Swift transfer: how much does it cost and what documents are needed. Transfers swift (swift): interbank payment system

For external monetary transactions (abroad), different rules apply. The need for such translations is high; many citizens work according to this scheme. However, for those who first encountered similar problem, you need to know the swift code of Sberbank. Transfer without it Money impossible. This is one of the key nuances in such an operation.

First of all, it is necessary to consider what kind of code this is, for what purposes it is needed and understand the intricacies of this formulation. As already mentioned, without it it is impossible to carry out a transaction into the account of a client of a financial institution.

Swift code of Sberbank of Russia is a special cipher awarded to an organization by the international banking system. Swift allows the bank to carry out financial transactions around the world, thereby taking the institution to a new level of operation. To receive this code, you must undergo special registration (for the bank, not for the client).

With its help, all operations are carried out much faster. In some cases, when ordering an urgent payment, the money will be transferred within 5 minutes.

Translation using code

Swift transfer of Sberbank is:

Guarantees and reliability. The sent amount will be delivered to the recipient. The international community is responsible for the implementation of operations, which is the main guarantor of a successful transaction;
Information sent via the Swift system is encrypted to ensure complete customer security. The details of the transaction are known only to two parties - the sender/recipient;
Efficiency of translation. The operation is completed in 20-25 minutes. In the case of a quick transaction – 5 minutes;
All data is processed automatically, there is no need to engage handmade on information processing.

S.W.I.F.T. – abbreviated name of the Community of Worldwide Interbank Financial Telecommunications. It is used to transfer financial data internationally. In Russian the name sounds like “swift”. The community is engaged in interbank money transfers using the specified system.

History of Swift

The community was created in 1973. This happened in the process of uniting more than two hundred banks from fifteen countries of the world. The purpose of creating the community was to share financial data.

As a result, an international organization has emerged, thanks to which data is transmitted quickly, safely and reliably. A special one was developed for this work. software, connected to the network.

The community center is located in Belgium. Today, more than ten thousand banking organizations from more than two hundred countries have joined this organization. In Russia, the community is represented by the Russian National SWIFT Association (ROSSWIFT). Last year the number of users of this system exceeded five hundred. Of these, a third are the largest banks. Russia has taken second place in this area after the United States.

To participate in this program, banks must first obtain a license authorizing transactions in foreign currency. This process is expensive.

Features of Swift translations

Such transfers are made by many banks that are part of this community. They work with businesses, entrepreneurs and individuals. To make a transfer, you must enter the recipient's bank code.

And, quite understandably, before sending the specified transfer, you need to know for sure whether both banks participating in the process are included in the transfer system.

How are SWIFT transfers made?

With and without opening an account.
Non-cash transfer or with cash withdrawal.
Individual or legal entity.

What is needed to complete a transfer?

Recipient details.
SWIFT code of the specified bank.
Sender's passport.
Check.
Application for transfer.

The most popular non-cash transfers on account. In this case, there are no restrictions on the maximum amount. But with such a transfer, it is necessary to submit documents to the bank confirming the fact of payment.

There are also certain requirements for the format of the translation. The following is required:

SWIFT code;
name of the banking organization;
personal data of the recipient;
twenty-digit account number;
passport details;
other necessary data and details.

All details must be exclusively on English language. Banks included in the transfer system post all information on their official websites.

Swift transfer in Sberbank

If you need to transfer money abroad to a person living there, the SWIFT payment system service at Sberbank is suitable. These transfers are carried out by more than six thousand banking organizations.

Non-cash transfers are very popular in this system. The thing is that there are no restrictions on the transfer amount. Users are also free to choose a currency: it can be rubles or the currencies of another state.

The funds are sent within two days. It is not possible to cancel specified transfers.

To make a transfer you need to know the data specified in this article. After the details are communicated to the operator, the transfer amount and the commission for the transaction are deposited into the cashier. Depending on the currency of the transfer and the chosen method, the size of the commission also depends. The commission cannot be more than two thousand rubles or two hundred US dollars. Considering what has been said, such a translation is not at all difficult to produce. It is necessary to know the exact details of the recipient and his bank. In this case, the transfer period is no more than five days.

