A UK customer should be able to pay a GBP invoice using account number and sort code, without arranging an international wire. A local GBP account gives an international company access to the payment rails UK businesses already use.
What are UK local payment rails?
The UK has several sterling payment systems. The two most relevant for international companies are Faster Payments and CHAPS.
Faster Payments is commonly used for everyday GBP transfers. Banks and payment providers submit payments through the UK system, often making funds available quickly. Individual providers set their own transaction limits and security checks.
CHAPS is the UK's high-value, same-day sterling payment system. The Bank of England operates CHAPS through its real-time gross settlement infrastructure. Payments accepted before the provider's cut-off are intended to settle on the same business day.
Both are domestic GBP rails. SWIFT remains relevant when sterling moves through an international correspondent route or when the beneficiary cannot receive through a UK local account.
Why companies use Faster Payments and CHAPS
UK customers pay through a familiar flow
The payer uses the beneficiary name, sort code, account number, amount, and reference. It does not need intermediary bank instructions for a local GBP payment.
Faster Payments works for regular operating payments
Companies use it for customer receipts, supplier invoices, refunds, and other routine GBP transfers. Delivery can be fast, but it is not a promise that every payment will arrive instantly. Provider limits, fraud controls, incorrect details, or compliance review may delay it.
CHAPS supports high-value and time-sensitive GBP payments
CHAPS settles payments individually and on the same value date when submitted within the operating window. It is commonly used when the amount is high or same-day finality matters. The sending provider may charge a separate CHAPS fee and apply an earlier customer cut-off than the system itself.
| Payment need | Better starting point |
|---|---|
| Routine GBP customer or supplier payment | Faster Payments |
| High-value, time-sensitive GBP transfer | CHAPS |
| Recurring bulk credits or direct debits | Bacs, where supported |
| International route without UK local details | SWIFT |
UK account details are required
A company needs UK GBP account details connected to a provider that participates directly or indirectly in the relevant payment system. The usual details are a beneficiary name, sort code, and account number.
HEVN can assess local GBP account details for an approved international company through an available UK banking or payment partner. The partner provides the regulated payment service and account details. HEVN manages the application, access, payment workflow, and records.
Partner availability depends on incorporation, ownership, activity, expected counterparties, and payment volume. HEVN is not a bank and cannot promise a specific UK institution before review.
How to open a GBP account in HEVN
- Sign in to HEVN.
- Open Accounts.
- Select Open account.
- Choose GBP.
- Select Faster Payments / CHAPS.
- Review the available UK partner, account type, timing, and fees.
- Click Open GBP account.
- Submit the requested company and payment information.
If a UK local partner is not shown, contact HEVN so the team can review the company and expected GBP flow.
Documents to prepare
- incorporation certificate and current company extract
- articles of association or equivalent
- shareholder, director, and UBO information
- IDs for owners and authorised users
- company website and business description
- UK customer or supplier invoices
- signed contracts supporting expected GBP transfers
- recent business bank statement
- expected monthly volume and typical transaction size
- source-of-funds evidence where required
For a high-value CHAPS payment, prepare the sender, beneficiary, amount, payment purpose, invoice, and signed contract before the transfer.
Move money between HEVN rails
The company's approved routes are connected inside HEVN. A company can receive USD through ACH, convert the required amount to GBP, and pay a UK supplier through its local GBP details. It can also receive GBP locally and withdraw through another approved company route.
The deposit, conversion, and GBP transfer remain separate transactions with separate fees, cut-offs, and compliance checks.
Use the beneficiary name, sort code, and account number exactly as shown in HEVN. Include an invoice or contract reference that explains the payment.
Need help choosing a UK account route? Book a call with the HEVN team.
