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.

Currency
eur
usd

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.

Currency
ars
bob
brl
clp
cop
crc
dop
ghs
gtq
hnl
kes
mxn
mzn
ngn
pen
pyg
ugx
uyu
zar
zwl

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.

Currency
aed
aud
cad
chf
cny
gbp
hkd
idr
inr
jpy
myr
nzd
php
pln
sgd
thb
xaf
xof