Hi there, people.
Just wondering, did we ever consider SWIFT transfer as a payment method?
- 99% (or it seems so) of the banks in the world are connected to SWIFT.
- You can easily accept payments in any currency as long as you have a bank account in this currency with a valid IBAN and other credentials (intermediary bank)
Cons (that I know of):
- It can be expensive sometimes. It costs me 1 USD to do a SEPA transfer and 4.5 USD to make a SWIFT transfer
- It can take up to 5 business days for the transfer to be executed
- Needs extended bank account details (intermediary bank)
I haven’t investigated chargeback risks yet