SWIFT vs. Local Rails
How and when to use SWIFT over local rails
To make a payment over faster, cheaper local rails (such as ACH in the US or SEPA in Europe), create a Payment Detail with rails set to local and create your Quote against that Payment Detail with rails set to local as well.
If the account you wish to pay is not on local rails - for example it is a USD bank account in Singapore - then you will have to use the SWIFT network. When you create the Payment Details set the rails attribute to swift and when you create a Quote against that Payment Detail, set rails to swift there as well.
Local Rails & SWIFT
For the following currencies. When creating a payment_detail, the value for "rails" can be local when you want to use SEPA/ACH rails, and swift when you want to use SWIFT rails. Generally, if the bank account you are paying supports SEPA/ACH, you should set "rails" as local to enjoy faster delivery time and lower rates.
Local Rails Only
For the following currencies. When creating a payment_detail, the value for "rails" must be local, as SWIFT is not supported for the currency.
SWIFT Only
For the following currencies. When creating a payment_detail, the value for "rails" must be swift as only SWIFT payments are supported for these currencies.
Last updated