A SWIFT transfer is an international bank transfer routed through the SWIFT network, the global system connecting more than 11,000 financial institutions in over 200 countries. When you need to send money outside Europe, or in a currency other than euros, a SWIFT transfer is typically how it gets there.

How a SWIFT transfer works

SWIFT itself doesn't move money, it sends secure messages between banks, instructing them to debit and credit the right accounts. When you initiate a SWIFT transfer, your bank sends a payment instruction through the network. If your bank doesn't have a direct relationship with the receiving bank, the payment passes through one or more correspondent banks along the way, and each may deduct a fee.

To send a SWIFT transfer, you typically need:

• The recipient's full name and address

• The recipient's IBAN or local account number

• The receiving bank's BIC/SWIFT code

• The currency and amount

SWIFT transfers generally take one to five business days to arrive, depending on the countries involved and how many banks are in the chain.

SWIFT transfer vs. SEPA transfer

The right transfer method depends on where you're sending money and in which currency.

• Use a SEPA transfer for euro payments within the 36 SEPA countries. These are typically same-day or instant, and often included in your bank plan at no extra cost.

• Use a SWIFT transfer for payments to countries outside the SEPA zone (for example, the US, Japan, or Australia), or for non-euro currencies anywhere in the world.

SWIFT transfers are slower and generally involve more fees, but they're the standard route for reaching the rest of the world.

Sending money internationally with bunq

For transfers outside Europe, bunq supports international bank transfers in multiple currencies. You can hold and manage foreign currencies directly in your bunq account, and bunq's zero-fx feature lets you spend and convert in foreign currencies without extra conversion fees on supported currencies.

Common questions

How long does a SWIFT transfer take?

Most SWIFT transfers arrive within one to five business days. The exact timing depends on the countries, currencies, and banks involved. Transfers passing through several correspondent banks can take longer. Your bank will usually provide an estimated delivery window when you initiate the transfer.

Are there fees for SWIFT transfers?

Yes. SWIFT transfers typically involve a sending fee from your bank, and correspondent banks along the route may deduct charges from the transferred amount. The total cost depends on your bank's fee structure and the number of intermediary banks involved. Check your bunq plan for the applicable fees before sending.

What's the difference between a SWIFT transfer and a SWIFT code?

A BIC/SWIFT code is the identifier for a bank on the SWIFT network, it's what you provide to tell the network where the money should go. A SWIFT transfer is the payment itself, sent through that network. You need the recipient bank's SWIFT code to make a SWIFT transfer, but the code itself is just the address, not the transaction.