Issues with Euro payments into HSBC UK "Global Wallet"

I_Eat_Cake

Hello, I'm a contractor and am losing my mind trying to get paid for a Euro client that I'm working with, for reasons that I can't quite grasp, so I'd really appreciate any help! Here's the context:

- I contract through a UK based Ltd company that is UK VAT registered. I use HSBC UK for business banking.
- The placement was arranged by, and therefore my contract is with, a UK-based recruiting agency (for what it's worth, it's outside of IR35, and therefore not a payroll type of thing, just invoices)
- The end client that I'm working with is in France. They pay in Euros, and I'm assuming the payments route via the recruiting agency's bank.. which I can only assume is a UK bank? Either way, the remittance advice notes I've been emailed for my first 2 invoices (which are badly overdue for payment now for the reasons listed below) show them as being paid in Euros.
- I didn't want my invoices to be paid into my own company's account each month at random exchange rates, so I opened an HSBC Global Wallet account (so I could hold the Euros until exchange rates were okay).
- For the 'Euros' part of the HSBC Global Wallet, it provides an IBAN related to "HSBC Continental Europe, Ireland" through which to receive Euro payments. This is the IBAN I have to the agency to pay into.
- No invoices have yet been paid since they're saying that a UK company with a UK bank account can't receive payments via a non-GB IBAN.

This last point is where I start spinning gently on a hamster wheel of differing opinions. I spoke to HSBC, they said there's no issue. I speak to the agency, they say there absolutely is an issue and they can't / won't process the payments because of it. I don't know what to do!
Any guidance would be greatly appreciated.
Thanks

Mark_d

Is the HSBC Global Wallet a personal account or a business/company account?

Bookworm105

Mark_d said:

Is the HSBC Global Wallet a personal account or a business/company account?

HSBC Global Wallet is a digital multi-currency account for overseas transactions and real-time funds management. Designed for SMEs doing business across the world

HSBC Commercial Banking: HSBC Global Wallet: Pay and Receive like a Local