What is an intermediary bank?
An intermediary bank, sometimes called a correspondent bank, acts as a middle party for international payments when bloxley and the recipient's bank don't have a direct relationship. It connects the two banks to complete the payment.
Does it affect delivery time?
The estimated arrival time shown in your transfer detail view already accounts for any intermediary bank steps. Local SEPA transfers typically arrive within minutes to 2 business days. International SWIFT transfers typically take 1 to 5 business days.
Does it affect fees?
For SWIFT transfers, intermediary banks may deduct their own processing fees before the funds reach the recipient. These fees are charged by the banks involved, not by bloxley. This means your recipient may receive slightly less than the amount you sent.
bloxley currently uses the SHA (shared charges) model. The option to cover intermediary fees upfront is coming soon.
How to check your transfer details
- open the bloxley app and log in
- go to the "Accounts" tab on the home screen
- scroll down to your recent transactions and tap the relevant transfer
- tap "Get help" if you have concerns about a specific transfer