A European Regulation has been passed which will affect any future payments that you make in Euros to any EU member state and Iceland, Liechtenstein, Norway and Switzerland (collectively referred to as "Europe"). The regulation has been introduced to improve accuracy and speed up payments.
All instructions to make international payments in euros now need to include the beneficiary's IBAN and receiving bank SWIFTBIC (Bank Identifier Code). These will need to be quoted on all applicable international payment instructions. Your beneficiary will be able to give you their IBAN and SWIFTBIC.
Beneficiary banks can now charge repair fees, and may reject or return payments, if payments are received without an IBAN and SWIFTBIC.
If you are due to receive any payments from Europe in euros, you’ll need to ensure that your payer has details of your IBAN and your SWIFTBIC. You’ll find these on your bank statement. Alternatively, your relationship team will be able to give you this information.
Please remember that these new rules only apply to payments in euros and not to payments in pounds sterling or any other currencies.
For more information about payment regulations, please
contact us.
The services described on this page are provided by the following companies which are part of Barclays Wealth, Barclays Bank PLC in UK, Gibraltar, Cyprus, Dubai, Hong Kong, Singapore, Barclays Private Clients International Limited in Jersey, Guernsey, Isle of Man and Barclays Bank (Suisse) SA in Switzerland. For further Information on these companies and Barclays Wealth please read Important Information.
Products and services on this site may not be available in certain jurisdictions. In particular, these products and services are not being offered in Japan or the United States or to US residents. For full details of exclusions and disclaimers please see the Important information before proceeding. Each Barclays Wealth company reserves the right to make a final determination on whether or not you are eligible for any particular product or service.
Products and services on this site may not be available in certain jurisdictions. In particular, these products and services are not being offered in Japan or the United States or to US residents. For full details of exclusions and disclaimers please see the Important Information before proceeding.
*Subject to system’s availability
