SWIFT is a Society for Worldwide Interbank Financial Telecommunications.

This system allows you to transfer funds from your account to a specific account at another bank.

Advantages of SWIFT transfers:

• favorable rate of money transfer;
• The recipients can be both individuals and corporate clients.

To send a SWIFT payment in foreign currency you will need:

• name of the recipient’s bank;
• SWIFT-code of the recipient’s bank;
• beneficiary's account (or international bank account number - IBAN);
• for an individual - last name, first name, address (residence) of the recipient;
• for a corporate client - name, address (residence) of the recipient;
• description of payment purpose (purpose of payment, invoice number);
• depending on the amount of payment - supporting documents (contracts, agreements, invoices, documents of affinity, etc.). The supporting documents must be legalized in accordance with the procedure established by legislation.

To receive a SWIFT payment in foreign currency you need:

• to inform the sender of your bank account details.

Transfers may be made on non-trade operations and are not applied to transfers related to investment and business activities.

Cost of sending SWIFT-payment:

See also: payment details.