Cooperative Bank International Transfer

Cooperative Bank International Transfer
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Cooperative Bank UK offers international money transfer services to its customers. The bank offers two types of international money transfer options to its customers – online and branch transfers. The fees for Cooperative Bank International Transfer vary depending on the destination country, the amount transferred, and the transfer method. Customers can check the fees on the Cooperative Bank UK website or by contacting their customer service. The financial institution offers competitive exchange rates for overseas money transfers. The delivery time for international fund transfers varies depending on the destination country and the transfer method. Generally, online transfers are faster than branch transfers.

How to Make Cooperative Bank International Transfer?

A customer of Cooperative Bank UK can make an international transfer to an individual or an enterprise outside of the nation. To make an overseas transfer, the customer must call the bank on 03457 212 212 between 8 am to 6 pm from Monday to Friday and 9 am to 5 pm on Saturday and Sunday. They/she/he can visit the nearest branch to make the transaction. 

Or, the customer can use the online banking portal of the bank to make a Cooperative Bank International Transfer. They/she/he is advised to follow the instructions given below to complete a transaction:

  • Log in to the Cooperative Bank UK online banking portal
  • Choose the ‘Payment and Transfers’ option from the drop-down menu on the left-hand side of the dashboard
  • Select the ‘Pay and Transfer’ option
  • Choose ‘Pay Someone else’ and select the ‘International’ option
  • Click on the ‘Continue’ button
  • Choose the account from which you want to transfer money internationally
  • Choose the payee from the drop-down menu of the ‘Select Payee’ tab
  • Choose the currency in which you want to make the payment
  • Enter the amount to be sent
  • Choose the charging method of the Cooperative Bank International Transfer
  • If the payment is made via an intermediary bank, you need to select the ‘Use Bank to Bank Information’ option and enter the details of the third-party bank.

Also Read: Discover Bank International Wire Transfer

Methods of Payment

Customers of the Cooperative Bank UK can make international payments through US Structured Payment or Single Euro Payments Area (SEPA). Overseas transfers are then sent via Society for Worldwide Interbank Financial Telecom (SWIFT) transfer network. 

International transfers sent outside of the European Economic Area (EEA) and countries other than the United States of America (USA) need correspondent banks or agents to forward funds to banks of recipients. 

Information Required

To set up a Cooperative Bank International Transfer, the sender must provide the following information:

  • The transfer amount and its currency
  • International Bank Account Number (IBAN) of the receiver
  • SWIFT code or Bank Identifier Code (BIC) of the recipient bank

Also Read: Fifth Third Bank International Transfer

Delivery Time

Given below are different timelines for international transfer via Cooperative Bank UK:

  • A beneficiary in any of the EEA/European Union (EU) nations receives the payment within 24 hours (by the end of the next business day) if the payment is made in Euros.
  • A recipient residing in any EU/EEA country receives the international transfer within 3 working days if the transaction is made in non-EEA currencies.
  • A receiver staying in non-EEA/EU nation receives an overseas transfer within 5 business days. 

How to Cancel Cooperative Bank International Transfer?

Cooperative Bank UK does not guarantee to recall or amend a successful international transfer because the recipient bank is not obligated to return the funds. However, a sender can apply for cancellation of an overseas transfer. The bank charges cancellation fees. It also states that the sender can sometimes be subjected to exchange rate loss if the transaction is recalled. 

How to Receive Cooperative Bank International Transfer?

Given below are steps to receive an overseas transfer in a Cooperative Bank UK account. The fastest method of receiving a transfer from abroad is through an electronic transfer. To receive an international transfer, the recipient must provide the following information to the sender:

  • The registered address of the Cooperative Bank UK (The Co-operative Bank plc, PO Box 101, Balloon Street, Manchester, M60 4EP)
  • BIC/SWIFT Code of this bank- CPBKGB22
  • IBAN of the recipient account
  • Account number of Cooperative Bank, if the sender’s bank does not use IBAN. 

FAQs

How long does an international transfer from Cooperative Bank UK take?

A recipient residing in any EU/EEA country receives the international transfer within 3 working days if the transaction is made in non-EEA currencies. A receiver staying in non-EEA/EU nation receives an overseas transfer within 5 business days. 

Can Cooperative Bank UK receive money from abroad?

Yes. The fastest method of receiving a transfer from abroad is through an electronic transfer. 

How do I make an international transfer with Cooperative Bank?

Log in to the Cooperative Bank UK online banking portal. Choose the ‘Payment and Transfers’ option from the drop-down menu on the left-hand side of the dashboard. Select ‘International’ in the subsequent steps. Enter the SWIFT/BIC Code. IBAN, Transfer Amount, and other mandatory details to complete the transfer.

To learn more about international money transfers, stay tuned to Fly Finance. 

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