Hey bunqers 🌈,
As you know, there are different types of bank transfers. One of them is called SWIFT and some of you use it pretty often.
SWIFT payments are international transfers processed via the SWIFT international payment network - unlike regular SEPA payments. This network is one of the largest in the world. Most of these payments are from banks that aren’t within the SEPA (EEA) region. 🌍
How does SWIFT work?
To get your money to its destination safely and securely, international transfers are processed via our licensed partner banks using the SWIFT network. This is standard practice and ensures secure and compliant processing — think of it as a connected web of trusted banks that work together to move your money across the globe.
Depending on where you're sending money and in what currency, it might pass through a few different banks before it arrives to its intended destination. Every single SWIFT payment gets its own unique tracking number, called a UETR (Unique End-to-End Transaction Reference), so you can follow its journey.
How long does a SWIFT payment take to arrive?
When you expect a SWIFT transfer, it may take up to 5 business days until you receive it. The longer waiting time for this type of payment is due to its specific way of processing your funds that have to be transferred from a bank outside of the EEA banking system. Sometimes, it takes longer for the information to be processed our way — and the exact timing can depend on a few things:
The destination country and currency.
The number of partner banks in the chain.
Standard security and compliance checks.
Currency conversion processing time.
Weekends, public holidays, and time zone differences.
You can learn more about the processing times here 🚀
Keep in mind that in order to receive SWIFT transfers, you need to fully verify your account. If you’re not verified, the payment will bounce back to the sending bank.
What if my SWIFT payment hasn't arrived?
If your payment is taking longer than expected, don’t worry! It’s often due to a small hiccup. Here are a few simple steps to take:
Double-check the recipient's details: A small typo can cause a large delay. Please make sure that you've entered correct beneficiary details: this includes their IBAN, full name, and address.
Share the UETR with the recipient: you can find the unique tracking number (UETR) for your payment right in the transaction details in your app. Share this code and a transaction statement with the recipient — it’s the fastest way for their bank to find out where the payment is.
Keep an eye on normal processing delays: payments can be held for a little while for standard procedures that keep your money safe. These can include compliance checks by us, our partners, or other banks in the chain.
If more than 5 days have passed and you've already checked the details above — you can always start an in-app payment investigation for a SWIFT transfer which hasn’t arrived to or from your account. Just follow the simple steps here 🕵️
How much do SWIFT payments cost?
All plans, regardless of the amount, have a €5 fee for receiving SWIFT payments. However, if the bunq user (receiver/beneficiary) pays the fee, it is €10.
One time FX payments
You can always rely on our app’s built-in integration to send money in over 40 currencies. You can learn all about how it works here!
How do I send a SWIFT payment?
Go to 🏠 Home
Click on Pay
Select your currency by tapping on Choose Currency
Enter the amount
Tap on "Next"
Choose recipient
Tap on "Send Payment"