For payments sent to your Reliance Bank account
Reliance Bank is an Agency bank and as a result we do not have specific IBAN numbers linked to individual accounts. Payments are directed via our collection account held at HSBC, our correspondent bank for international payments. The details you must quote are as follows:
Swift Code/BIC: MIDLGB22
It is extremely important that you instruct remitters to include the phrase "credit (your account name and account number) at Reliance Bank Ltd", otherwise this will delay or prevent the funds being credited to the account.
Foreign Exchange & Services
It is necessary to make a small operational charge for the following services:
- Reliance Bank Visa: Transaction charge for any purchases made or cash withdrawals from an ATM when abroad: flat fee £1.25.
- International Money Transfers: Minimum charge of £15.00 for any value of international money transfer. (Under this option, costs may be levied by correspondent/beneficiary banks which will be deducted from the final amount paid to the beneficiary).
- International Money Transfers: Minimum charge of £22.50* to ensure the full value of any international money transfer is received by the beneficiary - our 'all charges' option. (Additional charges may be levied by correspondent/beneficiary banks involved in the transaction over and above the £7.50 premium you pay for this service. These will be debited to your account at a later date). *This option is not available for GBP/Euro payments within the EEA.
To comply with a Euro Payments Council resolution, all inward and outward euro currency payments require a valid BIC (Bank Identifier Code) and IBAN (International Bank Account Number) included as part of the payment instructions.
To avoid unnecessary delays and expense, please ensure that for outward overseas payments you obtain BIC/IBAN details from the ultimate beneficiary and include this information on your payment instructions.
Reliance Bank will continue to process any euro payments without an IBAN, although the Beneficiary Bank has the right to reject such payments and/or apply additional charges that will be passed onto the remitter.