What is the transfer of money "Swift"? International Payment System "Swift" (SWIFT) is payment system international level. In cases where the need arises to carry out payment to another country, it will be convenient to use its services. It is believed that it is more reliable and less costly than other similar systems of international payments. If necessary, with the help of the SVYFT system, you can individuals to pay for a hotel or study, and organizations or enterprises - carry out calculations for goods or services. Both the sender and the recipient can be practically anyone:
- individual;
- business firm;
- organization;
- other customers.
She has its own competitors. This is all well-known firms: MoneyGram, Western Union, Unistream and others. For translations of the sums of smaller than ten thousand dollars, the "Swift" takes two times less. And on those that exceed this amount - three times cheaper. This system is used both for conventional remittances and bank payments.
What she represents
This is a reduction made by the first letters of the English name (Society for Worldwide Interbank Financial Telecommunications, Swift). In Russian, this means the "Community of World Interbank Financial Telecommunications".
What is different from competitors?
- When transferring money, it is allowed to choose the currency in which the payment will be received. If necessary, you can give an instruction on the purchase of the desired currency.
- An important feature is that the translation is not carried out on the name of the recipient, but on a specific bank account. That is, cash the money received upon receipt is optional. They can be stored in a bank account for a certain time.
- The system deserved B. banking world high reputation. It was not only qualitatively designed from the very beginning, but also in practice proved excellent quality, high reliability of her work. In addition, transactions in this system are considered reliably protected from hacking.
- There are no restrictions on the transmitted amounts. Of course, this takes place only in such cases when it does not violate the requirements of the legislation.
The main operating center in Europe is located in Belgium. There are plans to open another such center. The company that ensures the functioning of the system, works in Brussels and is subject to Belgian laws.
Work occurs according to the following scheme. Suppose one company plans to make the payment another. For this, it addresses its bank, which will interact directly with the payment system. Before sending through a special terminal, a transaction message will be transferred to a counterparty bank, which will take it, will decipher and execute. The extracts are similar in the same way and it turns out what state is the current unfinished payments.
The use of SWIFT is charged:
- fee for annual service;
- commission for conducting one-time payments.
Each of the ten thousand participants has a unique SWIFT code (it consists in some cases out of eight, in others - from eleven characters that can be both letters and numbers). In order to make bank transfer SWIFT Thus, it is enough to know the IBAN code of the recipient. It includes the designation of the country, the Bank, the branch of the bank, checking characters and cannot have more than 34 characters in its composition.
History
Translation "Swift" - what is it? The system was founded in 1973. Her origins stood 239 banks from 15 countries. They became co-founders SWIFT. Now the company belongs to about nine thousand banks from 209 countries (data for 2010).
Advantages and disadvantages of translations in this system
Like all the systems, the "Swift" has its advantages and disadvantages. Consider them in more detail. Let's start with the consideration of positive sides.
- Translations are characterized by a high performance. The minimum translation time in some cases can be no more than one minute. However, when translated to any point of the planet, such situations are possible when moving money is carried out during the interval from day to three.
- The system itself does not establish any restrictions on the amount of translation. However, if the legislation of a particular country establishes any limits, then "Swift" will take this into account.
- Not only the technical, but also the organization of delivery of funds is highly reliable and protected.
- Almost any currency can be selected in which money will be received. The number of available currencies is large enough.
- Tariffs are much lower than that of competitors.
- This payment system is very popular all over the world. In particular, it allows the transfer of funds to any point of the planet.
- When sending money there is no need for obligatory Have your own bank account.
A significant drawback here is only one. The fact is that two or more banks can participate in money transfer.
Transferring money between remote points of the planet may sometimes be required to use the services of several banks. When passing the departure in each of them, a certain time will be required, which can make the process of transferring money longer.
Some statistics
In order to better understand the role of the SVYFT system, it makes sense to familiarize yourself with certain numbers, it is characterized by:
- During the calendar day throughout the planet, approximately eight billion payments are transmitted. If they are summing up, total result will be an amount equivalent to six trillion of American dollars.
