Extended payment windows so you can move money faster
World Account has improved the process for same-currency and cross-currency payments. This means you can now make same-day payments across more currencies with later cut-off times.
What currencies does this apply to?
Available across 12 of our most popular currencies including GBP, EUR, USD, AUD^, CAD, JPY^, NZD^, SGD^, CHF, HKD, CZK, PLN.
Examples of same-day currency pairs include, but are not limited to GBP-USD, GBP-EUR, EUR-USD. Every country and currency are different so cut off times do apply.
How could faster payments benefit you?
HKD-USD – opening payment channels and extending reach
We’re delighted to announce the launch of our new same-day service for HKD & USD payments and collection service to help expand your business into Hong Kong.
Hong Kong is a rapidly growing market and one of the 10 strongest economies in the world. Our new improved service allows you to make payments to Hong Kong based accounts 1 day faster than before, but at the same great rates you enjoy now.
So, what’s new?
If you have a USD or HKD currency account you can now:
✔ Send same-day payments to any Hong Kong based currency account to release your shipments sooner
✔ Make same-day same currency payments to beneficiaries with a HKD bank account
What are payment cut-off times?
Cut-off times refer to the time by which a transaction needs be initiated for it to be executed on the same-day*. The payment window has been extended increasing same-day availability times from 1-3 hours to up to one working day for the majority of payments.
^Cut-off times are influenced by various factors including time zone of the recipient bank, method of payment and currencies involved amongst other factors. For example, when making a GBPAUD payment by the time you make your payment in the UK, Australian banks are already closed. So please remember to factor in cut-off times when you are making your transfer.
Cut-off times are in quoted local London time and correct as of 1 June 2020. Should you have any questions please contact your account manager.
* View cut-off times to see if your desired currency is eligible for same-day payments
Cross-currency payments cut-off times
The following table summarises payment cut-off times when making same cross-currency payments through World Account or WorldFirst Account. The full list of currency pairs can be found in our payment cut-off times pdf.
|CCY Pair||NEW Cut-Off Time|