04 November 2008

Payments intermediation proceeding more smoothly to and from the UK

Payment intermediation to and from the United Kingdom is proceeding much more smoothly than before. However, it is important to bear in mind that payments generally take a longer time to reach their destination than they did before problems developed roughly a month ago.

As regards those payments that are routed through the Central Bank of Iceland, it is necessary to remember that, in order for payments to Iceland to reach the proper destination, the payer in the UK must have the correct payment instructions and must request that payment be made through the Central Bank's account with National Westminster Bank. If credit institutions that have experienced particular difficulties are mentioned by name, this can delay or obstruct payment.