Make a Telegraphic Transfer

We offer you several convenient ways to send and receive money worldwide. The method you choose really depends on how much money is involved, and how quickly you need to move it.

Choose one of the following to help you decide then scroll to the right section:

> Send a small, non-urgent foreign currency payment to someone abroad
> Send money quickly to someone who has an account with a bank abroad.
> Send a payment in Sterling to someone with an account at another UK bank (UK CHAPS transfer).
> Receive money from someone via a Telegraphic Transfer or CHAPS Transfer.
> Paying in a foreign currency cheque

When you wish to make a payment from your account whether by Telegraphic Transfer or by Currency Draft you will need to visit an Abbey branch. Please ensure you bring your Abbey Visa Debit card / Abbey Electron card or Abbey Passbook and proof of your ID such as a valid Passport or Driving Licence. You may also be asked some standard security questions regarding your account. For further details of other acceptable ID please call 08459 724 724*.

Send a small, non-urgent foreign currency payment to someone abroad

Whilst it would be safer to pay this by Telegraphic Transfer, you could send a currency draft. This operates just like a cheque, except it’s drawn in local currency on a foreign bank.

Ask for one at your branch. Two days after you have ordered it you can collect the draft from the Abbey branch where it was ordered. Then, simply send it to the person you want to pay.

The exchange rate we use will be the rate on the day we debit your account.

Send money quickly to someone who has an account with a bank abroad.

If you need to get money to someone quickly use a Telegraphic Transfer. This allows you to send money directly to someone’s bank account and can be in either Sterling or foreign currency. You will need to have the correct account information for the person you want to pay and the details of their bank.  This would include their full name, the bank code or SWIFT code of the Beneficiary’s Bank, and the beneficiary’s account number or IBAN (International Bank Account Number). Please note you must know the beneficiary’s IBAN for EURO transactions to countries in the European Union.

Telegraphic Transfers can be sent in most major currencies.

If you’re transferring to a country in the European Union - including Iceland, Liechtenstein and Norway the money should normally arrive in the account of the person you want to pay within one to two working days. If you’re transferring money to other countries these timescales might be different – please check with your local branch.

The exchange rate we use will be the rate on the day we debit your account.

Send a payment in Sterling to someone with an account at another UK bank (UK CHAPS Transfer).

You can transfer money to any other UK bank using CHAPS, provided you have the correct account information for the person you want to pay and the details of their bank. You will need to know the beneficiary’s full name, sort code and account number.

Usually the funds will reach the recipient’s account on the same day they leave your account, although we can’t give you an exact time.

Receive money from someone via a Telegraphic Transfer or CHAPS Transfer.

In order for funds to be received and credited to your account as quickly as possible you will need to tell the sender to request their bank to send the payment to Abbey by one of these methods. You will also need to provide them with your full name, sort code and account number, (or IBAN International Bank Account Number if it’s a payment from Europe).

For Telegraphic Transfers from abroad you will also need to provide the sender with Abbey’s SWIFT Address which is ABBYGB2L.

If the funds are received in a foreign currency we will automatically convert them into Sterling using the exchange rate of the day that we are notified that the funds are available to us.

Funds will be credited to your account with the earliest value date posible.

Paying in a foreign currency cheque

You can pay cheques drawn in foreign currency into your account as long as they’ve been made payable to you and are no more than 6 months old. Two different methods of clearance are available to process these cheques.

We will normally send the cheque to the bank where it originated from, requesting payment on your behalf. In this case we’ll need to wait to receive the proceeds before crediting your account. Cheques cleared this way usually take between 4 and 8 weeks to clear, depending on the country they are drawn from.

The relevant exchange rate will be applied when Abbey receives the cheque proceeds from the foreign bank.

Alternatively, and at our discretion, we can arrange to credit your account within 6 working days without needing to receive confirmation of clearance from the bank on which the cheque was drawn. We do, however, reserve the right to debit your account if the cheque is later returned unpaid. If this happens, there will be additional charges.

The amount on the cheque will be converted to Sterling at the exchange rate on the day the cheque is paid in at the branch. However the funds will remain uncleared for 6 working days and you will only be able to draw against these after the 6th working day.

In both cases you must be the named Payee of the cheque to utilise these services.

Tariff of charges

The following is a tariff of charges for overseas payments and CHAPS Transfers. Exchange rates vary from day to day, and charges on services may vary at short notice. Please ask for confirmation when you make overseas payments from, or foreign credits to, your Abbey account.