Receiving Money From Abroad in the UK in 2026

Best ways to receive money from abroad

There's no single best way to receive money from abroad.

The right one depends on what you're receiving, in which currency, how fast you need it, and how you want to get hold of it.

Here are your main options, and the sections that follow take each in turn.

Multi-currency account

A multi-currency account lets you receive payments in different currencies.

And many will give you your own local account details in several currencies, for example:

• A UK sort code and account number for pounds

• ACH and routing number for US dollars

• IBAN for euros

A sender pays you as though the transfer is domestic, in their own currency, and the money lands in that currency for you to hold and convert to pounds whenever you want.

Receiving is typically free, and you only pay when you convert the received currency into pounds.

Usually, this is done at slightly above interbank rate or with small fees (much smaller than your regular bank).

Here are a few examples of how much you can expect to receive with top companies offering multi-currency accounts in the UK from different countries:

Last updated at 17/09/2026

EUR GBP

Mid Market Rate €1 = £0.8568

Transfer Amount €1,200

1

Wise

2

Revolut

You get after fees

Transfer fee

Markup

Cheaper than avg. bank

£1,022.41

€6.71

0.00%

£25.06

Visit

£1,021.62

€3.80

0.32%

£24.27

Visit

USD GBP

Mid Market Rate $1 = £0.7473

Transfer Amount $1,300

1

Revolut

2

Wise

You get after fees

Transfer fee

Markup

Cheaper than avg. bank

£967.28

$3.45

0.17%

£24.99

Visit

£962.95

$11.28

0.01%

£20.66

Visit

AUD GBP

Mid Market Rate $1 = £0.5312

Transfer Amount $1,900

1

Revolut

2

Wise

You get after fees

Transfer fee

Markup

Cheaper than avg. bank

£1,006.18

$2.85

0.15%

£27.15

Visit

£1,005.24

$7.47

0.00%

£26.21

Visit

CAD GBP

Mid Market Rate $1 = £0.534

Transfer Amount $1,900

1

Wise

2

Revolut

You get after fees

Transfer fee

Markup

Cheaper than avg. bank

£1,008.63

$11.16

0.00%

£24.48

Visit

-

-

-

-

Visit

AED GBP

Mid Market Rate AED 1 = £0.2035

Transfer Amount AED 4,900

1

Wise

2

Revolut

You get after fees

Transfer fee

Markup

Cheaper than avg. bank

£988.45

AED 42.00

-0.01%

£21.29

Visit

-

-

-

-

Visit

NZD GBP

Mid Market Rate $1 = £0.4282

Transfer Amount $2,300

1

Revolut

2

Wise

You get after fees

Transfer fee

Markup

Cheaper than avg. bank

£981.90

$4.95

0.10%

£26.54

Visit

£981.51

$8.06

0.00%

£26.15

Visit

HKD GBP

Mid Market Rate $1 = £0.0952

Transfer Amount $10,600

1

Wise

2

Revolut

You get after fees

Transfer fee

Markup

Cheaper than avg. bank

£1,004.43

$53.78

0.04%

£25.19

Visit

-

-

-

-

Visit

SGD GBP

Mid Market Rate $1 = £0.5856

Transfer Amount $1,700

1

Revolut

2

Wise

You get after fees

Transfer fee

Markup

Cheaper than avg. bank

£993.94

$2.55

0.00%

£28.24

Visit

£992.75

$4.72

0.00%

£27.05

Visit

Show moreShow less

*Rates and fees update weekly based on our live search comparisons.

Receiving limits are set by the provider rather than by law and are generally high, though they vary by company.

The one tradeoff is the FSCS protection. Most of these companies are FCA regulated, hold e-money license, and safeguard the funds in major banks (meaning it’s separate to operating costs).

Bank deposit

Receiving into your everyday UK bank account is the most popular option.

The sender will use your account details and the money will arrive directly into your bank account.

Most of the time this is the cheapest deposit method to receive money and is widely available everywhere.

However, the path money takes to reach the account is what affects the speed and the cost (this is also known as rails).

Local accounts

Money transfer companies like Wise, TapTap Send, Revolut, etc. will use their own network of bank accounts across the world.

The sender will deposit money into one account online, and the transfer company will transfer you money from the local account in your country, using local methods to your bank account.

This bypasses all the intermediaries (more on that below), which makes it much cheaper and faster compared to banks.

International bank wire (SWIFT)

This is the traditional bank way of sending money.

