Overview

Payment type	SWIFT (Priority)	Local (Regular)
Cut off time (UK Time)	9:00 am	n/a
Delivery time frame	1 day	n/a
Maximum payment size	No limit	n/a
Payment Scheme	SWIFT	n/a
Destination countries	Any (excluding sanctioned)	n/a
Traces	Yes	n/a
Recalls	Yes	n/a
Ultimate payer displayed?	Yes	n/a

 

Required Details

SWIFT (Priority) Payments

Field	Company	Permitted Data	Notes
Beneficiary Entity Type	✓	‘company’ only	Please note:CNY payments to individuals in China are not permitted.Due to restrictions imposed by our partner bank, the beneficiaries of CNY payments in mainland China must be companies incorporated in mainland China. CNY payments to all other countries can be made to beneficiaries who are either individuals or companies.
Beneficiary First Name	✕	1-255 characters*
Beneficiary Last Name	✕	1-255 characters*
Beneficiary Company Name	✓	1-255 characters*
Beneficiary Address	✓	1-255 characters*
Beneficiary City	✓	1-255 characters*
Beneficiary Postcode	✓	1-12 characters*	Only required when sending payments to Canada, Mexico and the USA.
Beneficiary State or Province	✓	1-255 characters*	Only required when sending payments to Canada, Mexico and the USA.
Beneficiary Country	✓	2 letter ISO country code
IBAN	✓	15-34 alphanumeric characters; spaces permitted	IBAN must be used when sending payments to all IBAN countries. When sending to non-IBAN countries, account number must be used.
Account Number	✓	Varies per destination country	When sending payments to non-IBAN countries, account number must be used. IBAN must be used when sending to all IBAN countries.
CLABE	✓	18 digits	CLABE must be used instead of account number or IBAN when sending payments in any currency to Mexico. CLABE is the banking standard for the numbering of bank accounts in Mexico (equivalent to the Account Number in other jurisdictions).
BIC SWIFT	✓	Valid ISO 9362 SWIFT BIC code; 8 or 11 alphanumeric characters	BIC SWIFT must be used when sending payments to any country except the USA. When sending to the USA, ABA must be used.
CNAPS	✓	12 digits	The CNAPS code is the domestic bank routing number used in China (equivalent to a UK sort code or US ABA number). CNAPS is only required when sending CNY payments to China. CNY payments to any other jurisdiction do not require the CNAPS code.
ABA	✓	9 digits	American banks are identified by a 9 digit ABA number, also known as ‘Routing Number’. The ABA should be valid for FedWIRE payments. Some ABA values are only valid for FedACH payments. Payments to FedACH-only ABAs will fail. The ABA is required for all payments to the USA.
Payment Currency	✓	3 letter ISO currency code
Payment Amount	✓	Numeric amount
Payment Reference	✓	1-255 alphanumeric characters	Four lines, each 35 characters long.Anything over 140 characters will be truncated.
Payment Reason	✓	1-255 alphanumeric characters	Free text for a payment reason of your choice.
Payment Purpose Code	✓	See our list of available payment purpose codes here.	A payment purpose code is only required for CNY payments into China, it is not required for any other destination country.
Payer Entity Type	✓	‘company’ only	Only ‘company’ is supported at the current time.
Payer First Name	✕	1-255 characters*
Payer Last Name	✕	1-255 characters*
Payer Company Name	✓	1-255 characters*
Payer Address	✓	1-255 characters*
Payer City	✓	1-255 characters*
Payer Postcode	✓	1-12 characters*	Only required when sending payments to Canada, Mexico and the USA.
Payer State or Province	✓	1-255 characters*	Only required when sending payments to Canada, Mexico and the USA.
Payer Country	✓	2 letter ISO country code
Payer Date of Birth	✕	ISO 8601 format (YYYY-MM-DD).
Payer Identification Type	✓	‘incorporation_number’ only
Payer Identification Value	✓	1-255 characters*

* Please note that non-supported characters will be transformed to EBCDIC equivalent or removed on a best endeavors basis in order to comply with the restrictions of the SWIFT payment network. The permitted characters on the SWIFT network are letters, numbers, spaces and the following symbols:
/ – ? : ( ) . , ‘ +

Clients can make CNY payments by converting funds firstly to CNH and then to CNY.