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Guidelines for receiving payments to your UK bank account

The dos and don'ts of your UK bank accounts.

Written by Mojisola Aimasiko
Updated over a year ago

​​Congratulations on setting up your brand-new UK bank account! Please note the following:

• Your UK bank account is addressable in Faster Payments (FPS), Bacs, and CHAPS.

• Your UK bank account can only receive payments from the United Kingdom and countries within the EEA region.

• Receiving payments to your UK bank account incurs a 0.8% fee for FPS, a flat fee of 15 GBP for Bacs, and a fee of 25 GBP for CHAPS.

• Receiving payments into your UK bank account can take up to the Transaction date + 2 business days, depending on the payment scheme used by the sending bank.

• Payments from countries outside the EEA region are NOT supported.

• You CANNOT receive international SWIFT or Wire transfers to your UK bank account.

• You CANNOT receive payments in other currencies to your UK bank account.

  • Sending other currencies(e.g., USD) to your UK bank account is not supported and is at your own risk.

  • We do not support receiving payments for CRYPTOCURRENCY, P2P, BETTING, and FOREX TRADING purposes.

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