International Payments

Course description

Join our practical International Payments course conducted by a senior market practitioner with over 25 years of international experience to learn about the key processes and mechanisms and the best current practices. 


We offer 2 editions of this programme:

  1. London on 16-17 Oct & 11-12 Dec 2024
  2. Virtual: 3 x 4.5 hours on 26-28 Aug at 10 a.m. UK time. 

Our online classes are so much more than just a webinar – they provide an interactive experience where you will be able to get your questions answered in real time by our senior experts and have discussions with other participants. You will receive a comprehensive set of course materials and course certificate on completion. And finally, you will benefit from savings on course fee and travel expenses, as well as on the VAT charge if you are based outside of the EU.

On completion you will receive a comprehensive set of course materials and course certificate.

This programme can be arranged as in-company online session. Contact us to discuss your requirements.


This practical course has been tailored for banking professionals who have some experience in domestic payments and want to expand their knowledge of international payments. You will explore the key principles, concepts, practices and current developments in international payments.

You will have a chance to learn about the principles of foreign exchange and currency, high-value global payments, purpose and role of SWIFT and CLS, global clearing and settlement mechanisms as well as about liquidity management, international trade facilitation, risk management, and legal and regulatory issues.

Who should attend? This course will be of special interest to payment professionals with some experience who wish to expand their knowledge base and advance their careers into the global payments arena.

What will you learn

On completion of this course you will: 

  • Gain the practical knowledge of all key processes and concepts in international payments
  • Learn about the various stages of low and high value payment process
  • Understand the role and functioning of SWIFT and CLS
  • Get to grips with foreign exchange and currency principles
  • Explore the mechanisms in clearing and settlement
  • Learn about liquidity management principles
  • Gain the tools for managing all risks involved
  • Understand the legal and regulatory frameworks
  • Explore the current market trends and challenges

You may be also interested in one of the following programmes: 

Register for any 2 public courses at the same time and save £100 + VAT (in total, not per course)

Related in-company training: 

Main topics covered during this training

  • Foreign exchange & currency principles
  • High-value global payments
  • Cross Border Retail Payments
  • Alternative Payment Arrangements & Systems (Correspondent Banking, Hawala)
  • Purpose & role of SWIFT
  • Purpose & role of CLS
  • International Payments & the Law
  • International Standards, Conventions & Principles
  • Financial Action Task Force (FATF)
  • Anti-Money Laundering
  • Global Clearing & Settlement
  • Liquidity & Treasury management
  • International trade facilitation
  • How International Trade is financed
  • Risk management, and
  • Legal & Regulatory issues
  • Challenges for corporates in international payments
  • Current and future trends

Who should attend

Operations and business staff from:

  • Commercial banks
  • Investment banks
  • Foreign Exchange dealers
  • Brokerage companies
  • Multinational corporations
  • Money Managers
  • Commodity Trading Advisors
  • Insurance companies
  • Governments
  • Central banks
  • Pension Funds
  • Hedge Funds
  • Investment companies
  • Brokers/dealers and other participants in the inter-dealer market.

International Payments - A 2 Day Course

Day 1

International Payments Primer

We introduce participants to the key concepts, principles, and terms relating to international payments. Delegates are provided a fundamental understanding of the field and a foundation for comprehending more advanced or topic-specific subject matter delivered subsequently in the program.

  • The purpose of a Payment System
  • Characteristics of International Payments
  • The Payment Process
  • The Current International Payments Scene
  • Who Makes International Payments

Cross-Border Retail Payments

  • Definitions and Overview
  • Nature of Cross-Border Payments
  • Demand and Supply Sides
  • Key Features
  • Overview of the Cross-Border Retail Payments Market
  • The Demand Side

The Supply Side – Front End

  • Payment Service Providers
  • Types of PSPs of Cross-Border Retail Payment Services
  • End-to-End PSPs
  • Payment Instruments
  • Payment Cards for Cross-Border Payments
  • Service Channels and Access Points

Supply Side – Back End

  • Back-End Arrangements
  • Correspondent Banking Model
  • Interlinking Model
  • Closed-Loop/In-House/Intragroup
  • Peer-to-Peer Model
  • Use of the Blockchain
  • Contractual, Legal and Regulatory Framework

Market Preferences

  • Demand Side – Different Preferences
  • Demand Side – Expectations
  • Supply Side – Front End – Innovation, Cash preferences, challenges and standards

