Last updated: 15/01/2018 11:48:42

SWIFT Important Information

Charges
We make a transaction charge of £20 to send a SWIFT payment.

If you are making a payment within the EEA you must pay our charges yourself and the recipient will have to pay their bank’s charges. We will use our standard outbound exchange rate to convert your payment from Sterling to your choice of currency. This will affect what is received by the recipient. 

You can make a payment to a country in the SEPA region in Euros, it will be sent by a SEPA Credit Transfer rather than SWIFT. There will be a £9** transaction charge. We will use our standard outbound exchange rate to convert your payment from Sterling to Euros.  This will affect what is received by the recipient.  You can ask us to make a SEPA Credit Transfer now or check the All about SEPA Credit Transfers pages in branch or on Nationwide.co.uk.

Nationwide Exchange Rates

Nationwide is able to offer the conversion of sterling to a number of currencies before a payment is made, for a full list of currencies check the foreign-exchange-rates page in branch or on Nationwide.co.uk.
The actual exchange rate that will apply will be printed on the Transfer Request Form. By signing the form you authorise this payment plus any applicable transaction charge and accept the exchange rate.

Timescales
If we receive your payment instruction on a working day and your payment is in an EEA currency and to an EEA country, your payment will normally arrive at the recipient’s bank within 1 working day subject to our standard checks.

If you ask us to make a payment to a country within the EEA that isn’t in an EEA currency, your payment will normally arrive within 4 working days subject to our standard checks. Payments outside the EEA will take longer – please ask us for details. Payments to India can take up to 3 months and occasionally longer to reach the recipient’s bank.

Bank Identifier Code (BIC)
To ensure we send your SWIFT payment to the correct bank, we need a BIC. Failure to supply a correct BIC will result in your payment being rejected. Please check the BIC Information page in branch or on Nationwide.co.uk for more information.

International Bank Account Number (IBAN) or national bank code
This number is used to identify the recipient’s bank account.  Please check carefully that the number you enter is correct. If it isn’t, your payment may go to the wrong account and we may not be able to get your money back.

Purpose of payment

You need to explain what this payment is for. Your payment may be rejected if you don’t provide this information


Daytime telephone number
We may need to contact you if there is a problem with your payment. If you do not provide us with your contact details and we are unable to contact you, your payment may be delayed.  Please also check your online secure messages regularly because we may send you a message requesting further information.


Account balance
Important - please make sure you have enough money or an agreed overdraft facility to cover this payment as we will carry out a further check before we send it.  If you don’t, we won’t be able to send the payment.


** SEPA Credit Transfers can only be made in Euros and from Current Accounts. The £9 charge is not applicable for FlexOne or FlexStudent accounts.

Article ID: 1497

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