Foreign Currency Payments
Foreign currency payments to suppliers can be made online using the Santander International Payments system.
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The University generally makes payments to suppliers in UK pounds sterling (GBP) to UK bank accounts except if there are operational reasons for a payment to be made in a foreign currency or sent to a foreign bank account. These types of payments are normally made weekly. Payment is via Santander and typical transactions include:
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payments for overseas conferences and courses
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payments to overseas examiners
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refunds made to overseas students
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payments to foreign suppliers
The two main types of transactions used to pay overseas suppliers are:
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Bank drafts - This is the term for cheques being sent to a foreign country, drawn in a foreign currency.
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Electronic funds transfers - This term relates to the transfer of monies directly into a foreign supplier's bank account. This is a faster but much more expensive method of payment and should be used when the payment is required urgently.
If you have a query about a foreign currency transaction made please email Finance.Helpline@ed.ac.uk quoting the online payment reference
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