Make GBP payments faster
Make EUR payments in a tap
Hassle-free international payments
Free wamo-to-wamo payments
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Free wamo-to-wamo transfers
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Frequently asked
questions
How long does a Faster Payment transfer take?
A transfer between GB accounts through Faster Payments can take up to 2 hours, but it often arrives right away.
If you're sending money through Faster Payments, the bank or company receiving the money also needs to use Faster Payments. This way, the transfer will be much quicker.
What is SEPA and how does it work?
SEPA stands for Single Euro Payments Area (SEPA) and it means that payments can be made between any accounts within this area as easily as they can within a single country.
Before SEPA, transferring money between European countries was often slow and expensive. With SEPA, these transfers are treated as domestic transfers, reducing cost and increasing speed. It covers all 27 EU member states, as well as a few other countries.
What is the difference between a SWIFT and SEPA payment?
SEPA, or Single Euro Payments Area, is used for making euro payments between countries in the European Union, as well as a few non-EU countries that have special agreements. It was created to make payments in euros faster, cheaper, and more efficient within this area.
On the other hand, SWIFT, which stands for Society for Worldwide Interbank Financial Telecommunication, is used for international money transfers in multiple currencies, not just euros, and can be sent to most countries worldwide. SWIFT is a system for sending and receiving messages about payments, which banks use to make transactions with each other.
How do I receive SWIFT payments?
You can receive international payments (through SWIFT) in Euros or Pounds into your account. Even though the person sending the money can do it in Euros, Pounds, or US Dollars, any payment in US Dollars will be converted to Euros or Pounds before it goes into your account as we don't currently offer USD accounts.