How to complete a SWIFT transaction.
- Enter the account intended to be used for SWIFT.
- Enter the account from which the transaction fee will be deducted.
- Enter the first letter of the country of the bank to which the transfer will be made and the first letter of this bank.
- Enter the first three letters of the city of the bank/branch to which you want to make the transfer.
Or instead of all this information, you can just enter the SWIFT code of the bank to which you will make the money transfer. Bank SWIFT codes consist of 11 digits. If the SWIFT code is less than 11 digits, you can add X at the end to make it 11 digits.
After entering this information, a list of bank branches will appear that match your criteria and which are defined in the SWIFT system. If the bank you want to transfer to is not on this list, you need to make your transaction at a branch.
When does the money reach the receiving account in a SWIFT transaction?
If you set up a SWIFT transaction before 17:00, your transfer will be received in two business days; if you do it after 17:00, it will be received in 3 business days by the account in the corresponding bank.