International Credit Transfers (ICT) involve two types of costs: a standard processing fee and a currency exchange fee. The total cost depends on the currency group and whether the transfer is incoming or outgoing.
Currencies are divided into four fee groups. The group your currency belongs to determines the transfer fee. For example, transferring between euros and currencies in group one costs less than in group three.
Transfer fees
The following table shows the fee group and the total outgoing and incoming transfer fees for each currency.
| Fee group | Outgoing transfer fee | Incoming transfer fee | Currency |
|---|---|---|---|
| Group 1 | €5 + 0.6% | €5 (+ 0.6%) |
|
| Group 2 | €5 + 1% | €5 (+ 1%) |
|
| Group 3 | €5 + 2% | €5 (+ 2%) |
|
| Group 4 | €5 + 5% | €5 (+ 5%) |
|
SWIFT transfers: If you send USD, GBP, or EUR through SWIFT, you pay an extra €5 fee. For these currencies, your total fee is €10 plus the percentage shown in the table. Learn more about the differences between SWIFT and other payment rails.
Fees in parentheses: The additional fee percentage (in parentheses) applies only to transfers not already converted into euros.
Outgoing transfer fees
When you send money internationally, it's converted to the recipient's currency. You then pay an exchange fee based on the rate shown when you initiate the transfer.
The exchange rate locks for one business day after you initiate the transfer. You must consent to the transfer within that time.
If you don't provide consent within one business day, the exchange rate will be unlocked, and your transfer will be rejected. Restart the transfer to get a new exchange rate.
Incoming transfer fees
If you receive money in a foreign currency, it's converted to euros. You will pay a processing fee and currency exchange fees. If you receive money in euros, you only pay the processing fee.
Same-country transfers (Domestic SWIFT)
In specific cases, you may see a €5 fee for receiving euros from within the same country. This occurs if the sending bank uses SWIFT instead of SEPA (e.g., a French virement de trésorerie).
Tip
To avoid fees on local incoming transfers, ask the sending bank to use SEPA instead of SWIFT.
If you have further questions, submit a request to Swan Support.