If you want to top up GBP in your SwissBorg account from your bank account, you have two options: Faster Payments and SWIFT transfer.
1) For both options, tap the “Deposit” button in the Portfolio screen in the app.
2) Under “Bank Transfer”, find and tap on “GBP”. If the currency is not yet listed there, simply tap on "Add Currency" and select GBP from the list.
Next, you have two options to proceed with your top up: Faster Payments or SWIFT.
Faster Payments
Faster Payments are processed as local payments over the new Faster Payments network, which connects all the British banks that adhere to the new scheme, allowing instant bank transfers.
To top up with Faster Payments, simply follow these steps:
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Carefully read Modulr Finance Limited’s Terms & Conditions toggle the bar if you agree, then tap “Next”.
2) Copy the bank details provided in the app by tapping on any row (you can also share the bank details via apps on your phone, for example SMS or email).
3) Enter the details in your banking app or platform. Please keep in mind that:
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The funds must come from a personal bank account that is registered with the same name as your SwissBorg account;
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Your account number is unique and you are the Beneficiary, there is no unique reference number for Faster Payments;
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Please make your transfer in GBP only. If you send any other currency, we will have to convert it to GBP in order to credit the funds to your account, which may result in a double conversion.
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From your banking app, select Local payment and shared fees.
SWIFT
SWIFT transfers are made with the help of SWIFT (Society for Worldwide Interbank Financial Telecommunications), which is a global system for executing financial transactions and payments between banks worldwide.
We recommend to choose this option only if you need to deposit a currency different from GBP.
To top up via SWIFT, simply follow these steps:
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Copy the bank details provided in the app by tapping on any row (you can also share the bank details via apps on your phone, for example SMS or email).
2) Enter the details in your banking app or platform. Please keep in mind that:
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The funds must come from a personal bank account that is registered with the same name as your SwissBorg account;
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Your unique reference number needs to be included in the payment details as “Reference” (for some banks the reference field is named differently, for example “Message to Beneficiary”, “Description” or "Reason for payment". Please confirm with your bank if you are unsure which field to use). If you don’t include the reference, this can result in delays and even loss of funds.
The reason for this is that SWIFT transfers are not sent to your personal SwissBorg account, but to an omnibus IBAN account in the name of “SwissBorg Solutions OU”. Our system needs the reference number to identify you as the sender, and credit the funds to your SwissBorg account.
If you have any doubts or questions regarding making a deposit, or if you require assistance, please contact us through the app or via email at support@swissborg.com.
NOTE: Fiat transactions might take from a couple of hours to several days (1-5 business days) depending on the internal banking processes and working hours.
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