International business payments and currency accounts
Send & receive money between countries and convert currencies
Working with customers or suppliers outside of the UK? Use your ANNA business account to hold, send, receive and exchange foreign currencies.
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GBP
USDExchange rate: 1 GBP = USD
How international payments for business work at ANNA
For some businesses, having an IBAN and sending money directly does the trick. But if you’re dealing with lots of international payments – or operating at a bigger scale, with larger sums – it helps to have separate accounts for each currency. ANNA provides you with options on how to send and receive money internationally, and when to convert between currencies on different currency accounts at a more favorable rate.
Currency accounts
ANNA offers currency accounts in USD, EUR and CHF so you can get paid and pay not just in GBP, both outside and inside the UK
Currency exchange
Convert money between your ANNA accounts when and how you want. Got paid in Euros? Keep it in Euros until you need to pay someone in EU or until the exchange rates improve
International payments to and from 200+ countries
Send and receive payments in GBP, USD, EUR, CHF to and from 200+ countries
Multi-currency business accounts
You can have separate ANNA business accounts with their own account details in USD, EUR and CHF. This way, you can keep your business’ money in several currencies and control when and how to convert it into GBP. Keep payments you receive in the currency they arrive in, convert currency at your convenience, hold currency until needed, and make payments directly from your currency accounts.
Currency exchange for business in the UK
For situations when you have a contract in the UK in a non-UK currency, you can convert currencies between your ANNA business accounts, and then send the money to your supplier in the right currency. You know exactly how much is sent to the recipient’s account, without unexpected fees taken out of the final sum on your side.
Currency payments to and from 200+ countries
International payments are the most simple way to send and accept payments to and from outside of the UK. With a vast list of supported countries, ANNA makes it easy for you to take your business global.
What you need to send or receive an international payment
There are cases when you don’t have to open a currency account to send or receive an international payment – your standard ANNA business account will do just fine.
For moving money between countries, ANNA supports SWIFT and SEPA payments.
Get paid from outside the UK
To receive money from abroad, you just need to request an IBAN in the ANNA app chat – and your clients can use it send you an international transfer in one of the supported currencies. When the money reaches your ANNA account, it is either credited to your account in same currency or converted into Pound Sterling and credited to your GBP account.
Send money outside the UK
To send money abroad, just provide ANNA with the recipient’s international account details – usually their full legal name, address and IBAN, international bank account number – we will convert the amount and send it in the recipient’s currency.
How do I use international payments on my ANNA business account?
Just say the words “international payments” in the ANNA app chat! Depending on your needs, we’ll provide you with an IBAN for your main ANNA business account, or suggest options for currency accounts and currency conversion.
How to make an international payment from ANNA, step by step
1. Type “international payment” in ANNA app chat
We’ll ask for the recipient details and check if you want to send a direct payment or prefer to open a currency account first
2. Provide the recipient account details and amount to be sent
With recipient’s international business account details (usually their IBAN, full legal name and address as stated in their bank), we’ll create the payment order for you to check.
3. Check the payment details and the calculated amount in final currency
We’ll use the current foreign currency exchange rate in our systems for your ANNA business account plan to calculate the final amount to be converted and sent to the recipient. If you’re happy with it, just hit approve and the money will be sent. Depending on the currency, country, and sender and recipient, payments usually arrive in around 2 working days. In some situations, it might take longer for the payment to be processed.
Frequently asked questions
What is IBAN?
An International Bank Account Number (IBAN) is a standard way to identify a bank account for international payments. It bundles together the country, bank and account details banks need to send money to the right place – quickly and accurately.
What is BIC / SWIFT?
A BIC (also called a SWIFT code) is an international bank identifier used for sending and receiving money – especially across borders.
BIC stands for "Bank Identifier Code"; SWIFT means "Society for Worldwide Interbank Financial Telecommunication".
A BIC or SWIFT code tells banks which bank the money is going to, and where that bank is located. It usually consists of 8 or 11 characters, for example ABCDGB2L or ABCDGB2LXXX. This code is needed for international payments, or when receiving money from abroad.
International transfers often ask for both your BIC/SWIFT code and IBAN.
What is a correspondent bank?
A correspondent bank is a bank that helps another bank make payments abroad. If two banks do not have a direct relationship, the correspondent bank steps in as the go-between – processing payments and moving money across borders so everything ends up in the right place.
Think of it as the connector that keeps international payments flowing smoothly.
Usually you don't need intermediary bank details to send an international payment. There are some cases when recipient banks require this information in order to correctly receive the payment – though not all business account providers allow for this information to be specified. With ANNA, you always can provide details of an intermediary bank whenever you know this information is necessary.
The opposite is also true: if a sender's bank requires this information for them to send money to your ANNA account, we'll have it ready for you.
How do exchange rates work?
Exchange rates show how much one currency is worth compared to another. Like any price, they are mostly driven by supply and demand. When a currency is in high demand – because of strong trade, investment or a healthy economy – its value goes up. When demand drops, so does the value.
Rates are always moving, influenced by things like interest rates, inflation, political stability and overall economic health. Some currencies are fixed by governments, while others float freely and change with the market.
What is a SEPA payment?
A SEPA payment is a euro transfer that lets you send money across Europe as easily as sending it at home. It uses a standard system, so cross-border payments cost no more and take no longer than domestic ones.
All you need is the recipient’s IBAN (and sometimes a BIC). SEPA covers EU countries and several non-EU nations, and supports credit transfers for individuals and businesses.
How do I handle refunds and credit notes for international B2B payments?
It depends on how the original payment was made. If the money came in via UK local payments (Faster Payments), SWIFT or SEPA, and you have the sender’s full account details, we can process the return for you.
Can I send a business payment to a personal bank account overseas?
Yes. As long as you have the recipient’s international account details, you can send the payment just like any other – provided it’s for a legitimate business reason.
Can I net payables and receivables across currencies to reduce transfers?
Yes – that’s pretty much the whole point of having separate currency accounts. You can keep money in the currency you receive it in, then use it to pay suppliers in the same currency, or exchange it when the rate works for you.
If you have an account in the same currency, nothing is exchanged automatically – which means fewer transfers, more control, and lower foreign exchange fees.
How much time does it take for a payment to arrive?
Inbound SWIFT payments can take up to 5 working days to arrive and be credited to your ANNA account.
Inbound SEPA payments are usually quicker, taking from an instant up to 2 working days to arrive and be credited.
Ready to take your business global?
Sign up for ANNA business account and start saving on conversion rates for currency transfers from the US, Europe and anywhere around the world