Studying abroad comes with financial challenges, especially when it comes to sending and receiving money. RBS International Money Transfer provides a secure and efficient way for students and families to manage cross-border transactions seamlessly.
For students and travelers, quick and reliable fund transfers are essential. With RBS International Money Transfer, users can send money in major global currencies, ensuring financial stability for tuition fees, accommodation, and daily expenses.
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Royal Bank of Scotland International Money Transfer
RBS provides secure and efficient international money transfer services, allowing individuals and businesses to send and receive payments globally. Users can transfer funds in major currencies through Bankline, Digital Banking, and Mobile Banking, with real-time tracking and flexible fee structures.
The service supports various payment options, including urgent transfers and foreign exchange conversion. RBS also offers different charge options—BEN, SHA, and OUR—to suit the sender’s preferences.
With a user-friendly platform and transparent fees, RBS International Money Transfer ensures a seamless global payment experience.
About RBS Bank
The Royal Bank of Scotland (RBS) has about 700 locations in the UK, with the majority of those being in Scotland. Its personal and business banking services, which are offered by a completely different organization from the Bank of Scotland, are available to more than 19 million customers.
The 1727-founded Royal Bank of Scotland (RBS), together with Ulster Bank and NatWest, is a part of the NatWest Group. Despite having most of its operations in the UK, the bank recently established a presence in the US thanks to several acquisitions made at the turn of the 20th century.
RBS offers over 60 additional currencies in addition to the US dollar, British pound, and euro.
Also Read: HNB International Money Transfer
What You Need for an RBS International Money Transfer
To ensure a smooth transaction, you must provide the following details:
- Beneficiary’s Name – The full legal name of the recipient.
- SWIFT BIC (Bank Identifier Code) – A unique code used to identify the beneficiary’s bank.
- IBAN (International Bank Account Number) – Required for payments to certain countries.
- Alternative Account Details – If the IBAN is unavailable, the recipient’s account number and sort code or bank code should be provided.
- Additional Information – Some countries may require specific details as mandated by local regulations. Check the FAQs or contact the Bankline Helpdesk for further information.
RBS International Money Exchange Rates
RBS charges additional costs in addition to the mid-market rate when sending money abroad.
Depending on the currency being converted, a different exchange rate margin will be imposed to each foreign currency transfer. However, RBS consistently charges significant exchange rate margins; you should prepare to pay exchange rate margins of at least 4.5 percent. As an illustration, the margin for converting GBP to EUR is 4.58%.
Before making an RBS International Money Transfer, you can check the latest foreign exchange rates using the RBS FX Calculator. This tool helps you see real-time conversion rates and estimate the amount your recipient will receive in their chosen currency.
RBS International Money Transfer Fees
With Faster Payment, RBS offers free domestic money transfers. Expect to pay £15 when sending money internationally and up to £30 when using telephone or in-branch banking.
Sending money internationally comes with associated costs, and understanding the fees involved is crucial for efficient financial planning. RBS offers different charge options to suit various needs, ensuring transparency in international transactions.
Charge Types
Depending on how you want to handle the transaction fees, you can choose from three charge options:
- BEN – The beneficiary bears all the transaction fees.
- SHA – The sender pays the outgoing fees, and the recipient pays receiving fees (mandatory for SEPA Euro payments).
- OUR – The sender covers all transaction fees.
Fees for International Payments
| Payment Method | Transaction Fee |
|---|---|
| Bankline (All currencies except Euro) | £15 per transaction |
| Bankline (Euro payments) | 45p per transaction |
| Digital Banking (All currencies except Euro) | £15 per transaction |
| Currency Payments within RBS/UK Banks | £15 per transaction |
| Payments between Your Own Accounts (Same Legal Entity) | Free |
For transactions involving foreign exchange conversion, an additional margin is applied.
Also Read: MIZUHO Bank International Money Transfer
How Long Does an RBS International Payment Take?
