Electronic payments
Receiving payments
When your business needs to receive currency and sterling funds from abroad and within the UK, our electronic payments solution is a fast and secure option.
Key benefits
- Fast, secure service - electronic payment instructions are sent from the sender's bank to us and the funds are then credited to your account
- Accelerated cash flow - funds are received from abroad as quickly as possible
- Time and cost savings - your business will eliminate the paperwork involved in handling paper-based payments
- Planning ahead - by giving your customers details of your Royal Bank of Scotland account they can arrange for your account to be credited directly
- Cost-effective - payments up to and including £100 or currency equivalent are charged at £1. Payments of over £100 or currency equivalent are charged at £7 each. Our fees are debited from the principal amount before we credit your account. We will send you a credit advice showing a breakdown of our charges.
- Funds credited quickly - funds will be credited to your account as soon as possible. This will be either on the value date or, if this is not possible, on the next best possible value date
- Automatic currency conversion - most payments will be automatically converted to the currency of your account. If you do not wish us to convert the payment, please contact us prior to the payment being sent.
What you need to receive funds
- Our SWIFT address: RBOSGB2L
- Your account name and International Bank Account Number (IBAN). This is included on your account statement.