Why Your Payment Setup Matters
How you receive payment is not a secondary consideration. A slow, unreliable, or administratively complicated payment process creates friction for your client and signals operational immaturity. UK product companies working with international contractors expect payment to be as smooth as paying a UK-based supplier, no chasing, no unclear bank details, no transfers bouncing back.
Setting up correctly before your first invoice means payments arrive on time, your client has no reason to question your professionalism, and the relationship starts without administrative friction.
Wise (formerly TransferWise): The Primary Option
Wise is the most widely used international payment method for remote contractors receiving GBP from UK companies. Wise provides a real UK bank account number and sort code to non-UK residents, this means your UK client pays you as they would a UK supplier, using a standard domestic bank transfer. No international transfer complexity on their side.
On your side, Wise converts the incoming GBP to your local currency at the mid-market exchange rate with a small transparent fee, typically 0.3–1.5% depending on the currency pair. Transfers from UK bank accounts to Wise typically arrive within the same business day. Wise supports withdrawals to local bank accounts in Ukraine, Pakistan, Serbia, Romania, Georgia, and most other markets.
- Open a Wise account at wise.com, personal accounts work for contractors. Business accounts provide additional invoicing features.
- Complete identity verification, Wise requires photo ID and proof of address.
- Enable your GBP balance and get your UK account number and sort code from the Wise dashboard.
- Provide this account number and sort code to your UK client exactly as you would provide UK bank details.
SWIFT Transfers: Direct Bank to Bank
SWIFT transfers are the traditional international bank transfer method and remain standard for larger enterprise clients or clients using accounting software that does not integrate with Wise. Your bank's SWIFT/BIC code and your IBAN (or local account number format) are required.
SWIFT transfers typically take 1–3 business days and carry fees on both the sending and receiving side. Wise is generally preferable for regular recurring payments because fees are lower and speed is faster. SWIFT is appropriate when the paying company's accounts payable system requires it.
Always confirm with your bank whether your account is enabled to receive international SWIFT transfers before providing your details to a client. Some standard current accounts require international transfers to be enabled separately.
Payoneer: The Alternative
Payoneer is a payment platform widely used in markets where Wise availability or local bank infrastructure is less developed. Payoneer provides a virtual US and EU bank account for receiving payments and supports local withdrawal in most countries. If you already use Payoneer for other freelance platforms, it is a viable option.
For UK clients, Payoneer is less familiar than a standard bank transfer. If using Payoneer, share your Payoneer-provided GBP receiving account details (if available for your country) rather than asking your client to initiate a Payoneer-specific transfer, this keeps the process straightforward on their side.
What Your UK Client Needs From You
UK companies processing contractor payments typically require the following information before making the first payment. Have these ready before you send your first invoice:
- Full legal name (as it appears on your bank account or Wise account)
- Bank name and address (or Wise's UK banking partner details)
- Account number and sort code (for Wise GBP account) or IBAN and SWIFT/BIC (for direct bank transfer)
- Your address for invoicing purposes
- Tax identification number where required by your client's finance team (varies by client)
Know what a correct invoice contains, even where it is prepared for you: your name and address, the paying company's name and address, an invoice number, the invoice date, a description of the services, the amount, and your bank details. Under a managed engagement the invoice is usually prepared and issued in your name rather than raised by you, so your job is to check it is right and that your own registration and bank details behind it are current.
Tax and Record-Keeping
This guide does not constitute tax advice. Your tax obligations on foreign-source income depend on your country of residence and individual circumstances. Consult a local accountant before beginning international remote work, the rules vary significantly between countries and change periodically.
Regardless of local tax treatment, maintain clean records from day one: numbered invoices, payment confirmations for every transfer received, and a simple spreadsheet tracking income by month and currency. UK clients may request invoice copies for their own accounts; organised records mean you can respond promptly.