SWIFT transfer

Definition

The global system for international transfers, used outside the SEPA area.

What it means in practice

SWIFT lets you send money almost anywhere, but usually with a fee and a longer time than SEPA. Intermediary-bank costs are often added.

Why it affects your choice

If you send money outside the euro area — for example to family in your country of origin — the cost and time of SWIFT matter a lot.

Watch out

Check who pays the intermediary fees (SHA/OUR/BEN) — it affects the amount the recipient gets.

WTP Finance is for information only; we do not give financial advice.