Sending business payments from the US to the UK
A US company pays a UK supplier, contractor or subsidiary most simply in British pounds to its sort code and account number, through a provider that pays out over Faster Payments, or by SWIFT wire to its IBAN. You need the legal name exactly as on the account, because UK name checks and bank screening both rely on it.
- There are no exchange controls restricting the transfer of funds into or out of the UK, according to the International Trade Administration.
- Faster Payments is the UK's 24/7 real-time payment system, and Pay.UK raised its system limit per payment to £1 million, with each bank setting its own limit.
- Confirmation of Payee checks the payee's name against the account details for domestic UK payments, including Faster Payments, CHAPS and Bacs.
- HSBC UK charges nothing to receive an international payment under £100 and £6 at £100 or more; Lloyds Bank deducts a £2 or £7 handling charge unless the sender pays it.
- A UK IBAN has 22 characters: GB, two check digits, a 4-letter bank code, the 6-digit sort code and the 8-digit account number.
Details to collect from a UK recipient
A UK account is identified by a 6-digit sort code, which identifies the bank and branch, and an 8-digit account number. For an international wire, the same account is expressed as an IBAN. Swift's IBAN Registry lists the UK IBAN at 22 characters, with a 4-letter bank code followed by the 6-digit sort code; its example is GB29NWBK60161331926819.
| Detail | Format | Used for |
|---|---|---|
| Beneficiary name | Legal name exactly as on the account | Name checks and screening |
| Sort code | 6 digits | Faster Payments payout in GBP |
| Account number | 8 digits | Faster Payments payout in GBP |
| IBAN | 22 characters starting GB | SWIFT wires |
| Bank SWIFT/BIC | 8 or 11 characters | SWIFT wires |
| Reference | Invoice number | Matching the payment |
Sources: Swift IBAN Registry, Release 103; Pay.UK. As published on 29 October 2026.
Confirm the BIC with our SWIFT code lookup before a first SWIFT payment.
Pay in pounds or in US dollars?
The International Trade Administration states that there are no exchange controls restricting the transfer of funds into or out of the UK. A UK supplier may hold a US dollar account alongside its sterling account, so ask which account matches the invoice currency.
If the supplier invoices in pounds, convert before sending and pay its sterling account; the supplier receives pounds with no conversion at its bank. If you send US dollars to a sterling account, the UK bank converts them at its own rate, and the receiving charge applies. Paying pounds also lets the payment arrive as a domestic credit rather than an international one.
| Invoice | How to pay | What the supplier receives |
|---|---|---|
| GBP | Pounds to sort code and account number | Pounds, as a domestic credit |
| GBP | Pounds by SWIFT to the IBAN | The amount less any receiving or intermediary charges |
| USD | Dollars by SWIFT to a USD account | Dollars, less charges |
| USD to a GBP account | Dollars by SWIFT | Pounds converted by the UK bank |
Source: International Trade Administration, United Kingdom. As published on 29 October 2026.
For sterling values, see the USD to GBP currency page.
Rails and arrival times
Faster Payments is the UK's 24/7 real-time payments service. Pay.UK raised the system limit per payment from £250,000 to £1 million, and states that all directly and indirectly connected banks can receive payments up to that amount 24 hours a day, seven days a week; each bank sets its own customer limit. A provider that converts your dollars to pounds and pays out in the UK uses this route.
A SWIFT wire is the alternative for dollars, or for pounds sent to the IBAN. Swift reports that almost 100% of gpi payments are credited within 24 hours.
| Route | Currency | Published timing or limit |
|---|---|---|
| Faster Payments payout | GBP | 24/7 real time; system limit £1 million per payment, bank limits vary |
| SWIFT wire to the IBAN | GBP or USD | Almost 100% of gpi payments within 24 hours |
Sources: Pay.UK; Swift gpi. As published on 29 October 2026.
Name checks and documents
Pay.UK describes Confirmation of Payee as an account name checking service that compares the payee's name with the account details before a payment goes through. It is an overlay for domestic UK payments, including Faster Payments, CHAPS and Bacs. It does not apply to a SWIFT wire from the United States, which is why a UK supplier's bank details must still be confirmed by phone on your side.
