Swift, ACH, or Wire: Which International Payment Method Should Businesses Choose?

The world of international payments has become more complex, but also more accessible for Ukrainian entrepreneurs. Today, companies, freelancers, and e-commerce businesses can receive payments from anywhere in the world. The key is to select the appropriate international payment method tailored for Ukrainian enterprises.

The most common systems are SWIFT, ACH, and Wire transfers — each works on different principles and is suitable for varied purposes. SWIFT is a global network of bank messages that enables official international payments between companies. ACH is primarily used in the US for domestic transfers, while wire transfers are a fast way to transfer funds between accounts within the same country or across international borders.

For Ukrainian businesses, understanding these differences is critically important, as the speed of receiving funds, the amount of commissions, and even tax consequences depend on the chosen method.

In this article, we will analyze in detail how international payments work, what the difference is between SWIFT, ACH, and wire, and help you choose the best option for your business. We will also examine how integration with fintech platforms, such as Payoneer, enables entrepreneurs to receive payments from foreign customers more quickly and profitably.

How can a Ukrainian business accept money from foreign clients?

Wondering how to receive payment from foreign customers? It may seem simple, but traditional bank transfers are often slow and expensive. The reason is a complex chain of participants (sender’s bank, correspondent banks, recipient’s bank), different time zones, and bank cut-offs (transaction completion times). As a result, a transfer that should be fast takes up to 5 business days, and businesses lose flexibility. That is why companies are increasingly comparing SWIFT, ACH and wire.

Why is a classic bank transfer too slow?

• Multiple intermediaries. Correspondent banks add checks and their own processing time.
• AML/KYC checks. Banks may ask for an invoice, contract, or explanation, which is normal, but delays the movement of funds.
• Time zones and weekends. If the payment is sent after the bank deadline, it will go out the next business day.

Why is a classic bank transfer quite expensive?

• Total commissions. The sender, intermediaries, and, often, the recipient’s bank pay; in the end, a significant amount accumulates.
• Conversion. If the invoice currency does not match the account currency, an exchange margin is added.
• Return/trace. If there is an error in the IBAN/BIC or an unclear purpose for the payment, there will be a refund and possible new charges incurred.

Typical difficulties of classical international payments for Ukrainian businesses

• Commissions that are difficult to predict. Especially when there are several correspondents on the route.
• Compliance delays. Banks have the right to stop payment until documents are received.
• Currency control. Incorrect invoices/accounts or inconsistencies in wording in the allocation of funds, prompt a request for additional explanations.
• Human factor. One incorrect letter or number in the BIC/IBAN and the payment is returned.

What is SWIFT and how does it work?

SWIFT is a global network for exchanging financial messages between banks. It does not physically transfer money, but sends standardized instructions including to whom the payment should go, how much, and in what currency. Banks then debit/credit the funds to real accounts.

SWIFT route: Sender → Sending bank → Correspondent bank(s) → Receiving bank → Recipient.

International interbank transfer system

SWIFT provides standardized formats and a reliable infrastructure, so it is often chosen as the primary system for international payments for businesses.

Banks exchange unified messages, and payments are checked and routed through a network of correspondent institutions — this reduces the risk of errors and makes the transfer delivery process predictable.

Official B2B settlements under international agreements, payment of significant contracts in different currencies, and transparent reporting for accounting and compliance are of great practical importance for Ukrainian companies working with foreign partners. Banks and regulators accept international SWIFT transfers in all parts of the world, so when choosing SWIFT, ACH or Wire, SWIFT frequently becomes the base standard for international payments for Ukrainian businesses.

Advantages of SWIFT 

• Global acceptability. SWIFT is the global standard for international payments for business: it operates in hundreds of jurisdictions and supports large B2B contract operations.
• Unified protocols. Thanks to unified messages, banks can easily reconcile details, reducing the risk of errors and ensuring the predictability of how international payments work.
• Transparency and control. International payments for business SWIFT systems provide transparency and control: status tracking (GPI), fee breakdown, and AML/KYC compliance. All of this is also critical for Ukrainian businesses receiving international payments.
• Multicurrency. It’s convenient to pay large invoices in the desired currency without unnecessary chains.

