How can I submit SWIFT transfers?
Updated this week

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.

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.

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

  1. Go to the Business Account section

  2. Click on the Transfers tab and click on Make a transfer

  3. Select International transfer in foreign currency

  4. In case you have several accounts, select the one you want to debit;

  5. 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.

  6. Select Bank country and Currency

  7. Enter the transfer reference and amount

  8. Add an Attachment such as a bank statement or an invoice, so the transfer can be verified

📱 On your mobile app

  1. Go to the Menu section

  2. Click on Transfers

  3. 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.

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