If the senders use their bank, money enters the SWIFT network, which then carries through a network of banks across the world.

Your money literally goes from one country's bank to another. These are known as the intermediaries.

Each intermediary bank will take a small fee for processing the transaction.

And, these are dependent on bank opening and closing times, meaning if the intermediary bank is closed, it won’t process the transaction.

This is why it’s slower, and more expensive to receive money via traditional bank wire.

Transfer limits

In terms of limits, there’s no legal cap on how much you can receive.

However, if you’re receiving an unusually large amount, your bank may freeze the transfer to run additional safety checks.

If you’re using an app-only bank like Monzo, Monese, Starling Bank, or Revolut (known as challenger banks), they handle incoming transfers differently.

Some don't support inbound SWIFT directly, some route it through a partner, and a few can't receive foreign-currency payments at all, instead they convert to GBP automatically.

All in all, bank transfer is the cheapest way to receive money via an international money transfer apps and companies.

Cash pickup

With cash pickup the sender pays a provider like Western Union, MoneyGram or Ria, and you collect the money as physical cash from a nearby agent or branch.

You’ll need to bring the transfer reference number and valid photo ID, and in some cases proof of address.

It's built for speed and access rather than value.

Funds are often ready within minutes, and you don't need a bank account to collect, which makes it useful if you don't have a bank or live in an unbanked area.

However, it’s usually one of the most expensive receiving options, and requires a provider that can handle cash transfers.

Here are a few examples of how popular high-street agents compare when receiving money in the UK:

Last updated at 17/09/2026

EUR GBP

Mid Market Rate €1 = £0.8568

Transfer Amount €1,200

1

Western Union

2

MoneyGram

3

Ria Money Transfer

You get after fees

Transfer fee

Markup

Cheaper than avg. bank

£1,028.16

€0.00

0.00%

£30.81

Visit

£1,007.52

€1.00

2.03%

£9.34

Visit

-

-

-

-

Visit

USD GBP

Mid Market Rate $1 = £0.7473

Transfer Amount $1,300

1

MoneyGram

2

Ria Money Transfer

3

Western Union

You get after fees

Transfer fee

Markup

Cheaper than avg. bank

£963.69

$1.99

0.80%

£19.96

Visit

-

-

-

-

Visit

-

-

-

-

Visit

AUD GBP

Mid Market Rate $1 = £0.5312

Transfer Amount $1,900

1

Western Union

2

MoneyGram

3

Ria Money Transfer

You get after fees

Transfer fee

Markup

Cheaper than avg. bank

£999.32

$0.00

0.99%

£20.29

Visit

£990.09

$2.99

1.92%

£9.51

Visit

-

-

-

-

Visit

CAD GBP

Mid Market Rate $1 = £0.534

Transfer Amount $1,900

1

MoneyGram

2

Western Union

3

Ria Money Transfer

You get after fees

Transfer fee

Markup

Cheaper than avg. bank

£992.56

$4.99

2.20%

£5.82

Visit

£981.83

$0.00

3.27%

-

Visit

-

-

-

-

Visit

*Rates and fees update weekly based on our live search comparisons.

As a side note, the money you receive via cash is still recorded, it’s not anonymous, and there will be records that you have picked it up.

Cash delivery

Cash delivery takes the same idea a step further. Instead of collecting, you have the money delivered to your door.

Cash delivery is the most expensive option of all, and many companies will have small limits for this.

Cash delivery is becoming more popular now, offered by Xoom, MoneyGram, Western Union, Ria Money and many others.

Cash delivery is a bit slower, since this is usually scheduled and you’ll need to show your ID before you can collect.

Digital wallet

A digital wallet like PayPal or similar lets you receive money into an in-app balance, which you then withdraw to your bank or spend directly.

The downside here, is that unlike multi-currency accounts, digital wallets are not made to handle conversions, they are used for online payments (usually domestic).

This means you will need to pay hefty fees for automatic conversion to GBP (often worse than with your bank).

This option is decent if you’re receiving small payments for services, because this is not a personal international money transfer any more, this becomes an international payment which comes with its own set of separate fees.

But even then, I would advise against using PayPal, unless you need absolute convenience and don’t mind losing out on fees.

It’s also good for payments between these apps, for example sending GBP from PayPal to PayPal is quick, cheap, and easy.

Receive to card

Most money transfer companies can transfer funds directly to your debit card using the card number, through the Visa Direct or Mastercard Send networks, rather than to an account or for cash collection.

