Payment and Foreign Exchange Processing
UK Payments, SEPA Credit Transfer, Same Currency International Payments and Same Currency Inter Account Transfers
The table below sets out the cut off times for providing payment instructions through SVB Online Services to Silicon Valley Bank UK. Authorised payments are processed on business days only (Monday to Friday, excluding UK Bank Holidays). Any payments submitted after the cut off time, or on a non-business day, will be processed on the next available business day.
|PAYMENT TYPE||CURRENCY||CUT OFF TIME||VALUE DATE|
|BACS||GBP||4:00pm||For three day value|
|Faster Payments||GBP||4:30pm||Same day|
|SEPA Credit Transfer||EUR||11:00am||Same day|
|Inter Account Transfer||1 (Same currency)||All||5:00pm||Same day|
|International Payments (Same currency)||All||5:00pm||Varies depending on the destination country and intermediary/beneficiary bank|
Foreign Exchange, Cross Currency International Payments and Cross Currency Inter Account Transfers1
The cut off time for providing foreign exchange, cross currency international payment and cross currency inter account transfer instructions through SVB Online Services is 5:00pm.
The value date will be determined using the earlier value date for the two currencies involved. Examples can be found below. In addition, the value date for cross currency international payments varies depending on the destination country and intermediary/beneficiary bank.
|CURRENCY||CUT OFF TIME||VALUE DATE|
|Canadian Dollar (CAD)
Swiss Franc (CHF)
Danish Krone (DKK)
British Pound (GBP)
Norwegian Krone (NOK)
Swedish Krona (SEK)
US Dollar (USD)
South African Rand (ZAR)
Israeli Shekel (ILS)
Mexican Peso (MXN)
|Australian Dollar (AUD)
Hong Kong Dollar (HKD)
Hungarian Forint (HUF)
Japanese Yen (JPY)
New Zealand Dollar (NZD)
Polish Zloty (PLN)
Singapore Dollar (SGD)
Chinese Yuan Renminbi (CNH)
Czech Koruna (CZK)
Romanian Leu (RON)
|All Other Currencies||5:00pm||Two day value|
Value dates for Foreign Exchange, Cross Currency International Payments and Cross Currency Inter Account Transfers1
The value date will be determined using the earlier value date for the two currencies involved.
- A foreign exchange trade between EUR and USD submitted and approved before 2:00pm on a business day will have same day value.
- A foreign exchange trade between EUR and USD submitted and approved after after 2:00pm on a business day will have value the next day.