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 extended 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, CZK, PLN, HKD^.

Examples of same-day currency pairs include, but are not limited to GBP-USD, GBP-EUR, EUR-USD, USD-HKD. Every country and currency are different so cut off times do apply.

How could faster payments benefit you?

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Competitive

We now offer more competitive payment cut-off times and value dates to our customers for international payments and transfers.

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Faster

Faster same-currency and cross-currency payments are available through our World Account as well as our WorldFirst Payments Account.

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Efficient

Send and receive payments with greater speed and efficiency enabling better cash management. This facilitates more predictable budgeting, tracking, flexible spending, and investing.

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Reduce risk

Faster payments can expediate payment initiation, clearing and settlement. This can also reduce risk as it shortens the delay between these actions.

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Grow

Extend your reach to Asia with same day USD & HKD payments to any Hong Kong based currency account to release your shipments sooner.

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Save time

Make same-day payments – up to 1 day faster than before.

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Strong relationships

WorldFirst have forged strong relationships with Tier 1 banks.

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Secure payments

Secure payments available online and via the phone. Please speak to one of our dedicated account managers for more information.

Opening the door to business in Asia

As part of our mission to make it easy to do business anywhere, we have introduced new payment capabilities into Asia.

We are very excited to announce that with World Account you can now make faster payments from West to East, and our recent product enhancements are making it easier do business across Asia than ever before.

So, what’s new?

Pay suppliers in China in CNH. CNH payments are received much faster than their USD equivalents. This is a key advantage for SMEs as it speeds up the settlement cycle, enabling you to optimise cash balances and significantly reduce back‑end processing costs.

✔ Flexibility to pay Chinese suppliers online in CNH, USD, HKD, or EUR

✔ Make same day payments to your suppliers in USD, and next day in CNH

✔ Open CNH currency accounts, to collect, convert, or make payments

Payments to Hong Kong faster and easier

✔ Make same day domestic to Hong Kong based accounts in HKD, EUR & USD currencies

✔ Make same-day, same currency, payments to beneficiaries with a HKD bank account

✔ Hong Kong-based beneficiaries can receive funds locally via CHATS or BOOK

Extending reach into Malaysia

✔ Now offering USD-MYR & SGD-MYR currency pair payments

✔ Clients can now make payments in MRY to Malaysia

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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
GBPEUR 15:30
GBPUSD 15:50
EURUSD 15:00
GBPAUD 03:00
GBPCAD 15:50
GBPCHF 12:00
GBPHKD 07:20
GBPJPY 03:00
GBPPLN 10:00
GBPZAR 12:00
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