1. Payment methods for receiving international payments

Not all international payments work the same way. The method used determines how quickly funds arrive, how much it costs, and what details your customer needs. There are three main rails your overseas customers will use to pay a UK business account.

Method Best for Speed Cost to receiver
SEPA Credit Transfer EUR from EU/EEA companies 1–2 business days Low / free
SEPA Instant (SCT Inst) Urgent EUR payments Seconds (24/7) Slightly higher
SWIFT / international wire Any currency from any country 1–5 business days Sender usually pays
FPS (Faster Payments) GBP from UK senders Seconds Free

Knowing which method applies lets you share the correct payment details from the start — reducing delays, wrong-currency conversions, and failed transfers.

2. Receiving EUR payments from EU companies (SEPA)

The Single Euro Payments Area (SEPA) covers 36 European countries and provides fast, low-cost euro transfers between participating banks. Although the UK left the EU, it remains a member of SEPA — and UK payment institutions that maintain SEPA connectivity (such as Gemba Finance, which powers ARIDANG) can still send and receive SEPA transfers.

How to receive a SEPA payment

To receive a SEPA Credit Transfer from an EU company, share the following:

IBAN discrimination — your rights

EU Regulation 260/2012 prohibits IBAN discrimination. This means EU banks and payment providers cannot refuse to process a transfer to a UK IBAN. If a European payer’s bank rejects your IBAN solely because it is a UK account, the payer can report this to their national payments authority. In practice, most EU banks handle UK IBANs without issue.

What if the EU company routes via SWIFT instead?

Some EU banks do not have direct SEPA connectivity to UK accounts and instead route the payment via SWIFT. This is less common but still works — the funds will arrive in your account, usually within 2–4 business days rather than the 1–2 days for SEPA. You may also see the amount slightly reduced if a correspondent bank deducts a fee in transit. If you regularly receive large EUR amounts, it is worth asking EU payers to confirm they are sending via SEPA rather than SWIFT.

3. Receiving USD, CAD, CHF and other currencies (SWIFT)

SWIFT is the universal international wire transfer system, connecting over 11,000 financial institutions worldwide. It handles any currency, to any country — making it the default for payments from outside the SEPA zone, or in any non-EUR currency.

When to expect a SWIFT payment

How SWIFT works for the recipient

When you receive a SWIFT payment, the sender’s bank routes the transfer through the SWIFT messaging network. Depending on the currencies and countries involved, the payment may pass through one or more correspondent (intermediary) banks before reaching your account. Each correspondent bank may deduct a fee. To avoid receiving less than the invoiced amount, you can agree with your customer that they select the OUR fee option — meaning the sender covers all charges, including intermediary fees.

SWIFT fee options explained

SHA (shared) — sender pays their bank’s fees; you pay any intermediary and receiving fees. Most common default. OUR — sender pays all fees; you receive the full amount. BEN — all fees deducted from the amount you receive. Ask customers sending large amounts to select OUR or SHA.

4. What payment details to share with overseas customers

Sharing the right details from the start is the single most effective way to avoid failed or delayed payments. The exact details depend on the currency your customer is sending.

GBP — UK domestic
Faster Payments / BACS / CHAPS
Account name Exactly as registered
Sort code 6-digit sort code
Account no. 8-digit account number
EUR — SEPA
SEPA Credit Transfer
Account name Exactly as registered
IBAN GB + 22 characters
BIC/SWIFT 8 or 11 character code
Any currency — SWIFT
International Wire Transfer
Account name Exactly as registered
IBAN GB + 22 characters
BIC/SWIFT 8 or 11 character code
Bank name Your provider’s bank name
Bank address Full registered address
Important

Always confirm your account holder name matches exactly what is printed on your invoice. A mismatch — even a shortened name or missing “Ltd” — is one of the most common causes of returned international payments. Check your account dashboard for the exact registered name before sharing details.

With an ARIDANG multi-currency account, each currency sub-account has its own IBAN. Share your EUR IBAN to European clients so funds land directly in your EUR balance without automatic conversion. Share your GBP IBAN to UK customers for Faster Payments. For customers outside the EU, share the relevant currency IBAN along with your SWIFT details.

5. Currency conversion: when to convert and when to hold

When you receive an international payment, you have a choice: convert the funds to GBP immediately, or hold them in the received currency. With a standard single-currency GBP account, that choice is made for you — your bank converts automatically, often at an unfavourable rate. With a multi-currency account, you control the timing.

Why holding foreign currency can benefit your business

ARIDANG accounts hold 16 currencies, each in a separate sub-account with its own IBAN:

GBP EUR USD CAD CHF PLN HUF CZK SEK NOK DKK HRK RON BGN AED SGD

This is particularly valuable for businesses that invoice in multiple currencies across different markets — for example, a UK consultancy billing US clients in USD, German clients in EUR, and Polish clients in PLN can receive and hold each currency separately, then convert to GBP in a single planned transaction.

