International Transfers
The International Payments feature at Rauva allows users to send over 14 different currencies around the world, using either local rails or the SWIFT network. The Euros in the users’ accounts will be converted to the selected currency, and that currency will be sent to the recipient.
In this article, we'll explain everything you need to know about international payments and how they work. Looking for the fee breakdown?
How do I send International Transfers?
- Go to the Menu and click in Transfers;
- Select the currency you’d like to send and the amount;
- Enter the required details of the recipient;
- The Euros in your account will be converted into the selected currency and transferred to the recipient. The recipient will then receive the funds in the designated currency.
Can I receive money from outside the eurozone?
Yes, you can receive credit transfers initiated outside of the eurozone in euros. The funds will be converted to euros and deposited in your account.
What currencies and payment rails are supported for sending international payments?
Rauva supports over 14 currencies each with specified payment rails like SWIFT and local bank transfers. Each currency is associated with a fee group based on transfer costs.
What currencies and payment rails are supported for receiving payments?
You will be able to receive any currency on the SWIFT network, which consists of all significant currencies.
What is the rate applied when sending international payments?
Rauva has partnered with Wise to offer international payments, meaning that customers will receive the mid-market rate, which is the ‘real’ rate, with no mark ups included in it.
How does currency exchange work?
Currency exchange is necessary for international transfers. Rauva uses a mid-market rate for outgoing transfers, with rates locked for one business day post-initiation. Incoming transfers are converted to euros, with applicable fees based on the currency received.
Are there any blocked countries or currencies?
Specific countries may require a stricter review process due to regulations or risks.
What are the fees for international transfers?
Fees vary by currency and are grouped from 1 to 4, reflecting the cost of executing a transfer with that currency. Outgoing transfers may incur additional fees for certain currencies via SWIFT.
How do fees work for these transfers?
There are two fees, a fixed fee per transaction of 5€, and a variable fee based on the Fee group the currency is in, which is a percentage of the total amount of the Euro value.
Fees for international transfers are charged separately, creating two transactions in your history: one for the transfer and one for the fees. The fees will be titled "International payment fees".
- The % fee only applies for incoming transfers that have not already been converted to EUR by the sending bank.
For ICT-out an additional SWIFT fee of 5€/transaction applies in the following cases:
USD sent to another country than the USA;
GBP sent to another country than the UK;
EUR sent to another country than the SEPA zone.
Fee breakdown
| Currency Tier | Sending International Payments | Receiving International Payments |
|---|---|---|
| Tier 1 | 5€ (+ 0.6%) | 5€ + 0.6% |
| Tier 2 | 5€ (+ 1%) | 5€ + 1% |
| Tier 3 | 5€ (+ 2%) | 5€ + 2% |
| Tier 4 | 5€ (+ 5%) | 5€ + 5% |
| Currency code | Currency name | Available rails | Fee Tier |
|---|---|---|---|
| 🇦🇺 AUD | Australian Dollar | australian, australian_bpay | 1 |
| 🇨🇦 CAD | Canadian Dollar | iban | 1 |
| 🇨🇭 CHF | Swiss Franc | iban | 1 |
| 🇨🇱 CLP | Chilean Peso | chile | 4 |
| 🇪🇺 EUR | Euro | swift_code | 1 |
| 🇬🇧 GBP | Pound Sterling | iban, sort_code | 1 |
| 🇭🇰 HKD | Hong Kong Dollar | hongkong, hong_kong_fps | 2 |
| 🇮🇩 IDR | Indonesian Rupiah | indonesian | 2 |
| 🇮🇱 ILS | Israeli New Shekel | israeli_local | 4 |
| 🇮🇳 INR | Indian Rupee | indian, indian_upi | 2 |
| 🇯🇵 JPY | Japanese Yen | japanese | 2 |
| 🇰🇷 KRW | South Korean Won | south_korean_paygate, south_korean_paygate_business | 3 |
| 🇲🇽 MXN | Mexican Peso | mexican | 2 |
| 🇳🇿 NZD | New Zealand Dollar | newzealand | 1 |
| 🇸🇬SGD | Singapore Dollar | singapore, singapore_paynow | 2 |
| 🇹🇭 THB | Thai Baht | thailand | 2 |
| 🇺🇸 USD | United States Dollar | fedwire_local, swift_code, aba | 1 |
| 🇺🇾 UYU | Uruguayan Peso | uruguay | 4 |
| 🇻🇳 VND | Vietnamese Dong | vietname_earthport | 2 |
Outgoing blocked countries ❌
All outgoing International Credit Transfers to accounts located in the following countries are rejected.
- Belarus
- Burundi
- Central African Republic
- Congo (Democratic Republic of the)
- Cuba
- Guinea-Bissau
- Iraq
- Iran (Islamic Republic of)
- Lebanon
- Libya
- Mali
- Myanmar
- Nicaragua
- North Korea (Democratic People's Republic of Korea)
- Russian Federation
- Somalia
- Sudan
- South Sudan
- Syrian Arab Republic
- Turkey
- Venezuela (Bolivarian Republic of)
- Yemen
- Ukraine
Incoming allowed countries ✅
Incoming International Credit Transfers are only allowed from accounts located in the following countries.
Africa
- Algeria
- Mayotte
Americas
- Aruba
- Brazil
- Canada
- Chile
- Colombia
- Dominican Republic
- Guatemala
- Guyana
- Honduras
- Martinique
- Mexico
- Paraguay
- Peru
- United States of America
- Uruguay
Asia (East & West)
- Bahrain
- Hong Kong
- India
- Indonesia
- Israel
- Japan
- Malaysia
- Singapore
- South Korea
- Thailand
- Uzbekistan
Oceania
- Australia
- New Zealand
European area
- Andorra
- Armenia
- Austria
- Belgium
- Cyprus
- Czechia
- Denmark
- Estonia
- Finland
- France
- Georgia
- Germany
- Greece
- Iceland
- Ireland
- Italy
- Liechtenstein
- Lithuania
- Luxembourg
- Malta
- Moldova
- Netherlands
- Norway
- Poland
- Portugal
- Romania
- San Marino
- Slovakia
- Slovenia
- Spain
- Sweden
- Switzerland
- United Kingdom of Great Britain and Northern Ireland