- Swift customers are more than two hundred countries of the world.
- If we talk about the number of banks that are covered by the system, their number is more than six thousand.
Capabilities
In what cases can be used by the system:
- in the event that you wish to transfer money to loved or familiar people;
- if the swift is needed to pay for purchased goods, work or services;
- there was a need to convey a large amount with minimal costs and with high reliability;
- in order to make the transfer, it is not planned to first open an account in the bank.
How to use
What needs to be done to send the translation yourself, using the services considered in the article of the translation system? Here is the instruction:
Handworking
This system works quickly and efficiently. However, in rare cases, difficulties may arise. In such situations, payments are transmitted to manual processing. This usually occurs in one of the following cases.
- Errors in IBAN code.
- Pretty complex payment route.
- The presence of redundant information in the payment.
- When there was no information about the Corresponding Bank.
In order not to face the specified difficulties, you need to safely specify all the necessary details when sending the payment.
Conclusion
This system is currently experiencing a period of rapid development. The combination of quality and reliability, relatively low prices make it advantageous to use it both for individuals and for various firms and organizations.
Despite the fact that international monetary transfers (MSDP), such as Western Union and MoneyGram, are the most popular way to transfer money abroad, in some cases it is much more convenient to use the Swift messaging system (Swift). Money transfers through this system are much cheaper and more convenient to pay for foreign services - such as study, medical service, Booking rooms in hotels. Use such translations and to pay participation in various conferences or to transfer money to the expense of relatives who are abroad. This method of translation is suitable for regular payments abroad. "International SWIFT translations - convenient way Transfer money From the profit of the individuality at the expense of another individual or legal entity. The advantages are speed, security and ability to translate great amount Compared to international transfers, where there is a restriction of up to 15 thousand UAH. (equivalent) in one operating day. With the help of SWIFT translation, it is convenient to carry out targeted payments for treatment, training, rest, help relatives, paying for the purchase abroad, "explains Alexander Stacksko, Head of the Development Department of Products and Retail Business Projects.
In addition to the high level of security, SWIFT transfers have a number of advantages inaccessible to senders of funds through international monetary transfers. First, the client has the ability to independently select the translation currency. For example, you can charge the bank to buy English pounds and list them at the expense of a school in England in which the child learns. Secondly, for the recipient-an individual there is no need to spend time on receiving translation (except when there is a need to cash translate). The advantages of this system include the fact that the translation can be made to the client's account almost in any bank of the world.
Important for many sender the possibility of the system is the lack of restrictions on the sum of translation, if the current rules of the currency legislation of Ukraine are not violated.
Finally, transfers through the SWIFT system is the ability to send large amounts of money abroad at the lowest rates.
SWIFT translation cost
Compared to international money transfers, SWIFT transfers will cost much cheaper, but only when sending large sums. Thus, on the study of the company "Prostobank Consulting" on September 4, 2018, send 100 US dollars abroad with the help of an international money transfer system with a wide network of paragraphs around the world 1-2.2 dollars. And shipping 100 dollars through the SWIFT system will cost 10-30 US dollars, depending on the bank (due to the existence of the minimum tariff).
If you send 10,000 dollars, then the tariffs of large MSSP will be 100-200 dollars, and the translation of the same amount through the SWIFT system can be carried out for $ 20, depending on the bank.
According to the company "Prostobank Consulting" on September 4, 2018, the cost of transfers through the SWIFT system in the retail largest assets of banks is 0.2-1.5% of the amount, at least 15-50 US dollars (more details, see Table below ). "The amount of the Translation Commission depends on the transfer amount and the recipient's country (as a rule, countries that are not included in the euro area are charged above), the billing of the correspondent bank" is complemented by Alexander Stetko.
However, if we compare SWIFT transfers and international money transfers, then you should pay attention to other significant differences, in addition to the price.
