFT.
Payments sent outside of the EEA 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.
Where a payment gives you a full range of charging options (shared, sender or beneficiary), agent fees are usually applicable. The additional charging options allow you to specify who pays the two sets of charges. Please note that any payments made to a EEA country, in either EEA or non-EEA currency, must have shared charges.
What is the quickest way to receive money from outside the UK?
The fastest way to receive a payment from outside the UK is through an electronic transfer. To receive a payment you will need to provide the sender with the following information:
Our registered address:
The Co-operative Bank plc,
Po Box 1011,
Our SWIFT/BIC code: CPBKGB22
The IBAN (International Bank Account Number) for your account (this can be found on your statement, or when you log into online banking)
You may also need to give the sender your sort code and account number if they're sending money from a country that doesn't use IBAN.
We will send you a letter confirming receipt of any payments made through our cross-border payments system, showing the amount received and any deductions made from the original amount requested.
Can I arrange to send money outside of the UK on a future date?
No, it isn't possible to future date sending money outside the UK - it will be processed immediately.