Relay now offers two ways to send international wire transfers, through the Local Network and Swift Network.
Local Network and Swift Network are two different ways to transfer money across borders via international wire transfer. Relay supports sending international wires via both networks.
A Local Network wire transfer is cheaper to send and typically arrives faster. The Relay team can help you track and locate a Local Network wire, but there’s no detailed end-to-end tracking, making it ideal for frequent transactions and smaller amounts.
A Swift Network wire transfer has higher fees and takes longer to arrive, but you can follow it every step of the way—via an MT103 report—until it lands in your recipient’s bank account.
For more information on our international wire pricing, please see: Updated Wire Pricing
Please Note: At this time, the Relay mobile app does not support international payments in foreign currencies. You can send USD-denominated international wires via SWIFT from the app. To send payments in other currencies or use Local Networks, please log in to your account using a web browser.
| Local Network | Swift Network | |
| How it works | Payments are sent using the local payment network in the region or country where your payee is located. | Payments are sent using the Swift network, a group of 11,000 financial institutions that have agreed to transfer money internationally. |
| Cost per wire | $5 per international wire, or $0 for Relay Pro subscribers | $25 per international wire, or $20 for Relay Pro subscribers |
| Supported currencies |
🇪🇺 Euro (EUR) 🇬🇧 British pound sterling (GBP) 🇨🇦 Canadian dollar (CAD) 🇦🇺 Australian dollar (AUD) |
Most currencies. See list here. |
| Currency conversion fee |
Local Network wires are sent in USD and must be converted to the recipient’s local currency. As currency conversion is required, as low as 1% of the payment applies. |
Swift Network wires are sent in USD. You can convert the payment into any of Relay’s supported currencies. If you choose to convert to another currency, as low as 1% of the payment applies. |
| Settlement time | 0-3 days | 5-7 days |
| Payment tracking |
An MT103 is not available for Local Network wires but our Customer Experience Team can work with you to confirm whether or not the wire was successfully sent. |
An MT103 will help you trace a wire payment every step of its way to your recipient. Learn more about MT103s here. |
| Best for | Faster and more affordable wires, perfect for small and frequent transactions. | Sending large wires that require detailed end-to-end tracking. |
What is the Difference Between Local Network and Swift Network wires?
Sender Display |
Local Network |
Swift Network |
|
What will the recipient's bank see displayed as the sender? |
For EUR and GBP, the ultimate sender is visible to the recipient's bank. For all other currencies, the ultimate sender is not visible and will be shown as either "The Currency Cloud LTD" or one of our banking partners |
The ultimate sender is visible and can be seen in the MT103 report. |
Payment Network |
||
| EUR |
SEPA Credit Transfer (SCT) SEPA Instant Credit Transfer (SCT Inst.) |
Swift |
| GBP | Faster Payment Service (FPS) | Swift |
| CAD | Electronic Funds Transfer | Swift |
| AUD | Direct Entry | Swift |
Payment Cutoff Times for Same-Day ProcessingAll the times are displaced in UTC (Coordinated Universal Time), which is the same as GMT (Greenwich Mean Times) All times are guidelines, only, not guarantees Note: the payment cutoff times are independent of the FX conversion cutoff times |
||
| EUR |
2pm UTC for SCT 24 hour processing for SCT Inst. |
2:30pm UTC |
| GBP | 24 hour a day processing | 4:15pm UTC |
| CAD | 4pm UTC | 4:45pm UTC |
| AUD | 1:30pm UTC | 2pm UTC |
Maximum Payment AmountNote: Your Relay account may have additional transaction limits in addition to the wire transfer limits mentioned below. Learn how to view your account limits |
||
| EUR |
€100,000 SCT Check with the beneficiary's receiving institution to determine if they are of SCT or SCT Inst. |
No Limit |
| GBP | ￡1,000,000 | No Limit |
| CAD | $200,000 CAD | No Limit |
| AUD | No Limit | No Limit |
For detailed instructions, see:
What is the Difference Between the Local Network and a Domestic Wire?
A domestic wire is for wires made from one U.S. bank account to another U.S. bank account. The Local Network is still for international wires; it just accesses a country’s Local Network to complete the international wire. For more information about domestic wires on Relay, please see Sending a domestic wire.
Payment Security
Keeping your money and data safe is our top priority at Relay. On occasion, when sending payments from your account, you may be prompted to verify that you've authorized the transaction with an SMS code sent to your mobile device as an added layer of security. For more information, please see: Verifying Payments using SMS Verification Codes.
Please note: The payment threshold which prompts 2FA SMS codes will soon be customizable for our customers.
Still have questions? Our team is ready to help! Talk to our Customer Experience team