As a general rule, you should expect it to taketwo or three working days to transfer money from your Swiss bank account to an account in another industrialized country. Switzerland’s financial position gives it one of the most efficient international payment systems. However, this deadline may greatly vary due to reasons beyond the control of your Swiss bank. These delays may be due to several factors:

The nature of your transfer
The way in which you transmit your request for payment to your bank has an impact on transaction time. If you send your request for payment to your bank by mail, you should expect it to take two or three days to process from the time it was received. Using Internet banking significantly reduces your wait.

SWIFT
Currently, 90% of banks worldwide use the SWIFT network to make international bank transfers. This computer system allows banks to exchange internationally recognized messages that indicate credited amounts and authorize debits.

Some banks in developing countries are not affiliated with the SWIFT network and transmit this kind of information by telex. As a result, it takes longer to receive the transfer.

Affiliated Banks
SWIFT only transmits a message. In order for the operation to be completed quickly, the receiving bank needs to have an account at the head office of the issuing bank. As a general rule, each major bank has direct accounts at the head offices of other banks and thus an interbank transfer can be made.

If the receiving bank does not have an account with the issuing bank, the wire transfer must go through an affiliated bank that can link the two other banks. It is sometimes necessary to call upon several affiliated banks to get the money to the final receiving bank. This may take longer and each intermediary may ask for a commission.

Currency
A wire transfer must go through one of the countries that issues the currency. For example, a wire transfer in US dollars paid to a Russian bank must pass through an intermediary in the United States. Consequently, the operation may take longer, depending on the currency.

* SWIFT (Society for Worldwide Interbank Financial Telecommunication) is a company incorporated under Belgian law, whose headquarters is located in Brussels. Its role is to facilitate international banking operations through a very powerful computer network. SWIFT was founded in 1973 by 239 banks in 15 different countries and now more than 7,125 institutions in 192 countries subscribe to it.