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With Nomo, you can currently open an account in six different currencies.

These are:

GBP - Pound Sterling

USD - US Dollar

KWD - Kuwaiti Dinar

AED - United Arab Emirates Dirham

EUR - Euros

SAR - Saudi Riyal

The previous codes are no longer being used for GBP domestic or international payments. You should update your beneficiary list to use the new SWIFT/BIC (TCCLGB3L) for international transfers with Nomo.

These details have changed because we have switched multi-currency partners in line with our multi-currency launch.

No. With our multi-currency accounts, you can use the same IBAN across all your currency accounts for receiving international transfers. The sending bank must be able to support sending multiple currencies to the same IBAN, otherwise it might be received in your Nomo GBP Account by default.

You can add or receive money by bank transfer. To add money, go to the account you wish to transfer into and select ‘Add money’, then you need to share your account details. For UK transfers, you’ll share your sort code and account number to the sender, and for international transfers, you’ll share your IBAN and SWIFT/BIC to the sender.

It is important that you make sure you have the currency account opened before receiving money into your account (eg. EUR), to avoid delays or payments being rejected and returned to the sender.

We don't charge a separate currency exchange fee, as the exchange rate is set by our multi-currency provider. However, the exchange rate shown to you may include a margin, which is how we cover the cost of providing the service. The rate you see in the app already includes this margin, and you'll see the exact amount you'll receive before confirming the exchange. Then you’ll have the option to accept the exchange or to cancel.

It’s free to transfer GBP (£) to another UK account.

For international transfers, we charge a small fee depending on the currency, destination country and payment type. This fee will be quoted to you before making the payment.

Please refer to our Fees page.

Before every currency exchange you make, we will show you an expected exchange rate for the transfer. The exact rate will be the rate at the time of conversion.

You can find the final applied exchange rate in your statements and transaction list, which you can view by heading to the Profile tab in the Nomo app and clicking on Statements & Documents and select Bank statements. Choose the account you wish to view the statement for, and select the required month and year.

The information you require for the transfer will differ depending on the currency you want to send.

1. Navigate to the currency account you would like to send from

2. Select ‘Pay & Transfer’

3. Click ‘International transfers via Nomo’

4. Select the recipient’s country

5. Enter the amount you would like to send, and add a reference if you wish

6. Add the recipient by adding their details, including:

   • Account type (personal or business)

   • First, middle and last names, as they appear on the recipient’s account

   • The recipient’s address

   • The recipient’s SWIFT/BIC and IBAN/account numbers

7. Confirm the transfer

A local routing transfer uses local payment networks, such as ACH, Faster Payments and SEPA, to send money. By using local payment routes in the destination country, international transfers can often be processed faster and at a more cost-effective way.

SEPA stands for Single Euro Payments Area, which is an initiative to make payments and transfers simple and consistent within and between EU member countries.

SEPA counts 36 countries as members: Austria, Belgium, Bulgaria, Cyprus, Croatia, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Republic of Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovenia, Slovakia, Spain and Sweden, along with non-EU members Iceland, Norway, Liechtenstein, Switzerland, Andorra, Vatican City, Monaco, San Marino and the UK.

Most SEPA transfers are settled within one business day of being initiated.

SWIFT (Society for Worldwide Interbank Financial Telecommunications) is the leading system for transferring payments securely around the world, in multiple currencies.

This type of payment goes through the international SWIFT network and is much easier to track than local routing transfers.

When you send money via SWIFT, the payment may pass through other banks before reaching the recipient. These banks may charge fees, so the recipient could receive less than the amount sent.

There are two fee options for SWIFT transfers:

1. Shared (SHA): The fee is shared between you, the sender, and the recipient. You pay Nomo’s transfer fee, and the recipient pays the intermediary bank fees and any fees imposed by their own bank. The fees charged by the intermediary bank are taken out of the payment amount. Because of this, the amount the recipient receives in their bank account may not be the full amount expected.

2. Ours (OUR): As the sender, you pay all fees for the transfer, including the fees charged by the intermediary and recipient bank. These fees are not taken out of the payment amount. The recipient gets the full amount of the payment, but the sender will have to pay a higher fee in total to cover the costs of the intermediary bank.