It's quick, often taking minutes, and simple for the sender, who needs only your card details.

But the transfer fees are usually a bit higher for the sender. This is because of the card processing fees involved, which can cost a few more pounds compared to bank transfer.

Cheapest ways to receive money

The cheapest way to receive money from abroad is almost always a multi-currency account or a bank deposit.

Receiving is free, and because you're paid in the sender's currency and converted to pounds yourself, you only pay a small conversion cost, usually close to the mid-market rate with minimal fees.

Bank deposits are also cheap and good, but the money is forced to convert into GBP, meaning you lose a bit of control as a receiver.

But, this only holds true if the sender uses a money transfer company, not a traditional bank.

If they are, and you need pounds to arrive into your account, then it's a great option too.

The cheapest company heavily depends on where the money is coming from, and how much, but here are a few examples:

Last updated at 17/09/2026

EUR GBP

Mid Market Rate €1 = £0.8568

Transfer Amount €1,200

1

Western Union

2

Instarem

3

Currencies Direct

You get after fees

Transfer fee

Markup

Cheaper than avg. bank

£1,028.16

€0.00

0.00%

£30.81

Visit

£1,026.96

€0.00

0.12%

£29.61

Visit

£1,023.12

€0.00

0.50%

£25.77

Visit

USD GBP

Mid Market Rate $1 = £0.7473

Transfer Amount $1,300

1

Instarem

2

Remitly

3

Revolut

You get after fees

Transfer fee

Markup

Cheaper than avg. bank

£969.80

$0.00

0.17%

£27.51

Visit

£969.80

$0.00

0.17%

£27.51

Visit

£967.28

$3.45

0.17%

£24.99

Visit

AUD GBP

Mid Market Rate $1 = £0.5312

Transfer Amount $1,900

1

Instarem

2

Remitly

3

Revolut

Orbit Remit

You get after fees

Transfer fee

Markup

Cheaper than avg. bank

£1,008.90

$0.00

0.04%

£29.87

Visit

£1,006.62

$0.00

0.27%

£27.59

Visit

£1,006.18

$2.85

0.15%

£27.15

Visit

£1,001.00

$0.00

0.84%

-

CAD GBP

Mid Market Rate $1 = £0.534

Transfer Amount $1,900

1

Instarem

2

Africhange

3

Koho

Remitbee

You get after fees

Transfer fee

Markup

Cheaper than avg. bank

£1,013.27

$0.00

0.13%

£29.12

Visit

£1,011.93

$6.00

0.26%

£24.67

Visit

£1,011.50

$6.17

-0.02%

£27.35

Visit

£1,009.66

$0.00

0.49%

-

AED GBP

Mid Market Rate AED 1 = £0.2035

Transfer Amount AED 4,900

1

OFX

2

Currencies Direct

3

Wise

You get after fees

Transfer fee

Markup

Cheaper than avg. bank

£990.59

AED 0.00

0.65%

£23.43

Visit

£990.29

AED 0.00

0.68%

£23.13

Visit

£988.45

AED 42.00

-0.01%

£21.29

Visit

NZD GBP

Mid Market Rate $1 = £0.4282

Transfer Amount $2,300

1

Revolut

2

Wise

3

Currencies Direct

Orbit Remit

You get after fees

Transfer fee

Markup

Cheaper than avg. bank

£981.90

$4.95

0.10%

£26.54

Visit

£981.51

$8.06

0.00%

£26.15

Visit

£979.57

$0.00

0.54%

£24.21

Visit

£985.23

$0.00

-0.04%

-

HKD GBP

Mid Market Rate $1 = £0.0952

Transfer Amount $10,600

1

Instarem

2

Wise

3

Currencies Direct

You get after fees

Transfer fee

Markup

Cheaper than avg. bank

£1,009.12

$0.00

0.04%

£29.88

Visit

£1,004.43

$53.78

0.04%

£25.19

Visit

£1,004.24

$0.00

0.57%

£25.00

Visit

SGD GBP

Mid Market Rate $1 = £0.5856

Transfer Amount $1,700

1

Instarem

2

Revolut

3

Wise

You get after fees

Transfer fee

Markup

Cheaper than avg. bank

£995.35

$0.00

0.02%

£29.65

Visit

£993.94

$2.55

0.00%

£28.24

Visit

£992.75

$4.72

0.00%

£27.05

Visit

Show moreShow less

*Providers update automatically based on this weeks cheapest companies. Rates and fees update weekly based on our live search comparisons.

