Common use of Foreign currency Payment Instructions Clause in Contracts

Foreign currency Payment Instructions. a) Subject to Condition 8.4 in Section A, we will be deemed to have received your Payment Instruction at the time that we actually receive it and have completed our required security checks. However, if we receive your request on a non-Working Day or after the stated Cut-off Time below, we will be deemed to have received it on the following Working Day. Payment type Cut-off Time (contact centre) Cut-off Time (online) When the money usually arrives at the recipient’s bank Sending money within the UK by CHAPS 1.00pm 3.00pm Same Working Day Sending money outside the UK in pounds 1.00pm 3.00pm Within the EEA – same day Outside the EEA – usually within 4 Working Days Sending money outside the UK not in pounds, euros or US dollars 1.00pm 3.00pm May take up to 4 Working Days* Sending money inside or outside the UK in euros*** 11.30am 11.30am Within the EEA – same Working Day Outside the EEA – usually within 4 Working Days Sending money within the SEPA in euros using Non-Urgent method** 1.00pm 2.30pm Next Working Day Sending money inside or outside the UK in US dollars 1.00pm 3.00pm Within the UK/US – same Working Day Outside the UK/US – usually within 4 Working Days * This will depend on the currency and destination of your payment. ** The UK, Switzerland, Monaco, the French collectives of ‘Mayotte’ and ‘Saint-Pierre-et-Miquelon’ as well as San Marino are also part of the geographical scope of SEPA. Please note that whilst most banks in the EEA are able to accept SEPA Credit Transfers, some do not. *** Please note that a cut-off time of 1pm may apply to a small number of banks. Any payments made after this time will arrive the next working day.