Need to pay overseas suppliers, international contractors, or global service providers outside Saudi Arabia? With SiFi SWIFT transfers, cross-border business payments are fast, secure, and fully transparent.

Here is everything you need to know to get started! 🚀

👥 Who Can Send SWIFT Transfers?

• Permission Check: Anyone in your organization with the Make payments permission can initiate a SWIFT transfer.

• Approvals & Security: Depending on your company's custom settings, international payments may need a quick manager sign-off or extra verification to keep everything secure and compliant. 🔒

📋 What You’ll Need Before You Start

To avoid any processing delays, grab these details straight from your partner's official invoice or bank document:

• 👤 Account Holder Name: Exactly as it appears on their bank account.

• 🗺️ Bank Country & Currency: Where the bank is located and what currency you want to pay in.

• 🔢 IBAN or Account Number.

• 🏦 SWIFT/BIC Code: The bank's 8 or 11-character international identifier.

• 📍 Bank Name and Address.

• 📝 Purpose of Payment: A short description explaining what the transfer is for (mandatory for international wires!).

• 💡 Pro Tip: Copy and paste these details directly from your partner's official paperwork to prevent typos!
  
  

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🛠️ Step-by-Step Guides

1️⃣ How to Add a SWIFT Payment Method

1. Head over to Payments → Partners and select your partner.

2. Click Add payment method and choose SWIFT (International).

3. Fill in the bank and account details listed above.

4. Select the purpose of payment from the dropdown menu.

5. Choose your preferred Fee Option (we explain these below! 👇).

6. Click Save 🎉. Once saved, you can pay this same partner anytime without re-entering their bank details!

2️⃣ How to Send a SWIFT Transfer

1. Open your partner’s profile and click Pay.

2. Select your saved SWIFT payment method.

3. Enter the amount and choose your currency.

4. Review the payment summary on your screen—you’ll see any fees and the exact amount your partner will receive upfront.

5. Click Send! 🚀 (Nothing is ever sent until you review and authorize it).
   
   
   
   

💳 Understanding Fee Options

When you set up your SWIFT payment method, you can choose how transfer fees are split. This choice applies to all future payments using that method:

• 🤝 SHA — Shared (Recommended):

  • How it works: You pay SiFi's outgoing fee; your partner pays their bank's fee.

  • Best for: Most standard business invoices and regular supplier payments.

• ⭐ OUR — You Pay All Fees:

  • How it works: You cover all transfer charges so your partner receives 100% of the exact amount you sent.

  • Best for: Strict contracts that specify all fees are on the sender.

• 📉 BEN — Beneficiary Pays All Fees:

  • How it works: All transfer fees are deducted directly from the amount your partner receives.

  • Best for: Situations where your partner has agreed to absorb all transfer costs.

💡 Friendly Note: Because the global SWIFT network routes money through intermediary correspondent banks, a small, unforeseen intermediary fee might occasionally apply depending on the banks involved.

⏱️ Delivery, Tracking, and Good-to-Knows

• ⏳ Delivery Time: SWIFT transfers typically take 1 to 3 business days to arrive, depending on the destination country and receiving banks.

• 🔍 Live Tracking: Follow your payment right from your Payments screen as it moves smoothly from submitted to completed.

• 🛡️ Regulatory Compliance: As a SAMA-regulated provider, we may occasionally ask for a quick supporting document or invoice to keep your international payments safe, secure, and compliant.
  
  

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• 💬 Need a Hand? We are always here to help! Reach out to us anytime at support@sifi.sa. ✨