If you're looking to send money abroad, I've recently wrote a guide on the cheapest ways to send money abroad from the UK.

Fastest ways to receive money

The fastest ways to receive money from abroad are cash pickup and payments straight to your debit card.

In both cases, money should arrive in a few minutes.

They're quick because there's no bank clearing in the way.

Cash pickup just needs the provider to confirm the money and release it at an agent counter, which is almost instant.

A card payment lands over the Visa or Mastercard network, which moves in near real time, the same rails a card refund uses.

If you ever dealt with card refunds you know this can take 3-5 days, but usually processed much faster. Same thing happens here, these can take a few days, but most of the time it is processed almost instantly.

The next fastest option are multi-currency accounts, and money paid in senders currency (for example euros).

Since you already have access to a EUR balance, they can just send it from their bank to your local EUR details, which will take a few minutes to arrive on average (but it can take 1-2 days since it uses the SEPA network).

The main downside here is that you’ll need to do the conversion later on to pounds.

Here are a few examples directly from our live comparisons for popular destinations from the UK:

*Based on our live comparisons. Speed and companies update weekly.

If you're looking for quick ways to send money from the UK, I've recently wrote a guide on instant money transfers.

Receiving large transfers

When receiving £50,000 or £100,000, the exchange rate is what increases the cost by a lot.

A markup of 1-2% is hundreds or thousands of pounds, far more than any fixed fee.

When it comes to these amounts, there are two things that matter to get the most for your money:

• Limits: some accounts cap how much you can receive at once

• Support: having someone to talk you through the process

Just like with the above, a high-street bank is the worst option here.

For example, HSBC adds around 3.06% on top of the exchange rate, that is a lot compared to someone like TorFX who takes 0.28%.

Speaking of currency brokers, for the largest transfers, a currency broker like Currencies Direct, TorFX or Halo Financial often fits best.

They handle big amounts as standard, give you an account manager to talk to, and can lock a rate so a moving market doesn't eat into the sum before it arrives.

Here's how much you can expect to receive in the UK for a big transfer from abroad via popular currency brokers:

Last updated at 17/09/2026

AED GBP

Mid Market Rate AED 1 = £0.2019

Transfer Amount AED 1,000,000

1

Key Currency

2

Regency FX

3

TorFx

4

OFX

You get after fees

Transfer fee

Markup

Cheaper than avg. bank

£201,610.13

AED 0.00

0.15%

£5,754.52

Visit

£201,509.17

AED 0.00

0.20%

£5,653.56

Visit

£201,408.22

AED 0.00

0.25%

£5,552.61

Visit

£200,903.44

AED 0.00

0.50%

£5,047.83

Visit

CAD GBP

Mid Market Rate $1 = £0.5326

Transfer Amount $100,000

1

Key Currency

2

Regency FX

3

TorFx

4

OFX

You get after fees

Transfer fee

Markup

Cheaper than avg. bank

£53,154.58

$0.00

0.20%

£1,491.31

Visit

£53,127.95

$0.00

0.25%

£1,464.68

Visit

£53,111.97

$0.00

0.28%

£1,448.70

Visit

£52,994.79

$0.00

0.50%

£1,331.52

Visit

AUD GBP

Mid Market Rate $1 = £0.5288

Transfer Amount $100,000

1

Key Currency

2

Regency FX

3

TorFx

4

OFX

You get after fees

Transfer fee

Markup

Cheaper than avg. bank

£52,773.64

$0.00

0.20%

£1,480.62

Visit

£52,747.20

$0.00

0.25%

£1,454.18

Visit

£52,731.34

$0.00

0.28%

£1,438.32

Visit

£52,615.00

$0.00

0.50%

£1,321.98

Visit

*Providers update automatically based on this weeks cheapest companies. Rates and fees update weekly based on our live search comparisons.

One thing to keep in mind, large or unexpected payments can trigger source-of-funds checks from your bank.

Make sure to contact them in advance and let them know that you’re expecting to receive a large payment from abroad.

Best for account coverage (currencies and local accounts)

Coverage comes down to two things:

• How many currencies you can be paid in

• How many of those give you local account details

Local details mean your own account number in the sender's country.

So an overseas payer sends to you like a domestic payment, not an international one.

The best options for this in my opinion are Wise, Revolut, and Currencies Direct.

