To ensure your employees are paid correctly, you need to select the correct Routing Type for their bank account. The routing type depends on whether the transaction is Local or International, as explained below:
Local Transaction: Use this when the beneficiary’s bank is in the same country as the currency being sent.
Example: Sending US Dollars (USD) to a bank in the USA.International Transaction: Use this when the beneficiary’s bank is in a different country than the currency being sent.
Example: Sending US Dollars (USD) to a bank in Hong Kong.
The specific routing type (e.g., Sort Code, SWIFT Code, etc.) you need to select will vary depending on the currency and whether the transaction is local or international. A detailed breakdown of routing types for each scenario is provided in the table below.
If you're unsure which routing type to use, refer to the table or consult [email protected] for guidance.
Currency | Routing Type - Local | Routing Type - International |
USD | ABA code | Swift code |
GBP | Sort code | Swift code |
Other Currencies | Swift code | Swift code |