Advantages of SWIFT transfers
In part, many MSDP capabilities justify their comparative high costs. The first thing worth paying attention is the transfer period. If transfers through international systems go to the recipient from 15 minutes before the day, then the translations through the SWIFT system will require 3-5 business days.
Another feature of SWIFT translations is their targeting. Most often, sending translations on international money transfers does not limit the recipient at the place of payment of translation, and on the SWIFT transfers system, the transfer is carried out in a particular bank, according to the details specified in the payment order.
And the least pleasant feature of SWIFT translations is the possible appearance of additional costs during sending or receiving funds.
Discharges of SWIFT translations
The first of the surprises that sew the senders of SWIFT transfers is a possible additional commission. There will be this commission or not - depends on the country in which you translate money, and from the bank pricing policy in which you came to disagree. Sometimes the translation can go through 2-3 banks - it all depends on the network of correspondent relationships of the sending bank. The more intermediaries, the higher the tariffs. The fact that the sending bank will have any additional commissions - the bank's problem, the client does not have to concern. Therefore, the Bank has two outputs: either to establish such a transfer rate, which will definitely cover its expenses on all intermediaries, or immediately before the translation itself notify the client about the amount of the additional commission on the mediator.
That is why the most accurate data on the cost of SWIFT translation to the account in one or another country can only be obtained when contacting the bank.
The banking specialist, knowing the name of the country, the presence of correspondent banks in this country, the number of intermediaries involved in translating will voicate you - there will be additional commissions or not. However, many banks with a developed network of correspondent relations establish a tariff in the first scheme - which will accurately cover the costs of intermediaries.
The second type of costs to which should be prepared, and which will have a value for you if you send an accurate amount to a private person, for example, your relative is the expenses of the SWIFT-translation recipient. The potential size of such costs is clearly visible on the example of the tariffs of Ukrainian banks, which relate to the recipients of SWIFT transfers from abroad. For the enrollment of funds or for issuing cash to Ukrainians who received a translation from another country will have to pay 0.5-2% of the transfer amount.
Expenses of recipients of translations through the SWIFT system in 10 retail leaders in assets, according to the company "Prostobank Consulting" on 09/04/2018
Bank | Recipient expenses | Minimum Commission |
PrivatBank | Enrollment: On the Internet Map, Map "Universal" and the current account of an individual - without commission; on the "card for payments" - 0.5% of the amount of enrollment | |
Oschadbank | min. 5 USD, Max. 300 USD at the rate of NBU |
|
Ukreximbank | ||
Ukrgazbank | Enrollment: free; Removal: 1% | |
Raiffeisen Bank Aval | Enrollment: free; Removal: 1% | 1 USD / EUR / GBP per UAH. at the rate of the NBU |
Sberbank | Enrollment: free; Removal: 1.5% | |
Football | Enrollment: free; Removal: 1%, 2% in RUB | 2 USD at the rate of NBU for all currencies, except for RUB |
Alfa Bank | Enrollment: free; Removal: 1% in USD, EUR, RUB | |
Ukrsibbank. | ||
OTP Bank | Enrollment: free; Removal: 1% |
Translation restrictions through SWIFT system
According to Ukrainian legislation (namely, paragraph 2.1. Resolutions of the Board of the NBU No. 496 "On approval of the rules for the implementation of Ukraine and in Ukraine translations individuals According to current currency unbound operations and their payments in Ukraine and amendments to some regulatory acts "), there are a number of restrictions that relate to transfers through the SWIFT system.
If you want to translate more equivalent of 15 thousand hryvnia, you will need to open an account. In addition, to transfer abroad the amount exceeding the named, you will need confirmation of documents, otherwise you can translate only 15 thousand hryvnia per day, even if you want to make a relative.
If you want to make a transfer to pay for services, then without documents do not do. Confirming documents for resident individuals are treaties (contracts), invoices, letters-payments or emails legal entities-Nesident, Plenipotentiary Organs foreign states, letters of lawyers or notaries of foreign states, claims, invitations (calls), etc.
