When you make a deposit via bank transfer, it can happen that the funds are not visible right away.
Although most transactions are processed quickly, especially when done via SEPA or Faster Payment, delays can still occur for a number of reasons. If your bank transfer did not arrive at its destination, these could be possible causes:
Processing time-frame
Although Euro SEPA transfers and GBP Faster Payments are usually instant, transfers made via SWIFT (Global Transfer) in EUR, GBP and other currencies can take up to 5 business days. This is because of the structure of the SWIFT network and the procedures that banks have to follow to use this system.
SwissBorg has no power over the SWIFT network, and thus, it cannot speed up a transaction made via this method. Thank you in advance for your patience.
Payment method / currency |
Usual processing time-frame |
|---|---|
SEPA and Instant SEPA / EUR |
Few minutes / Few hours |
Faster Payment / GBP |
Few minutes / Few hours |
SWIFT (Global Transfer) / EUR |
Up to 5 business days |
SWIFT (Global Transfer) / GBP |
Up to 5 business days |
SWIFT (Global Transfer) / All other currencies |
Up to 5 business days |
These numbers apply both to deposits and withdrawals.
Incorrect deposit details
When making a bank transfer, it is important to follow the instructions displayed in the SwissBorg app precisely. Even an incorrect detail can make the transaction fail and bounce back.
For example, when making a CHF deposit, it is essential to enter “SwissBorg Solutions OU” as the beneficiary name. Please, do NOT enter your own name as the beneficiary when depositing CHF.
Name mismatch
It’s essential to understand that you are allowed to fund your SwissBorg account only from a bank account under your name. Third party accounts are not allowed, even if belonging to family members.
Please, check your email box or in-app messages to see if we sent you any information request about your expected deposit.
Can I use a joint bank account?
Yes, you can use a joint bank account, as long as you are co-owner and your full name is entirely broadcast by your bank during the transfer. If that does not happen, the transaction will be stopped for a check, and we may request banking documentation to verify the bank account’s effective ownership.
Can I use my business account?
No, you can fund your SwissBorg account only with your retail personal bank account. Business accounts are not allowed, even if they’re under your own company name.
Account level
Whenever you make a deposit, SwissBorg will calculate the total amount you have deposited in the past. If this amount exceeds your current Account Level, your deposit will remain pending until you will upgrade your account.
Here you can find the documents needed for each level:
Thank you in advance for your cooperation.
Public holidays and weekends
The banking system is subject to public holidays, both national and local. Whenever there is a public holiday, fiat payments can get delayed by several days. This becomes particular relevant during holiday seasons like Christmas and Easter.
Weekends can affect the speed of a transfer too. For example, if you made a deposit on Friday evening, it might get credited the next Monday.
As you can imagine, SwissBorg has no control over these delays. Thank you in advance for your understanding.
Public holidays and weekends can also impact SEPA Instant and Faster Payment.
Downtimes and bugs
Downtimes and bugs are inevitable when working with technology and computerised systems. Even bank transfers can experience disruptions, which can also impact SwissBorg services if any of our banking partners are facing issues.
The most common downtimes are scheduled maintenance procedures, which usually don’t take more than a few minutes or hours. Other kinds of planned disruptions can take longer, for example unexpected events such as network congestion, blackouts, natural disasters, ect.
If none of the above applies to you, or your deposit is still missing after 5 business days, with no refund received, please provide us with a confirmation from your financial institution (you should be able to either download it from your account or request the support team to provide it to you). Please, make sure the document contains the following details:
Sender's full name and account number (or IBAN)
Beneficiary's full name and account number (or IBAN)
Transaction amount
Execution date
Please keep in mind that written notes or emails are not considered an official confirmation. If you experience any issues attaching the document to your message, you can send it to support@swissborg.com.