You can now make a foreign currency transfer through our partner Wise which enables you to process it using local networks, in addition to SWIFT.
This solution is quicker, cheaper and offers the same frictionless experience as Wise. You can now send GBP to the UK, INR to India, AUD to Australia (and many more currencies), which will be credited from a few seconds to up to 3 working days. The precise receiving time will be indicated on your app when you will make a transfer.
You will be able to send USD to any country from the list with the SWIFT network. All other currencies than USD are only sendable to their home country (find the list of available countries below).
However, you will also have the option to send USD to the US using local network (faster).
You can make an international transfer with the same level of speed and easiness as with Wise, directly from your Qonto account. You do not need a Wise account.
What is the fee?
The fees for SWIFT international transfers in foreign currencies applied will be as follow.
Please note that they have been revised in order to offer you a more competitive offer with several improvements!
much faster turnaround times (some of them instantly)
we will be able to estimate the date of reception of the transfer for your beneficiary
the list of accessible countries is much larger
For 75% of your transactions, we will be able to execute your transfers via our partner's national account network.
Here we distinguish between:
standard currencies, such as USD / GBP / CHF
non-standard currencies (INR, AED, CAD, ILS, HKD, TRY, THB, UYU, RON, NOK, KES, CRC, CLP, HUF, DKK, VND, MXN, PLN, GHS, AUD, IDR, MAD, SGD, CZK, ZAR, SEK, KRW, JPY).
Depending on your subscription, you will have a higher or lower rate.
Cost via our partner's national accounts:
minimum fee of €5 or application of the following rate if the fees are greater than €5.
For USD transfers to a non-US country, a fixed fee of €5 or €15 will be added depending on the payment option chosen by our partner's algorithm and which will be the most advantageous for you: SHA or OUR.
| Pricing local rails | Pricing local rails | Pricing SWIFT - SHA | Pricing SWIFT - OUR |
|
USD to USA, GBP, CHF | All other currencies (INR; MAD; etc) |
USD to non-US country |
USD to non-US country |
Basic | 0,80 % | 1,80 % | 0,80 % + 5 € | 0,80 % + 15 € |
Smart | 0,80 % | 1,80 % | 0,80 % + 5 € | 0,80 % + 15 € |
Premium | 0,56 % | 1,56 % | 0,56 % + 5 € | 0,80 % + 15 € |
Essential | 0,56 % | 1,56 % | 0,56 % + 5 € | 0,80 % + 15 € |
Business | 0,56 % | 1,56 % | 0,56 % + 5 € | 0,80 % + 15 € |
Enterprise | 0,56 % | 1,56 % | 0,56 % + 5 € | 0,80 % + 15 € |
| Minimum fee = 5 € | Minimum fee = 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? ⏱
You will be able to submit international transfers in foreign currencies at anytime and the cutoff for payouts actually differ according to the currency.
It is necessary to consider the bank holidays of the banks through which the transfer will pass.
Different time zones can also affect the delay of transmission and reception of the transfer.
👆Good to know:
International transfers in foreign currencies can be submitted during markets open hours only for most of the currencies.
This means that most of banks don’t process transfers during weekends and bank holidays. In a case of international transfers in foreign currencies, 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 for most of the currencies.
At this day, your Qonto account does not allow you to transfer currencies to individuals that are not businesses but professional such as contractors/freelancers are allowed.
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 international transfers in foreign currencies)
Currency | Information required | Delay | Additional information |
AED | • Beneficiary’s full name: up to 35 characters | up to 1 working day |
|
AUD | • Beneficiary’s full name: up to 35 characters | up to 2 working days | There are no name checks, it is then extremely important to input the account number correctly. |
CAD | Local bank (local EFT): | up to 1 working day |
|
CHF | • Beneficiary’s full name | up to 1 working day | Payments to CHF are subject to Swiss banks' compliance checks, which can delay the crediting to the recipient. |
CLP | • Beneficiary’s full name: up to 35 characters | 1 working day |
|
CRC | • Beneficiary’s full name | up to 1 working day |
|
GBP | • Beneficiary’s name or business name Account details | instant | We currently cannot process payments to National Savings & Investments bank (NS&I) sort codes due to their terms and conditions. |
HKD | • Beneficiary’s full name | 45minutes on working days | It is not possible to send payments to 2 virtual banks for now, which are Tap&Go and O! Epay. |
HUF | • Beneficiary’s full name | up to 1 working day |
|
IDR | Local bank (Inter bank transfer): | up to 1 working day |
|
ILS | • Full name of the account holder: up to 35 characters | up to 1 working day | Check that the recipient’s name you indicate is identical to the one on their bank account as, although there are no exact name matching rules, beneficiary banks can carry out manual reviews prior or after the settlement. This could result in the reversal of funds. |
INR | Local bank (Bank transfer): | Bank transfer: up to 1h30 on working days | It is not possible to send funds: |
JPY | • Beneficiary’s full name, usually in Katakana | from 5 to 20 minutes depending on the recipient’s bank |
|
KES | • Beneficiary’s full name | instant | It is not possible to send funds to business recipient’s mobile wallets.
