What is a SWIFT transfer?

This is a type of domestic or foreign transfer made in a foreign currency. The processing time for such a transfer is up to 3 working days, depending on the selected posting date:

● Spot – the cheapest transfer option; the transfer will arrive at the recipient within 3 full working days of the order,
● Tomnext – if the transfer is ordered by, for example, 13:00 (depending on the bank), it will arrive at the recipient the following day,
● Overnight – the fastest and most expensive transfer mode If the transfer is ordered, for example, by 1:00 PM (depending on the bank), it will arrive at the recipient’s premises the same day in the afternoon.

A SWIFT transfer also has so-called cost instructions:

● SHA – the fees of the sender’s bank are paid by the payer, and the fees of the receiver’s bank and the fees of third-party banks* are paid by the beneficiary,
● OUR – all fees of the banks involved in the transfer* are paid by the payer (option not valid in the EEA),
● BEN – all fees of the banks involved in the transfer* are paid by the recipient.

Walutomat disburses funds using the SHA and OUR options, depending on the client’s choice, either in the ordinary or expedited mode.

* In a few cases, an intermediary bank may be involved in the execution of a SWIFT transfer in the SHA option, which charges an additional commission If you want to be sure that the amount you indicate will reach the recipient in full – choose an OUR transfer.