How can we help you today?

With Nomo, you can currently open an account in six different currencies.

These are:

GBP - Pound Sterling

USD - US Dollar

KWD - Kuwaiti Dinar

AED - United Arab Emirates Dirham

EUR - Euros

SAR - Saudi Riyal

The previous codes SWIFT/BIC, BLMEGB2L, BLMEGB2LBB2 or BLMEGB22, are no longer being used for GBP or USD payments. You should update your beneficiary list to use the new SWIFT/BIC (TCCLGB3L) for international transfers with Nomo.

These details have changed because we have switched multi-currency partners as a result of our multi-currency launch.

No. With our multi-currency accounts, you can use the same IBAN across all your currency accounts for receiving international transfers. The sending bank must be able to support sending multiple currencies to the same IBAN. If they do not support multiple currencies, it might be received in your Nomo GBP Account by default.

You can add or receive money by bank transfer. To add money, go to the account you wish to transfer into and select ‘Add money’. You need to share your account details, either sort code and account number for UK transfers, and for international transfers, you should provide the IBAN and SWIFT/BIC to the sender.

It is important that you make sure you have the currency account opened before receiving money into your account (eg. EUR), to avoid delays or payments being rejected and returned to the sender.

This feature is not available at the moment but it costs no extra money to keep the account open.

There are no hidden fees when exchanging currencies, we apply mid-market exchange rates.

We are transparent in our charges and fees will be displayed to you separately on the quote screen before converting your currency.

Please refer to our Fees page.

It’s free to transfer GBP (£) to another UK account.

For international transfers, we charge a small fee depending on the currency, destination country and payment type. This fee will be quoted to you before making the payment.

Please refer to our Fees page.

Before every currency exchange you make, we will show you an expected exchange rate. The rate used is the mid-market exchange rate provided by our multi-currency provider. It will be the latest rate after you confirm the transaction, and may change by a small margin. The rate used will be shown in your statements and transaction list.

The information you require for the transfer will differ depending on the currency you want to send.

1. Navigate to the currency account you would like to send from

2. Select ‘Pay & transfer’

3. Click ‘International transfers via Nomo’

4. Select the recipient’s country

5. Enter the amount you would like to send, and add a reference if you wish

6. Add the recipient by adding their details, including:

   • Account type (personal or business)

   • First, middle and last names, as they appear on the recipient’s account

   • The recipient’s address

   • The recipient’s SWIFT/BIC and IBAN/account numbers

7. Confirm the transfer

A local routing transfer uses local payment routes such as ACH, Faster Payments, and SEPA. It’s our most cost-effective way to move money globally. Local routes make use of transfer channels set up in a domestic market to make the payment process between banks more efficient.

SEPA stands for Single Euro Payments Area, which is an initiative to make payments and transfers simple and consistent within and between EU member countries.

SEPA counts 36 countries as members: Austria, Belgium, Bulgaria, Cyprus, Croatia, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Republic of Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovenia, Slovakia, Spain and Sweden, along with non-EU members Iceland, Norway, Liechtenstein, Switzerland, Andorra, Vatican City, Monaco, San Marino and the UK.

Most SEPA transfers are settled within one business day of being initiated.

SWIFT (Society for Worldwide Interbank Financial Telecommunications) is the leading system for transferring payments securely around the world, in multiple currencies.

This type of payment goes through the international SWIFT network and is much easier to track than local routing transfers.

When a payment goes through SWIFT, there are fees charged by the intermediary banks.

There are different options for paying the fees for SWIFT transfers:

Shared (SHA): The fee is shared between you, the sender, and the recipient. You pay Nomo’s transfer fee, and the recipient pays the intermediary bank fees and any fees imposed by their own bank. The fees charged by the intermediary bank are taken out of the payment amount. Because of this, the amount the recipient receives in their bank account may not be the full amount expected.

Ours (OUR): As the sender, you pay all fees for the transfer, including the fees charged by the intermediary and recipient bank. These fees are not taken out of the payment amount. The recipient gets the full amount of the payment, but the person making the payment will have to pay a higher fee to cover the costs of the intermediary bank.

An intermediary bank is a bank that acts on behalf of the sending bank to facilitate international money transfers via the SWIFT network. This type of bank is needed when the sending and beneficiary banks don’t have an established relationship. They’ll often charge their own fee for their services, which will impact the amount your recipient gets.

These chargeable services can include routing and processing, currency conversion, risk mitigation, compliance and regulatory requirements, transaction tracking, communication and settlement.

Once your money has reached the recipient’s bank, there may be an incoming transfer fee for processing the transfer, which covers the activities of the intermediary bank.

All of the different currency accounts you open can be used with the same physical debit card. When you open a new currency account, it will automatically be added to your Nomo debit card.

You will be able to see which currency accounts you have by navigating to the home screen of your Nomo app.

If you have insufficient funds in the currency account that is being spent with the card (e.g. AED), then we will deduct the amount from the GBP account if there are sufficient funds.

However, if you also have insufficient funds in your GBP account, then the transaction will be declined, even if you have funds in other currency accounts (e.g. in your EUR account).