What payment methods are used for GBP transfers?
GBP payments are sent locally via Faster Payments Service (FPS). Whereas SWIFT will be used when sending GBP to any other countries.
What types of beneficiaries can I transfer GBP to?
You can send GBP payments to individual and business accounts.
Is there a limit on the amount I can send?
- FPS - GBP 1M
- SWIFT - No limit
To which countries I can transfer to?
- FPS: United Kingdom, Gibraltar, Guernsey, Isle of Man, Jersey
- SWIFT: Any countries except the restricted countries here.
How long does it take for the funds to reach the beneficiary?
FPS transfers are processed within one business day, while SWIFT transfers may take up to 3-5 business days to process.
What will be reflected as the sender's name?
For GBP transfers sent through FPS or SWIFT, the ultimate sender's (i.e., Aspire client) name will be reflected as the sender's name.
What is the accepted number of characters for the IBAN?
We accept IBAN with 15-34 alphanumeric characters (space permitted).
When sending GBP to the United Kingdom, Guernsey, Isle of Man, Jersey, and all non-IBAN countries, you may use the Account Number instead of IBAN. However, IBAN must be used when sending to all other IBAN countries.
What is the accepted number of characters for the BIC SWIFT?
We accept BIC SWIFT codes with 8 or 11 alphanumeric characters.
When sending GBP to the United Kingdom, Guernsey, Isle of Man, and Jersey, you may use the Sort Code instead of the BIC SWIFT. However, BIC SWIFT must be used when sending to any other country.
What is the accepted number of digits for Sort Code?
We accept Sort code with up to 6 digits.
What is the accepted number of characters for the Payment Reference?
- FPS: We only support 18 alphanumeric characters. The reference field will be truncated to fit this limit.
- SWIFT: Anything over 132 characters will be truncated.
Important notes for GBP transfers
For FPS transfers
Non-ASCII characters will be converted to their ASCII equivalents or removed, to the best of our ability, in order to comply with the limitations of the domestic payment system.
- Beneficiary Postcode (1-12 characters) and Beneficiary State or Province (1 - 255 characters) will be required when you are sending payments to Canada, Mexico and the USA.
- Payer Postcode (1-12 characters) and Payer State or Province (1 - 255 characters) will be required when you are sending payments to Canada, Mexico and the USA
- CLABE (18 digits) must be used instead of Account Number or IBAN when sending payments to Mexico.
- The payer's first name and last name on the MT103, are joined together and truncated to 35 characters.
- Payment Reason stated in the MT103 is appended after the payment reference, if there is space remaining.
Any characters not supported will be converted to EBCDIC equivalent or removed to comply with SWIFT payment network restrictions. The SWIFT network permits the use of letters, numbers, spaces, and the following symbols: / – ? : ( ) . , ‘ +.
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