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GBP – British Pound Sterling

Overview

The payment processing of this currency is considered to be highly standardised.

Currency Guidelines

A clear reason / purpose of payment is recommended and consists of a full written description (in English) of the nature of payment to be provided in the remittance information. For example: providing an invoice number without guiding text is considered as insufficient and can result in errors or delays.

Example: Payment of travel expenses – invoice n° 123456789

Payments in GBP toward the UK

Besides the standard information, it is important to note that the IBAN format is recommended (see Appendix VI).

In case that the domestic account number is provided, then the sort code is mandatory.

The sort code is a six digit code which allows for the identification of a financial institution. This information should be requested from the beneficiary.

Example of a sort code: 209448

Payments in GBP outside the UK

Standard information
The IBAN format is recommended (see Appendix VI).

Instructions, technical guidelines & more

To consult the Technical Guidelines of this currency, click here

TECHNICAL GUIDELINES

To consult the Appendix(es) click here

Appendix VI: IBAN Application Rules
Additional information

• Available charge options: OUR/SHA/BEN
In principle, for payments subject to the Payment Services Directive (PSD) and without currency conversion, only shared charges are allowed.

• Central bank of the United Kingdom : http://www.bankofengland.co.uk