Disadvantages of SWIFT  

• Times of crediting. Payments can take 1-5 business days due to checks, time zones, and bank cut-offs, making planning difficult, even if you have a good understanding of how international payments work.
• Total fees. The final cost includes fees from the sending bank, intermediary (correspondent) banks, and the recipient bank; sometimes tracking/clarification costs are added.
• Currency conversion. If the invoice currency differs from the account currency, an exchange margin is applied; with frequent transactions, this significantly affects overall costs in international business payments.
• Risk of compliance delays. Additional AML/KYC checks, invoice, or contract requests may temporarily suspend payment.
• Dependence on the route. Each correspondent bank has its own rules, fees, and processing schedules, the tracking of which is not always equally transparent throughout the process.
• Operational complexity. It is necessary to agree in advance on the invoice currency, the commission distribution scheme (OUR/SHA/BEN), and the documents to be prepared; therefore, both costs and payment time increase.

What is an ACH payment, and when is it used?

ACH (Automated Clearing House) is an American clearing network for cashless domestic payments in the United States. The sender’s bank sends a file with transactions to the ACH operator, which then transfers them to the recipient’s bank, where the amount is credited to the account. The ACH system is local within the United States, but ACH payments are often chosen to receive payments from US customers even in international transactions.

How the ACH system works in the US 

First, the company or platform creates a request: it can be a transfer to the recipient or a debit from the payer’s account in US dollars. The amount, details, and execution date are added to the request. Then the bank combines multiple transactions into a single batch and sends it to the ACH network. Because of this, an ACH payment is cheaper but not instant: the standard processing time is 1-2 business days. ACH has limits, processing time windows, and rules for returning/rejecting transactions (e.g., if details are incorrect or there is no authorization for the debit). These rules keep ACH a relatively safe and predictable method of domestic payments in the US.

For which businesses is ACH beneficial?

An ACH payment is best suited for regular, inexpensive domestic payments, specifically in the US. If your customers or platform operates in the United States, ACH will help reduce costs and simplify the process.

For the following scenarios, an ACH payment is often cheaper and more stable than a classic bank transfer or SWIFT for small checks:

• Regular payments in the USA: salaries, subscriptions, recurring charges, and invoice payments in USD.
• Freelancers and outsourced teams with clients in the US. Small but consistent invoices in USD; low fees are more important than instant speed.
• SaaS/e-commerce with customers in the US: lower cost of accepting payments, convenient billing automation.
• Agencies, studios, consulting. Monthly contributions from American customers.

Why ACH is not always available for Ukraine

ACH is an internal US system. Ukrainian banks are not directly connected to it, so an ACH payment cannot go directly to your Ukrainian account. That is why, when the choice arises, SWIFT, ACH or wire, it should be understood that ACH operates only within the United States.

How to receive payment from foreign customers from the USA in ACH format? Usually this is done through an intermediary, such as a fintech provider that provides local details in the USA. The client pays in dollars via ACH. The funds are credited to your local balance with the provider, and then you withdraw them via SWIFT to your account in Ukraine.

At the same time, providers apply AML/KYC, limits on amounts and speed of crediting. This must be taken into account when considering international payments for Ukrainian businesses. 

To sum up, ACH is optimal for domestic payments in the US as it is cheaper and predictable. To deliver funds to Ukraine, channels are usually combined, with receipt in the US via ACH, and withdrawal via SWIFT. If there is a choice, SWIFT, ACH or wire, ACH is useful as a receiving channel from American clients, and then the funds are usually delivered to Ukraine via SWIFT.

