Garanti BBVA Becomes First Bank in Türkiye to Join Swift’s New Payment Scheme
Garanti BBVA has joined Swift’s new payment scheme as a sending bank—a first for Türkiye—offering customers faster, more transparent international money transfers with upfront fee visibility and end-to-end tracking. The service is initially available for transfers to the UK, Spain, Australia, the US, and Germany.
Under the new scheme, customers can see transfer fees clearly before initiating a transaction, know that the full amount sent will reach the recipient, and track the status of the transfer through digital channels at every stage. The aim is to reduce the uncertainty, surprise charges, and long waiting times often associated with traditional international transfers.
Garanti BBVA Executive Vice President Cemal Onaran said the integration delivers not just faster transfers but also greater control, visibility, and confidence for customers conducting international transactions. “Our goal was to make the international payments experience faster, more transparent, and more predictable for our customers,” he said, adding that the bank will continue to bring the latest solutions in the financial sector to all its customers.
Hikmet Can Yılmazsoy, Swift’s Regional Manager for Türkiye, the Caucasus, and Central Asia, said customers now expect the same speed, transparency, and predictability from international transfers as they are used to with domestic payments. “Today’s technology makes it possible to offer a much better customer experience in cross-border payments, and we are delighted to be working with banks around the world to make this transformation a reality,” he said.
Available for five countries in the first phase
The new scheme is open to both retail and commercial customers. In the event of a rejected transaction, the system provides clearer and easier-to-understand information, and new tracking screens integrated into mobile channels allow customers to manage the transfer process more easily. The scheme applies to transfers made through the payment networks of the five destination countries and in their local currencies. Full speed and transparency standards are operational for transfers to the UK, Spain, and Australia, while the fast payment experience for the US corridor is initially limited to selected banks, and transfers to Germany are available during the recipient country’s business hours.