What are SWIFT payments?

What are SWIFT payments?

SWIFT payments are a type of international transfer sent via the SWIFT international payment network.
The SWIFT international payment network is one of the largest financial messaging systems in the world. TransferWise can send or receive certain currencies via SWIFT payment.

Fees for SWIFT payments

  • Your bank will likely charge a fee to make a SWIFT transfer to TransferWise. 
  • In addition, when the money is in transit, correspondent banks in between may also deduct their handling fees. Your bank should be able to advise what those would be.
  • If money is sent directly to your borderless balance, there's nothing extra you need to do - we'll deposit whatever we receive into your balance.
  • When you send via SWIFT, make sure your bank will cover any fees associated with the payment. 

Transfer times for SWIFT payments

SWIFT payments usually take 2–5 working days to reach their destination, however it is possible that they can take longer due to time differences between the sending and receiving country, or multiple intermediary banks involved with delivering your money to us.

We also pay out via SWIFT when you send USD to countries outside the US, GBP to countries outside the UK, or EUR to countries outside SEPA (Single Euro Payments Area). Read more about sending USD to countries outside the US.


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