Bank transfers, Swiftly secure your transactions: bank transfer made simple

Bank transfers, Swiftly secure your transactions: bank transfer made simple

Simply put, a bank transfer is a means of paying someone by sending money from your bank to theirs. Transferring cash at or through a bank using account information happens globally and has been a staple in money transfer for over 150 years. 

It's essential to consider the cost of cross-border bank transfers for your business and the end consumer. These costs can be a deterrent to finishing the check-out process. If you're looking at utilizing bank transfers for your payment mix, it's wise to do so with a payment solutions provider that offers a local-to-local bank transfer model. 

Bank transfer payment process

Bank transfer payment process

Bank transfers are initiated online and offline.


Online bank transfer process

When online bank transfer is chosen as a payment method, your customer will click on a link, and it will redirect to their home bank. After making the payment, there will be a payment confirmation page from the business side. 


Offline bank transfer process

When there is no access to data or a banking app, bank transfers can take place offline. Once bank account information is received, customers can go to a physical branch to complete the transaction.

Benefits of offering bank transfer payments for your business

  • Secure

    Bank transfers are pushed via a secure network; the only thing to worry about is input of incorrect payment details
  • Familiar

    Using bank transfers or electronic fund transfers as a payment method is usually one of the first things we learn when registering a bank account.
  • Simple

    No extra sign-up steps are needed. If a customer has a bank account, they can pay straight away.

Country coverage for bank transfer payment methods

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