How to withdraw funds to a bank account in the SWIFT system?

SWIFT   may be used only to transfer funds to accounts at Russian banks. Currently, funds may be withdrawn only in EUR  (euro). 

❗️Important

Funds may not be withdrawn to banks that are on the sanctions list (Sberbank, VTB, Gazprombank, Rosselkhozbank). 

 Let’s use the example of Tinkoff Bank to take a look at the withdrawal of funds through a SWIFT transfer: 

 1. You need to open a euro account through the Tinkoff bank’s app (in your personal account, go to the “Add currency” item) 

 2. Tap on the “bank account details” button of the foreign currency account that you have opened 

 3. Select the option “In euro”, to get the details of the foreign currency account in euros 

 4. Return to Vexel app 

 5. Click on the account from which you would like to make a transfer (make sure that you have selected the correct account and that the balance is sufficient to make a transfer) 

 6. Click on the “Withdraw” button

 7. In the “Withdrawal method” section select “SWIFT” 

 8. Enter the amount that you would like to transfer 

 9. Enter the beneficiary’s details in the “Beneficiary’s details”. Make sure you fill out the “Beneficiary details” field correctly, because if the information is incorrect, the payment will be rejected and the funds will bounce back shortly

 10. Go back to the Tinkoff bank app, copy the data from the “Beneficiary” field and paste it in the “Full Name” name field  in the Vexel app 

Similarly, you have to fill out the following fields:

-Beneficiary’s account

-Beneficiary’s address

-Beneficiary’s country

-Bank

-SWIFT bank

-Bank address

-Bank country

-Payment details (user data entered during the verification process on the Vexel platform must match the user data at the beneficiary bank) 

Data must be entered in English letters only. It is best to copy the information from the Tinkoff app and paste it into the Vexel app to make sure you don’t make a mistake. 

11. After you have carefully reviewed the details and made sure that the information has been entered correctly, click on the Withdraw funds button

 This operation will be completed within three business days, and the funds will be credited to your bank account.