What documents are needed to translate
In order to transfer money through the SWIFT system, you will need a passport and identification code. To make a SWIFT transfer beyond Ukraine in foreign currency The sender needs to be accurately known by the recipient details: the name of the recipient in English, the recipient bank data (name, SWIFT code of the bank), the recipient account number and / or iban-number for the European Union countries.
In order for the translation to be successful, it is necessary to carefully check the recipient details in payment orderwhich is preparing an operator before sending translation.
However, many institutions provide an opportunity for a fee to send a request to the Bank-correspondent about the payment of payment or clarify the details of the recipient. Such an opportunity will cost the sender from 250 UAH. (9 US dollars) (see Table below).
And on the extreme case, banks provide for requests for cancellation. Such a service will be held in the same amount as the previous request (see Table below).
Expenses of sender transfers through the SWIFT system in 20 retail leaders in assets, according to the company "Prostobank Consulting" on 09/04/2018
Bank | The transfer fee | Minimum Commission (if any) | Request in the corresponding bank about the payment of payment, refinement of details | Request for cancellation |
PrivatBank | Sending SWIFT payment (abroad): 0.5% of the amount, min. 5 UAH, no more than 500 USD + 12 USD per UAH at the NBU rate; | 5 UAH + 12 USD - abroad 20 USD - in Ukraine | The Commission for payments in dollars and the euro is $ 75, for payments in the rubles of the Russian Federation - $ 25. | The Commission for payments in dollars and the euro is $ 55, for payments in the rubles of the Russian Federation - $ 25. |
Oschadbank | Sending SWIFT payment (abroad): 1% of the amount, min. 15 USD, not more than 500 USD per UAH at the NBU course | 1 min. 30 USD. | 1 min. 30 USD. |
|
Ukreximbank | Sending SWIFT payment (abroad): 1.5% of the amount, min. 20 USD, not more than 500 USD | |||
Ukrgazbank | USD: min. 30 USD, Max. 250 USD; EUR: Min. 30 EUR, Max. 250 EUR; RUB: Min. 2000 RUB, Max. 8000 RUB; Other currencies: min. 30 EUR, Max. 250 EUR | |||
Raiffeisen Bank Aval | min. 20 USD / EUR / GBP (if the operation in another currency is equivalent to 20 USD), max. 500 USD / 400 EUR / 400 GBP (if the operation in another currency is equivalent to 500 USD); Optional 25 USD For the listing of guaranteed Sumy without holding any commissions Correspondent banks (Guaranteed OUR) | for payments as long as 1 month: 30 USD; as long as 1 month: 50 USD | ||
Sberbank | min. 20 USD / 30 EUR / 300 RUB, Max. 500 USD / 500 EUR / 5000 RUB | |||
Alfa Bank | min. 25.00 Y.E., Max. 1000.00 Y.E. (Y.e. Translation Currency - USD, EUR, RUB), the Commission is held in the hryvnia at the rate of the NBU | |||
0.8% (USD, EUR, RUB, GPB, CHF) / 750 UAH. - Other currency | USD: min. 30 USD, Max. 100 USD; EUR: Min. 30 EUR, Max. 100 EUR; RUB: Min. 1000 RUB, Max. 3000 RUB; GPB: 30 GPB, Max. 80 GPB, CHF: 30 CHF, Max. 100 CHF. | 50 USD / EUR, 40 GBP, 1000 UAH. - Other currencies |
||
min. 500 UAH, Max. 1000 UAH. | ||||
Prominvestbank | min. 30 USD / EUR, Max. 1000 USD / EUR | |||
min. 30 USD, Max. 200 USD. | ||||
Bank VTB (Ukraine) | up to 10,000 USD / EUR: 1%, from 10,000 USD / EUR: 5% | |||
Pivden | min. 25 USD, Max. 250 USD. | |||
ProCredit Bank | min. 20 USD / EUR, Max. 150 USD / EUR | there is no data | there is no data |
|
Kredobank | min. 25 USD, Max. 150 USD. | |||
Tascombank | ||||
Bank loan Dnipro | min. 10 USD, Max. 1000 UAH. | |||
Megabank | min. 30 USD / EUR | |||
International Investment Bank | min. 30 USD / EUR, Max. 100 USD / EUR | 100 UAH. + Commissions of other banks |
How much money can be translated abroad to a relative through the SWIFT system in one day?
