International Payments – GBP to GBP

What are GBP to GBP International Payments?

With Contis’ API solution, clients can offer their customers the capability to send sterling (GBP) to a beneficiary overseas. The solution relies upon the beneficiary bank being able to receive a payment in sterling.

Senders should check with the beneficiary that their bank can accept an inbound GBP payment before completing the transaction, otherwise the payment may get rejected but the sender will still be charged.

How do GBP to GBP International Payments work?

Contis uses a third party, a payout partner, to make the payment. As part of the transaction the client will need to collect, from the sender, all the details required by the beneficiary bank including:

• Amount of the transaction
• Senders name, address, and possibly some identification depending on the country the funds are being sent to
• Beneficiary’s bank account details, for example BIC, IBAN, Local Account Number, Routing Number
• Beneficiary’s name and address
• Name and address of the beneficiary’s bank
• Reason for the payment
• Other details may be required, and can be country specific.

Once all of the details have been collected, the total cost of the transaction will be debited form the customers account, and the instruction will be sent to our payout partner.

How long does the payment take to arrive?

The payment will take between 2 and 5 days.  There are a number of factors that impact the timeline, includingthe destination country, whether the beneficiary bank is directly connected to the payment network or whether it uses a correspondent bank or whether the payment needs to be converted from GBP to another currency by either the beneficiary bank, or by a correspondent bank.

Which countries are supported?

Contis can send payments to over 50 countries, all payments assume the sender is based in the UK. If the beneficiary is not based in the UK, then further checks will be required, which may delay the payment.  A list of supported countries can be found here. All GBP to GBP payments are made using the SWIFT network.

Why do I need to provide further details?

International payments can be subject to additional compliance checks, over and above those required for a domestic payment, both Contis and our payout partner will check the payment and may well hold it in order to obtain further detail. If further detail is required, Contis will try and contact the sender to obtain the additional information. If the information cannot be provided, the payment will be cancelled and the funds returned to the senders bank account.

What happens if the beneficiary bank doesn’t accept the payment?

There are a number of reasons the beneficiary bank may not accept the payment, it could be that the account is closed, restricted, or that it cannot receive payments in GBP. In these case, the payment will be returned by the beneficiary bank, this may take several days.

How to implement GBP to GBP international payments

At Contis GBP to GBP international payments are available on a GBP programme.

• Existing clients should contact their Account Manager to have this facility and feature made available. Contis will need to set up the necessary configuration to allow GBP to GBP International Payments.
• New clients should contact their Commercial Manager or Client Solution and ask about to GBP International Payments.

Methods of sending funds

All payments will be sent via SWIFT

List of APIs to be used

Countries supported