We are excited to announce the expansion of our USD capabilities on the BVNK platform. In addition to our existing local USD payment rails, qualifying customers can now send and receive international USD Swift transfers directly through BVNK named virtual accounts.
This feature is automatically enabled for all eligible merchants with active USD virtual accounts (via our banking partner, Lead Bank).
The big benefit: Swift USD accounts via Lead Bank are named accounts, so incoming payments are automatically matched to you – no reference codes needed. This removes reconciliation friction and makes international USD transfers seamless.
How to use your new Swift USD account
Step 1: Access your Swift USD account details
Log into your BVNK Merchant Portal, navigate to your USD virtual account wallet, and click on 'Wallet Details' to view your international wire instructions, including the Lead Bank BIC/SWIFT code.
Step 2: Add beneficiary details (for outbound payments)
- Navigate to the 'Contacts' tab and select an existing contact, or click 'Add a contact' to create a new one.
- Once created, click on 'Details' then 'Add a bank account' to add the beneficiary's Swift account details.
Step 3: Execute your Swift payment
When sending outbound payments, choose Swift via the BVNK Merchant Portal or API.
When to use Swift vs. Fedwire:
- Use Swift if any bank involved in the transfer is outside the US, or if an intermediary bank is required
- Use Fedwire only if all banks involved are US-based
Important details
Settlement times & cut-offs
- Swift transfers typically take 1–5 working days to complete after submission
- Outbound transfers submitted before 16:00 EST / 21:00 UTC are processed the same business day
- Transfers initiated after cut-off or on weekends/US bank holidays are processed on the following business day
Fees
- If you're already using Swift through another payment rail, your Lead Bank pricing will align with your existing rates.
- If this is your first Swift capability, please contact your Account Manager for pricing details.
- Outbound payments use the SHA (Shared) model by default – intermediary or beneficiary banks may deduct their fees from the transfer amount before it reaches the final beneficiary.
Incoming transfers
- All incoming wires are subject to beneficiary name validation
- Ensure senders use your correct legal entity name or registered DBA to avoid rejections
Need help?
For questions or support, reach out to your Account Manager or email support@bvnk.com.