Payment from US bank sort code

hubb

I just need to know if a routing number is the same as a sort code as I am getting payment from a US company into my Natwest bank account.

Thanks.

ccbrowning

Kind of, but not really the same I don't think. Personally, I do this all of the time and the rates and fees are much better using xe.com to send the money between US and UK banks.

hubb

I did accept Paypal payment but papal charge a fee. I have payment direct from Getty in the US also and it goes straight into my Natwest at no charge.

drlabman

I think what you need for international transfers is the IBAN number of your NatWest account.

System

Unfortunately, IBAN is a European thing - they don't use/recognise them in the USA.

You will need NatWest's SWIFT details

ccbrowning

Regardless, do not do a bank to bank transfer. It will not be cheaper than using xe.com or another such site to transfer the funds.

hubb

Looking at the fees they charge probably more than Paypal. What I can't understand is how I get paid by Getty (USA) and end up with the same amount in my bank account with no fees taken.

dalesrider

hubb wrote: »

Looking at the fees they charge probably more than Paypal. What I can't understand is how I get paid by Getty (USA) and end up with the same amount in my bank account with no fees taken.

Not possible to do it fee/charge free.

How regular and for how long are you going to be paid by them?

As others have said there are companies who will do it for you, and maybe charge less than bank or paypal.

Other option would be a us or international account and take a trip across and take cash out and then exchange it. But again not going to be free.

Miss_Havisham

what exactly are you wanting to do ? the responses so far are addressing a range of issues. The routing number is an american term to identify a bank/branch within the US payment clearing system.

Secondly It IS possible to receive the exact amount without deduction of charges if the remitter asks for all charges to be charged to them (fools !).

Are you receiving US$ or stg, do you have a stg or US$ account ?

Miss H

catokelly

Even though Natwest wont charge you a fee for receiving US Dollars into your account, you need to consider what kind of rate they will be applying to convert the USD to Sterling...

When sending dollars back to the uk, you may be better off using an international money transfer company to convert the USD for you, as their rates are much more competitive(most of them hold US Dollar account, so the Dollars can be transferred directly to their dollar account and they would convert the USD into Sterling for you, then transfer it to your nominated UK account.

hubb

Perhaps I should stick to Paypal.