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Handling money overseas

If you buy or sell items internationally, the common way to pay for them is through wire transfers, done at your local bank. Some people use the term "T/T" (for telegraphic transfer) - but it's all the same thing. Your bank (or your overseas customer/vendor) needs the following:
  • Swift number - the bank's ID
  • Bank name
  • Routing number for the bank account Bank account number
  • Currency being sent or received (i.e. Euros, dollars, etc)
  • Account Holder's name and address
  • Bank's IBAN number if you are dealing with Euros
If you need to look up a Swift number (also called a BIC - bank identifier code), go to http://www.swift.com. Select BIC directory and enter the bank name.

If you need to look up an IBAN number, go to http://www.ecbs.org/iban.htm and click on Country Information