Send business payments to Gibraltar
We don’t pay out in GIP. Payments to Gibraltar go in US dollars or euros by SWIFT, and the recipient’s bank converts them if their account is in GIP.
Quick facts
- Local currency
- GIP · Gibraltar Pound
- Pay out in GIP?
- No — pay in USD or EUR by SWIFT
- Route
- USD · SWIFT / EUR · SEPA
- Typical timing
- SWIFT: typically 1 to 3 working days · SEPA: same or next working day (typical, not guaranteed)
- Account details
- IBAN, 23 characters, starts GI · Format and example
- SWIFT codes
- 14 banks in our directory
What you need from your supplier
The beneficiary’s full legal name
Exactly as their bank holds it: the company name for a business, not a trading name.
Their address
Street, town and country.
IBAN (23 characters, starting GI)
Check it with our IBAN checker before the first payment: the check digits catch almost every typo.
The bank’s SWIFT/BIC code
8 or 11 characters. Not needed for a euro payment by SEPA.
What the payment is for
An invoice number or a short description. Some payments need a supporting document such as the invoice.
How it works
- 01
Add your beneficiary in Gibraltar
Enter the details above once and save them. Every later payment to the same supplier, employee or partner starts from the saved record.
- 02
Pay in USD or EUR
Pay from a balance you hold, or convert as part of the payment. The fee, the rate and the amount the beneficiary receives are shown before you confirm.
- 03
Approve and send by SWIFT
A second approver can sign off if your policy requires it. You can download a confirmation of the payment to forward to the beneficiary.
Largest banks in Gibraltar
Fees
- SEPA payment out
- €0.50
- SWIFT payment out
- 0.25%, min €25.00
- Currency conversion
- 0.5%
Figures from the MENA plan. Every fee is shown before you confirm a payment, and banks in a SWIFT chain may deduct charges of their own. All plans and fees →
Sending money to Gibraltar: questions
- How long does a business payment to Gibraltar take?
- A euro payment by SEPA typically arrives the same or the next working day. A SWIFT payment typically takes 1 to 3 working days, depending on the currency and the banks in the chain. Payments instructed after the daily cut-off, at a weekend or on a holiday start on the next working day. Timings are typical, not guaranteed; the payment calendar shows value dates.
- How much does it cost to send money to Gibraltar?
- On the MENA plan a SEPA payment out costs €0.50. A SWIFT payment out costs 0.25%, min €25.00, and banks in the SWIFT chain may deduct charges of their own. Converting currency costs 0.5%. Every fee and the rate are shown before you confirm.
- Which currency should I pay a supplier in Gibraltar in?
- GIP isn’t one of our payout currencies, so pay in US dollars or euros. If the supplier’s account is held in GIP, their bank converts the payment at its own rate; ask which currency their account is in before you send.
- What details do I need from the supplier?
- The beneficiary’s name and address, their IBAN (23 characters, starting GI) and their bank’s SWIFT/BIC code.
- Will I need to send documents?
- Sometimes. Depending on the destination and the amount, we may ask for an invoice or another supporting document before a payment is released, and the recipient’s bank may ask your supplier for the same. Keeping the invoice number in the payment reference helps both.
- Can a business based in Gibraltar open an account?
- Yes, Gibraltar is not on our list of markets we can’t serve, so a business based there can apply, subject to KYC/KYB review. Onboarding hasn’t opened yet: join the waiting list and we’ll contact you when it does.
Related
Other destinations in Europe and Central Asia
Paying suppliers in Gibraltar?
Onboarding hasn’t opened yet. Join the waiting list and we’ll contact you when it does.