What bank details do you need to send money abroad?

Ask the recipient for these details

Ask for the recipient's current bank instructions. HSBC lists the recipient's name and address, bank information, an IBAN or account number, payment reason and reference. Your provider may require different fields.[1]

• Account holder's full name: the person's name or business name recorded by the bank.
• Recipient's address and country, plus the bank's name and address if requested.
• Account number or IBAN, copied in full, including any leading zeros.
• Bank codes requested by your provider, such as SWIFT/BIC or a local routing code.
• Currency the account should receive, the reason for paying and any reference the recipient needs to identify your payment.

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For an invoice, confirm both the payment currency and the amount the supplier expects to receive. Our guide to paying an overseas invoice explains how to handle fees and an exact amount due. Agree those amounts before submitting the payment.

What IBAN, SWIFT and routing numbers mean

An IBAN is an International Bank Account Number. It identifies an account using a country-specific format. Swift maintains the official registry of those formats. Ask for the complete IBAN supplied by the recipient's bank, rather than trying to build one from an account number yourself.[3]

A SWIFT code is also called a BIC, short for Business Identifier Code. In a bank transfer, it identifies the receiving institution. A BIC has eight characters, sometimes followed by three more that identify a branch or other part of the institution. It does not replace the recipient's account number.[4]

Local routing codes direct payments within a country's banking system. A US ABA routing number has nine digits. Banks can use different numbers for different payment methods: Bank of America's published examples distinguish a wire routing number from the number for electronic payments such as direct deposits. Ask for the number that fits the transfer you are making.[5]

The account's country changes what you need

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If a form demands an IBAN for a US or Australian account, contact the sending provider before proceeding. Ask how that form accepts the recipient bank's actual instructions. Adding a country prefix to a local account number will not create a bank-issued IBAN.[3][2][6]

Check the destination before you confirm

An IBAN checker can flag a formatting problem. A successful check does not establish that an account exists or belongs to the person you intend to pay. Wise's checker explicitly describes that limit. Confirm the details with your recipient even when a form accepts them.[7]

Pay particular attention when a supplier sends replacement bank details. The FBI describes scams in which criminals impersonate a familiar business and redirect a payment. Verify an account change by calling a contact through a number you already trust or have independently found, rather than a number supplied in the new message.[8]

Compare the name, account number and bank codes on the confirmation screen with the instructions you checked. Resolve warnings with your provider before sending. HSBC warns that incorrect details can cause a return, with deductions for charges or currency conversion.[1]

Then compare what your payment will deliver

Once you know the receiving currency and payment method, open the ForexRates transfer planner to choose your amount and destination. Use our same-budget comparison guide to compare providers' total charges and the amount expected to arrive. Enter the verified recipient details with your chosen provider, and keep its transfer reference so you can trace the payment if needed.