What is a currency code? How three-letter codes like GBP and USD work
By SendPay Business · · 2 min read
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.
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.
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What is a reserve currency?
A currency governments hold in large amounts.
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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. PayPal, Patreon and Substack are named as reference points only and are not affiliated with SendPay Business.