ISO 20022 and International Interlinking of Payment Infrastructures

  • Supply Side – Back End Messaging, Settlement, Improvements, Alternatives

Regional Integration Case Studies

  • Directo a México
  • Arab Regional Payment System
  • SEPA

Interdiction & Enforcement Aspects of International Payments

  • International Payments & the Law
  • Local Laws
  • International Principles and AML Requirements
  • Financial Action Task Force (FATF)
  • Examples of Legal Payments Structures – The USA, The UK, European Union
  • Anti-Money Laundering
  • Suspicious Activities

High-Value Global Payments

  • TARGET T2-Securities

The Purpose & Role of SWIFT

  • SWIFT’s Evolution
  • Network & Transaction Volumes
  • Before SWIFT – How payments worked
  • What SWIFT is used for
  • The Role of SWIFT in Payments
  • BICs
  • Straight Through Processing
  • FIN Services – How it works
  • SWIFTNet
  • SWIFT Message Types
  • Cross Border ACH (SWIFT through a CUG)
  • The FIN Message Dissected
  • SWIFT Standards XML: Comparing FIN & XML, SWIFT Global Payments Innovation (gpi)

Global Clearing & Settlement

  • A Study in complexity
  • Settlement Under Correspondent Banking

Day 2

Foreign Exchange & Currency Principles

  • Foreign Exchange (FX) Terms
  • Nostro & Vostro
  • How Foreign Exchange Works – A Case Study
  • Exchange Rates – How rates are set, Supply & Demand, International Monetary Issues, Purchasing Power Parity
  • Foreign Exchange Issues:  Gold Standard, National Fiat Money, Bretton Woods, Floating Rates

Alternative International Payment Systems 

  • Hawala – What it is and how it works
  • A Case Study
  • Why is Hawala used?
  • Is Hawala Legal?
  • Hawala and Money Laundering
  • How the system can be misused

Workers’ Remittances

  • What are Remittances?
  • Who are the SenderS and the Receivers?

The Purpose, Role & Operation of CLS

This section deals with risks in International payments and the role of CLS in their mitigation.

International Payments and Risk

  • Herstatt Risk
  • What are all the Foreign Exchange Risks?
  • Settlement Methods and their Effect on Risk

The Mathematics of Foreign Exchange Settlement

  • How Exposures are Measured
  • The Foreign Exchange Settlement Process
  • Projecting FX Settlement Exposures
  • Duration of FX Settlement Exposures
  • Size and Duration of Exposures
  • Payment System Operating Hours & Time Zones

Continuous Linked Settlement

  • How CLS Works
  • Benefits of CLS
  • New CLS Services
  • CLS & Correspondent Banking

Liquidity Management

  • Traditional Tools of Liquidity Management
  • Managing Liquidity
  • Managing Liquidity Within a Bank System
  • Multi-Currency Liquidity Management

International Trade Facilitation

  • The Trade Process
  • Payments Within the Trade Process
  • Payments in International Trade
  • Documentary Credits & Documentary Collections
  • Linking Goods to Documents

Guarantees & Letters of Credit

  • Guarantees – types, uses and processes
  • Letters of Credit
  • Standby Letters of Credit

International Trade Financing Methods

  • Balancing cost and risk
  • Customer financing solutions – Letters of Credit, Documentary Collection

Risk Management in FX

  • What is Risk?
  • The Size of the Problem
  • FX Risks – Some Notes Case Studies

Managing Risks

  • Enterprise Risk Management
  • Implementing a Risk Management Policy
  • Operational Risk
  • Managing Operational Risk
  • Risk Analysis
  • Risk Appetite
  • Risk Impact Vs. Frequency
  • Risk Impact Vs. Probability
  • Regulation as a Payment System Risk

Advanced Legal and Regulatory Issues

  • Achieving an Efficient International Payment Service
  • UNCITRAL and its Model Law
  • FATF and International Payments

Corporate Perspectives & Challenges in International Payments

  •  What Corporates Want
  • RosettaNet

Emerging Trends

  • How International Payments are Changing
  • What the Future may Hold



Richard’s professional experience spans over 30 years. He started his career with Wells Fargo Bank, following by Fundtech and then moving to international advisory and consulting for the private and high-tech sectors providing high-level consulting, business analysis, project management and training to a wide range of banking clientele across the globe.

Over his career Richard was involved in International Trade Finance, Cross Border Payments and Settlements, Operational Risk, AML and Corporate Governance amongst others.

