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Currency exchange and fees for International Credit Transfers

  • Updated

When transferring money internationally, you need to convert your currency into your beneficiary’s currency, which involves extra fees.

Currency exchange for outgoing transfers

Currency exchange fees apply to all outgoing International Credit Transfers. The exchange rate is calculated when you initiate a transfer.

After the transfer is initiated, the exchange rate is locked for one business day. You need to approve the transfer within this time.

If you don’t give consent within one business day, the exchange rate is no longer locked and your transfer is rejected. You’ll need to start a new transfer, which will have a different exchange rate.

Outgoing transfer fees

Fees for outgoing International Credit Transfers depend on the currency you choose. Currencies are categorized into four fee groups, which determine the cost of processing the transfer.

For example, transferring between euros and the currencies in Group 1 costs less than transferring between euros and the currencies in Group 3.

The fee group for each currency is detailed in the following table:

Fee group Outgoing transfer fee* Incoming Transfer Fee** Countries
Group 1 €5 + 0.6% €5 (+ 0.6%)
  • 🇦🇺 AUD (Australian Dollar)
  • 🇨🇦 CAD (Canadian Dollar)
  • 🇨🇭 CHF (Swiss Franc)
  • 🇪🇺 EUR (Euro)
  • 🇬🇧 GBP (Pound Sterling)
  • 🇳🇿 NZD (New Zealand Dollar)
  • 🇺🇸 USD (United States Dollar)
Group 2 €5 + 1% €5 (+ 1%)
  • 🇭🇰 HKD (Hong Kong Dollar)
  • 🇨🇦 🇮🇩 IDR (Indonesian Rupiah)
  • 🇮🇳 INR (Indian Rupee)
  • 🇯🇵 JPY (Japanese Yen)
  • 🇲🇽 MXN (Mexican Peso)
  • 🇲🇾 MYR* (Malaysian Ringgit)
  • 🇸🇬 SGD (Singapore Dollar)
  • 🇹🇭 THB (Thai Baht)
  • 🇻🇳 VND (Vietnamese Dong)
Group 3 €5 + 2% €5 (+ 2%)
  • 🇧🇷 BRL* (Brazilian Real)
  • 🇰🇷 KRW (South Korean Won)
Group 4 €5 + 5% €5 (+ 5%)
  • 🇨🇱 CLP (Chilean Peso)
  • 🇮🇱 ILS (Israeli New Shekel)
  • 🇺🇾 UYU (Uruguayan Peso)

*Outgoing transfers: An additional €5 fee applies when sending USD, GBP, or EUR through SWIFT. The total fee for these currencies is €10 + the percentage indicated in the table.

**Incoming transfers: The additional fee percentage applies only to transfers not already converted into euros.

Knowing your currency’s fee group helps you estimate the cost of international transactions. For more details on International Credit Transfers, refer to the article on supported payment rails.

If you have further questions, submit a request to Swan Support.