What maximum amount in US dollars can be transferred to a relative abroad using SWIFT translation to one operating day? What documents do you need to provide?
If there are documents confirming related links, there are no restrictions on the amount of translation. Such documents, depending on the degree of kinship, may be evidence:
- About marriage
- About birth
- On the termination of marriage
- On the establishment of paternity (certificate of adoption / adoption)
- About changing the name
If there are no documents confirming related bonds, then the amount of translation is limited to an equivalent of 15,000 UAH.
Rosavtobank Bank "Levoberezhny" Crucianvestbank money Transfer Systems SWIFT Terms (Swift) DalcombankS.W.I.F.T. - so abbreviated called the community of worldwide interbank financial telecommunications, which provides an international financial data transfer system, in Russian community called "Swift". Self english word SWIFT means: fast, fast, fast. One of the important functions of the community is to carry out remittances between banks on the SWIFT system (Swift translations).
The logo of the SWIFT system (Swift) in banks and their structural divisions and on their sites is not often found. The shape of the logo resembles the form of the Earth with meridians. Logo S.W.i.f.t. looks like that:
SWIFT logo
History and general information about SWIFT system
SWIFT (Swift) was created in 1973, when 239 banks from 15 countries of Europe and North America were established by the community S.W.I.F.T. Society for Worldwide INERBANK FINANCIAL Telecommunication / Community of World Interbank Financial Telecommunications). The purpose of creating financial telecommunications is the transfer of data between financial organizations (banks).S.W.I.F.T. - This is a leading international organization in the field of financial telecommunications, which provides the operational, secure and absolutely reliable transmission of financial communications (including money transfers) on its own unique system, which is the largest world network of information transfer. The system provides its participants with special software to work on the network.
The headquarters of the system is located in La Hulpe, Belgium. Today, the community has combined more than 10,500 largest banks and financial organizations from 215 countries. Daily through the SWIFT system is more than a million transaction ( money transfers, interbank payments, etc.)
According to the SWIFT Charter in each country represented in the community, are created:
- National group of SWIFT members,
- SWIFT user group.
As of state in January 2015, Rossvift unites 565 users, of which almost a third, are the largest russian banks (Credit organizations) that carry out more than 80% of calculations through this system. By the number of users, Russia occupies 2 place after the United States.
By Russian laws To participate in SWIFT, banks will require a license to carry out operations in foreign currency. Entry into the system costs significant costs and nevertheless more than half of the Russian credit organizations Presented in SWIFT.
Entry into Association (RosSvift) and connecting new users to the SWIFT network consists of two stages:
Stage 1.. Introduction financial organization In the community members SWIFT SCRL:
- Filling and sending to SWIFT Introduction (Swift Undertaking) and questionnaires.
- Filling out introductory documents in electronic form (Software contract, safety equipment order form, etc.).
- Sending a bank's readiness confirmation in SWIFT (Readiness Confirmation).
Features SWIFT (Swift) translations
SWIFT (Swift) Translations are carried out worldwide among banks included in this community. Through the SVIFT system, remittances of enterprises, IP and individuals are held. When making a translation, knowledge of the SWIFT code (Swift-code) of the recipient's bank is required.Before issuing a translation on the system, it is necessary to check whether the banks of the sender and the recipient of the transfer by the participants of this international money transfers.
