The best way to receive an international payment makes paying easiest for the overseas customer while giving the exporter control over currency, cost and cash flow. For repeat business-to-business trade, that usually means local receiving details in the key currencies, SWIFT for broad coverage, and no unnecessary conversion into sterling.
The rail is only half the picture. A customer paying by bank transfer after 60 days still leaves the exporter financing a two-month receivable. Payment in advance reduces credit exposure but may need a commercial concession. The strongest set-up combines a reliable collection route, sensible terms, FX control, payment visibility and a process for late receipts.
The Department for Business and Trade describes international bank transfer as the standard method for business-to-business export sales, especially larger ones.
| Method | Best for | What to manage |
|---|---|---|
| Local USD or EUR receiving details | Repeat customers in the US, Europe and other major markets | Availability by provider, currency and eligibility |
| SWIFT international transfer | Broad global business collections | Intermediary deductions and tracing time |
| Multi-currency business account | Exporters receiving several currencies | Account structure and protection differ by provider |
| Card or payment link | Small orders and remote customers | Percentage fees on large invoices |
| Letter of credit or documentary collection | High-value or newer buyers, higher-risk markets | Bank cost, documents and processing |
| Receivables or export finance | Open-account terms | Finance cost and eligibility |
Ask how the customer pays its suppliers, which currency its accounts-payable team works in, and whether it prefers ACH, SEPA, a domestic transfer or a SWIFT wire. An invoice that is easy to settle shortens the time to cash and reduces queries.
Automatically converting USD to sterling creates a second conversion if the business also has USD costs. A multi-currency set-up lets the business convert only what it needs, when it chooses.
A delayed £200,000 payment needs someone who can trace it and identify the cause. For high-value trade, the quality of escalation matters more than a small difference in fees.
Figures come from each provider's UK pricing page in October 2026. High-street banks set incoming payment charges by account tariff.
| Provider | Receiving | Conversion |
|---|---|---|
| Wise Business | Domestic receipts free in nine currencies including USD and EUR; USD wire 6.11 USD; EUR SWIFT 2.39 EUR | From 0.24%, varies by currency |
| WorldFirst | Free to receive and hold; receiving accounts in 20+ currencies | Up to 0.50% on major currencies |
| Airwallex | Local receiving details in 20+ currencies | 0.5% above interbank on majors, 1% on others |
| OFX | Receive in major currencies into the Global Business Account | Quoted per transaction |
| Revolut Business | Local GBP and EUR details; plan-based allowances | Interbank within allowance, then 0.6% |
Wise charges a one-off £50 to unlock account details in 22 currencies. Airwallex's Explore plan costs £19 a month unless the business deposits £10,000 in a month or keeps a £10,000 balance.
Local details remove friction for repeat buyers. A US customer pays a USD invoice using US bank instructions by ACH or domestic wire; a European customer pays a EUR invoice by SEPA transfer to an IBAN. The UK exporter does not need a branch in either country: providers issue local or virtual account details in selected currencies, and the funds land in an account the exporter controls.
Start with the currencies that drive revenue. A UK manufacturer earning 70% of its overseas revenue in USD should optimise its USD route first, rather than opening details in many currencies it rarely uses.
The Department for Business and Trade distinguishes these provider-issued details from a full local bank account in the market, which it suggests only for established exporters with a presence there.
SWIFT, the global bank messaging network, connects banks in almost every country and is familiar to every treasury team. It suits large invoices where a bank-to-bank payment is expected.
Several banks may handle a payment, intermediary charges can reduce the amount credited, investigations can be slow, and the beneficiary name, account number and SWIFT/BIC code must be exact. Sent does not mean available: measure when usable funds arrive and how much remains after charges. Ask customers to use the OUR charge option, where the sender pays all charges, for high-value invoices.
Holding currency avoids converting EUR to sterling and then buying EUR back to pay a European logistics provider. USD balances can fund freight, commissions, software subscriptions or overseas expenses.
A written FX policy should set the share of receipts to retain, what is converted and when, who may execute FX, and how the margin effect is measured. For large, predictable receipts, a forward contract fixes today the rate at which future currency will be sold.
Cards and payment links suit first-time customers placing small orders and remote service exporters. A percentage fee that is acceptable on £500 becomes material on £50,000.
Chargeback exposure, card limits and settlement rules mean cards are rarely the default for substantial trade. They belong in the toolkit alongside bank transfer, not instead of it.
Documentary methods are relevant where the buyer is new, the country carries more risk or the order is large. A letter of credit is the buyer's bank's undertaking to pay once the exporter presents documents that match its terms. A documentary collection routes the shipping documents through the banks so the buyer receives them only on paying or accepting a bill of exchange.
