SWIFTÜberweisungen

SWIFT Überweisungen, also known as SWIFT transfers, are international bank transfers facilitated by the Society for Worldwide Interbank Financial Telecommunication (SWIFT) network. SWIFT itself does not hold or transfer funds; rather, it provides a secure messaging system that allows financial institutions worldwide to communicate and exchange information about transactions. When you make a SWIFT Überweisung, your bank uses the SWIFT network to send instructions to the recipient's bank, specifying the amount to be transferred and the account details.

These transfers are typically used for international payments between different countries and currencies. They are known for their reliability and broad reach, connecting over 11,000 financial institutions in more than 200 countries and territories. However, SWIFT Überweisungen can also be slower compared to some newer payment systems, often taking several business days to complete. Fees are usually involved, which can include charges from both the sending and receiving banks, as well as potential intermediary banks if the transfer involves multiple institutions.

The process usually requires specific information, including the recipient's full name and address, their bank's name and address, the recipient's account number, and the SWIFT code (also known as a BIC - Bank Identifier Code) of the recipient's bank. This BIC is a unique identifier for financial institutions and is crucial for routing the transfer correctly. While SWIFT Überweisungen are a long-standing and widely used method for international money movement, advancements in payment technology are leading to the development of faster and potentially cheaper alternatives in some regions.