Frequently asked questions
Sometimes the banks in the middle and at the end will take a charge, so it seems that not all the money has been sent but we try our best to make sure all your money gets to where it needs to by covering correspondent and receiving charges where we can.
Opening an account online should only take a few minutes and we can usually get you up and running within an hour (we'll need to verify your identity).
Over the phone shouldn't take longer than 10 minutes.
Business clients and online sellers can open an account online too and our team will get you sorted out as fast as they can.
We are authorised and regulated by the FCA, and are required to hold sufficient capital to protect our business and further safeguard our customers. We maintain high levels of capital and have a 3A2 credit rating from Dun and Bradstreet. If you'd like a bank reference for us please give us a call, we'd be happy to oblige. You can find out more about where the companies under the World First Group are registered and regulated here.
You'll find full information on our security page, where you can also download our audited financial statements.
If it's sterling, US dollars or euros then we'll usually make a same-day payment when we receive your funds. This will arrive fully cleared with your bank the same day though they may not credit your account until the next business day.
With other currencies, we send your payment out on the date agreed but you'll need to allow one to four days for your funds to reach the recipient. The length of time depends on the currency. For example for Swedish kroner, it will be 1 day; for East Caribbean Dollars it could be 4 days. Transfers to Australia and New Zealand will usually clear within 24 hours.
If you're sending USD to another country (not the US) then you should allow up to 4 days for it to clear.
If you need funds to arrive by a particular date please call us for advice and accurate information for the country you are sending funds to.
In rare circumstances delays may occur. WorldFirst will do everything reasonably possible to ensure that funds arrive on time but is not liable for delays caused by intermediary or receiving banks.
Please note that the funds will arrive in the beneficiary's account from WorldFirst, rather than your name. There will be a reference which starts with WFPAY followed by a sequence of numbers.
- Europe - IBAN and SWIFT
- Canada - account number, SWIFT and Transit code
- Australia - account number, SWIFT or BSB code
- New Zealand - account number, 6 digit bank code and SWIFT
- USA - account number, ABA routing number or SWIFT
- UK - account number and sort code or SWIFT and IBAN
- India - account number, SWIFT and IFSC number, reason for transfer
- China - account number, SWIFT
- Mexico - account number, (Clabe no). and SWIFT
Please call us for information on other countries.
Once you've booked your trade, you'll receive an email confirmation which includes our client bank account details. It'll also tell you when you need to send the money to us by.
When you book your trade, you will be given a 'funds in' date based on the method you chose for sending funds to us. You need to make sure that your funds are with us and cleared by that date.
You can send your money to us by either of these 2 methods:
- Debit Card: If you're a private client you can use your debit card to send us your money. This is one of the fastest ways you can pay.
- Online/Telephone Banking (Faster Payment): This usually arrives with us the same day or the following morning.
- BACS: A BACS payment takes two working days for funds to arrive. They will be cleared funds on the third day, which is when your payment will be able to leave WorldFirst.
- Direct Debit: If you're sending us GBP funds, we can collect them by Direct Debit. Talk to us if you'd like to set one up. Once this is done, we arrange collection of the funds and it is similar to a BACS payment in terms of clearing times.
- CHAPS: A CHAPS payment is a same-day payment and will arrive with us on the day you send it.
We can only send payments once your funds are with us and have cleared, so if you were to send funds to us via a slower payment method (such as a BACS, for example), your payment will take longer to leave. If you send your funds in via CHAPS or Faster Payment, your payment will leave sooner.
You can send funds to WorldFirst at any time as long as they are cleared by the date of the outgoing payment on your trade confirmation. If your funds aren't yet with us, your payment won't leave. For same day payment your money need to be with us by this time:
We'll make the payment to your beneficiary on the date we agree when you book your trade. Your beneficiary might not be able to access the money right away as their bank might take some time to clear the funds for them.
Please note that the funds will arrive in the beneficiary's account from WorldFirst, rather than your name. There will be a reference which starts with WFPAY followed by a sequence of numbers.
As we are making the payment on your behalf, the funds will arrive in your beneficiary's account from WorldFirst and not in your name. There will also be a reference which starts with WFPAY and followed by a sequence of numbers. Make sure to let your recipient know just in case they're expecting to see the money arrive in your name.
Yes, you can book a same-day transfer for a large number of currencies and the earlier you book your trade, the better. To make a same-day outgoing payment in EUR, USD or GBP, you will need to have your cleared funds with us by the times below (given in local UK time)
- EUR payments: 14:00 GMT
- GBP payments: 15:00 GMT
- USD payments: 15:00 GMT
This doesn't often happen, but if your funds don't arrive within the expected timescale, then let us know as soon as possible so that we can set up an investigation with our bank. We will continue to liaise with our bank until the issue has been resolved and the beneficiary has received the funds, and we promise to keep you informed every step of the way.
Don't forget: the payment will show as coming from WorldFirst, and not your name - so keep an eye out for WorldFirst on your statement. The payment will have a reference that starts with WFPAY followed by a sequence of numbers.