Both add bank cost and require document discipline. A £1 million first order may justify a letter of credit even though a simple transfer is faster. Choose methods with the buyer's standing, the market, bargaining power and the cost of non-payment in mind.
The United States was the UK's largest export market in the four quarters to the end of March 2026, taking £203.3 billion of UK goods and services, 21.7% of the total. For most UK exporters, the USD route is the one to get right first.
Choose between a domestic-style USD account, an international USD wire or another approved method. If the business has a USD cost base, holding dollars creates a natural hedge. If costs are mostly sterling, compare the effective FX rate, not only the transfer fee: on $2 million of annual receipts, a 0.5% difference is $10,000 a year.
The comparison of USD business accounts for international businesses covers the providers that issue US receiving details to UK companies.
A euro invoice gives the customer a clear amount in its own currency, and the exporter decides separately when to convert. Euro balances can pay European suppliers, warehousing, freight, trade fairs or contractors without converting twice.
SEPA credit transfers reach any euro account in the SEPA area, usually within a business day. Make sure the IBAN on the invoice is one the provider has issued in the exporter's own name.
Outside the US and the euro area, the route depends on the customer's local rules and banking system. Many buyers in the Gulf, Asia, Africa and Latin America pay in USD by SWIFT, so a USD receiving account with clear correspondent details is often the practical answer.
Where a buyer's country carries higher payment risk, combine a deposit with a letter of credit or UKEF export insurance rather than relying on open account.
Exporters are targeted too. A fraudster who gains access to an email account can send customers a convincing message announcing new bank details, and the customer then pays the fraudster. The exporter has delivered the goods and the money is gone.
A cheap route that needs manual investigation is expensive in staff time and delayed cash. Compare providers on real data: the top three customer currencies, typical invoice value, monthly volume, the amount sent, the amount received, when funds become usable and the conversion cost. A marketing rate on a £1,000 example tells you little.
Payment terms can matter more than payment rails. On net-60 terms, the exporter funds production, payroll, stock and logistics for up to two months. Export finance, receivables finance and credit insurance help where open-account terms are needed to win the business.
| UK Export Finance product | What it does |
|---|---|
| Export Working Capital Scheme | Guarantees up to 80% of the credit risk on a bank's pre- and post-shipment facility |
| Bond Support Scheme | Guarantees up to 80% of the value of bid, advance payment, performance, retention and warranty bonds |
| Export Insurance Policy | Covers up to 95% of a contract's value against the buyer not paying |
| General Export Facility | Supports trade finance facilities up to £25 million without a specific export contract |
Finance belongs in the plan alongside the payment route, not after cash runs short. The guide to trade credit and trade finance explains how these facilities work in practice.
Helm, the firm's own business account and payments platform, provides collection accounts in the currencies an exporter trades through licensed partners in each region, with the invoice and shipping documents attached to each receipt. It is built for exporters with repeat overseas customers and meaningful invoice values, particularly in corridors between the UK and Latin America, Africa, the Gulf and South-East Asia. The trade payments service sets out how corridors are arranged.
Whichever provider is chosen, confirm eligibility, currencies, routes and account structure before changing customer payment instructions. The comparison of business bank accounts for importers and exporters covers the account side.
For repeat business trade, a multi-currency account with local details in the key currencies, plus SWIFT for everything else, is the usual starting point. The right choice depends on customer location, invoice size, currency and terms.
Yes, through US local receiving details, an international USD wire or a foreign currency account, subject to the provider's eligibility rules. Check whether dollars can be held and whether third-party payments are accepted.
Invoicing in the customer's currency makes paying easier; invoicing in sterling moves the FX exposure to the buyer. The answer depends on bargaining power, margins, FX policy and whether the business has foreign-currency costs.
Avoid unnecessary conversion, compare effective margins on real transactions, hold currency to pay costs in the same currency, and use forward contracts for large predictable receipts.
Tighten terms and invoicing first, then consider credit insurance, receivables finance or UK Export Finance, which guarantees up to 80% of a bank's export working capital facility and insures up to 95% of a contract's value.
The United States, which took £203.3 billion of UK goods and services exports in the four quarters to the end of March 2026, 21.7% of the total.
Buckingham Capital Consulting has obtained FCA payment and e-money authorisations for firms including Global Send, Orbital and HFS since 2013, and arranges the collection, safeguarding and operating accounts those firms run on. For UK exporters it sets up multi-currency receiving accounts and FX facilities through licensed partners in the markets their customers pay from.
Speak to an expert: WhatsApp +44 7563 115980, Telegram @buckinghamcapital or info@buckinghamcapitalconsulting.co.uk.
This article is general information, reviewed against the regulator’s published requirements on the date shown. It is not legal advice; the regulator’s current publications take precedence.