And SWIFT translations between individuals can be carried out:
- from account or without opening an account;
- with crediting at the expense or without enrollment (payment of cash);
- the address of individuals and legal entities (at the current account).
- bank details recipient translation;
- SWIFT translation recipient bank
- passport;
- availability of an account (ruble or currency, when transferring funds from the account;
- application for transfer to F.364-B or F.364-p.
According to SWIFT standards, prepared by the Russian National SWIFT Association and unified rulesFor transfers to make a translation, the sender must receive the following details from the recipient:
- SWIFT code of the bank;
- name of the bank;
- familia, name (patronymic - if possible) recipient transfer;
- recipient account number (consisting of 20 digits);
- the name of the bank's separation, if it is assigned a separate code;
- the name of the intermediary bank when the transfer of funds will be carried out with the participation of a bank who is not a payer's bank and the bank recipient (optional).
On the websites of banks, the participants of the Association this information is available. For example, to facilitate the transfer of funds from abroad Sberbank of Russia leads:
- the list of details that will be required to the sender, namely:
- name of the Bank - Sberbank;
- surname, name (and patronymic - if possible) transfer recipient;
- recipient account number (20 digits);
- passport details or address of the residence of the recipient (when paying translation without opening an account);
- the name of the branch of Sberbank of Russia;
- the number of the structural unit (when paying the transfer without opening an account);
- name of Cberbank Corresponding Bank of Russia (optional).
- SWIFT codes of all branches of Sberbank of Russia. The list you can find information - Head Offices, Address, Swift-Code, Branch Network Area.
What is the bank SWIFT code?
SWIFT code is a unique identification code of the bank or any other participant in financial calculations, which is used when transferring funds from one country to another between banks, participants in the SWIFT system, which are formed according to ISO 9362 (ISO 9362 - BIC).
The SWIFT code of the bank, the SWIFT system participant can be found on the Bank's website (in the Details or Translations section), and in addition, there are various SWIFT-codes of banks.
Further information on how the Swift bank code can be viewed.
Send SWIFT Translation through Bank
To send a translation by SWIFT (Swift):
- Present an employee certifying the person (passport);
- Provide the details of the recipient's bank and the recipient data. Order of the transfer of funds and payment documents can fill in a bank according to standard forms:
- name of the recipient bank or its SWIFT / BIC Code (code);
- recipient account number, for payments to EU countries and European Economic zone An account number is required in international IBAN format;
- name for a legal entity and its address of the location or surname name for an individual;
- Make a transfer amount by paying the commission in accordance with the Tariffs of the Bank.
Receiving SWIFT translation
To get a translation on the SWIFT system (Swift) you need:
- Visit any of the branches of the bank;
- Present an employee certifying personality
- And if necessary, a document confirming the legality of this currency operation;
- Get money.
Disadvantages of SWIFT.
This type of translations have two drawbacks that it is desirable to remember and take into account when using:
- If the translation is credited to the account, then when it is deregted, cash turns on the rate to obtain cash from the account.
- If the translation is carried out through the intermediary bank, the latter will definitely hold out its commissions out of the sum of the transfer, which for recipients of small translations, it turns out an unpleasant surprise and significant losses.
- Banks do not provide for the ability to cancel translation.
Tariffs for translations
Unified Mesh Tariffs for Swift translations does not exist. Most banks declare together that: - "Tariffs for SWIFT transfers are much more accessible to the tariffs of other transfers systems" and each - establishes its tariffs. For example:
- Cost of international translations SWIFT from Dalcombank - From 10 US dollars.
- Sberbank of Russia
- According to translations in US dollars, euros, Russian rubles: - 2% of the amount (min. 25 US dollars, 40 euros, 300 grew. Rubles) in the hryvnia at the rate of the NBU on the day of translation.
- According to translations in other currencies: - 2% of the amount (min. 50 euros) in the hryvnia at the rate of the NBU on the day of translation.
