Question: How can I submit SWIFT transfers?

Answer: Qonto allows you to make transfers from most countries in the world, in most currencies, via the  SWIFT network  (Society for Worldwide Interbank Financial Telecommunication).   What does that mean?   🤔 It’s possible to send Zlotys (PLN) to Spain, or Yens (JPY) to Belgium. You can, of course, also send US Dollars (USD) to the United States, or Sterling Pounds (GBP) to the United Kingdom. Your choice. However, it’s not possible to send Euros (EUR), to the United States for example. On the other hand, it is possible to make transfers in the SEPA zone, in Euro, by following the  SEPA transfer procedure .   👉 See below  In which currencies and to which countries ?     What is the fee? The fees for SWIFT transfers applied will be as follow :  5€ for ALL PLANS and decreasing percentage according to the plan you chose. Solo - Basic:  1% Solo - Smart:  0.9% Solo - Premium:  0.8% Team - Essential:  1% Team - Business:  0.75% Team - Entreprise:  0.5%   💡 Good to know: the exchange rate indicated will in most cases be the rate applied to the transaction, but in rare cases it may be a different rate. It can also happen if you delay in validating the transfer or if a request for information is sent to you by our Compliance department.   👉 Please note that all transfers that go through the USA, even if it is only an intermediary bank, have a fee of 20$.     What's the receiving time? ⏱ The time to receive a SWIFT transfer is  5 business days . There is no bank exchange on weekends, or during public holidays and interbank closures.  Different time zones can also affect the delay of transmission and reception of the transfer.   👆 Good to know:  SWIFT transfers can be submitted during markets open hours only.  This means that most of banks don’t process transfers during weekends and bank holidays. In a case of SWIFT transfers, please keep in mind that you have several holidays around the world, where banks are not working. Your transfers will be processed the next open day during markets open hours. ​ At this day, your Qonto account does not allow you to transfer currencies to individuals abroad. In case you want to pay an individual, please provide a contractual agreement that highlights the payment purpose. Your transfer might be declined if supporting documentation is not provided, and the euro equivalent might be affected when we credit back your account.   List of accepted currencies ✅  (outgoing SWIFT transfers) AUD Australian dollar AED United Arab Emirates Dirham BHD Bahraini Dinar CAD Canadian dollar CHF Swiss franc CNY Chinese Yuan (Renminbi) CZK Czech Koruna DKK Danish Krone GBP Pound sterling HKD Hong Kong dollar HUF Hungarian forint ILS Israeli Shekel JPY Japanese yen NOK Norwegian krone NZD New Zealand dollar PLN Polish złoty RON Romanian leu SAR Saudi Riyal SEK Swedish krona SGD Singapore Dollar THB Thaï Baht TND Tunisian Dinars TRY Turkish Lira USD United States Dollar ZAR South African Rand   List of accepted countries ✅   (outgoing SWIFT transfers) Australia Austria Bahrain Belgium Bolivia Bulgaria Cameroon Canada China Croatia Cyprus Czech Republic Denmark Egypt Estonia Finland France Germany Greece Hong Kong Hungary Ireland Israel Italy Ivory Coast Japan Jordan Kuwait Latvia Lithuania Luxembourg Mali Malta Morocco Netherlands New-Zealand Norway Oman Poland Portugal Qatar Romania Saudi Arabia Senegal Serbia Singapore Slovakia Slovenia South Africa Spain Sweden Switzerland Thaïland Tunisia Turkey United Arab Emirates United Kingdom United States     How can I initiate a SWIFT transfer? 💻 On your web app Go to the  Business Account  section Click on the  Transfers  tab and click on  Make a transfer Select  International transfer in foreign currency In case you have several accounts, select  the one you want to debit ; Select a beneficiary  or  enter the information about a new beneficiary : complete name as indicated on the RIB (name/first name / company name), IBAN, VAT rate, Category or Associated labels, etc. We will save this beneficiary automatically so that you won't have to create it again. Select Bank country and Currency Enter the transfer  reference  and  amount Add an  Attachment  such as a bank statement or an invoice, so the transfer can be verified 📱 On your mobile app Go to the  Menu  section Click on  Transfers Click on the  +  symbol on the top right corner You will have 2 choices: add an invoice add the transfer details 💡 Once you have validated your transfer, if you realize that you have made an error with the beneficiary,  a simple modification will not be sufficient  (our system will not take it into account). It is necessary to cancel the transfer (contact our support if necessary), delete the beneficiary from your list, and create a new one. You can then make your transfer by choosing the updated beneficiary.   You have other options in order to personalise your transfer. Click on the toggles of the following options you want to use: Beneficiary notification , in case you want us to send an email to the beneficiary with transfer details Bookkeeping details , which allows you to define beneficiary VAT rate, custom labels in case you have it in your price plan, and a note to remember what this transfer is about Click on  Continue Take a last look on the transfer details, and click on  Submit You will probably be asked to confirm the operation with you mobile phone ​ 💡 Please keep in mind that a minimum amount will be necessary in order to execute some swift-out transfers, around 10€ for all currencies / 36€ for Kenyan Shillings.