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What is the difference between SWIFT and SEPA transfers?

Learn how SWIFT and SEPA transfers differ in terms of geographic coverage, currencies supported, speed, and process.

Intergiro Support avatar
Written by Intergiro Support
Updated this week

Understanding the differences between SWIFT and SEPA transfers can help you choose the best method for your international or European payments.

Feature

SWIFT Transfers

SEPA Transfers

Scope

Worldwide

SEPA zone (EU, EEA, select non-EU countries)

Currencies

Supported: EUR, USD, GBP, SEK, NOK, DKK, PLN, AUD

EUR only

Typical Use

International and cross-currency payments

Domestic and cross-border Euro payments within SEPA

Transfer Time

Typically, 1–4 business days

Often within 1 business day

Intermediary Banks

May involve several intermediary banks

No intermediary banks

Requirements

IBAN and BIC usually required; details may vary

IBAN required, BIC sometimes required

SEPA covers over 30 countries, including all EU members and several others (e.g., UK, Norway, Switzerland).

Detailed Comparison

SWIFT Transfers:

SWIFT transfers may involve extra processing fees depending on each bank’s involvement.

  • Suitable for sending or receiving payments in multiple currencies to and from almost any country.

  • Supports the following currencies with Intergiro: EUR, USD, GBP, SEK, NOK, DKK, PLN, and AUD.

  • Transfers may pass through several intermediary (correspondent) banks, which can result in additional costs and variable delivery times.

  • Ideal for international business and non-EU transactions.⁠⁠⁠⁠⁠⁠​



For SEPA transfers, both sender and recipient must have accounts within the SEPA area and transact in Euro.

SEPA Transfers:

  • Designed for payments in Euro within the Single Euro Payments Area (SEPA), which includes EU and some non-EU countries.

  • Transfers are usually fast (often same day) and reliable, with low or no added cost.

  • SEPA transfers do not use intermediary banks, streamlining processing.⁠⁠⁠⁠​

  • Suitable for personal and business payments within the SEPA area only.⁠⁠⁠⁠​

Always check with the recipient for specific payment details required.

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