That’s right. It’s a SWIFT transfer.
Revolut does not charge a fee for cross-currency transfers for up to £5,000 / €6,500 / $6,000 / Fr 6,000 / 20,000 zl (or equivalent) per month. A 0.5% fee will apply to any further cross-currency transactions performed during the same calendar month.
You should also watch out for third party fees. If your transfer is sent in Euros and your bank is using SEPA (Single Euro Payments Area), then a transfer from Revolut is free. SEPA comprises of the 28 E.U. member states as well as Switzerland, Norway, Iceland, Liechtenstein, Monaco and San Marino.
If your bank is located outside of the E.U. or is not in Euros, then your transfer will be sent via SWIFT (Society for Worldwide InterBank Financial Telecommunications) and you may incur international wire transfer fees.
With SWIFT transfers, the beneficiary bank could also charge a fee to receive your transfer. When your money is in transit, it may be processed by an intermediary bank who may also deduct a handling fee. Therefore, the amount you receive in your bank may be less than the amount you sent. As banks are not always transparent about their fees, unfortunately, we cannot provide a conclusive amount that you could be charged.
We can provide an estimate of the potential fees for the following currencies:
16-32 EUR (outside of SEPA)