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In order to receive money, you need to share your bank account details with the sending person or business. You can view your account details for any of your currency accounts you have open – GBP, USD, EUR, KWD, AED, SAR.

For receiving SWIFT payments (for international transfers), the same account details (IBAN and SWIFT/BIC code) are used across all your currency accounts.

To get account details:

1. Log in to your account in the app

2. Select the currency account you want to receive money to, in the Accounts section of the home screen

3. If you cannot see the currency account you want to receive money in, select ‘Add currency’; it is important to make sure that the currency account is opened before receiving money in that currency

4. Tap ‘Add money’ - you will then see the bank details for that currency account

All non-GBP currency accounts share the same details (IBAN and SWIFT/BIC code), but your GBP account will give you 2 options to receive money depending on where the money is coming from, either Inside of the UK (account number and sort code) or Outside of the UK (IBAN and SWIFT/BIC code)

5. Use these account details to transfer funds from other bank accounts to your Nomo account

The bank details required for receiving money depend on what type of bank account the money is coming from. All of these details can be found in the ‘Add money’ section of your individual currency accounts.

If you are transferring from a UK bank account, you will need:

• Your full name
• Your sort code
• Your account number

Please note, these details are different from those needed to receive money from a non-UK bank account.

Please note, the sort code and branch address for your GBP Account are different to your other currency accounts. This is because we have different partners for our GBP and multi-currency accounts.

If you’re receiving money from a UK bank account, please use the following sort code: 04-13-68

The bank details required for receiving money depend on what type of bank account the money is coming from. All of these details can be found in the ‘Add money’ section of your individual currency accounts.

If you are transferring from a non-UK bank account, you may need a combination of:

• Your full name
• Your sort code
• Your IBAN
• Your SWIFT/BIC
• The branch address of our multi-currency partner, CurrencyCloud

The details you need will be determined by the location of the sending bank, and the type of transfer.

Please note, the sort code and branch address for your GBP Account are different to your other currency accounts. This is because we have different partners for our GBP and multi-currency accounts.

If you’re receiving money from a bank account based outside of the UK and you are asked to provide a sort code, please use the following sort code: 04-14-04

Yes, however, not all banks support the six currencies available with Nomo. There may be limitations on whether other banks can process transfers in all the supported currencies, meaning that the sender can only transfer funds in GBP or other specified currencies.

Some banks might restrict the use of their local currencies for international payments, such as KWD from Kuwaiti banks or AED from UAE banks. Make sure that you’re aware of any fees or foreign exchange markups that your sending bank may apply to your transaction.

Please remember that you can only receive payments in the currency corresponding to the account. Therefore, it's essential to ensure that the sender uses the correct currency and account details for the transfer.

For instance, if you wish to receive funds in your USD currency account, the sender should initiate the transfer in USD (provided that the sending institution allows them to send in that currency).

Once the funds are in your account, you have the flexibility to convert them into any other available currency account that you've opened.

In general, receiving bank transfers from UK banks (via FasterPayments) is designed to be almost immediate. Typically, within seconds of being initiated, the funds should reach your account (but may take up to 2 hours on rare occasions).

Most international transfers arrive on the same day they are sent (provided they are sent before the cut-off time).

However, they can take anywhere from a few hours to a few business days (usually up to 2 business days, but allow for 5 business days).

The transfer time depends on:

• The sending bank
• Where the transfer is initiated from

If the sender is initiating a SWIFT payment to your Nomo account, it's recommended to check with the bank or financial institution for more accurate information about their processing times, based on the specific details of the transfer.

Certain factors can lead to extended processing times:

1. Intermediary banks are involved in SWIFT transfers to facilitate the secure and accurate transfer of funds internationally. They play a role in verifying payment details, ensuring compliance with regulations, and routing the transfer through a network of banks. This can potentially cause delays.

2. Cut-off times of sending, intermediary, and receiving banks all may contribute to delays, adding on an additional working day or more.

• Nomo’s payment provider can receive and credit SWIFT funds between the following hours of 06:00 to 18:30 (UK time and UK business days)

3. Weekends (Saturday and Sundays) or public holidays of sending and receiving banks may further extend SWIFT processing periods

4. Compliance and verification of banks (including intermediary banks) are responsible for verifying the accuracy of the payment details, including recipient information, account numbers, and compliance with anti-money laundering (AML) regulations. This due diligence takes time and contributes to longer overall processing times.

Once the bank transfer has been sent, the transfer can take some time to be received. You should wait until the necessary time has passed before taking any further action:

• For bank transfers from UK banks, wait up to 2 hours
• For bank transfers from non-UK banks (international payments), wait up to 5 working days

If the above wait time has passed and you’re still waiting to receive the transfer, the best way to check the status is to ask the person who sent it. If you are the sender and you’re transferring between bank accounts, contact the sending bank. Follow the below steps to check on the status of your transfer:

• Check if the payment has not been returned to the sender
• Ask the sender for a transfer receipt or proof of payment
• Verify with the sender if the bank account details they used are correct; if there was an error and incorrect details were used, the sender should contact their bank to understand the next steps

It's important that the sender reaches out to the sending bank to ask for the payment to be traced, as it is the responsibility of the sending institution to issue any investigation or send a tracer on funds.

If you’d like the Nomo team to help, please send us proof of payment including the following details, via a receipt, bank statement, or screenshot from an online bank:

• SWIFT reference number (payments from non-UK banks)
• Sending bank name
• Date of transfer
• Amount and currency

The sending bank should be able to provide you with detailed information about where the payment is, or an MT103 SWIFT message, which will help us to locate the transfer.

