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EU structured payment

Q. What is an EU structured payment?
A. An EU structured payment is a way of transferring Euros to countries within the European Union using the SWIFT system. You can transfer money via structured payment for Euros if both parties are within the EU. These countries are:

Austria France* Luxembourg Slovenia
Belgium Germany Malta Spain
Bulgaria Gibraltar Netherlands Sweden
Cyprus Greece Poland  
Czech Republic Hungary Portugal  
Denmark Italy Republic of Ireland (Eire)  
Estonia Latvia Romania  
Finland Lithuania Slovakia  

Fund transfers within the EU will always be sent in Euros, apart from Sweden, where either Euros or Swedish Kroner can be sent, so please state the currency if you're sending to Sweden.
*The following countries use the same IBAN format as France, so structured payment can be used to send money to these too: French Guiana, French Polynesia, French Southern Territories, Guadeloupe, Martinique, Mayotte, New Caledonia, Réunion, Saint Pierre et Miquelon, Wallis and Futuna Islands. Payments to the USA will always be sent in USD.

Please note if you require us to send a non standard payment i.e. Sterling to Europe or where the beneficiary account details you have given us are found to be incorrect, we will charge you the fee levied by the overseas bank to repair the transaction, which may be an amount of up to £25.

Q. How much do structured payments cost?
A. The charges are to be shared. You will pay our charge of £8 and the recipient will pay the overseas bank charges. If the BIC and IBAN provided are correct, then there shouldn’t be any additional charge to the beneficiary.
If the BIC and/or IBAN provided are incorrect, then the foreign banks are allowed to charge a repair fee.

Q. How much can I send by a structured payment within the EU?
A. The amount that you send has to be under 50,000 Euros. If you want to transfer more you could send money via SWIFT or EuroCHAPS.

Q. How long does it take for a structured payment within the EU to be received?
A. It will take 1 - 2 working days for the payment to be received.

Q. What do I need for a structured payment within the EU?
A. You will need the following:

  • beneficiary bank name (and address if you have it)
  • beneficiary bank BIC
  • beneficiary account IBAN
  • beneficiary account name
  • beneficiary address (if you have it).

You will also need to agree to the declaration below along with the other transfer information.

Declaration

We may need to disclose limited information to third parties where reasonably necessary. This is for the purposes of the prevention and detection of crime, prosecution of offenders, for the purposes of national security or where required by law. This may mean that the information could be transferred to countries that do not provide the same level of data protection as the UK.