I have never heard of a bank called Permanent TBS (and Google can't find it either!). There was a TSB (short for Trustee Savings Bank) which merged with Lloyds some years ago and is now Lloyds TSB.

You CAN pay in foreign currency from US accounts - that's how we get paid by several of our US customers. I don't know the detailed mechanics of how it works, but I do know that you can specify the amount in a foreign currency and that the bank will do the conversion for you. As others have said it's not cheap.

SWIFT, BIC, IBAN: This is all information that the banking system will need to correctly route the money. I don't know if they need all three of them, I don't know exactly how they are used, but I know that this is part of the standard information that one gives to one's customers abroad when they ask for bank details (along with the account number and the bank sort code - which is the ONLY information that customers in one's own country need).

Wire transfers and Paypal payments are two entirely different systems. It looks to me like the owner has got them mixed up. It's up to the Paypal account holder to tell Paypal what bank account to pay funds into, so if you're paying by Paypal you don't need things like SWIFT codes. As someone else has said all you need for a Paypal payment is the email address that is linked to the Paypal account.