Standard Bank International Payments

Standard Bank International Payments

Whether you’re receiving or making an international money transfer, we’ve got the solution to meet your needs.


WHAT YOU’LL NEED

Making international payments:

  • To pay a person, you need their name, surname and full physical address
  • To pay a company, you need the company name and their full physical address
  • You also need the account number or IBAN and a valid bank SWIFT code
  • Depending on the country, you may also need to know their SORT or routing code
  • Provide a reason for your payment (BOP code) based on the exchange control requirements.

Receiving international payments:

You need to provide the following account details to receive an international money transfer:

  • Account number/IBAN number: Provide your Standard Bank account number
  • Branch/SORT code: If this information is requested, please advise the sender of the universal Standard Bank Code (051001) to ensure that the branch code is not provided in the same field as your account number
  • Account type: It is recommended that you use a cheque / savings account to receive international payments
  • Standard Bank’s SWIFT address: SBZAZAJJ
  • Sender and receiver pay their own fees
  • Sender pays sending and receiving bank fees
  • Recipient pays sending and receiving bank fees

PAYMENT PROCESS

Making international payments:

  • You will need the beneficiary’s name, address and bank details followed by the reason for your payment (BOP code)
  • You will be required to provide the supporting documentation as per exchange control requirements e.g. invoice, bill of lading, etc
  • You can use your pre-booked rate, or your payment can be processed at the current exchange rate
  • The payment will be processed within 2 business days

Receiving international payments:

  • Track your incoming payments: If you’re expecting a payment, you can monitor the status of your incoming funds by providing us with your Standard Bank account number
  • Once-off incoming payment: Once Standard Bank has received the funds from the sending bank, you may be contacted for disposal instruction or you may have the funds credited to your account
  • Recurring payments: If you receive funds on a regular basis from the same person for the same reason, you can set up a Standing Settlement Instruction which will enable us to automatically process your payment without contacting you for further details
  • Foreign currency payments: If funds are received in foreign currency it will be converted into local currency at the exchange rate at the time of providing the reason for payment, or you may instruct us to use a pre-booked deal