Fast international payments, everywhere it matters

A money transfer to a country abroad, in a currency other than the euro (for example, the US dollar), is carried out using a local network or the SWIFT network: Society for Worldwide Interbank Financial Telecommunication.

The SWIFT system includes more than 10,000 banks, spread over 200 different countries. Note that the use of a SWIFT transfer is mandatory once the international transfer is made in foreign currency, even if the beneficiary's bank is in the eurozone.Some disadvantages of this transfer method: the percentage of the commission charged by the banks and the time it takes to receive the funds. You can also have money transferred from abroad.

Therefore, it may be useful to consider alternative solutions if your company regularly needs to make transfers in foreign currency abroad. For example, our X Card allows you to pay in foreign currencies, without commission.

Note that the use of an international transfer is mandatory once the international transfer is made in a foreign currency, even if the beneficiary's bank is in the eurozone. Thanks to our partnership with Wise, you can also make foreign currency transfers via local networks with Qonto.

1. go to a branch of your bank;
2. log in to your online account or your bank's mobile app.

1. the beneficiary's details (name, first name, and account number or IBAN code);
2. the BIC/SWIFT code of the recipient's bank;
3. the address of the beneficiary's bank in some cases.

The speed of the transfer can vary depending on the transfer method used, the currency, the country, and the amount of the transfer.

Thanks to the partnership with Wise, transfers made from your Qonto account via the local bank network method can be credited within a few seconds to a maximum of 3 working days.

For SWIFT transfers, the timeframes can be longer. It takes approximately 4 to 5 working days for the money transfer to be effectively visible on the beneficiary's foreign account.

The timeframe of an international transfer can be extended depending on the number of intermediary banks through which the funds pass before reaching the payment recipient.

Moreover, certain reasons can delay the processing time of an international transfer:

1. blocking of the international transfer by the sender's or recipient's bank;
2. incorrect bank details, for example, a typo in the IBAN code or in the SWIFT code;
3. transactions conducted online, outside the branch's opening hours (evening, weekend, or holiday);
4. international transfer not ordered by the sender. To avoid waiting for money that has not been sent, ask your customer for the transfer proof provided by their bank;
5. the amount of the international transfer is higher than the sender's maximum limit;
6. insufficient funds in the account. This issue usually concerns recurring transfers.

SWIFT is an international network that banks use to securely send payments to each other. In an international transfer, the SWIFT code (also known as BIC) helps identify the correct recipient bank.

This code is especially used for payments outside the SEPA zone to ensure that the money reaches the correct bank safely. At Qonto, you can transfer money abroad to more than 150 countries.

For a SWIFT payment, you usually need to enter the SWIFT or BIC code of the recipient's bank. This code consists of 8 or 11 characters and identifies the bank and sometimes the specific branch.

Additionally, you often need the IBAN or account number of the recipient, along with the account holder's name and possibly the bank's address.

You make a SWIFT payment through your bank or business account by initiating an international transfer. You enter the amount, currency, and recipient's details, such as the IBAN or account number and the SWIFT or BIC code of the bank.

After you confirm the payment, the amount is sent via the international SWIFT network to the recipient's bank. Depending on the country and currency, this usually takes one to several working days.