How to send a SWIFT transfer: tariffs and system conditions in 2021

[Carding Forum]

SWIFT transfer is considered one of the most reliable ways to send money abroad or receive funds.

SWIFT transfer: how to send and how to receive?

Swift transfer is a proven way to send money to almost any country in the world. This transfer format is popular due to its relatively low commission (for large amounts). In this article, we will look at how to send money abroad while. How to receive a transfer from abroad and how this format of sending funds differs from the services of competitors.

TOP-3 questions about SWIFT transfer:​

1. What is SWIFT transfer​

This is a way to transfer funds between bank accounts in different financial institutions. You can send funds via SWIFT to almost all countries of the world

2. How long does it take for Swift transfer​

Usually, SWIFT transfers take 3 to 5 business days.

3. How much does a SWIFT transfer cost?​

The largest banking institutions offer to transfer funds at a rate of 0.2-1.5% of the amount (but not less than $ 15-50, depending on the bank). Therefore, SWIFT transfers are more likely to interest those clients who transfer large amounts. After all, it is more profitable to make small transactions through services like MoneyGram.

Bank	Shipping rate	Receiving rate
PrivatBank	0.5% of the amount min UAH 5, no more than USD 500 + USD 12 in UAH at the NBU rate.	Enrollment: To the Internet card, Universal Card and the current account of an individual - no commission To the Card for payments - 0.5% of the amount credited Withdrawal: From the Universal Card and the current account of an individual - 1% of the amount withdrawn From the Card for payments - no commission
Alfa Bank	Opening a current account - free of charge Sending a Transfer - 1%, min 25,00 ye, max 1000,00 ye	Opening a current account - not charged Crediting to a current account - not charged Withdrawing from a current account UAH, USD, EUR, RUB - 1%
FUIB	Transfer fee 1.5% Minimum commission 30 USD	Enrollment: free; Withdrawal: 1%, 2% in RUB Withdrawal: 2 USD at the NBU rate for all currencies, except RUB
Raiffeisen Bank Aval	For transfers in USD - 0.75% of the amount, but not less than 20 USD and not more than 500 USD; For transfers in EUR - 0.75% of the amount, but not less than 20 EUR, and not more than 400 EUR;	Enrollment: free withdrawal: 1%

How to send a SWIFT transfer?​

The question of how to transfer money abroad using SWIFT may interest those who want to deposit funds for a service that is provided abroad (for example, education, medical treatment) or simply make a private transfer to an individual. The main requirement for such payments is the absence of signs of entrepreneurial activity, including trade.

To make a SWIFT payment in foreign currency, you need to have basic documents on hand. This is a passport or another certificate that replaces it for residents. And a national passport and a certificate for permanent residence for immigrants from other countries.

SWIFT transfer: details for sending payment​

• Bank's name
• Bank SWIFT code
• account number (or IBAN)
• name of the SWIFT transfer - full name, residence of the recipient
• purpose of payment (purpose of payment, invoice number).

It is important to take into account that if the payment is intended for a non-resident legal entity, the sender should indicate the name of the product or service, enter the number and date of the invoice / contract on the basis of which the service will be provided. The transfer can be made at the cash desk of the financial institution or issued in your online bank.

How can I be sure that the SWIFT transfer has been sent?​

In the process of forming a Swift payment, the client will be prompted to indicate his e-mail. After the operation, a SWIFT protocol will be sent to it, confirming the successful sending of the SWIFT payment. You can also clarify the status of the transfer with the bank's hotline manager.

How to receive a SWIFT transfer from abroad​

If your relatives, acquaintances, or partners who are abroad want to send funds, they can use the SWIFT system. To send a swift transfer from abroad, you need to know the payment details of the recipient. And also make sure that he has a currency bank card or checking account. And the currency in which the transfer is initiated coincides with the currency in which the recipient will withdraw funds.

How can I find out my details for a Swift transfer?​

There are several options for finding out your details:

• in online banking. For example, PrivatBank offers to issue a SWIFT transfer in Privat24 by going to the menu "All services" - "Info" - "My details" - "SWIF-payment"
• in the mobile application. For example, in monobank you need to go to the menu "Replenish card" - "SWIFT" - Select currency
• self service terminal
• online chat with the operator
• bank branch

How to indicate the purpose of the transfer?​

It is not enough to transfer your account details to the sender. You need to make sure that he correctly indicates the purpose of the funds. After all, this is an important requirement for a successful SWIFT transfer.

So, if an individual sends money, one of these options will do:

• private transfer to a relative
• transfer to a personal account
• help for relatives

If the funds are sent by a legal entity (for example, an employer), you can specify the following:

• fee
• compensation
• the salary

How to receive the money?​

Receiving a Swift transfer is possible at a bank where the client has a current account or online - if the currency of sending funds and the currency of the recipient's account are the same, the transfer will be credited automatically.