Transferring Funds Abroad

How to send your Funds - Currency Transfers

CHAPS/SWIFT

Spot Deals:

International Money Transfers: Payment for spot deals must be received at Sat WorldWide on the business day following the deal date. Your contract note will specify this settlement date. If you are sending sterling from a UK bank account, a CHAPS payment instructed before noon on the settlement date will ensure that your funds reach the Sat WorldWide client account on time. If you are sending currency from outside the UK, you will need to authorize a SWIFT payment. This is an international payment method for sending currencies to the UK from abroad. The delivery time for Euros, US dollars and Canadian dollars should be the same day if instructed before noon (UK time). For other currencies, this can take two days or more.

Forward Contracts:

International Money Transfers: Your deposit must be received at Sat WorldWide on the business day following the deal date. The balance must reach Sat WorldWide at least one business day prior to the settlement date specified on your contract note. Please use CHAPS to ensure payment reaches us on time (see above).

BACS

This is an alternative method for transferring sterling in the UK. This method is generally free, but takes up to four business days for your funds to clear. Please only use BACS if you are lodging funds in the Client Account prior to booking a currency deal.With prior agreement will except on small transactions.

INTERNET TRANSFER

Most Banks will only allow 10,000 pounds at a time. Also the delivery time with Internet transfers may differ from bank to bank. Small transactions will be ok. Large transactions must have prior agreement.

CHEQUES

You can pay by cheque if you are lodging your funds in our client account prior to booking a currency deal. Please allow 5 business days from receipt for your cheque to clear.

* Payments from Savings Accounts

Please note however that International Money Transfers from most savings accounts take 3 business days, and in some cases can only be made to your own current account. In order to avoid late payment, please ensure that your funds are accessible before booking your currency. Please note, once a currency deal has been agreed, it is important that your funds are received on time. You may incur extra costs as a result of late settlement.