Local account details for international payments

What local account details are

When you hear about local account details for international payments, it refers to domestic-format bank numbers: things like an IBAN for euros, or a UK-style sort code alongside an account number for pounds, or the routing and account number combination used for dollars in the United States. These let your clients pay you as if you were a business in their own country, so 'local' or 'virtual' account is a common label for them.

Most providers hand out these local details as extra identifiers tied to your main account. Any funds sent to the local account number appear in your balance, in that currency, for you to hold, pay out, or convert when you want.

How they can save cost and time compared with SWIFT

Payments sent this way move through a domestic network, skipping the extra correspondent banks that SWIFT transfers depend on. That usually means you avoid some deductions and the wait tends to be shorter. And a client’s bank often charges less for making a simple local payment than for sending one overseas. Exact results do still depend on which banks and international payment providers handle the transaction.

For your client, it is just a regular local payment, no guesswork over international charge codes. Of course, if you keep the deposit in a different currency and later want to use or exchange it, you’ll still see currency conversion costs, so always compare the complete total in your home currency. There is more detail on possible deductions in intermediary bank fees explained.

Limits and checks before you rely on them

These local details only work for payments in the corresponding currency, through that country’s payment rails, and clients abroad might not have access to those systems. So before you share your details, check if your provider can accept payments from the client’s country. Make sure too that the account holder name is your business’s name, since mismatches here can trigger questions or even returns.

It’s important to confirm how your provider keeps client money safe, what checks or documents (like a trade license or a recent payslip) it will need from your business, and whether it’s an authorized provider. Authorized firms will appear on your regulator’s list, so always search the register before relying on a new provider. Typically, these local numbers come as part of a multi currency business account service.

A worked example with a US client

Imagine you’re a Belgian design studio invoicing a client in Ohio for 3,000 US dollars. Rather than a SWIFT transfer, you give them your US account and routing numbers. The client sends a regular ACH payment, treated as domestic, and the entire payment credits your dollar balance, no intermediary banks taking a cut, no unpredictable delays. For more on this, see how to receive USD payments in Europe. Later, you can keep the dollars, pay an American supplier, or convert those funds when the exchange rate suits you.

Frequently asked questions

Are local account details the same as a bank account in that country?

Not always. Local account details are payment numbers designed to let funds arrive over that country’s domestic rails, but the provider issuing them might not actually be a bank in that country. Always check whose name the account is in, who is holding your funds, and what protections apply before you start relying on these details.

Can I use local account details for clients in any country?

No, these details only work if your client can pay through the domestic payment system for the currency’s country, for example, a US client making a dollar ACH transfer. If your client is outside that country, they’ll generally need to use SWIFT or another cross-border option. Ask your provider to confirm exactly which countries and currencies their local solutions cover.