All international payments made via New Bankline are processed as urgent payments, and you can select the date of transfer.
To track the payment status, you can use the RBS payment tracker, which also allows you to share tracking details with the recipient.
How to Make an RBS International Payment
Making an RBS International Money Transfer is simple and can be done through Mobile Banking, Digital Banking, or by visiting a branch. The process involves selecting a recipient, entering the transfer details, choosing a payment type, and confirming the transaction.
If you are an RBS Premier Banking customer, you can make international payments via telephone banking or Digital Banking for added convenience.
Below is a step-by-step guide for each method.
Mobile Banking
If you have registered biometrics with RBS, you can send payments through the RBS Mobile Banking App:
- Log in to the mobile app.
- Tap Payments and select the account you want to use.
- Select Send Money Abroad and choose a payee.
- Enter the transfer details, including amount and currency.
- Choose the payment type and fee option.
- Complete the transaction using biometric approval if required.
Transaction Limits:
- Payments to saved payees: Up to £10,000 per day.
- Payments to new payees:
- Up to £750 (maximum of 5 payments totaling £750 per day).
- For payments exceeding £1,000, you must use Digital Banking.
Digital Banking
For transactions up to £10,000 per day, you can use RBS Digital Banking:
- Log in to Digital Banking.
- Navigate to Payment Transfers > International Payments.
- Choose the recipient and enter the transfer details.
- Select the payment type and fee structure.
- Confirm the transaction with a card reader or biometric authentication.
For payments over £10,000, visit an RBS branch with your debit card and a valid ID (passport or driving license).
Fax or Post
If you’re unable to visit a branch, you can send payments over £10,000 via fax or post by completing the required payment form:
- Sending a Payment to Europe (PDF, 847KB)
- Sending a Payment Worldwide (PDF, 900KB)
Once filled and signed, send the first page to:
Payments Centre
NatWest
5th Floor, 1 Spinningfields Square
Manchester
M3 3AP
Fax: 0345 300 3369 (Overseas: +44 161 755 7272)
Also Read: KVB International Money Transfer
RBS’s SWIFT Code
A SWIFT Code is required if someone wants to transfer your money from another country. RBS’s SWIFT code is RBOSGB2L.
FAQs
RBS International Money Transfer allows individuals and businesses to send and receive payments globally in major currencies through Bankline, Digital Banking, and Mobile Banking.
Payments made via New Bankline are processed as urgent transfers, and users can select the transaction date. The status can be tracked using the RBS payment tracker.
You need the beneficiary’s name, SWIFT BIC, IBAN (if applicable), account number, sort code (if IBAN is unavailable), and any additional country-specific details required by local regulations.
– Bankline & Digital Banking (All currencies except Euro): £15 per transaction
– Bankline (Euro payments): 45p per transaction
– Payments between own accounts (same legal entity): Free
– BEN (Beneficiary Pays All Fees) – The recipient covers all transaction charges.
– SHA (Shared Charges) – The sender pays outgoing fees, and the recipient pays receiving fees (mandatory for SEPA Euro payments).
– OUR (Sender Pays All Fees) – The sender bears all transaction costs.
– Up to £10,000 for payments to saved payees.
– Up to £750 for payments to new payees (max 5 payments totaling £750 per day).
– For payments above £1,000, users must use Digital Banking.
You can track your transfer status using the RBS payment tracker, which also allows you to share tracking details with the recipient.
Payments over £10,000 must be made via an RBS branch, fax, or post. If using fax or post, you need to complete and submit the appropriate payment form.
Yes, RBS Premier Banking customers can make international transfers over the phone if they are enrolled in telephone banking or Digital Banking.
You can use the RBS FX Calculator to view the latest exchange rates and estimate the amount the recipient will receive.
To learn more about bank accounts for students, the best education loans, forex, banking experience for global students, or international money transfers, reach out to our experts at 1800572126 to help ease your experience with studying abroad.
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