How do I make a payment?
With the Winvesta Multi-Currency Account, you can send funds to customers in 37 currencies across 212 countries. We will notify you when the payment is complete.
As a first step, you need to create a beneficiary by providing information like the company or person name, their country of residence, and their bank account details.
You can choose between SWIFT or a local payment scheme.
SWIFT Payment (Priority):
It is generally the most common way to make an international payment. Your beneficiary should receive the amount in 1-2 working days. There is a charge for SWIFT transactions as the payment is transferred between intermediary banks before it reaches your beneficiary bank. Intermediary banks may charge a handling fee or commission for their service. When making a SWIFT payment, you will need to choose between:
- Shared (SHA): intermediary bank charges are deducted from the payment amount. Your beneficiary may therefore receive less than the amount sent.
- Ours (OUR): intermediary bank charges will be covered by you. Your beneficiary will receive the full amount but you will be charged an additional fee to cover the intermediary bank charges. These fees vary depending on the country the funds are sent to.
Local Payments Scheme (Regular)
Local payments are domestic payments. Your beneficiary should receive the amount in 0-2 working days. You get complete visibility of the exchange rate offered to you at the time of conversion and the exact amount your beneficiary will receive. This method works cheaper than SWIFT when you have smaller amounts. Please refer to the specific currency payment limit restrictions here.