A SWIFT transfer sends money to a bank account outside Saudi Arabia. Use it to pay overseas suppliers, international contractors, and global service providers.

💡 Who can do this: Anyone with the Make payments permission. International payments may need approval depending on your company's settings, and can be subject to additional verification.

What you'll need

Gather these from the partner's bank details or invoice before you start:

• Account holder name — exactly as it appears on their bank account.
• Bank country and currency you want to pay in.
• IBAN or account number.
• SWIFT/BIC code — the bank's international identifier (8 or 11 characters).
• Bank name and address.
• Purpose of payment — a short reason for the transfer (required for international payments).

Some destinations also require an intermediary (correspondent) bank or extra local details — SiFi will prompt you for these if needed.

💡 Tip: Copy these details directly from the partner's official bank document to avoid delays.

Add a SWIFT payment method

1. Open the partner from Payments → Partners.
2. Click Add payment method and choose SWIFT (International).
3. Enter the bank and account details listed above.
4. Select the purpose of payment from the list.
   
5. Select a fee option — SHA, OUR, or BEN (explained below)
6. Click Save.

SiFi will verify the account details. See Verifying a payment method for how this works.

Send a SWIFT transfer

1. Open the partner and click Pay.
2. Select the SWIFT payment method.
3. Enter the amount and choose the currency.
4. Review the payment summary, including the fee option, any fee applicable, and the amount your partner will receive.
5. Click Send.

You'll see the full breakdown before you confirm. Nothing is sent until you review and approve it.

Fee options explained

When you set up a SWIFT payment method, you choose how transfer fees are shared. This setting applies to all transfers sent using that payment method.

SHA — Shared (Recommended)

You pay your bank's fees. The beneficiary pays theirs.

The international standard for business payments. Each party covers their own bank's charges.

• You are charged SiFi's outgoing transfer fee
• The beneficiary may see a small deduction from their bank
• Intermediary bank fees, if any, are typically shared

Best for: Most business payments, regular supplier invoices.

OUR — You pay all fees

You cover all transfer fees, including the beneficiary's bank charges.

Use this when you want the beneficiary to receive the exact amount you send.

• You are charged SiFi's fee plus an additional charge to cover the beneficiary's bank fees
• The beneficiary generally receives the full transfer amount, though intermediary banks may still apply a small deduction in some cases.

Best for: Paying exact invoice amounts, when your contract specifies "all fees on sender."

BEN — Beneficiary pays all fees

All transfer fees are deducted from the amount the beneficiary receives.

• You send the full amount with no additional fee on your side
• The beneficiary receives less than you sent
• The exact deduction depends on the banks involved

Best for: When the beneficiary has agreed to absorb all transfer costs.

💡 Note: Regardless of fee option, final fees may vary due to intermediary banks. The SWIFT network routes payments through one or more banks, and each may apply a small charge.

Costs and timing

• Delivery: SWIFT transfers typically take 1–3 business days depending on destination, receiving bank, and any intermediary banks.
• Fees: You'll always see the SiFi fee — if any — before you confirm. The amount your partner receives is shown on the payment summary.
• Correspondent banks: A correspondent bank may apply its own charge that SiFi can't see in advance. Where this applies, SiFi will tell you on the payment screen.

Good to know

• Additional checks may apply. As a SAMA-regulated provider, SiFi may ask for supporting information on some international payments. This keeps your payments compliant and secure.
• Track the status. Follow each SWIFT payment from your Payments screen as it moves from submitted to completed. See Payment statuses explained.
• Reusable. Once saved, you can pay the same international partner again without re-entering their bank details.

See also: Internal transfer | Local transfer | Managing beneficiaries & IBANs

Need more help? Contact support@sifi.sa.