The UK has no purpose codes for incoming payments. Quote the invoice number in the reference so the supplier can match it, and pay from the company named as buyer.
On the US side, every payment to a UK company must pass sanctions screening: OFAC states that all US persons, including all US incorporated entities and their foreign branches, must comply with US sanctions, so the payer, the recipient and the recipient's bank are checked before the money moves.
Costs: Helm fees, intermediary deductions, SHA and OUR
UK banks charge to receive international payments; our guide to intermediary bank fees covers the deductions in between. HSBC UK's business price list shows no fee under £100 and £6 at £100 or more, with sender or intermediary charges deducted before credit. Lloyds Bank deducts a handling charge of £2 up to £100 and £7 over £100 unless the sender pays it. A pound payout over Faster Payments avoids both. Every SWIFT wire carries a charge code. OUR means the sender pays all charges, so the full amount should arrive. SHA means charges are shared: the sender pays its own provider, and intermediary banks may deduct their fees in transit. BEN means every charge comes out of the amount sent. Helm does not open accounts for businesses registered in the UK or the EEA; this page is for US companies paying them. Helm international payments show the rate, the fee and the expected arrival before you confirm, and the account manager confirms the route for each corridor.
Helm agrees pricing with each business in writing before the account opens, and shows the rate, the fee and the expected arrival before you confirm each payment. See how Helm pricing works.
Why payments to the UK are delayed or returned
| Cause | Prevention |
|---|---|
| Trading name instead of the account name | Use the legal name on the account |
| Sort code and account number swapped or mistyped | Copy them from a bank letter or invoice |
| Payment above the supplier bank's Faster Payments limit | Ask the supplier, or send by SWIFT |
| US dollars sent to a sterling account | Pay pounds, or ask for a USD account |
| SHA deductions and receiving charges | Pay pounds locally, or send OUR |
Sources: Pay.UK; HSBC UK; Lloyds Bank. As published on 29 October 2026.
Checklist before you send
- Collect the legal name, sort code, account number, IBAN and SWIFT code.
- Agree GBP or USD on the purchase order.
- Pay pounds to the sort code and account number where your provider pays out over Faster Payments.
- Confirm the supplier's bank details by phone; Confirmation of Payee does not cover a wire from abroad.
- Quote the invoice number in the reference.
Open a Helm account
USD, EUR and GBP accounts in your company's name, with a named account manager.
Open accountQuestions
What bank details do I need to pay a UK company from the US?
For a payout in pounds, the sort code, account number and legal name. For a SWIFT wire, the IBAN and the bank's SWIFT code, with the same legal name.
Can I pay a UK supplier in US dollars?
Yes, if it has a US dollar account. Dollars sent to a sterling account are converted by the UK bank at its rate, and receiving charges apply.
How fast are Faster Payments?
Faster Payments is the UK's 24/7 real-time payments service. The system limit is £1 million per payment, and each bank sets its own limit.
What does a UK bank charge to receive an international payment?
HSBC UK charges nothing under £100 and £6 at £100 or more; Lloyds Bank deducts £2 up to £100 and £7 over £100 unless the sender pays.
Does Confirmation of Payee apply to payments from the US?
No. Pay.UK describes it as an overlay service for domestic UK payments such as Faster Payments, CHAPS and Bacs.
References
- International Trade Administration: United Kingdom Country Commercial Guide, Trade Financing
- Pay.UK: £1 million Faster Payments now possible
- Pay.UK: Confirmation of Payee FAQs
- HSBC UK: Business Price List (11 February 2025)
- Lloyds Bank: International Services Tariff
- Swift: IBAN Registry, Release 103 (September 2026)
- Swift: Fast, transparent and trackable payments (gpi)
- U.S. Department of the Treasury, OFAC: Who must comply with OFAC sanctions? (FAQ 11)
This guide is general information for businesses, not financial, legal or tax advice. Rules, fees and timings were checked against the sources listed on the review date and may change.