Obtain the receiving bank instructions
Prepare the beneficiary name as registered with the bank, bank name and country, account number or IBAN, and SWIFT code as required for that bank and country. Ask the beneficiary or their bank for receiving instructions instead of guessing codes from a bank name. Required fields vary; the team confirms those appropriate for the corridor.
Check the name and account before approval
Compare the beneficiary details, invoice and bank instructions. For a business beneficiary, use the name registered on its account. A correctly formatted account number does not establish that the account holder matches. Confirm any supplier account change through a known contact channel before submitting the payment.
Explain the purpose, currency and charges
State origin and destination countries, amount, currency and payment purpose, with an invoice when requested. Ask which UR charges and known bank or intermediary fees are included, and whether external deductions could affect the net credit. Do not assume the amount you pay equals the amount credited to the beneficiary.
Keep the reference and follow corrections
Ask for an estimate after the details and documents are reviewed. Keep the reference, receipt and approved instructions. Contact the team with your reference if a name or account needs correction; amendment or cancellation depends on the request status and executing parties. Do not submit another payment simply because the bank credit is not immediate.
Your enquiry checklist
- Beneficiary name, bank name and country
- Account number or IBAN and SWIFT as instructed
- Amount, currency, purpose and invoice when needed
- Total charges, expected net credit and estimated timing
Paying suppliers in China in yuan: prepare your UR request
Prepare a China supplier payment request with the invoice, beneficiary name, account type and yuan target, then check the exchange rate, fees and expected net payout.
Read the guideUnderstand transfer costs: exchange rates, fees and net payout
Distinguish the transfer amount, total payable and expected net payout, check the exchange-rate unit and confirm possible charges before approving a UR request.
Read the guideTrack a UR transfer by reference: status and receipt help
Use an issued UR transfer reference, distinguish it from an enquiry number or payout code, and prepare a clear support request if the status needs checking.
Read the guide