Transferring money from Iran to a bank account in London is not possible directly through Iranian banks, but there are established routes. The main one is a reputable currency exchange house (sarafi) that pays the equivalent in pounds directly into the destination account. For large amounts and formal purposes such as tuition fees or investment, a SWIFT transfer through an intermediary company is the standard, well-documented option. Money transfer operators and other services can also be used in some situations, each with its own costs and limitations.
A closer look at the ways to transfer money from Iran to London
There are several main routes for sending money to the UK. Each has its own features, and the right choice depends on the amount, how quickly you need the money and the purpose of the transfer.
Read more: What services does an online exchange offer?
Exchange houses: the most reliable financial bridge
Exchange houses are the main way to transfer money to London. The process is simple: you contact a reputable exchange that has accounts and an office in the UK. After checking the pound exchange rate and agreeing the final rate, you pay the rial amount into the account the exchange gives you in Iran.
The exchange then pays the pound equivalent into the bank account of the person, company or university you choose in London and gives you a receipt. Because it is simple, reasonably fast and traceable, this is most people's first choice. Make sure the UK side of the exchange is authorised or registered with the FCA and HMRC, and expect to provide identity documents and evidence of the source of funds.
SWIFT transfers through intermediary companies
A SWIFT transfer is the most standard and formal way to move large sums internationally. It is used to pay university tuition, buy property or make business investments that need an official receipt.
Because this cannot be done directly from Iran, exchange houses provide it through their international bank accounts. High security and no fixed upper limit are its advantages, although the process can take several working days and the fee is usually higher than other methods; the cost is calculated alongside the main amount at the relevant exchange rate, such as the British pound rate.
Online payment platforms
- PayPal, Wise and Skrill are well-known international payment services with low fees for some transfers. None of them provide services to people in Iran, and using them through someone else's account breaches their terms and can lead to the account being frozen. If you already live in the UK and hold your own account, they can be useful for moving money between your own accounts outside Iran.
Fast money transfer services (such as Western Union)
Companies such as Western Union and MoneyGram are known for very fast transfers, often within a few hours. The sender hands over the money and receives a tracking code, and the recipient collects the cash from a branch with their ID and the code. Their main drawback is much higher fees than other methods, and these services are not available for transfers from Iran.
Cryptocurrency: a warning
Some people consider using cryptocurrencies such as Bitcoin or Tether to move value out of Iran. This carries serious risks: sharp price swings, the technical knowledge needed to use digital wallets, a high risk of fraud and, crucially, UK banks and crypto platforms may refuse or freeze funds they cannot trace, and moving money in breach of sanctions or exchange rules is illegal. For money you will need to use in the UK, a documented route through a regulated provider is far safer.
Read more: 5 top exchanges for buying Bitcoin
Information and documents needed for a transfer to London
To make sure your transfer goes through smoothly, give your currency services provider accurate details. Preparing these in advance speeds things up.
Destination account details (recipient in London)
- Account holder name: exactly as registered with the bank.
- Account number: the 8-digit account number used by UK banks.
- Sort code: a 6-digit code identifying the bank and branch in the UK.
- IBAN: a longer code including the country, bank and account codes, used for international transfers.
- SWIFT/BIC code: the international identifier of the receiving bank.
- Name and address of the receiving bank.
Sender's documents
Reputable exchanges must verify their customers' identity to comply with anti-money laundering (AML) rules. Identity documents such as a national ID card are required for individuals, and company registration documents for businesses. For larger amounts, you will also be asked for evidence of where the money came from; see our guide to source of funds and source of wealth.
Transfers to major banks in London
Through the routes described above, money can be paid into any major bank in London and across the UK. Some of the largest banks Iranians commonly deal with for study or business include:
- HSBC: one of the world's largest multinational banks, with a wide network.
- Lloyds Bank: one of the oldest and most respected British banks.
- Barclays: a large international bank offering a wide range of services.
- NatWest (National Westminster Bank): one of the UK's main retail and commercial banks.
- Santander UK: the British arm of the Santander banking group.
Summary
Although money cannot be transferred directly from Iran to London because of restrictions, there are secure, suitable routes. The key is choosing a reputable intermediary or exchange house that can use its international infrastructure to make the transfer for you. The right choice between an exchange transfer and a SWIFT payment depends on the amount, how urgently you need it and the paperwork you need at the other end. For a secure, straightforward process, speak to financial specialists who know the routes for transferring money to the UK well; they can make every step simpler.