Local payments use domestic networks like SEPA (EUR), ACH (USD), or FPS (GBP) to move funds within a region. They’re usually faster, cheaper, and require local bank details.
SWIFT payments move funds across borders via the global SWIFT network. They support more currencies and countries, but are typically slower and more expensive due to intermediary fees.
Request automatically chooses the best method based on currency, destination and availability. Note that some local rails require a separate verification.
Here's a comparison:
Feature | Local | SWIFT |
Speed | Fast (same/next day) | Slower (1-5 days) |
Minimum fee | $10 | $30 |
Coverage | Limited to certain areas | Global |
Use Case | Domestic/regional | Cross-border |