Swift transfer is not available in Sberbank Online. The Online service provides the possibility of transfers only to Russian banks and does not provide the possibility of transfers to accounts abroad. To make a transfer to a person located abroad, you can use the regular SWIFT transfer service. Don't look for it in personal account on the Sberbank website.

The SWIFT transfer system is on a par with such global systems as Western Union and Unistream. They are the most popular today. But SWIFT is also preferable in some cases. First of all, this is due to the lower commission size. Therefore, they are widely used when it is necessary to pay for services - studies, medical treatment. Using the SWIFT system, people book hotel rooms, pay for participation in conferences, or transfer money to relatives living in other countries. The transferred money ends up in the accounts of the people specified by the sender.

SWIFT provides advantages that are not available to other international money transfer systems. You can select the transfer currency. This is done by instructing the bank to purchase the necessary banknotes of the state to which the shipment is being made. The bank, having purchased banknotes, will send them according to the specified data.

The recipient does not waste his time to receive the transfer, except for the need to cash it. In addition, you can send a transfer to almost any country if the recipient has an account there.

SWIFT transfers are characterized by an increased security system, which guarantees the delivery of funds to the recipient.

How to do remittance abroad through the SWIFT system and what are the benefits of using it?

Advantages of the SWIFT system

One of the indisputable advantages of international SWIFT payments is their availability in a large number of foreign countries and cooperation with most banks. Due to the fact that the system uses correspondent banks, you can send and receive a SWIFT transfer even in a bank that does not directly cooperate with the system. Other positive aspects of this system:

accuracy of transfer delivery - funds are sent directly to the specified account;
security - the system securely stores confidential customer data;
guarantee of timely delivery of funds;
no maximum amounts for sending (but there is a need for coordination with currency legislation);
wide choice of currencies;
the ability to send transfers to the accounts of individuals and legal entities;
moderate commissions when sending large sums of money.

What is SWIFT payment?

SWIFT payment is an international transfer of funds between banks, individuals and legal entities through the SWIFT system. Participants of this system on this moment are more than 10 thousand financial corporations from 210 countries. This makes it possible to quickly send international payments in various currencies to most developed countries in the world.

The SWIFT system is suitable for sending a transfer in the following cases:

Sending a large sum abroad while minimizing losses on commissions.
Payment for large purchases abroad.
Payment for services of foreign companies;
Transfer of large sums of money to individuals for other purposes.

What is a SWIFT transfer and how is it transferred? Each bank in this system has its own unique SWIFT code. When you send a payment, the funds are credited directly to the account of the person to whom they are intended. The sender has the opportunity to choose the currency in which the transfer is credited, regardless of the currency in which the transfer is made.

The transfer can go through a correspondent bank - a large global bank that sends funds to the final recipient's account in a bank not connected to the SWIFT system. In this case, you have to pay an additional commission from the correspondent bank.

How to transfer funds abroad?

To transfer funds abroad, the sender needs to know the full SWIFT details of the individual or legal entity to whom the transfer is sent. Details include:

name of the recipient's bank;
its code in the SWIFT system;
the name and SWIFT code of the correspondent bank, if it will be used for the transfer of funds;
recipient's account number (or transit bank account number);
name and surname of the recipient (if there is no account, you must indicate his passport details).

Details in the SWIFT system must be provided in English. The recipient can request them from the bank where he is served and transfer them to the sender to avoid errors.

When making a transfer, the sender must provide:

identification;
details of the recipient's bank;
application for sending a transfer indicating the recipient’s details;
current account in the bank where the shipment takes place.

Opening a current account is not mandatory, but its absence affects the transfer fee, so for repeated sending of payments it is more profitable to open a current account from which to transfer funds in the future.