Wire transfer: What is it and how does it differ from SWIFT

A wire transfer is an electronic bank transfer where money is sent directly from the sender’s account to the recipient’s account, without the involvement of intermediaries. In the US, this term usually refers to domestic transfers through the Fedwire or CHIPS systems.

If we are talking about wire for international payments for business, it goes through the SWIFT system, which transmits instructions to banks for debiting and crediting funds. That is, wire is a non-cash method of transferring money, and SWIFT is a network that provides secure exchange of payment data between banks.

Advantages of wire transfer

• Speed. Transfers within one country usually arrive within a few hours; international transfers take up to 2 days.
• Direct transfer. The money arrives in the recipient’s account without intermediaries, reducing the risk of delays.
• Reliability. All transactions go through banks with complete verification of the sender and recipient.
• Support for large sums. Wire transfers are convenient for B2B transactions, contracts, and the purchase of goods or services.
• International coverage. Supported by banks in most countries worldwide, making it universal for international business payments.

Disadvantages of wire transfer

• High cost. Banks charge a commission from both the sender and the recipient; sometimes intermediaries are also added. On average, a transfer costs from $20 to $50.
• Irreversibility of payment. Once the money has been sent, it is almost impossible to cancel the transfer — you need complete control over the details.
• Dependence on banking hours. Transfers are only made during bank business hours, so they are delayed on weekends or holidays.
• Lack of full tracking. If funds are delayed, it is difficult to quickly determine at what stage they are stuck.
• Restrictions for small businesses. For regular small amounts, wire is often unprofitable due to high fees, so many people choose alternatives, such as Payoneer.

When to choose wire transfer

A wire transfer is advisable for large sums when speed and reliability are crucial. This method is suitable for:

• Large B2B deals — for example, payment for contracts between companies in different countries.
• Transfers between banks that are not connected to ACH or SEPA. In this case, wire is a universal option.
• International payments for businesses require confirmation of the transfer from the bank.
• Official settlements under contracts, where a documentary trail is important (invoice + SWIFT confirmation).
• Urgent transactions, when SWIFT or other methods may delay crediting.

If you decide how to receive payment from foreign customers for large companies where stability and control are a priority, wire transfer remains one of the most reliable methods.

What international payment method should Ukrainian businesses choose?

When working with foreign clients, Ukrainian entrepreneurs have to choose between SWIFT, ACH or wire. Not only the speed of receiving funds, but also the amount that the business will ultimately receive after all commissions and conversions affects the choice. The primary difference between SWIFT and ACH is that the former is used for global transactions. In contrast, the latter is primarily used within the U.S. Wire, in turn, covers both domestic and international transfers, but incurs higher fees.

Ukrainian companies need to understand how international payments work, as each system has its own unique rules, processing times, security levels, and associated costs. The choice depends on who your customer is, where they are located, the amount they are sending, and how frequently they transact.

If you receive payment from the USA → Payoneer + SWIFT

For Ukrainian companies that cooperate with American customers, the ACH payment system is not directly accessible. Ukrainian banks are not connected to it, so you might want to know: how to receive payments from foreign customers from the USA? The most convenient way is through a fintech solution, such as Payoneer. The platform provides you with local bank details in the US, meaning the client pays via ACH, and you receive the payment in your Payoneer account. You can then withdraw these funds via SWIFT to a Ukrainian bank. It’s faster, cheaper, and much easier than a direct bank transfer.

If you have customers in the EU → SEPA or Payoneer

For businesses that conduct transactions with Europe, SEPA transfers are the preferred option. They are designed for payments in euros within the EU and cost much less than a bank transfer or a SWIFT payment. Crediting usually occurs within one business day. If you want to consolidate payments from the EU, the USA, and other countries into a single interface, choose Payoneer, which supports multi-currency accounts (EUR, USD, GBP, etc.) and lets you centrally manage your earnings.

