The fastest and most secure way of transferring funds into your account is through an electronic transfer. In order to receive a payment, you will need to provide your customer with the following information:
- Our name in full - The Co-operative Bank plc
- Our S.W.I.F.T. address - CPBKGB22
- Your account name, IBAN or account number
We will confirm receipt of any payments made through our cross -border payments system, showing the amount received and any deductions made from the original amount requested.
Although we do not recommend that you receive paper-based payments from abroad, we can arrange to clear these on your behalf. Should you receive a cheque in a foreign currency, please contact your Relationship Manager or nearest Corporate Banking Centre.
Please make sure the cheque is made payable to you and that you sign the reverse of the cheque per your bank account mandate
This is where we will credit your account on receipt of the cheque by our Overseas Financial Services team, before we actually receive the funds from the issuing bank. We will endeavour to credit your account within five working days and can only send a cheque for negotiation if it fulfils the criteria.
Fees will be payable depending on the value of the cheque and you can view these in our International Banking Tariff below. If your cheque is returned unpaid, your account will be debited on the date of its return in addition to any other charges. The cheque will be returned to you with reasons and charges for non-payment.
Cheques which cannot be negotiated will be sent for collection. Payment is credited to your nominated account after we have received the funds or are sure the cheque will be paid. How long this takes will depend on the country the payment is coming from and the foreign bank, however normal timescales are six to eight weeks.
Cheques sent for collection will also incur fees which can be found in the International banking Tariff below. Please note, the issuing bank may also charge for cashing the cheque and remitting the funds.
Please note that we reserve the right to decide whether a cheque can be sent for negotiation or collection, and we can only negotiate a cheque if your account is being operated fully within the terms and conditions.