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Exchange Rate Alert

No need to be watching the market waiting to achieve the BEST rate. With our very own rate alert simply enter which rate a particular currency pair should get to. We do the rest. When the market reaches that rate we will send you an email notifying you where the market is and then you’ll be ready to trade, saving you a lot of money, time and anxiety in the process. To access this free service simply click on the Rate Alert.

Banking Codes

In the process of dealing with international money transfers you will no doubt come across various names, acronyms and codes. In order to ensure fast delivery of funds to route through the Swift banking network it makes sense to ensure the details given are accurate. We have included the common ones.

IBAN checker

The IBAN (International Bank Account Number) is an internationally agreed means of identifying bank accounts across national borders with a reduced risk of propagating transcription errors. Depending on the country the IBAN will be of varying length between 15 and 28 characters. UK and Ireland IBANs are 22 characters long. The general structure can be seen below:

https://www.irelandfx.com/wp-content/uploads/2012/12/iban_number.jpg

Payments going to Europe will need an IBAN number, as well as a BIC code. Your own IBAN can be found on your bank statement. To check that the format of the IBAN is correct please consult with the IBAN Checker

 

BIC / Swift Code

The two terms are basically the same. They are used to identify the bank.  The Society for Worldwide Interbank Financial Telecommunication (SWIFT) handles the registration of the BIC codes (Bank Identifier Codes).

The format is either eight or eleven characters in length, depending really on whether or not the last three characters which is the optional branch code has been included. Accessing the checker can be done here.

 

Faster Payments account checker

If you are sending funds to us from your UK sterling account it is worthwhile to confirm whether or not your bank is enabled for the Faster Payments scheme. This means that instead of the old BACS style three working days for funds to arrive funds can be received instantly. We recommend checking with your bank directly or check with the Sort Code Checker to keep an expectation of arrival.