Best account for receiving international payments

So it looks like I’m going to get paid some money each month in NOK and I therefore need an IBAN.

Monzo still don’t support this and transferwise is not sustainable now it’s regular. So who can I sign up with that requires minimal time and effort and will cover my needs?

If that’s all you want, I started a Starling application after lunch and had the account up and running by 6.


Why not? (I haven’t used TransferWise much)


HSBC is probably the easiest. As long as you have a current account open with them, you can have a dedicated NOK account for free and can send and receive money in NOK with it.

Free and instant transfers of NOK back and forth to your current account, though at HSBCs exchange rate. Not awful but not Google’s rate.

Safety of an actual bank that way too, perhaps Revolut if you’re into something more techy.


HSBC are a nightmare to set up, to get app banking etc.
Probably easier to get a Starling account.


I’ve not looked into it recently, but aren’t the Starling and TransferWise fees similar?

I’d be interested to hear about the drawbacks of TransferWise, but if a Norway-based account is available in the app, it feels like that’s the best solution.


Barclays. If you don’t already have an account with them, the onboarding process via the app is very similar to the likes of starling and Monzo these days.

They’ve been my saving grace for dealing with multi currency transactions in the era of fintechs, and the fees are competitive too.

HSBC is another popular choice in these situations, though I don’t believe their on boarding is quite as easy.

If I were you though, it would require an exceptionally good justification to not use TransferWise these days.

A word of caution with IBANS though, discrimination does occur, particularly from newer banks. Some businesses and EU banks just don’t like them or won’t validate them. They’re not really supposed to do that, but it happens, too frequently, for my tastes. So if TransferWise doesn’t cut it, the safest bet will be a more traditional bank over Starling, or Revolut for example.


Thanks all! :blush:

I just want people to be able to pay straight into my account without having to use a 3rd party. If the fees are better then that’s a bonus too.

  • So looking at Starling they charge 2% and use their own exchange rate :confused:
  • HSBC is a flat £8
  • Barclays is flat £6

Starling is more expensive than I expected. I was hoping they would come out top because it’s super easy to open an account :pensive:

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When I mentioned TransferWise, I meant their app. They provide accounts, so I wasn’t thinking of you using it via Monzo. Although if you did want to move the money to your Monzo account there would always be an extra step.

Alas it seems to be moot, as TransferWise only offers the following accounts:


Are you sure?

I regularly transfer between my accounts with HSBC in other countries and even different currencies and I’ve never been charged a fee.

Not 100%. I Googled and got it from this page:

HSBC UK receiving fees

Foreign Currency Payments
Payment type Charge
Receiving Money in EURO from the EEA £0
Receiving money in a foreign currency other than Euro or Euro from outside the EEA (£100 or more)  £8
Receiving money in a foreign currency other than Euro or Euro from outside the EEA (under £100)  £0

They supported NOK bank details in the past as part of a trial. Looks like they are intending to add long term support at some point:


That would definitely (I think) solve Ordog’s problem!


That sounds a bit silly. In fairness come to think about it I don’t think I’ve ever received money into the account like that because I have accounts set up in the country (the US for example) and then transfer money to my UK currency accounts.

I think if it’s HSBC -> HSBC there’s no fee, so that’s how I’ve avoided any charges.

Is Revolut the perfect solution instead then? An IBAN and as far as I’m aware minimal fees when exchanging even large amounts. It seems with Revolut you can use your personal IBAN for a range of currencies and the IBAN remains the same. If you don’t have NOK enabled I assume it’d just automatically exchange into your default currency (£).


Their rate is basically the same as Google. Seems a pretty good deal and it’s free up to £1000 and 0.5% fee on top of that afterwards.


Oooo let me look into Revolt - that does seem like a good deal!

Hopefully Transferwise hurry up and support the currency in the mean time.

Hi there, I regularly receive payments into my Monzo in NOK and DKK and have simply just generated the IBAN etc online - never had any problems and monies are usually in my account within 24hrs

I’m failing hard.

Revoluts help section is terrible, I can only find the fees for business accounts if I Google it :pensive:

Hi Morts :wave:

Things always go wrong with me, so it’s likely to fail knowing my luck :laughing: I’d rather set something up where I can guarantee it is going to arrive to avoid any embarrassment going back to the sender.

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Do you know what the fees / exchange rate is like, at all?

There are no fees per se for what you describe using it for.

The only fees you’ll incur is when transferring money yourself to somewhere internationally (1 free; rest 50p), transfer to your own bank account is always free domestically, exchanging between currencies £1000 free then 0.5%

Other than that you might need to pay £5 for initial card delivery if you want one.