Payments & Transactions
Processing times for outgoing transfers depend on the type of transfer. Internal system transfers are instant. SEPA transfers take between 1-2 business days. SWIFT transfers take between 3-5 business days.
International outgoing/incoming bank transfers in other currencies than EUR are available only via our Shared IBAN service. To order accounts in other currencies, please submit a SWIFT order form, and we will get back to you with the most suitable solution for your banking needs.
We do not charge any fees when you deposit money to your Satchel account via a bank transfer. However, when making an international payment, the sender can choose the party that covers the outgoing transfer fees. Additionally, when receiving SWIFT transfers, the correspondent (intermediary) bank may deduct processing fees, hence a smaller amount can be credited to your account.
In case a transfer that was sent to you has not been credited to your account, you should obtain a payment confirmation from the sender and send it to our support team at firstname.lastname@example.org.
If you made a transfer to a wrong IBAN, please immediately notify our support team at email@example.com and ask them to initiate a Payment Recall.
Please note, that if the transfer has already been credited to the recipient’s account, we will not be able to reverse the transaction. In this case, we would advise to contact the recipient directly asking for a return.
To make an internal transfer, you will only need the short account number of the recipient.
Choose the “Internal transfer” payment type in your client office, enter the account number, and the system will automatically search the database. All that is left to do is enter the amount of the transaction. The transfer will be executed instantly.