He has spent extensive time servicing a diversity of financial institutional clients in many countries including: UK, Ireland, China, Singapore, Hong Kong, Philippines, Korea, Malawi, Ghana, Nigeria, Kenya, South Africa, Poland, Sweden, Netherlands, Greece, Norway, Bermuda and across North America.

Clients that Richard has trained & consulted to include: JP Morgan, Abu Dhabi Commercial Bank, Qatar Exchange, Abu Dhabi Investment Authority, Central Bank of Egypt, Irish Gas, UBS, Central Bank of Ireland, Central Bank of Norway, Merrill Lynch, PGGM, BP, Asian Development Bank, African Development Bank, Instinet, Fundtech, European Central Bank, Brunei Investment Agency, British Steel Pension Fund, Salesforce and Tullet Prebon amongst others.



We offer banking and finance courses as well as soft skills and business management training. You can either attend an open public course in London or Dubai or arrange customised in-house training to be delivered in any of your offices worldwide.

Most of our public courses are run over 2 full days. Some programmes are offered as a 1 or 3 day training.

In-house training is tailored to client’s requirements and can be organised over 1 day, 2-3 weeks or longer.

Public courses are organised mainly in London and Dubai. Occasionally we organise courses in other centres like Paris or New York. Check our public course calendar for the current list of programmes. We use a range of training venues, all in the centre of the cities and with excellent transport links to the airports and train stations.

In London we use venues in the centre (near Oxford Circus station or in Mayfair) or in the City (near Liverpool Street or Moorgate stations).

In Dubai our courses are organised in one of 4-5* hotels in the Deira district. Once you register we will send you detailed information together with accommodation options if required.

Our in-house courses can be delivered anywhere in the world. We work with over 25 trainers worldwide. Contact us do discuss your requirements. Check our list of available programmes.

Our courses are run in central locations from 9 a.m until 5-5.30 p.m. There are 2 coffee breaks and a lunch break. Lunch is always provided in the venue.

Dress code is smart casual.

All our programmes are taught by senior specialists who have spent many years in their respective sectors, working as senior managers and head of departments, so they understand very well the market and the challenges you are facing.

The experience of our trainers allows us to create very practical programmes, focused on current market trends and challenges. You can be sure that you will gain the knowledge which can be instantly applied in your workplace after the course. You will be analysing real life case studies, take part in group exercises and discussions as well as role plays, whenever applicable.

We want our courses to be as practical and interactive as possible so we limit the number of participants in order to optimise your time with the trainer and allow you to ask questions which are important for you.

In order to understand your requirements and expectations, we will send you a pre-course questionnaire.

You will also receive post-course support so if you have any questions after you left the training, you are welcome to contact us.

There are 2 easy ways to register:

  1. Go to the course of your choice and click Register Now button to fill the registration page
  2. Email us to

After you register, we will send you registration confirmation and an invoice so you can arrange the payment. Please note that your place is not confirmed until we receive it.

If you register within Early Bird discount period, there’s limited time to arrange the payment in order to be eligible for the discount. You will find all the details on the invoice.

We don’t advise to make any travel and hotel arrangements until you receive full course confirmation from us.

We will send you venue and course details as soon as possible but most likely about 3-4 weeks prior to the course commencement.

You can pay by:

  • Making a bank transfer
  • Debit/credit card
  • Cheque payable to Eureka Financial Ltd. - only within UK

Just mark preferred paying option on the registration form. Whichever form of payment you choose we will always send you an invoice.

If you pay by card, a 2.2% processing fee will be added. We will send you authorisation form so you can give us your card details.

Included in the price of a public course are:

  • Course tutorial
  • Take away course materials
  • Course Certificate
  • Lunch on the days of the training as well as drinks and snacks throughout the course

The price doesn’t include accommodation, flights, transfers and any additional costs outside of the training venue.

Yes, we always offer Early Bird discount, so the sooner you register the more savings you can make. We also offer group discounts and if you register for 2 or more programmes at the same time.

If you are a full time student or unemployed, we offer a 25% discount of the full price of the training. Student ID or unemployment status confirmation is required to claim this discount.

If you attend one of our courses you will be entitled to a special discount for a year after the last course you attend with us. Also, if you have attended and recommended us to a friend, both you and your friend will receive a special discount. You will receive more information about it after you attend the course.