If necessary, the banks from which the SWIFT payment is sent may request documents on the legality of the transfer. These could be service agreements, contracts with companies, invoices, confirmation of relationship with the recipient, etc.

How to receive SWIFT money transfers in Ukraine?

The delivery time for a bank transfer via the system ranges from 1 to 3, sometimes up to 5 banking days. To receive a SWIFT payment, the recipient only needs to provide his exact details to the sender and the money will be in the account within the specified period. When receiving a payment, you need to take into account commissions: the system itself, the correspondent bank that transferred the payment, and the Ukrainian bank. In Ukraine, you will have to pay from 0.6 to 2% of the amount for cash withdrawal via SWIFT payment.

When the need arises to send transfers abroad, most of our citizens usually give preference to such international transfer systems as Western Union, MoneyGram and Unistream.

However, in some cases it is much more profitable to use the SWIFT messaging system (SWIFT), which allows you to transfer fairly large amounts much cheaper than more popular instant transfer systems.

About the system

The international interbank system for transmitting information and making payments SWIFT (SWIFT) was founded in 1973 in Brussels.

The abbreviation SWIFT stands for Society for Worldwide Interbank Financial Telecommunications, which translated into Russian means “Society for Worldwide Interbank Telecommunications.”

Initially, the founders of the corporate company were about 240 banks in 15 countries. The main goal pursued by the creators of the system was to organize a 24-hour automated reliable mechanism for the exchange of financial information between its members to replace the already outdated paper form of messaging.

It took the developers more than 4 years to make financial calculations and develop the program itself. The official start date of the project is considered to be May 9, 1977, when the international money transfer system was put into operation.

Since the creation of the system, the number of organizations connected to SWIFT has increased more than 40 times, and today its members are about 10 thousand financial companies in 210 different countries.

Currently, SWIFT is the undisputed leader among existing international money transfer systems. More than 1 million different transactions pass through it every day, and their number exceeds 2.5 billion per year.

Conditions

Using the SWIFT system, you can send and receive money transfers in any currency in the world, at the sender’s choice. The system allows you to make transfers both outside the Russian Federation and within the country.

The transfer period ranges from one to five days. This duration of funds transfer is determined by the presence and number of intermediary banks (so-called correspondent banks) through which the payment is made.

In practice, the transfer can be credited even on the day of sending. As a rule, fast depositing is possible if the transfer is sent and received within the territory of one state, or if the correspondent banks are the same. In other cases, the transfer time is directly proportional to the number of banks involved through which the payment passes.

And if you consider that when transferring funds, one of the participants in the chain may make a mistake and send the transfer to another address, then if deadlines are running out, it is better to use the services of one of the instant transfer systems.

The maximum transfer amount is not limited by the system; however, when carrying out the transaction, you should take into account the restrictions established in the country of sending and receiving the transfer.

For example, in accordance with the Directive of the Bank of Russia; 1412 dated March 30, 2004. Without supporting documents, you can send abroad an amount not exceeding $5,000 in one day.

A prerequisite for making a transfer is its addressability - in addition to the recipient’s data, the sender must indicate the details (the so-called SWIFT code) and the number structural unit recipient bank.

The sender and recipient of money transfers can be any individual (over 18 years of age) or legal entity, both residents and non-residents of the Russian Federation.

It is not necessary to open an account to send a transfer. However, in the case of a transfer without opening an account, the transaction fee offered by the system is higher than the cost of sending a transfer through a current account.

In general, transfers via the SWIFT system by individuals are made under the following conditions:

sending is possible both from your own bank account and without one;
the transfer can be credited either to the recipient’s account or issued in cash through the bank’s cash desk (without being credited to the recipient’s account);
funds can be sent to both individuals and legal entities.

Video: How to withdraw money

In which banks can SWIFT money transfers be made?

In accordance with the SWIFT Charter, in each country where the company is represented, a national group of SWIFT members and a group of transfer system users are created.

Members of the system are not only banks, but also various exchanges, brokerage firms and companies - professional participants in the securities market.