There are a number of methods you can use to receive money to your Nomo account by sharing your bank account details.

Here are a few important things to keep in mind when receiving transfers, how your account number, sort code, and IBAN or SWIFT/BIC code differ from each other, and when it's important to use these details:

1. Receiving money from UK banks

• FasterPayments, CHAPS

To receive money from UK banks to your Nomo account, you simply need to provide the sender with your Nomo account number and sort code. With these details, they can initiate a transfer to your Nomo account.

Account Number: This is a unique number that helps to identify your Nomo account.

Sort Code: A six-digit code that assists in routing transfers to the correct bank and branch. The Nomo Bank sort code is 04-13-68

• BACS: Direct Credits (UK)

A Direct Credit is set up by a business or entity wishing to pay money into your account, so there is nothing you need to do for one to be set up. Simply share your bank details (account number and sort code) with the sender.

This type of transfer is often used for regular transactions like salaries, pensions, and bill transfers.

BACS Direct Credit transfers typically take a few business days to be processed, providing a secure and convenient way to receive funds directly into your account.

Please note, FasterPayments, CHAPS and BACS transfers can only be processed in your GBP account.

2. Receiving money from non-UK banks

• SWIFT transfers

For transfers from banks based outside of the UK, and specifically those utilising the SWIFT network, you'll typically need to provide the sender with the following details:

IBAN (International Bank Account Number): A standardised format that identifies your Nomo account internationally

SWIFT/BIC Code (bank code): This code ensures the accurate delivery of funds to your Nomo account through the SWIFT network. The Nomo Bank SWIFT/BIC code is TCCLGB3L

Bank Clearing Code (also known as the ‘sort code’): Some banks, when processing international transfers, might request the sort code as an additional validation measure. For international receipts, the BCC or sort code for Nomo Bank is 04-14-04

Nomo uses the IBAN and BIC code provided by our 3rd party provider, CurrencyCloud. It's important to note that these details are needed for international transfers from non-UK banks.

• Local routing cross-border transfers (non-GBP)

Some financial institutes or banks allow bank transfers via ‘local transfer routing’ for international transfers, which is a more cost-effective method, such as:

SEPA (Single Euro Transfers Area) which is used for transfers in Euros

ACH (Automated Clearing House) for transfers in US Dollars and other currencies

Nomo does not currently support receipts for ACH inbound transfers.

If someone is attempting to initiate a bank transfer from a UK bank to your GBP Account, you might encounter a situation where the sender receives a warning about matching your Nomo account details, or the legitimacy of the recipient account.

This is linked to the Confirmation of Payee (CoP) process, which some banks in the UK have already adopted.

CoP is a security measure implemented by banks to ensure alignment between the recipient's account details and the intended beneficiary's information. Any inconsistencies in the beneficiary's name can trigger this error.

It's important to emphasise that your Nomo account is genuine and not fraudulent. However, it's worth noting that we haven't yet become a part of the Confirmation of Payee initiative.

If the sending bank does not recognise your Nomo bank details, kindly get in touch with our Customer Services team and inform us of the situation by providing us with as much information as possible, including screenshots of the error and the bank’s name.

It's important to note that Nomo does not charge any fees for receiving funds. This ensures that the amount you receive isn't reduced due to any fees imposed by Nomo.

Sending funds via the SWIFT network involves fees when the sending bank and the beneficiary bank do not have a direct relationship, so an intermediary bank is required to process the transfer. This intermediary bank will often take a fee for forwarding this payment.

The fees are determined by the sender:

• If the sender selects an "OUR" fee option, where all transaction charges are paid by the sender, you’ll receive the payment in full and avoid the intermediary charges. This ensures that you receive the entire payment without any deductions.
• If the sender selects a "SHA" (Shared) fee option, the sender is willing to pay their bank's transfer charges. It's important to acknowledge that while the sender's transfer charges are covered, there could still be deductions in the received amount due to intermediary and recipient bank charges.
• If the sender selects a “BEN” (Beneficiary) fee option, you will pay all costs and receive the payment after deductions for fees from the sender and intermediary banks.

Get in touch with the sender or sending bank for clarification about these fee options.

When the sender enters your IBAN or SWIFT/BIC on their banking platform to send money to your account, their bank can use the information encoded in your IBAN and SWIFT/BIC to identify the receiving bank and route the payment to the correct destination.

"The Currency Cloud Limited" is the third-party payment provider Nomo has partnered with for processing and receiving international payments. The sending bank might show Nomo’s bank name and address as:

The Currency Cloud Limited The Steward Building 12 Steward Street London, UK E1 6FQ

This is because of the SWIFT BIC (TCCLGB3L) associated with Currency Cloud Limited. Your international payment will still be deposited to your Nomo currency account.

This address will also be shown in the ‘Add money’ details of your non-GBP currency accounts, and your GBP Account when you are planning to receive money from outside of the UK.

Bank transfers can be returned to the sender for reasons such as incorrect account details, invalid account status (e.g. closed accounts), fraud suspicion, compliance issues, bank restrictions, technical glitches, network delays, or problems with currency conversion.

If you're facing repeated issues, we suggest that the sender gets in touch with their bank to understand what’s causing the transfer to fail. Please don't hesitate to reach out to our customer support team for help.

We are aware of some instances where international bank transfers to specific currencies from certain banks aren't successful in reaching Nomo accounts. If you encounter this issue, please contact us so we can help guide you. We may request that you try sending in a different currency, such as GBP.