SWIFT TRANSFER
 

I know this is about immigration, but i thought i would ask anyways,

my bank is being crap and im getting very confused and annoyed so can anyone help me out with what information you get for a swift transfer.

Re: SWIFT TRANSFER
 

Swift transfer? What are you on about?

Re: SWIFT TRANSFER
 

If you mean a transfer to a foreign bank account then you need:
Bank name and address
Persons account number and sort code
IBAN number
SWIFT code.
I didnt need all this to transfer to Canada but I did to transfer from UK to Bulgaria
Tina

Re: SWIFT TRANSFER
 

They don't use SWIFT codes in Canada - you need to supply the banks IBAN number. Phone up the bank you're sending money to and they will give you the info you need. Then walk into your bank - very easy.

Have you considered using an FX broker instead - you;re likely to save money

Re: SWIFT TRANSFER
 

when i transfered money from uk to Canada i used travelex and they were awesome, a very stress free and easy service, you will need the

name and address of bank
name of account holder
account number
swift and iban numbers

simple, takes a day or two, you will get better rates than the bank can offer.

Re: SWIFT TRANSFER
 

IBAN is not used in much Canada it's usually Europe.

You will need the usual beneficiary name, address, account number plus the CA bank name, address, and SWIFT/BIC.

The swift (or swift-bic or bic) code is the unique international identification code of a particular bank. It is either 8 or 11 digits:

4 characters = bank code (will be letters)
2 characters = country code (will be letters)
2 characters = location code (letters and digits)
3 characters = branch code (optional but will be letters and/or numbers).

8 digit swift codes relate to a primary or HO and 11 digit swift codes will have the branch code. Your Canadian bank or bank head office will provide you with this information.

Re: SWIFT TRANSFER
 

I use Custom House all the time. Direct debit mandate, all they need is the bank details in the UK, name, sort code account number, same in Canada for deposit (sort code in Canada is the transit). Deal done one day, funds in account the next.

Re: SWIFT TRANSFER
 

What info you get, or what info you need?:confused:

I have recieved swift transfers here, so the banks are familiar with them...

http://britishexpats.com/forum/showp...05&postcount=3

A SWIFT wire transfer requires;

Bank name

Bank "BIC" Code (IE CIBC head office in Toronto is "CIBCCATT")

Benificiaries local bank branch address and code

Beneficiaries name and account number


The last one I got took 5 days to arrive...."SWIFT"...not.

Re: SWIFT TRANSFER
 

cool, thank you guys. have a good weekend.

Re: SWIFT TRANSFER
 

We used Moneycorp, really easy, you transfer your money into their account with a reference number they give you then it gets transfered to your bank in Canada, we used Swift codes but its all on the documentation they send you :thumbup:

Re: SWIFT TRANSFER
 

There a quite a few currency companies out there, just give it a quick search on google... Ive used a couple, but lately... ive got a decent relationship with one...

Re: SWIFT TRANSFER
 

HI

Some advice as I have just transferred some money from HSBC in uk to HSBC canada.
The swift code is basically the bank recognition code for that bank in that country.
Basically, some banks require just a SWIFT code (also called
a BIC code) like mine, whilst some banks need a SWIFT and IBAN number - but HSBC does not require a IBAN number - just put the account number in the box for the IBAN number - and then follow instructions.

If you have more questions please let me know xx

Fran

Re: SWIFT TRANSFER
 

You are however stuck with the HSBC rate, which I have always found to be several pips below the FX houses. It is far simpler to give a direct debit mandate to an Fx house, phone and book the exchange and the money ends up in your account at any bank you choose, within a day or two.
Been doing this for years now and its a breeze.

Re: SWIFT TRANSFER
 

Yup definately simpler doing this, you will find that your account manager or broker will deal with everything, especially if you set up a standing order... Ill PM a company which i use if you want to check it out...

Re: SWIFT TRANSFER
 

I would use another company their rates are very poor since they have been taken over by western union i normally use them but not anymore,
just been getting quotes today and custom house very poor