SWIFT transfer at PrivatBank: how to send money abroad

SWIFT is an international bank transfer system through which you can send money abroad to an account at a foreign bank. At PrivatBank such a transfer is made using the recipient's details. Let's cover what data is needed, how to choose the fee option, what documents may be requested and how to track the transfer.

What details are needed

• recipient's name and address (in Latin, as in documents);
• recipient's account number or IBAN;
• recipient bank's SWIFT/BIC code;
• name and country of the recipient's bank;
• sometimes — the correspondent bank and payment purpose.

Check every character: an error in the IBAN or SWIFT can delay or reverse the transfer.

How to make the transfer

1. Visit a PrivatBank branch or use the available online options in Privat24.
2. Enter the recipient's details and the amount in the required currency.
3. Choose who pays the fees (OUR/SHA/BEN options).
4. Specify the payment purpose and add supporting documents if needed.
5. Check the data and confirm.

Screenshot: the international transfer form with SWIFT details

OUR, SHA and BEN — who pays the fees

• OUR — you pay all fees (your bank's and intermediary banks'), the recipient gets the full amount;
• SHA — you pay your bank's fee, intermediary fees are deducted from the transfer (the most common option);
• BEN — all fees are deducted from the transfer amount, so the recipient gets less.

Currency control and documents

For international transfers the bank may request documents confirming the basis of payment (e.g. a contract, invoice) — this is a currency-law requirement. For large sums or certain purposes the check is stricter. Clarify in advance which documents are needed for your case.

How long it takes and intermediary banks

Money usually arrives within 1–3 business days depending on the country and the recipient's bank. The transfer may pass through intermediary (correspondent) banks, each of which can deduct its own fee — so the recipient's final amount is sometimes less than what was sent (especially with SHA/BEN).

How to track the transfer

Every SWIFT transfer has a unique identifier (UETR/reference). If the transfer is delayed, contact your bank with this reference — you can request a payment trace (SWIFT tracking), and the bank will check where the money is.

FAQ

What's the difference between OUR, SHA and BEN?

OUR — the sender pays all fees; SHA — fees are shared; BEN — fees are deducted from the amount, so the recipient gets less. The choice affects the final amount.

Are there amount limits?

Currency restrictions and NBU limits may apply. Check current terms with the bank before transferring.

What if the transfer doesn't arrive on time?

Contact your bank with the transfer reference — the bank will request a SWIFT trace and check the status.

Can a mistaken transfer be returned?

A return is possible but not guaranteed and may take time — the recipient's bank must agree to it. So check the details carefully before confirming.

Fees, limits and timing may change — check current terms in the Privat24 app, at a branch or on the bank's website.