See our Customer Loyalty Discounts page for more details.

All our courses based in the UK are subject to the VAT charge of 20%. This fee is irrespective of the country of residence of the delegates.

You can, however, claim the VAT back by contacting UK tax office - HMRC, and filling the relevant form, as long as you comply with the following rules:

For Delegates coming from the EU countries

If you represent a registered business in another EU country, you can use the Refund Scheme to reclaim VAT you pay in the UK as long as all of the following apply:

  • You're not registered for VAT in the UK and don't have to, or can't be, registered here
  • You don't have a place of business or a residence in the UK
  • You don't make any supplies in the UK

You can find some more information here. In order to claim the VAT you have to fill Form 65.

For the Delegates from Non EU countries

If you represent a registered business in a non-EU country, you can use the Refund Scheme to reclaim VAT you pay in the UK as long as all of the following apply:

  • You're not registered for VAT in the UK and don't have to, or can't be, registered here
  • You don't have a place of business or a residence in the EU
  • You can only use the Refund Scheme if your own country operates a similar scheme and makes it available to UK businesses. If your country has its own Refund Scheme but doesn't let UK businesses use it, you can't claim under the UK Refund Scheme.
  • You don't make any supplies in the UK

If the following rules apply to you, please fill the 65A form and send it to HMRC.


You can cancel your participation up to a month before the course and receive a refund minus 10% of the full course value. Between 2-4 weeks before the course you will be charged 50% cancellation fee and if you cancel less than 2 weeks before the course you can only offer your place to a colleague. Up to 2 weeks before the course you can reregister for another edition for 10% reregistration fee if there is another webinar offered or you can rebook for a course in London by paying the difference in price plus 10% reregistration fee.

Classroom Courses

If there is any official travel restriction or difficulty related to the COVID pandemic around the time of the course we will convert the training into a webinar or offer to attend the next classroom edition at no extra cost.

If you are unable to attend the course, you can either send a replacement at no extra charge or, up to 10 days before the training, you can transfer your booking to another edition within the next 6 months paying administrative fee of 20% of the full course price. For any cancellation requests received between 11 days and 4 weeks from the course we offer 50% refund or reregistration to another edition for 25% of the value of the booking. For any cancellation requests received more than 4 weeks before the course date we will offer a refund less an administration fee of 10% of the full course price.

Cancellations must be made in writing (letter or email) and reach our office four weeks prior to the course date. We regret that only limited refunds can be given after this period as per points above. Non-attendance without any notification will be charged at full rate. Your place on a course is not guaranteed until we receive the payment. All payments must be made in full before the course date.

All our trainers have been working for many years in their respective sectors before they begun to teach so they bring a wealth of practical experience to the classroom.

Most of them used to work for 15 or more years in the financial sector and corporate world, and were holding positions of Directors, VP and Senior Managers. Some of them have published books and have written articles for specialised magazines and newspapers including FT, The Independent, The Times etc. You can find detailed biography of each trainer on the page of the course you want to register for.

Yes, you will receive a Certificate of Attendance at the end of the course you attend.

If you have to apply for a Visa to attend a course in the UK, we will issue a letter to support your application. The letter will be issued only after the payment for the course has been made.

It is delegate’s responsibility to obtain a Visa and failure to do so will not make the participant exempt from the cancellation policy.

Anyone suspected of applying for a training course simply to gain a Visa letter will be reported to their embassy.

We will need the following information to issue an invitation letter:

  • Full name as it appears on your passport
  • Date of birth
  • Passport number
  • Passport issue date
  • Passport expiry date

26 - 28 Aug 2024, Online / Virtual

Register by 26 Jul to save £300

Early bird price £1795 + VAT

Regular price £2095 + VAT

3 x 4.5 hrs sessions starting at 10 a.m. UK time. 5% discount for 2 and 10% for 3 people. There is no VAT charge for companies based outside of the UK and individuals based outside of the EU.

16 - 17 Oct 2024, London

Register by 31 Jul to save £300

Early bird price £1895 + VAT

Regular price £2195 + VAT

5% discount for 2 and 10% for 3 people.

11 - 12 Dec 2024, London

Register by 31 Jul to save £300

Early bird price £1895 + VAT

Regular price £2195 + VAT

5% discount for 2 and 10% for 3 people.

This topic can be arranged on in-house basis. If you have a group of 4 or more we can customise it and deliver in any location worldwide. Contact us to discuss your requirements



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