global payment guide

Gibraltar

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Receiving currencies in
EUR, USD, GBP
Sending currencies to
EUR, USD
Transaction processing time
1-5 working days
Available payment networks
SWIFT
SEPA
FasterPayments

Gibraltar, traditionally dependent on cash transactions using the Gibraltar pound (GIP), is increasingly embracing mobile payments, a change driven by its expanding e-commerce sector. This evolution opens new opportunities for international businesses and entrepreneurs looking to engage in the region's dynamic market. Various payment systems now facilitate efficient transactions for both local and international customers with online businesses in Gibraltar and beyond.

However, international entrepreneurs often encounter hurdles in opening traditional bank accounts in Gibraltar due to residency requirements and regulatory complexities. In such scenarios, innovative payment companies like WeavePay become crucial. They offer alternative, streamlined financial solutions tailored for global commerce, easing the challenges faced by non-residents. This guide aims to provide a comprehensive overview of Gibraltar's available payment options, including transfer times, associated fees, and other vital details pertinent to the country's payment landscape, offering valuable insights for those involved in international business activities."

Payment methods available in Gibraltar
Visa

Most online businesses in Gibraltar allow users to pay using Visa. The payment system is one of the leading options for settling bills in Gibraltar and other parts of the world. 

PayPal

In Gibraltar, PayPal is a commonly used digital wallet, especially favored for online transactions. It's popular among online businesses for receiving payments, boasting a significant user base. While PayPal is well-suited for individual users, businesses typically need more comprehensive solutions for their operations. For such businesses, a more personalized and robust system is necessary to handle complex financial activities effectively.

Bank Transfers

Despite the rise of online payment services, bank transfers remain a steadfast method in Gibraltar, often used by businesses to let customers settle bills. To send money to Gibraltar via bank transfer, an IBAN (International Bank Account Number) and other payment details are necessary to complete the transaction, with recipients receiving funds directly in their bank accounts. 

However, non-residents often find it challenging to open bank accounts in Gibraltar. In such cases, platforms like WeavePay offer a practical alternative. 

Cash

Cash remains a widely used payment method in Gibraltar. Many shoppers still prefer to pay with cash for products and services, making it a straightforward and popular way to settle bills in the country.

UnionPay 

This alternative payment method is available for shoppers in Gibraltar. With over 7 billion active cards in circulation, this payment option remains the biggest card network. UnionPay is one of the online payment methods that offers customers vouchers, prepaid, and gift cards. 

Are there any benefits of sending money to Gibraltar with WeavePay?

WeavePay has many benefits, regardless of the location you're sending money to. WeavePay supports popular currencies and makes it easier for online businesses to receive buyer payments quickly. Some benefits of sending money to Gibraltar with WeavePay include: 

  • 24/7 access to cash
  • 48 hour onboarding
  • 65+ currencies
  • Personalized, human support

Check if you qualify for a WeavePay account today.