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Did you launch the complaint or somebody else ? :wink:
I wonder if they could use standard UK sort code instead of slower SWIFT etc. Not that I would switch to it, but it would make itself desirable for others

A consultant I know.

“I wonder if they could use standard UK sort code instead of slower SWIFT” While they may use SWIFT for payments outside Europe, I would assume they use SEPA inside Europe.

To use a standard sort code would require having an account in the UK, but it maybe as a large international firm they wish to operate their accounts from say Ireland, Netherlands or Germany. They therefore are unlikely to want to have one system for say 27 countries and one system just for UK.

I already do. And yes Stripe is great, but my ecommerce platform doesn’t allow to activate maestro through Stripe. This is a bummer because a lot of people in the countries I target use maestro instead of mastercard/visa.

Yes, Germany, Estonia all sorts of countries. I never understood why it did not take off in UK. Last time I saw a UK bank using Mæstro it was e-First and they have not been around for years!

Thanks for the info. Revolut started issuing dedicated IBANs starting with “DK”.

Most of the market share goes to the Big Four card networks. Maestro probably has less than 2%. The irony is most of these smaller card networks are owned by the big four, like Maestro is owned by MasterCard.

I am looking forward to when IBAN is introduced as currently the American company I work through insist on an IBAN so I cannot use Tide for my receipts. My current business bank have notified me they are ceasing business accounts so I only have a limited amount of time to get this sorted. Please Tide implement IBAN.

11 days later

Hi. When is expected that IBAN transfers to be available with Tide? Thank you!

Hi @Radu, we can’t provide an exact date just yet. But, we’re working hard to introduce IBAN in the coming months.

Thank you very much. Not even a rough estimate, like by the end of this year or next year?

2 months later

Revolut finally released dedicated UK IBANS. You might wanna take a look who they are partnering with :wink:

4 months later
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10 months later

Im a big fan of Tide, but Transferwise is ideal for this.

Transferwise 5 Borderless is perfect if you need multiple currencies or you need to use IBAN.
Transferwise always gives the actual mid-market exchange rate for currency conversions, the rate you find on Google for example.
You can hold your balances in over 40 currencies and receive payments in GBP, EUR, USD and AUD with no fees to receive payments. You can make currency transfers to any foreign business’ bank account such as your foreign suppliers. Easy to switch between currencies.
Low-cost international money transfer.
No need for proofs of address and all the typical run arounds that banks give you. transferwise.com 5