Three acronyms, one single question: where is your money going, and how quickly?
SEPA: the transfer in euros, in Europe
SEPA is the network used for a transfer in euros between European countries. Fast, often one working day, and inexpensive. Like priority post within the same country, but on the scale of the eurozone.
SWIFT: the international network, outside the eurozone
SWIFT is the network used as soon as the payment goes outside this framework, another currency, another continent. The transfer can pass through one or more intermediary banks before reaching its destination. Like an international parcel that transits through several sorting centres, each able to hold it for verification.
SWIFT GPI: the same network, but with tracking
SWIFT GPI is not a different network from SWIFT; it is an improvement. It adds real-time tracking of the transfer, like a parcel tracking number, and guarantees that the amount arrives intact at its destination, with no surprise deductions along the way. The majority of major banks and providers use it today.
What to remember
1. SEPA: euros, between European countries, fast. 2. SWIFT: international, multiple intermediaries possible, less predictable. 3. SWIFT GPI: the same SWIFT, but with clear traceability of your funds' journey.
How OSolto supports you
OSolto provides access to SEPA and SWIFT GPI payments, with real-time tracking of your international transfers and a dedicated contact person in case of questions.
Book an appointment with an OSolto expert
FAQ
Does SWIFT GPI cost more than traditional SWIFT? No, it is an evolution of the same network, not a separate paid service.
Does my euro transfer to the United Kingdom go through SEPA? No, as the United Kingdom is not in the eurozone for this type of transaction, the transfer generally goes through SWIFT.
