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Prohibited Countries for DSBC SWIFT Transfer.

  • 1. Afghanistan
  • 2. Bahamas
  • 3. Barbados
  • 4. Botswana
  • 5. Cambodia
  • 6. Cuba
  • 7. Ghana
  • 8. Jamaica
  • 9. Iran
  • 10. Myanmar
  • 11. Nicaragua
  • 12. North Korea
  • 13. Pakistan
  • 14. Panama
  • 15. Samoa
  • 16. Somalia
  • 17. South Sudan
  • 18. Syria
  • 19. Sudan
  • 20. Trinidad & Tobago
  • 21. Uganda
  • 22. US Virgin Islands
  • 23. Venezuela
  • 24. Yemen
  • 25. Zimbabw

FAQs

1. What Is SWIFT?

SWIFT - Society for Worldwide Interbank Financial Telecommunication.

Transaction orders are transmitted between members of this network.

Each member is identified with a unique SWIFT/ BIC code.

To this day, SWIFT is the biggest and most efficient tool for international money transfer, with over 11.000 member institutions in over 200 countries, sending over 5 billions financial messages globally every year.

2. What Does SWIFT Code Represent?

SWIFT works by assigning each member institution a unique ID code that identifies the bank name, country, city, and branch.

For example DSBC Financial Europe BIC code is: DSFE LT 21 XXX

  • The first 4 characters represent our institution (DSFE - DSBC Financial Europe).
  • The 2 following characters represent the country we are based in (LT - Lithuania).
  • The other 2 following characters might be used to represent the location/city or a combination of numbers based on the organization's liking.
  • There might be an additional 3 characters, which are the institution’s branches.
3. What Are The Differences Between SWIFT And SEPA?

 

Difference between SEPA and SWIFT:

 

Network 28 + 3 EU/EEA countries. 118 countries and territories.
Currency EURO. Multiple currencies.
Transaction time 01-02 business days. 02-05 business days.
Or more depending on the relationship between the two payment institutions.
Maximum amount transferred per day 15,000 EUR/day Unlimited.
Note: The maximum amount can be pre-set when establishing your account.
Transfer fees Cheaper for transfer within the EU/EEA region. Depends on the number of correspondent banks involved.
4. Can I Send And Receive Transfer In Other Currencies?

At this time, with DSBC SWIFT transfer, you can send money from your Euro account to other accounts in any other currencies.

However, when you receive payments in other currencies, the fund will be automatically converted to Euro in your DSBC Financial Europe current account.

5. Are There Any Place Limited From Receiving Or Transfering Fund Using Dsbc SWIFT Transfer?

DSBC Financial Europe support SWIFT transfer in 118 countries and territories, excluding the following countries/ territories:

  • Akrotiri
  • Iran
  • Panama
  • Pitcairn Islands
  • Bouvet Island
  • Jarvis Island
  • South Georgia and the South Sandwich Islands
  • Christmas Island
  • Johnston Atoll
  • Spratly Islands
  • Clipperton Island
  • Kingman Reef
  • Svalbard
  • Ashmore and Cartier Islands
  • Iraq
  • Cocos (Keeling) Islands
  • Midway Islands
  • Syria
  • Coral Sea Islands
  • Navassa Island
  • Trinidad and Tobago
  • Crimea
  • Norfolk Island
  • Vanuatu
  • Dhekelia
  • North Korea
  • Paracel Islands
  • Baker Island
  • Jan Mayen
  • Wake Island
  • French Southern and Antarctic Lands
  • Pakistan
  • Wallis and Futuna
  • Heard Island and McDonald Islands
  • Palestinian Territories
  • Yemen
  • Howland Island
  • Palmyra Atoll
6. Can I Send Money Between EU/EEA Countries Using SWIFT?

You absolutely can.

However, SEPA's fee for transactions made within the EU/EEA region is better than SWIFT's. It will also take less time for the transaction to go through than when using SWIFT.

You can find the SEPA transfer feature in the "FAST ACCESS" menu of www.dsbcnet.com. Or you can select "Remittance" then select "Transfer to other bank via SEPA".

7. What Are DSBC Financial Europe Fees For International Transfer?

Please access DSBC Financial Europe's Table Of Fees For Personal and Corporate Account for more information.

8. How Will My SWIFT Payment Be Carried Out?

DSBC Financial Europe has registered and connected with the SWIFT network and are currently working with several correspondent banks to support you in transferring funds abroad.

The transaction time and fees will be heavily influenced by the relationship between our correspondent banks and your beneficiary’s financial institution.

Normally, it would take 02-05 working days for the transfer of funds to be carried out.

In the near future, DSBC Financial Europe will be expanding our connection with correspondent banks around the world to support more currencies, lower transaction costs and reduce wait time.

Please note that in order to transfer funds, DSBC Financial Europe depends on our correspondent banks in some stages of transaction.

Should any delays occur, DSBC Financial Europe and our correspondent banks will work together to help you in transferring or receiving funds on time.

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About Us

We are always proud of being an experienced Financial Institution in the global financial payment market.

We provide the best payment platform as well as worldwide money remittance service. "DSBC Financial Europe" UAB can assist you with different payment methods, whether it is a personal account or a business account.