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SWIFT (Bank Wire) Transfer

The SWIFT (Society for Worldwide Interbank Financial Telecommunication) system of bank transfers can be called a foundation of modern banks work without a slightest exaggeration.

As the name suggests the system is designed for transferring and distributing of international financial transactions flows between the banks which are members of the organization as well as carrying out international payments.

SWIFT consortium was established in Brussels, in 1973. Initially 239 biggest banks from 15 countries participated in it. Nowadays the SWFT system comprises over 4000 banking organizations from 70 countries of the world and the overall number of organizations which are members to the concern exceeds 10000. The daily number of Swift transactions exceeds one million with total money worth of several trillions of US dollars. It is most likely that your bank also participates in the system.

Theoretically for making an international banking payment one needs to know the recipient bank's SWIFT code as well as beneficiary account number (IBAN for Europe). Though, when it comes to practice, the banks may well demand additional data – recipient data, bank name, your address and others. Every bank has its unique SWIFT code which sounds similarly to banks name. A variant of such name - SWIFT/BIC (Bank Identifier Code) and, correspondingly, the bank codes are called SWIFT Code (ID) or BIC code.

If you are not sure in which way you are willing to buy bitcoin, litecoin and other digital currency (cryptocurrency), make SWIFT your choice. This is a winning bet under all circumstances. You can also use it to sell (cashout) cryptocurrencies. Such transfers are more expensive and "slow" comparing with local payment options – the price of the transaction may be from $25 to $100 and the period of its processing may stretch to 1-3 working days (in cases with small banks – up to a week). Despite that, most of the citizens prefer namely this system due to its being accessible and simple. But if you need your bitcoins instantly – please choose credit card, local transfer or cash deposit, money transfers.

Our company is a great choice for both buying bitcoins and withdrawing bitcoins using swift transfers! Low service fees (including banking services), large list of supported currencies (USD, EUR, GBP, CZK), cooperation with largest international banks are among our advantages. This allows our client to work in conditions comparable to local transfers. Wherever you are located, our company will become your reliable assistant!

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