How to Receive International Payments with a UK Business Account

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.

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:

• Your IBAN in UK format: GB followed by 22 characters (e.g. GB29 NWBK 6016 1331 9268 19)
• Your BIC/SWIFT code — the identifier of your bank or payment provider
• Ask your customer to send in EUR as a SEPA Credit Transfer

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

• Your customer is based in the USA, Canada, UAE, Singapore, Switzerland, or any country outside the EU/EEA SEPA zone
• The payment is in USD, CAD, CHF, AED, SGD, or another non-EUR currency
• You are receiving a large amount and the payer’s bank uses SWIFT as standard for significant international transactions

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.

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.

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

• Avoid converting at a bad rate. Currency markets move daily. Converting USD to GBP the moment it arrives may lock in a rate that moves 1–2% against you within days.
• Pay expenses in the same currency. If you receive EUR and also pay EUR-denominated invoices to European suppliers, you can settle those directly from your EUR balance — no round-trip conversion cost.
• Convert when the rate is favourable. With funds sitting in a foreign currency balance, you can monitor the rate and convert when it moves in your favour.

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

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.

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.

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 →