- Rosavtobank - The Translation Commission depends on the transfer currency and is established in accordance with the Tariffs of the Bank.
- Bank "Levoberezhny" - The transfer fee is charged at a fixed rate regardless of the transfer amount.
- OJSC Krainvestbank - USD, EUR, GBP, CHF, CAD - 0.5% of the transfer amount, min - 25 units. Currencies, MAh - 150 units. Currencies.
Safe quick money transfer, messages worldwide in SWIFT formats, requires compliance with the rules of registration and sending information.
How to send SWIFT translations
Important! Incorrectly compiled applications due to the incorrectly provided information by the client, complicate the transfer on the system; Feedback, making changes, edits, increases current costs in the form of new commissions and fines, especially in case of an error recognition on the side of intermediary banks.
Such a payment may take up to 30 days. In compliance with the standards, the delivery time from Russia is usually 1-3 working days, but is regulated by five bank days.
Types of transactions and registration requirements
Millions of operations are held on the international payments daily, differing from the type of values: currency, shares, paper, traveler checks, other documents. IN Russian Federation Payment operations are carried out in currencies:
- rubles;
- euro;
- u.S. dollars;
- swiss frank;
- pound sterling.
When using the Swift service, compliance with the rules and attentive completion of documents are required:
- The form of the order is filled in English. You can get details at the recipient, better an electronic copy to exclude errors when rewriting.
- Departure without the use of a personal currency account (on requisites) will have an increased rate.
- The Commission is charged for the products and services provided.
- Currency legislation of Russia restriction in the amount of $ 5,000.
For a successful timely execution of the payment order, you must provide valid information:
- SWIFT code, international name of the recipient's bank;
- in the presence of an intermediary bank: the name, code;
- FULL NAME, if the payment is in the address of an individual
- when using a transit account instead of personal, document confirming identity document;
- account details, full name, if the instructions to the address of the legal entity;
- Iban (on demand);
- documents for compliance with the purpose of payment (with the amount of over $ 5,000).
- Come to the branch of the community member. More than 600 Russian credit institutions are part of the Swift.
- Report an operation staff features, a transaction is made from the current account or without it.
- Provide the original of your general passport, transfer the details for the payment order.
- At the form of the organization, fill the necessary fields.
- Make money through the cashier, pay the commission, according to the current tariffs.
- VTB - 1.5% of the amount, at least 15 and not more than 350 cu (in transaction currency);
- Sberbank - 1% for sending in dollars (no less than 15 and not exceeding $ 200);
- Sberbank - 2% per ruble (fixed minimum amount 50, but not over 1500 rubles);
- Opening - 1%, minimal - 30 USD. (dollars or euro), maximum - 200 cu
Algorithm of actions:
Commissions for using SWIFT.
System feature - payment of the execution of the payment order falls on the shoulders of both parties. The addressees are constant consumers, therefore there are loyalty in terms of the selection of currency, the absence of limits of the amount (subject to the legislation of the countries of the Parties). For large listings, the bank transfer SWIFT is as efficient as possible and is not profitable below 1000 dollars.
There are no single digits, each member of the system establishes its tariffs for the services of international transfers Swift. The Commission for the sender will be significantly lower if transferring from its own account.
Tariffs of some Russian banks for making a payment in SWIFT format:
Is it possible to return translation?
You cannot withdraw executed payment. Before receiving money as a recipient, on a written application of the Client with an explanation of the cause, the payment of payment is possible. The Commission in this case is not refundable.
Among the diverse information in the banking sector, such an abbreviation, like Swift, is quite common. The logo of this system is a form of a planet with meridians, the abbreviation itself is located exactly in the middle of the image. And what is the swift translation?
The SWIFT system was formed in 1973 - 239 different banks from North America and Eastern Europe decided to unite for the creation of the community, the name of which is deciphered as a community of worldwide interbank financial telecommunications.
