Swift and international transfers

Community Support
1

I found myself in a situation when I need to make international transfers, and I usually use swift, but I can’t find that option in NEO app or site.

So I gathered Neo doesn’t have SWIFT transfer or it’s just hidden somewhere that I can’t seem to find it?

Thanks in advance

2

P.S. Also, because of scheduling conflict I wasn’t able to attend few last roadmap calls (

3

I’ve also recently been required to make a SWIFT payment to pay for some international documents. I don’t find this option via Neo. The big bank I also deal with does process SWIFT transfers but only over $100CAD, which was double the payment I was trying to make

This forced me to go to a third party to get the payment processed. It’s not something I do on a regular basis but does seem to be a gap I service being provided by the big banks.

4

Hi @DDmytro, Just a heads-up that Neo currently doesn’t support SWIFT or international wire transfers. Right now, our transfer options are domestic, including Interac e-Transfers and EFTs between Canadian accounts.

I really appreciate you flagging this, though it’s definitely helpful feedback for us to have!

5

My RBC allows some SWIFT without fee like 10k a month, but I wanted to close that account and move to NEO, but without Swift can’t make that jump(

6

Neo definitely needs international transfers. Right now I’ve got to send stuff through Wise and setting up a Wise account is enough work I don’t often recommend it to people.

7

@DDmytro @Daniel Thank you all for chiming in! We completely hear you relying on third-party platforms or keeping traditional accounts just for SWIFT and wire transfers is a major hurdle when trying to make Neo your primary bank

While transfers are currently domestic only (EFT and Interac), international transfers remain one a requested features. I’ve passed this to our product roadmap team!