Read our guide on adding, deleting and managing recipients.
In this article, we’ll cover:
- What details do I need to send money to someone?
- I want to add a new recipient
- I want to edit an existing recipient's details
- Deleting a recipient
- What are recipient nicknames for?
- What is a BIC/SWIFT code and why do I need one?
- What is an IBAN?
What details do I need to send money to someone?
First, identify whether you’ve chosen to deliver your money by bank transfer or by cash pickup.
For cash pickup, you should include a person's first and last name and the location you want to send the money to.
For bank transfer, you should include a person's first and last name and bank account details. For a business transfer you need the business name and bank details.
You'll also need to include international transfer details such as IBAN, SWIFT or similar country codes.
But don’t worry, it's all explained as you set up your money transfer.
Adding a new recipient
| Important: Please avoid using symbols and accents when setting up your recipient details. |
There are a few simple steps you can follow to add a new recipient to your account:
- Find Recipients in the side menu of the website, or by selecting More from the bottom toolbar in the app.
- Click Add Recipient and select whether you’re sending money to yourself, someone else or a business.
- Fill in your recipient details, taking care to spell names correctly and enter accurate information to ensure there are no delays with your money transfer.
- Hit Save and you’ll receive an email to confirm the new recipient has been added.
Editing an existing recipient
| Please note: If you’re trying to edit a recipient’s details because you’ve noticed you made an error when creating a confirmed bank/wire transfer, changing it here will not correct the issue. You’ll need to contact us immediately if you need to edit an active bank/wire transfer. For cash pickup, you can edit the recipient details up until they have collected the money. |
There are a few simple steps you can follow to make changes to one of your existing recipients:
- Find Recipients in the side menu of the website, or by selecting More from the bottom toolbar in the app.
- Select the person or business you want to make changes to.
- Click Edit on the app or the Pencil icon on the website to begin amending their details.
- Take care to spell names correctly and enter accurate information to ensure there are no delays with your money transfer.
- Hit Save when you’re finished.
Deleting a recipient
There are a few simple steps you can follow to delete a recipient:
- Find Recipients in the side menu of the website, or by selecting More from the bottom toolbar in the app.
- You’ll then be presented with a list of your current recipients.
- Select the person or business you want to remove and open their details.
- Click the Bin icon on the website, or tap Edit on the app and scroll down to the foot of the page to select Delete.
- You’ll be asked to confirm you want to delete that entry before completing the process.
What are recipient nicknames for?
You can give any of your recipients a nickname when creating or editing them.
This is an optional feature and not mandatory when sending money with Xe. Nicknames are useful for highlighting accounts or the reasons for making transfers to someone or a business.
What is a BIC/SWIFT code and why do I need one?
To send or receive money internationally, your bank or any other financial institution must know where to send the money. BIC/SWIFT codes are the key to this.
BIC stands for Bank Identifier Code, and SWIFT stands for the Society for Worldwide Interbank Financial Telecommunications. Sometimes, people use the terms “BIC” and “SWIFT” interchangeably.
What does a BIC/SWIFT code look like?
SWIFT/BIC codes contain 8-11 characters that identify your city, country, bank, and the branch of your bank. The code may look something like this:
AAAABBCCXXX
Looks complicated? Don't worry, here's an explanation of the format:
AAAA: 4-letter bank code that’s usually a shortened version of your bank’s name.
BB: 2-letter country code that represents the country in which the bank’s located.
CC: 2-character location code, pointing to the place where the bank’s head office is situated. It’s made up of letters and numbers.
XXX: 3-digit branch code that specifies a particular branch of the bank, usually the bank’s headquarters. These last 3 digits are optional, though.
What is the BIC/SWIFT code for my bank?
Here are some examples of what your bank’s code may be:
- Barclays UK: BARCGB22XXX
- Bank of India: BKIDINBBXXX
- Bank of America: BOFAUS3N
- HSBC UK: HBUKGB4BXXX
| Please note: The above examples are purely for reference purposes. Please confirm with your recipient what their BIC/SWIFT code is. |
What is an IBAN?
IBAN stands for International Bank Account Number. It is a standardised format for displaying a user’s bank account information, specifically used when transferring money between different countries.
What is it used for?
The IBAN aims to reduce errors and improve validation of cross-border payments.
What does it look like?
It can be up to 34 alphanumeric characters and contains the following:
- A two-digit country code
- Two check digits (which validate the existence of an account)
- A bank account number (which contains specific details about both the bank and user account)
For example, a UK IBAN number could look like this:
GB29 NWBK 6016 1331 9268 19
This contains the country code, the bank identifier, the branch identifier and the account number.
How do I find my IBAN?
The money transfer recipient should get this information from their bank since it generates the IBAN.
Both the IBAN and BIC can usually be found on a bank statement.
You can check your IBAN by clicking on this link.
Do I need an IBAN to send money?
An IBAN and BIC are required to send money to countries that have an approved IBAN format.
Some payment providers will request the sender provides both pieces of information whereas others will only ask for an IBAN because they can calculate the BIC on the sender’s behalf.