Today, Swift members are more than 10 thousand organizations, of which about a thousand are large corporations. During the day, through this system, more than a million different transactions about interbank payments, money departures and securities. For the year there are about 2.5 billion payment orders, so SWIFT can safely call popular and popular on all continents.
Many people are interested in the question of what is Swift translation. First of all, it is worth noting - similar actions are carried out worldwide among those banks that are parties to this community. Examine cash transfer can be between individual entrepreneurs, individuals or legal entities, it is necessary to know the SWIFT code of the recipient's bank. The client can independently choose the most suitable currency for the operation, which is also convenient enough.
How to send finances
The Bank of Russia joined the Swift in December 2014. If you need to make a translation, it is initially worth finding out if the sender's bank and the recipient bank members of the international system are. The sender will require the following points:
- a document confirming personality;
- details of the recipient bank;
- Swift-code of the recipient's bank;
- application for money transfer;
- the presence of ruble or currency account.
Translation can be made with crediting to the account, or without it - receipt of cash, as well as the current account of legal entities. The most popular can be called transfers from account to account. non-cash in a waySince in this case there are no limits for the amount sent. If finances are translated by a non-cash, then the purpose of the payment must be confirmed by the relevant documents by providing them with the Bank.
Interested in what SWIFT is a translation, it is also necessary to know about some standards that are prepared by the Russian National SWIFT Association. According to the standards, it is necessary to learn a number of recipient details for sending money to the sender. Among them are the name and swift bank code, as well as the name (patronymic - if available) of the recipient. You will also need an indication of the residence of the recipient, or his passport details, the name of the bank's separation, the number of the structural unit, as well as the name of the intermediary bank, if the money will be translated with the involvement of the bank, which is not a bank of the sender and the recipient.
Information for each of the above details must be specified in English. As a rule, accurate information about the right English writing details can be taken on the websites of banks that are members of the Association.
For what cases fits the Swift:
- payment for the purchase of foreign real estate;
- direction of a large amount abroad in foreign currency with minimal losses;
- payment abroad goods or services;
- sending money abroad to their relatives or friends;
- payment for equipment or materials purchased in a foreign company.
Steps of sending money in SWIFT
First of all, the sender needs to come to any of the banking offices and present a passport. Then it is necessary to present all bank details of the recipient and its data. At the same time, an order to send funds and payment document Can fill in special forms right in the department. After that, the sender makes the amount of money transfer and pays for the amount of the banking commission.
If the situation is reverse and man needs to get money on the SWIFT system, it is still easier. It is enough to come to the nearest banking department with a passport and, if necessary, with a document confirming the legality of the currency operation, after which you can safely get money.
Some detailed information about the bank code
Separately, it is worth telling what is a bank swift code. This is an identification unique code that consists of 8 or 11 characters from the letters in combination with numbers. This code is necessary in order to quickly read information about the name of the bank, country, city, branch code.
Possible disadvantages of such an international translation
Like any other banking system, SWIFT also has some imperfections. Among them, it is possible to distinguish the fact that in Swift banks do not provide for the ability to cancel translation. In addition, if the translation will be credited to the account, then if the recipient will take it in cash, he will have to pay the tariff for cash from the account. The third disadvantage - when using an intermediary bank, he will take the commission from the amount translated, which may be a significant weight loss for some recipients.
Advantages Swift translation in foreign currency:
- costs by analogy with the Commission in other monetary systems will be minimal;
- sending money is possible to carry out almost any country in a short time - from 1 to 3 days;
- Swift guarantees safety, speed, as well as the confidentiality of each payment;
- the possibility of sending to both individuals and organizations;
- the ability to send money from both the account and without its creation.
Thus, we can safely say that international System SWIFT money transfers are considered very popular and fairly stable and high-quality. It guarantees an ambulance delivery of funds with complete privacy and numerous benefits both for the sender and for the recipient. As the Swift is constantly evolving, over the years it covers an increasing number of countries and their banks, at the same time even more accelerating the process of transferring money.