The more of these you hold, the more currencies you can receive cheaply and directly, without a bank converting anything for you.

Multi-currency accounts offer the most local account options, meaning you can receive more currencies as a local.

One important thing to remember:

• Local details: you receive money like a local, in that currency over local networks (cheapest)

• Hold and convert only: the payment still arrives from abroad in that currency, but it’s using either SEPA or SWIFT. You then need to convert it to pounds yourself.

Many companies will mix the two saying “50+ currencies” but it means nothing unless you actually get the local details with each.

Best for businesses and sole traders

Incoming business payments have a completely different set of needs compared to the personal, whether it's freelance fees, client invoices, or sales revenue.

You'll often be paid in the currency you priced in, frequently US dollars, even from non-US clients.

You may be paid regularly by the same clients, and the money has to reconcile cleanly against your invoices and accounting.

This is where you’d want to receive all different currencies like a local, but then convert them to GBP for payout.

This is where business multi-currency accounts come in (also known as FX platforms). These give you the same benefits of a multi-currency account but with additional business features like software integrations.

For larger or less frequent sums, a big one-off contract, equipment, property, etc. a broker with a business expertise can beat an app on rate and give you much better support.

There are a few good options out there:

• If you’re just a small business, a Wise Business account is all you need.

• If you're an established SME, consider a more advanced FX platform like Airwallex.

• For one off large payment, a broker like TorFX or RegencyFX will give you the best support.

Fees for receiving money from abroad

When you're expecting money from abroad, it's natural to focus on the transfer, getting the funds from there to here.

When it comes to receiving international transfers, two things will impact how much you get:

• The exchange rate markup: a percentage added on top of the interbank rate

• The fee: a fixed or variable fee for the service provider

And to be clear, this only applies to getting international currency to GBP. This does not apply to the same currency transfers (since no conversion takes place).

If you’re expecting a small amount, fees will play a bigger role. For example receiving £250 and seeing £6 fee feels like a lot. So you want to use a provider with the lowest fees, such as Wise or Revolut.

For larger amounts, like £100,000, £6 doesn’t look like much. But this is where the markup can eat into it much more. A 3.06% markup from HSBC will cost you £3,060, which is a lot if you ask me.

This is where you want to use a currency broker, who can negotiate a better exchange rate with their suppliers.

Through MoneyTransfers.com you can get 0.2% markup with RegencyFX (£100k+ transfer), which is ~£200 in fees. That’s £2,860 more for you compared to using HSBC.

How the receiving methods affect the fees

Realistically, most people will be receiving small to medium sized transfers. This is where you want to keep the fees as low as possible.

One thing that impacts the fee is how you receive the money:

How to receive money from abroad

Most of the work comes from the sender, but your job is to give them the right details to not hold things up at your end:

• Agree on the provider and the method

• Share the right details for that method

• Wait, and ask for a reference to track it

• Check it's actually landed into your account

Receiving into a multi-currency account

The cheapest route is usually a multi-currency account, because you're paid in the sender's currency and convert to pounds yourself.

How long does it take to receive money from abroad

Anywhere from a few seconds to about five working days, and this largely depends on the method you choose:

As I’ve mentioned a few times already, the few things that impact the speed are:

The currency and network (rails)

Using local transfer rails is always fast, but as soon as it goes into SWIFT it can take a few days.

Verification checks

Receiving large amounts from abroad can trigger AML checks and additional verification checks.

Errors in your details

If the sender made a mistake, your payment can bounce and they’ll need to resend it again.

The best ways to avoid any delays is to:

• Use a reliable and reputable money transfer company (check our live comparisons)

• Tell your bank about incoming transfer if its large

• Use a multi-currency account, or bank account deposit as a receiving method

• Ensure the details you give to the sender are correct and match your ID

How much can you receive?

There's no legal limit on how much money you can receive from abroad into a UK account.

However, some money transfer companies do have limits on how much money can be sent and received.

But to be honest, most companies on our top list will have limits in 10s of millions so it’s rarely an issue.

Also, there may be a few additional checks if you’re receiving exceptionally large transfers, for example anti-money-laundering (AML) checks.

Your bank or provider may ask where the money came from and why you're receiving it, and can pause the payment until you answer.

This is part of every UK provider's regulatory obligations, overseen by the FCA, and is more of a routine thing for everyone's safety.

Tax on money received from abroad in the UK

Whether money you receive from abroad is taxable has nothing to do with the transfer itself and everything to do with what the money is.