Sending a payment from your Intergiro account is straightforward. This guide will walk you through the steps to initiate an outgoing bank transfer and explain the types of transfers you can make.
Steps to Send an Outgoing Bank Transfer
Access Your Account:
Log In: Begin by logging into your Intergiro Customer Portal.
Navigate: Go to the 'Account' or 'Payments' tab located within the portal.
Initiate Transfer:
Send Payment: Click on the 'Send' button to start the process.
Specify Details: Enter the beneficiary's details and the amount you wish to transfer. You will also select the type of transfer during this step.
Types of Bank Transfers: SEPA vs. SWIFT
SEPA Transfers:
Definition: SEPA (Single Euro Payments Area) transfers are used for making euro payments within the SEPA zone, which includes most European countries.
Benefits: SEPA transfers are typically faster and cost less than SWIFT transfers, as they are designed for transactions within the Eurozone.
SWIFT Transfers:
Definition: SWIFT (Society for Worldwide Interbank Financial Telecommunication) transfers are used for international transactions involving multiple currencies and countries outside the SEPA zone.
Benefits: While generally more costly and slower than SEPA transfers, SWIFT allows for broader international reach.
Differences Between SEPA and SWIFT Transfers
Currency and Geographical Reach: SEPA is limited to euros and mostly European countries, while SWIFT can handle multiple currencies and almost any country worldwide.
Cost and Speed: SEPA transfers are usually cheaper and faster compared to SWIFT due to the localized nature of the network.
Tracking and Proof of Payment
Tracking Transfers: Outgoing transfers cannot be tracked directly by the sender. The beneficiary should check with their bank to see if the funds have been credited.
Payment Proof: If needed, the sender can download a payment proof from the Intergiro Customer Portal. This document can be provided to the beneficiary to confirm the transaction details.
Making an outgoing bank transfer through your Intergiro account is a simple process, whether you are using SEPA or SWIFT. Understanding the type of transfer and its implications can help you manage your international payments more effectively.