Marcin Czenko SEPA is also only for transferring Euros. The Local Currency accounts are denominated in currencies other than the Euro, so you won‘t use SEPA payments in the first place.
For certain currencies, there will also be „Fast Payments“ / „Local Payments“, so for example with the GBP account you also get a UK sort code and account number. So then you can receive money through a domestic transfer. But if you for example want to receive GBP from, let‘s say South Africa, then there‘s just no other way than using SWIFT. And SWIFT is expensive, actually even more so at other banks, the rates from bunq seem comparably cheap to me.
indicate that Swift is a norm
It is the norm for non-Euro transfers. Even in Europe. And hey depending on your country some banks even try to send SWIFT transfers when you send Euro to a Euro country (looking at you, Polish banks).
SEPA are guaranteed by law to be free of charge in EU (to be precise, it should cost the same as domestic transfer
Hello Spanish banks! :p
BTW, using UK to facilitate this…hmm…UK banking is traditionally behind everyone
Their partner is Currencycloud.
