🌍 How do incoming international transfers work?
Your Accountable Banking account can receive credit transfers from abroad, regardless of the currency the sender uses. Swan's BIC is connected to the SWIFT network, so your IBAN is all the sender needs. This article covers the sender details to share, how fees work, processing times, and when a transfer may be rejected.
📋 What details should the sender use?
Ask the sender to provide the following details to their bank when initiating the transfer:
Beneficiary IBAN | Your IBAN (visible in Accountable under Banking) |
Beneficiary name | Your full name as registered on your account |
Swan BIC For SEPA transfers | Germany: SWNBDEBB |
Intermediary SWIFT For international SWIFT transfers only | TRWIGB2B, Wise, United Kingdom |
⚠️ A currency being listed here does not mean transfers from that country are accepted. Always check the allowed countries list before sharing your IBAN with a sender abroad.
💶 Will I receive the money in euros?
Yes. Accountable Banking accounts are euro-based. If the sender transfers in another currency (e.g. GBP or USD), the amount is converted to euros before it reaches your account. The conversion is handled by the intermediary banks along the route.
If Swan performs the final currency conversion, an additional fee applies on top of the standard €5 processing fee (e.g. 0.6% for USD). If the transfer arrives already converted to euros, only the flat €5 fee applies.
⚠️ What fees apply to incoming international transfers?
💡 SEPA transfers are free. Swan does not charge any fees on incoming or outgoing SEPA transfers, for example payments from PayPal (Luxembourg) or Stripe (Ireland). The fees below apply only to international transfers outside the SEPA network.
Two types of fees can apply to incoming international transfers:
Intermediary bank fees: Charged by the banks that route the transfer. These are deducted directly from the transfer amount before it reaches your account. The exact amount depends on the banks involved and the fee arrangement the sender chose.
Swan processing fee: A flat €5 fee charged separately by Swan once the transfer is booked to your account. This appears as a separate transaction in your history.
💡 Fee arrangement (set by the sender): • SHA, fees split: sender pays their bank's fees, you pay intermediary fees deducted from the amount • BEN, all fees paid by you, deducted from the transfer amount • OUR, all fees paid by the sender (though some banks may still pass on intermediary fees) |
The diagram below shows a real example of a £1,000 GBP transfer and what gets deducted at each step:
⏱️ How long does it take?
Once Swan receives the transfer, it is booked to your account immediately. The total time depends on how long the transfer spends passing through the sending bank and any intermediary banks. This can range from a few hours to several business days, depending on the origin country and currency.
When can an incoming transfer be rejected?
The transfer originates from a country not on the allowed list.
Your account is in Limited status (not yet fully verified). Any incoming international transfer on a limited account is automatically rejected, regardless of the amount. This restriction is lifted once your account verification is complete.
🌐 Which countries can send me international transfers?
Key takeaways
Your Accountable Banking IBAN works with the SWIFT network: no separate account is needed to receive international transfers.
All amounts are received in euros. Currency conversion is handled by intermediary banks or Swan, and a €5 Swan processing fee applies to each incoming international transfer.
SEPA transfers (e.g. from PayPal Luxembourg or Stripe Ireland) are free with no processing fee.
A currency appearing in the intermediary SWIFT table does not guarantee the transfer will be accepted: always check the allowed countries list first.
Incoming international transfers are automatically rejected if your account is in Limited status or if the sender's country is not on the allowed list.
Need help? Chat with us or email support@accountable.eu, we're happy to help.