For large amounts → SWIFT or wire

When it comes to international payments for businesses involving large amounts, such as the export of goods, payment of contracts, or consulting services, SWIFT or wire transfer may be the optimal solution. They provide complete transparency, official documentary confirmation, and high reliability. Such transfers are recognized by all banks worldwide, which makes them the standard for B2B contracts. The only downside is the high commission, so for regular small transfers, it is worth looking for other options.

For online sales → Payoneer Checkout

If your business operates in the e-commerce, freelance, or marketplace space, Payoneer Checkout may be a good fit. This tool allows you to accept payments from Visa, Mastercard, and other systems directly into your Payoneer account. The advantage is speed — funds are credited within a few hours, and currency conversion is automatic and transparent. This makes international payments for Ukrainian businesses simpler, safer, and more efficient.

Comparison table: SWIFT, ACH, or wire (International payments for business)

CRITERION	SWIFT	ACH payment	Wire transfer
Geography	Globally (interbank message)	USA (domestic)	USA (domestic) / international via SWIFT
Speed	1–5 days	1–2 days (same-day available)	US Domestic: Fast; International: 1–5 days
Commissions	Higher (correspondents)	Low	Higher than ACH; international — comparable to SWIFT
Amounts/purpose	Large B2B, invoices, contracts	Regular payments, subscriptions, salary	Deadlines within the US, large checks
Accessibility for Ukraine	Yes, through banks	Indirect (through providers)	International via SWIFT; not used domestically within the US
Risks/errors	IBAN/BIC errors, AML, delays	Losses due to limits/denials	Cost and routes, cut-off

How to optimize international payments — business tips

After choosing between Payoneer, SWIFT, ACH or wire, it is important to organize financial processes correctly so that international payments for Ukrainian businesses are as profitable and safe as possible. Below are some practical tips that will help you avoid unnecessary costs and delays.

1. Minimize conversion fees

Negotiate with your clients to pay in the currency your account is opened in. If you invoice in dollars and receive euros, you will incur a double conversion, resulting in some of your profit being lost to exchange rate fluctuations. Use multi-currency accounts (USD, EUR, GBP) to receive payments without automatic exchange.

2. Use multi-currency solutions

Platforms like Payoneer allow you to create accounts in multiple currencies and accept payments from customers in different countries. This makes it easier to handle international payments for business and helps you avoid unnecessary conversion costs.

3. Compare the rates of banks and payment systems

Commissions can vary significantly even under the same conditions. For example, a bank or SWIFT transfer can cost $30–40, while a Payoneer transfer may incur a few percent commission or none at all. Before sending a payment, check the terms of both parties — both the sender and the recipient.

4. Choose platforms with automatic invoicing

Tools that allow you to create invoices online (like Payoneer) save time for financial managers. They automatically add details, the bank SWIFT code, and the payment currency, significantly reducing the risk of errors and delays.

5. Comply with exchange control requirements

It is important for Ukrainian businesses to prepare documents when receiving foreign payments properly. Keep invoices, contracts, and bank statements — this will help avoid questions from the tax authorities and confirm the source of income.

Conclusion: Finding the best solution for your individual business

In international settlements, there is no one-size-fits-all approach. Each tool, whether SWIFT, ACH, or Wire, has its advantages and limitations, and the choice depends on your goals, volume, and business geography.

Optimizing international payments is all about consistency. Instead of choosing one channel, consider combining solutions: for example, accept payments from the US via ACH in Payoneer and from Europe via SEPA or SWIFT. This approach will help reduce costs and speed up the flow of funds.

• SWIFT is suitable for large transactions and B2B contracts, where formality and complete transparency are crucial.
• ACH is the optimal solution for domestic transfers in the US, particularly if you need to minimize fees.
• A wire transfer is advisable for urgent payments that must arrive within 24 hours.

For small businesses, freelancers, and online sellers, Payoneer Checkout remains the most convenient alternative — it combines speed, simplicity, and minimal costs, making international payments for Ukrainian businesses affordable and effective.

Frequently asked questions (FAQs)