ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel
  • »
  • Business and Employment»
  • Business & Corporate Finance

Useful Links for foreign payments

Updated on October 26, 2016

Reader Poll

Who do you use to make your International Payments

See results

SWIFT, ABA & IBAN codes for foreign payments

International Payments are conducted by the banks using SWIFT, a secure interbank telex system. Payments are sent by the initiating bank to its correspondent bank in the country of destination. The correspondent bank will then transmit funds either directly or through further correspondents to the beneficiary bank. The initiating bank will typically send two messages. An MT202 will be sent to the correspondent bank advising that their account with the initiating bank has been credited and where the funds are to be paid. An MT100 will be sent to the beneficiary bank advising them to expect payment via the correspondent.

In the electronic age customers are required increasingly to provide Swift Codes, ABN Routing numbers (USA),IBAN numbers (Europe) and BSB numbers (Australia), when preparing their Telegraphic Transfer Payments. I have provided some useful links to help source these codes.


Bank For International Settlements

ABA Routing numbers

IBAN numbers

BSB Numbers

The emergence of non-bank institutions has blurred the payments landscape. Many of the Foreign Exchange providers will either transmit funds or pass accounting entries to their own local head office in the beneficiary country. The local office will effect a local payment to the ultimate beneficiary.

Please feel free to make additions in the comments fields.


    0 of 8192 characters used
    Post Comment

    • goosegreen profile image

      goosegreen 5 years ago

      jpcmc the value of the transaction is vital. Paypal is good for smaller payments but the exchange rates would kill you if you were using it for larger payments or to facilitate international trade.

    • jpcmc profile image

      JP Carlos 5 years ago from Quezon CIty, Phlippines

      IO used to fumble with the SWIFT codes of my banks. But now i'd rather use Paypal. theexchange rates are a bit lower but At least i can easily monitor my money. Also, many internatinoal merchants use this payment mode.

    • AfricaResource profile image

      AfricaResource 6 years ago from Dorking, Surrey, United Kingdom

      The only major problem is that until the transaction is complete in many cases you are not aware of how much intermediary banks will change. It is usually either an overall percentage of the total amount or a fixed fee per transaction.

    • RJ68 profile image

      RJ68 6 years ago from Memphis

      Also note too there are some banks that carry transactions through intermediary banks as well. Not all banks are set up to recieve domestic funds so an intermediate bank has a pass through account of the beneficiary in local currency to be further credited to the receiving bank.


    This website uses cookies

    As a user in the EEA, your approval is needed on a few things. To provide a better website experience, uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

    For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: ""

    Show Details
    HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
    LoginThis is necessary to sign in to the HubPages Service.
    Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
    AkismetThis is used to detect comment spam. (Privacy Policy)
    HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
    HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
    Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
    CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
    Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the or domains, for performance and efficiency reasons. (Privacy Policy)
    Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
    Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
    Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
    Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
    Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
    VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
    PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
    Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
    MavenThis supports the Maven widget and search functionality. (Privacy Policy)
    Google AdSenseThis is an ad network. (Privacy Policy)
    Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
    Index ExchangeThis is an ad network. (Privacy Policy)
    SovrnThis is an ad network. (Privacy Policy)
    Facebook AdsThis is an ad network. (Privacy Policy)
    Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
    AppNexusThis is an ad network. (Privacy Policy)
    OpenxThis is an ad network. (Privacy Policy)
    Rubicon ProjectThis is an ad network. (Privacy Policy)
    TripleLiftThis is an ad network. (Privacy Policy)
    Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
    Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
    Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
    Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
    ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
    Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)