The Association of System Users in Russia - ROSSVFIT, is the second largest in the world and unites more than 550 users, a third of which are the largest Russian banks, which conduct more than 80% of settlements through this system.

Despite the significant costs that credit institutions incur when connecting to the SWIFT system, at the moment more than half of the banks in Russia are members of the system. You can find out whether your bank is connected to the system directly on the website of the Russian National SWIFT Association.

Rates

If we talk about the cost of transfers through the SWIFT system, we can note the absence of a unified tariff schedule among members of the organization. Each bank participating in the system sets its own tariffs for conducting transactions through the system.

Typically, both the sender and the recipient pay the transfer fee. As a rule, the cost of a transfer is calculated as a percentage of the amount, subject to a minimum and maximum commission amount for the payment.

Below we suggest that you familiarize yourself with the tariffs for transfers in the SWIFT system in popular Russian banks:

Banking organization	Transfer fee, % of ∑ (min… max)
Banking organization	If you have an account	Without opening an account
Sberbank of Russia	1% (15…200$)	2% (150...2500 rub.)
Alfa Bank	0.5-2% (750...8000 rub.)	Not carried out
Raiffeisenbank	1,5% (30…250$)	Not carried out
VTB 24	1% (20…250€)+20€ on commissions of other banks)	Not carried out
Rosselkhozbank	1% (10…100€)	Not carried out

As you can see, in most Russian banks the cost of sending a transfer via the SWIFT system will be 1-2% of the transfer amount, but not less than 20 and not more than 250 euros per transaction.

It is believed that the cost of sending large amounts through the SWIFT system is cheaper than when using popular instant transfer systems such as Western Union, Contact or Unistream.

Usually, this is true, however, when sending a transfer, we still recommend comparing the current conditions of the SWIFT transfer of the selected bank with the conditions alternative systems money transfers.

To illustrate the difference in sending prices, here is a comparison of the cost of transfers through the SWIFT system with popular instant transfer systems:

Amount Range	Money transfer system
Amount Range	SWIFT	Western Union	Contact	MoneyGram
0-5 000 $/€	1-2% of the amount, min 20 $/€, max 250 $/€	Up to 3% of the amount		3-5% of the amount
5 000 – 10 000 $/€		—	—	—
10 000 – 100 000 $/€		—	—	—

As you can see, compared to international money transfer systems, SWIFT transfers will cost much less, but only when sending large amounts.

The most noticeable difference in cost is in the example of the amount of 10,000 - 100,000 dollars. Transferring such amounts through the SWIFT system will not only cost the sender 2-3 times cheaper, but also, taking into account the established restrictions on transfer amounts (3-5 thousand dollars or euros per day, depending on the system), can be sent in one payment.

In general, when compared with popular instant transfer systems, taking into account the minimum commission amount when sending transfers through the SWIFT system, it is more rational to use this system to send large amounts. To transfer small amounts, it is more advisable to use instant money transfer systems.

Peculiarities

Sending money transfers through the SWIFT system has its own characteristics, which can be found here:

the ability to send a transfer to most countries of the world and in different currencies;
the recipient of funds can be both legal and legal entities;
the transfer can only be received at one specific bank branch indicated by the sender in the payment order;
the ability to send and receive transfers both if you have an account and directly from transit bank accounts;
The timing and cost of transfers depend on the number of correspondent banks involved in the transfer.

Documentation

To send a transfer to an individual you will need the following documents:

Document type	Document	Availability requirement
Application for transfer	Application for transfer using form 364-v or form 364-r	Required
Document certifying	Passport	Required
th personality
Document confirming the legality of the translation	Invoices for payment of services (for example, an invoice for tuition or treatment abroad, documents confirming hotel reservations, etc.)	Mandatory when sending a transfer in an amount over USD 5,000
	Notarized certificate confirming the relationship of the sender and recipient (when sending a transfer to a close relative)
	A copy of the recipient's foreign passport (for recipients who are non-residents of the Russian Federation)
Other documents	Notification from the tax police, issued at the place of registration of the recipient, about the opening of a bank account by the recipient in another country	Mandatory in case of sending a transfer abroad to a resident of the Russian Federation (including if the recipient and sender are the same person)

To receive the transfer, the recipient will need to provide a passport.

