SWIFT Transfer
An international wire transfer sent through the SWIFT network. The most common method for cross-border payments to Indian bank accounts.
What is a SWIFT Transfer?
A SWIFT transfer is an international payment sent through the Society for Worldwide Interbank Financial Telecommunication (SWIFT) network. SWIFT connects over 11,000 financial institutions in 200+ countries and is the standard infrastructure for cross-border bank transfers.
When your international client sends a wire transfer to your Indian bank account, it almost always travels through the SWIFT network.
How SWIFT Transfers Work
- Your client's bank initiates the transfer with your bank details and SWIFT/BIC code
- The payment may pass through one or more correspondent banks
- Each intermediary may deduct fees
- Your Indian bank receives the funds and credits your account
Costs of SWIFT Transfers for Indian Freelancers
| Fee Type | Typical Cost |
|---|---|
| Sender's bank wire fee | $25-50 |
| Correspondent bank fee | $10-25 |
| Receiving bank fee | ₹500-1,500 |
| FX markup | 1.5-3% |
| FIRA certificate | ₹500-2,500 |
On a $5,000 invoice, the total cost of a traditional SWIFT transfer can exceed $150-200 in combined fees and FX markup.
SWIFT vs FaiirPe
FaiirPe simplifies international payments by handling the SWIFT complexity behind the scenes. You pay a flat $19 fee with zero FX markup from FaiirPe, regardless of how the payment is routed.
Related Terms
- ACH Payment — domestic US payment network, often cheaper than SWIFT
- Correspondent Bank — intermediary banks in the SWIFT network
- Wire Transfer — general term for bank-to-bank transfers
Tired of losing money on every international payment?
FaiirPe charges a flat $19 per invoice with no FX markup. Get in touch for early access.
Get in Touch