6. Common problems when receiving international payments

Most issues with incoming international payments come down to a small set of preventable errors. Here is what to check if something goes wrong.

Payment returned to sender
The most common cause is an account holder name mismatch — the name your customer entered does not match your registered account name exactly. A typographical error in the IBAN can also trigger a return. Always check the exact account name in your dashboard before putting it on an invoice, and ask customers to copy the IBAN rather than type it manually.
Funds not showing after expected settlement time
Ask your customer for the payment reference number and confirmation receipt from their bank. SEPA payments typically settle in 1–2 business days from the send date (not the calendar date). SWIFT payments can take up to 5 business days. If settlement times have passed, contact your account provider with the reference number — they can trace the payment through the network.
Currency converted by sender’s bank without your agreement
Some banks apply dynamic currency conversion at the point of sending, converting your EUR invoice into GBP before the transfer — often at a poor exchange rate. This can happen when the sender’s bank does not hold the invoiced currency or applies conversion by default. Ask customers to ensure they select the payment currency as stated on your invoice (e.g. EUR) rather than GBP, and to verify this on the payment screen before confirming.
Amount received is less than invoiced
For SWIFT payments, correspondent (intermediary) banks deduct their own fees from the payment amount as it passes through the network. This is separate from fees charged by the sending bank. Ask your customer to select the OUR fee option on their next SWIFT payment — this instructs their bank to cover all fees, so you receive the full invoiced amount. Alternatively, add a note to your invoice stating that bank charges are for the payer’s account.
EU company says their bank will not accept your UK IBAN
This is IBAN discrimination, which is prohibited under EU Regulation 260/2012 for euro payments. Politely inform the payer that their bank is legally required to accept your UK IBAN for SEPA transfers. The payer can report non-compliance to their national competent authority. In most cases, raising this point with their bank’s support team resolves the issue immediately.

7. FAQ

Can I receive EUR payments into a UK business account?

Yes. A UK business account with SEPA connectivity can receive EUR payments via SEPA Credit Transfer from EU companies. Your UK IBAN (format: GB + 22 characters) is valid for SEPA transfers. EU regulations also prohibit IBAN discrimination — EU banks cannot refuse to send to a UK IBAN. If your UK account provider lacks SEPA access, EUR payments will still arrive via SWIFT, though this may be slower and carry intermediary fees.

What is my UK business account IBAN?

Your UK IBAN follows the format: GB + 2 check digits + 4-character bank identifier + 6-digit sort code + 8-digit account number, totalling 22 characters after the GB prefix (for example, GB29 NWBK 6016 1331 9268 19). You can find your full IBAN in your account dashboard or on your account statement. Always share the full IBAN when receiving international payments rather than just the sort code and account number.

How long does it take to receive an international payment?

It depends on the payment method. SEPA Credit Transfer arrives within 1–2 business days. SEPA Instant arrives in seconds, 24/7. SWIFT international wires typically take 1–5 business days, depending on the number of correspondent banks and the originating country. GBP Faster Payments from UK senders arrive in seconds. Ask your customer for the payment reference and confirmation once sent so you can track timing.

Can I hold multiple currencies in a UK business account?

Yes, with a multi-currency UK business account you can hold received funds in their original currency without immediate conversion. ARIDANG supports 16 currencies — GBP, EUR, USD, CAD, CHF, PLN, HUF, CZK, SEK, NOK, DKK, HRK, RON, BGN, AED, and SGD — each in a separate sub-account with its own IBAN. This lets you share the relevant currency IBAN to each customer and convert to GBP on your own terms.

What details do I need to give an overseas customer to pay me?

For EUR via SEPA: account holder name, IBAN, and BIC/SWIFT code. For other currencies via SWIFT: account holder name, IBAN, BIC/SWIFT code, bank name, and bank address. For GBP from UK senders: account holder name, sort code, and account number. Always ensure the account holder name on your payment details exactly matches the name on your invoice to avoid returns.

Receive International Payments in 16 Currencies

SEPA, SEPA Instant, SWIFT, and Faster Payments — all in one UK business account. Hold EUR, USD, CAD and 13 more currencies with separate IBANs. Open online in 24 hours. Non-residents and internationally-registered companies welcome.

Open Your UK Business Account →

Payment services provided by Gemba Finance Limited (FCA FRN: 804853). ARIDANG acts as an introducer.

Related guides

SWIFT vs SEPA: which should UK businesses use? →
Guide to SEPA payments for UK businesses →
Multi-currency business accounts →
FPS, BACS and CHAPS explained →