Question
What is a SWIFT and SEPA transfer? How long does SWIFT or SEPA transfer take?
Answer
SWIFT (Society for Worldwide Interbank Financial Telecommunication) and SEPA (Single Euro Payments Area) transfers are two popular methods of international money transfers between financial institutions.
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SWIFT Transfer - SWIFT is an international system for exchanging financial messages between financial institutions all over the world. It allows us to send money to any supported country. A SWIFT transfer usually takes between 1 and 3 business days, although in exceptional circumstances this time may be extended.
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SEPA Transfer - SEPA is a system that enables payments in euros within the European Union, Switzerland, United Kingdom, San Marino, Vatican City, Andorra, Monaco, Iceland, Norway, and Liechtenstein. SEPA transfers typically take between 1 and 3 business days, but sometimes processing time may be extended. ZEN does not currently support SEPA Instant - incoming instant transfers are settled in the same timeframe as standard SEPA transfers.
Information
A business day is every day from Monday to Friday, excluding holidays. Weekends and bank holidays are not counted as business days.
See also: My SEPA/SWIFT transfer didn't arrive to ZEN