⚠️ The following beneficiary banks are not supported: |
KRW | • Beneficiary’s full name: up to 256 characters | up to 15minutes |
|
MAD | • Beneficiary’s full name: up to 35 characters | up to 2 working days | Some banks in Morocco charge receiving fees: Al Barid, Attijariwafa, BMCE, BMCI, Crédit du Maroc and Société Générale Maroc may charge a receiving fee of up to 20 MAD. |
MXN | • Beneficiary’s full name: up to 40 characters | instant |
|
MYR | Local bank transfer: | up to 1 working day |
|
SGD | Local bank (Account transfer): | up to 1 working day | For transfers inferior to 200k SGD, they will be treated as instant transfer. It will take up to 1 working day for transfers above this amount. |
THB | • Beneficiary’s full name: up to 35 characters | from 15 minutes up to 20h on working days depending on the recipient’s bank | Due to regulations, you can only send 50,000 THB or more per transfer to the 3 following banks : |
TRY | • Beneficiary’s full name: 50 characters | depends on the amount | Payments to Northern Cyprus should be instructed as regular TRY payments. |
USD | USD is the exception where you can use the local payment method or the SWIFT network. | ACH : 1-3 working days | We do not support For Further Credit (FFC payments). |
UYU | • Beneficiary’s full name | up to 2 working days |
|
ZAR | • Beneficiary’s full name: 35 characters | up to 2 working days | ⚠️ Every sender-recipient pair needs to fill in a mandate form once per calendar year when the payment is sent out. |
The receiving times indicated above are estimations. The specific delays per currency will be indicated on your interface on the One Last Look screen, before validating the transfer.
List of accepted countries ✅ (outgoing international transfers in foreign currencies)
Albania
Algeria
Andorra
Angola
Antigua and Barbuda
Argentina
Armenia
Australia
Austria
Bahrain
Barbados
Belgium
Benin
Bhutan
Bolivia
Bosnia and Herzegovina
Brunei Darussalam
Bulgaria
Burkina Faso
Canada
Chile
China
Costa Rica
Croatia
Cyprus
Czech Republic
Denmark
Dominica
Dominican republic
Ecuador
El Salvador
Estonia
Ethiopia
Fiji
Finland
France
French Polynesia
Gabon
Gambia
Georgia
Germany
Ghana
Greece
Guatemala
Guinea
Guinea-Bissau
Guyana
Haiti
Honduras
Hong Kong
Hungary
Iceland
India
Indonesia
Ireland
Israel
Italy
Ivory Coast
Jamaica
Japan
Kazakhstan
Kenya
Kuwait
Laos
Latvia
Lebanon
Liberia
Liechtenstein
Lithuania
Luxembourg
Malawi
Malaysia
Mali
Malta
Mauritania
Mauritius
Mexico
Micronesia
Monaco
Montenegro
Morocco
Namibia
Nepal
Netherlands
New-Zealand
North Macedonia
Norway
Palau
Paupa New Guinea
Paraguay
Peru
Poland
Portugal
Romania
Rwanda
Saint Lucia
Saint Vincent’s & Grenadines
Samoa
San Marino
Sao Tome and Principal
Senegal
Serbia
Seychelles
Sierra Leone
Singapore
Slovakia
Slovenia
South Africa
South Korea
Spain
Sri Lanka
Suriname
Sweden
Switzerland
Taiwan
Tajikistan
Tanzania
Thailand
Timor Leste
Tonga
Tunisia
Turkey
Tuvalu
Ukraine
United Kingdom
United States Of America
Uruguay
Uzbekistan
Vatican
Vietnam
How can I initiate an international 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 case you have several accounts, select the one you want to debit
Select the amount and the currency you want to send
Select a beneficiary or enter the information about a new beneficiary. We will save this beneficiary automatically so that you won't have to create it again
Enter the transfer reference (optional)
Add an Attachment such as a bank statement or an invoice, so the transfer can be verified (for transfers of more than €30 000)
Take a last look on the transfer details, and click on Submit
📱 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
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.
👆Good to know:
As part of our partnership with Wise, the following currencies will no longer be supported by Qonto:
PLN
TND
CNY
DKK
CZK
NOK
RON
SEK
SAR
NZD
BHD
Please note that our team is working hard to restore the availability of these currencies.
In the meantime, as a workaround, you can send USD to those countries (some banks support USD or can convert USD to the intended currency - this can be checked with the beneficiary).