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 European Economic Area (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 money will be sent by SWIFT.
Payments sent outside of the EEA and USA require the use of an agent/correspondent bank to forward the money 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.