If there is a corresponding request, the recipient should be ready to confirm the legality of the currency transaction with the financial organization carrying out the transfer of funds with the appropriate documents.

How to send

In order to send a transfer through the system, first of all, you need to clarify the detailsSWIFT recipient, which includes the following data:

name and SWIFT code of the bank where the money will be sent;
name and SWIFT code of the bank whose correspondent accounts will be used for the transfer (if a correspondent bank is involved);
No. of the account of the person in whose favor the payment is made (if any) or the transit account of the recipient bank (if the recipient of the transfer does not have an account);
Full name of the recipient (for transfers without opening an account, you will additionally need the passport details of the person to whom the payment is sent).

This data is filled out exclusively in English, and in order to minimize the likelihood of errors, it is better to use the details posted on their official websites of financial institutions in the relevant sections.

Once you have all the necessary recipient data, you need to select a bank to send the transfer.

To determine the most optimal option for you, we recommend that you first compare the cost and conditions for sending your transfer to at least 2-3 financial institutions, incl. specify:

the need to open an account;
the cost of the transfer if the sender has (or does not) have an account;
possible restrictions on transfer amounts;
presence and number of correspondent banks;
list necessary documents to make a transfer (if the amount exceeds USD 5,000).

After this, having the recipient’s details and the necessary package of documents in hand, you can safely contact any branch of the selected financial institution to send the transfer.

How to get

To receive a money transfer via the SWIFT system, the recipient usually only needs:

contact the bank branch indicated in the payment order;
present your passport;
pay a commission (if required).

In some cases, the bank may require the recipient to provide documents confirming the legality of the transaction. Don't worry if this situation happens to you.

Typically, this is a simple formality that requires the recipient to provide certain documents that the bank needs to carry out the currency control function.

After confirming the legality of the transaction, the recipient will be able to pick up his transfer.

What is a bank's SWIFT code

SWIFT code is a unique code of a member of the transfer system (bank or other organization), which is used for identification given user for the purpose of sending and receiving financial messages within the system.

Formed this code automatically, in accordance with current ISO 9362 standards (ISO 9362-BIC), when a user is logged into the system.

You can get acquainted with this code on the website of the corresponding institution - a participant in the system, also using special directories of ISWIFT codes of banks.

Flaws

Despite the existing advantages, making transfers through the SWIFT system also has disadvantages that should be taken into account when using it:

transfer times, which last 3-5 working days (unlike instant transfer systems, where you can usually receive money within 15 minutes after sending the funds);
targeted delivery (unlike popular transfer systems, which enable the client to receive funds without restrictions on the place of receipt, sending money via SWIFT is only possible to the account of a specific branch of the financial institution, initially specified in the details of the payment order a);
the possibility of additional commissions when sending or receiving a transfer. This is due, first of all, to the lack of a unified tariff policy of the system for senders and recipients of transfers, as well as the presence of possible intermediaries through which the payment passes.

Based on the conditions described above for sending and receiving money transfers through the SWIFT system, we would like to once again note the exceptional security and reliability of this system, the users of which are more than 10 thousand financial organizations in the world.

In general, if we evaluate all the available capabilities of the system for individuals, its most optimal use is regular large money transfers to close relatives abroad, as well as payment for services legal entities by contract.

A characteristic of a funds transfer, indicating the absence or termination of the possibility of revoking an order to transfer funds at a certain point in time. Read the article.

How to apply for an online money transfer “Zolotaya Korona”? Answer .

Sample of a bank guarantee to ensure the fulfillment of obligations. Read more.

When carrying out such operations, the client has the opportunity to make payment with minimal costs time and money, which in large amounts results in quite significant savings in money during the operation.