What is a currency code? How three-letter codes like GBP and USD work
By SendPay Business · · 2 min read
- 1Start from the UK
- 2Send to the countries you choose
- 3It arrives in their own currency
A currency code is a short, standard name for a currency, like GBP for the British pound or USD for the US dollar. The codes come from an international standard called ISO 4217, and banks, payment systems and exchange rate sites all use them.
How the letters are chosen
- The first two letters are usually the country's two-letter code, such as GB for the United Kingdom.
- The third letter is usually the first letter of the currency's name, such as P for pound.
- So GBP is the pound, JPY is the Japanese yen and CAD is the Canadian dollar.
- Currencies shared by several countries get their own code, such as EUR for the euro.
Number codes too
Each currency also has a three-digit number code, used by some systems that can't handle letters. GBP is 826, USD is 840 and EUR is 978.
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Why codes beat symbols
Many currencies share a symbol: the dollar sign is used by the US, Canadian, Australian and other dollars. A code removes any doubt about which currency is meant, which matters when money is moving between countries.
Where SendPay fits
SendPay platforms give your customers GBP, EUR and USD accounts with exchange between them, at a fee you set, under your own brand and powered by licensed partners.
How it works
Your own money app- 1Name it and pick your colours
- 2Choose what it does
- 3Launch when you are ready
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SendPay Business is a technology company, not a bank. Accounts, cards and payments are powered by licensed partners.
Questions people ask
What is a reserve currency?
A currency governments hold in large amounts.
What is a reserve currency? →Read next
Spotted a mistake or something out of date? and we'll fix it. How our guides are made
This guide is general information, not legal or financial advice. SendPay Business is a technology company, not a bank, and does not take deposits; regulated services on the platforms are provided by licensed partners. Other companies named in this guide are reference points only and are not affiliated with SendPay Business.