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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 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.
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