International Payment Service

Have your dividends paid directly into your bank account.

The International Payment Service is available to holders who receive individual dividend or interest payments of £10 or more.
Payments of less than £10 and more than £100,000 will be paid by sterling cheque, unless otherwise agreed. We will pay your dividends or interest payments direct into your bank account in the currencies listed under countries.

Payments must be paid into an account in the same currency eg, US Dollars can only be paid into a US Dollar account - US Dollars, cannot be paid into a Swedish Krona account. The account to where payment is to be received must be domiciled in the country of the currency you have chosen eg, a US Dollar bank account must be domiciled in the USA, US Dollars cannot be paid into a US Dollar account that is domiciled in the United Kingdom.

The company in which you receive payment of dividends and/or interest in respect of the shares or other securities must participate in the International Payment Service - companies domiciled in Ireland do not participate in the service.

The service is not available to you if you make a scrip dividend election or participate in a dividend reinvestment plan (DRIP), a dividend reinvestment scheme (DRIS) or make a scrip dividend election or where you receive payments through CREST.

Existing mandates: If you decide to participate in the Service you will be deemed to have agreed that any existing mandates which you may have given to us in respect of your shares or other securities (including without limitation, any currency election mandate in respect of the payment of dividends by the Company), or to us in respect of any holdings with them, will be replaced by the new Application and Account Details Form in respect of the Service.

Direct to bank

You are now able to elect for your sterling dividend payments to be converted into your chosen currency. We will then pay the funds direct into your bank account.

The benefits:

* Fees will differ amongst banks. You should compare the fees charged by your local bank before registering for the International Payment Service.

Fees

Various fees apply for the different payment types, as described below:

Direct payment

MUFG Corporate Markets will charge a £5 administration fee (per transaction) to convert your payment into your chosen currency and make a direct payment into your bank account. For most shareholders living outside the UK, this will generally be cheaper than the fees charged by your local bank to convert your sterling payment cheque into your local currency. * You should also check with your bank to see if they will charge a fee for receiving this payment.

Exchange rate

Your payment will be converted into your chosen currency using the "IPS Exchange Rate". The "IPS Exchange Rate" means the Foreign Exchange (FX) spot rate for buying or selling (as appropriate) the relevant currencies as provided by MUFG Corporate Markets' FX payments supplier at the time of the relevant transaction minus a margin spread of up to 3%.

* Fees will differ amongst banks. You should compare the fees charged by your local bank before registering for the International Payment Service

How to apply

Where a company in which you hold shares or other securities provides a Share Portal, and if you are a registered user of this Share Portal, you may submit details of your international mandate online (this option is not available if you are a joint holder of shares in the company).

If you would rather receive an application pack containing more information regarding the International Payments Service, including full terms and conditions and an international mandate please use the contact form below. 

Please note, we may require you to provide proof that you are a named holder on the bank account.