When making a USD transaction, how you send it matters. The wrong method can lead to slow transfers, high fees, or poor exchange outcomes.
That is where SWIFT, Fedwire, and ACH transfers come in. These are the most common ways to move USD, but they work very differently.
At Leatherback, we simplify international payments by routing your transfer through the right network for your needs. By the end of this guide, you will understand how SWIFT, Fedwire, and ACH work, when to use each one, and what to watch out for.
SWIFT transfer.
SWIFT, Society for Worldwide Interbank Financial Telecommunication, is a messaging network banks use to send international payment instructions. It does not move money. It sends the instructions that tell banks where to send it.
How it works.
Your money may pass through one or more intermediary banks before reaching the recipient. Each bank is identified by a SWIFT code. Intermediaries may charge processing fees along the way.
Swift code.
A SWIFT code, also called a BIC, identifies a specific bank in a cross border transaction. It is usually 8 or 11 characters long. The first four letters identify the bank. The next two show the country. The next two indicate the location. The final three, if present, identify the branch.
Example: CHASUS33XXX refers to JPMorgan Chase Bank in the United States, New York, main office.
If the sending bank does not have a direct relationship with the receiving bank, an intermediary bank is used. In that case, you also provide the intermediary bank’s routing number or SWIFT code.
The recipient’s full name and bank account number.
The recipient bank’s name and address.
The SWIFT or BIC code of the recipient bank.
The currency and amount.
The payment purpose if required.
How long a SWIFT transfer takes.
Most SWIFT transfers take one to five business days. Timing depends on destination, time zones, internal bank processing, and the number of intermediaries.
Banks can provide proof of payment such as an MT103 or telex copy, often for a fee. Leatherback provides telex copies at no extra cost for all SWIFT payments.
ACH transfers.
ACH, Automated Clearing House, is the primary U.S. electronic payment network. It powers payroll, bill payments, and direct deposits. It is low cost, secure, and reliable.
For cross border use, ACH can be routed through international ACH. USD is processed through the U.S. ACH system, then delivered abroad via local clearing networks. This avoids multiple intermediaries and reduces cost and settlement time.
What you need to make an ACH transfer on Leatherback.
Beneficiary name.
Beneficiary country.
Beneficiary address.
Account number.
ABA routing number.
Currency and amount, usually local currency.
Payment reference or purpose if required.
How much an ACH transfer costs.
ACH transfers are usually low cost or free within the U.S. For cross border USD via international ACH, costs remain much lower than traditional wire transfers.
How long an ACH transfer takes.
ACH transfers are processed in batches. Domestic transfers usually settle the same day or within one to two business days. Cross border ACH typically settles within one to three business days.
Delays may occur on weekends or U.S. bank holidays.
Fedwire transfers.
Fedwire is a real time gross settlement system operated by the U.S. Federal Reserve. It is used for high value, time critical USD payments. Each transaction settles individually and instantly.
Although primarily domestic, Fedwire also supports international USD transfers when a U.S. bank is involved, often alongside SWIFT.
What you need to make a Fedwire transfer on Leatherback.
Beneficiary name.
Beneficiary country.
Beneficiary address.
Account number.
Wire routing number.
Currency and amount.
Payment reference or purpose if required.
How much a Fedwire transfer costs.
Fedwire transfers usually cost more than ACH but less than SWIFT. Banks typically charge a flat fee per transfer. This makes it suitable for large or urgent payments.
How long a Fedwire transfer takes.
Fedwire transfers are processed instantly during U.S. banking hours. Funds usually arrive within minutes. International transfers may take longer if SWIFT is required after the Fedwire step.
Side by side comparison.
Which transfer should you use.
Ask yourself these questions.
Are you sending domestically or internationally.
What currency do you need.
How fast do you need the funds.
How large is the payment.
Do you need formal proof such as an MT103.
Common use cases.
Use SWIFT for paying international suppliers, cross currency payments, transfers outside local networks, and large payments that need audit trails.
Use ACH for domestic payroll, bill payments, regional transfers, smaller or frequent payments, and cross border payments using local routing.
Use Fedwire for high value urgent USD payments, domestic B2B settlements, final and irrevocable transfers, and real time institutional payments.
Leatherback simplifies global payments by combining SWIFT, ACH, and Fedwire. Each method serves a clear purpose. We route transactions through the most efficient network so you avoid delays, reduce fees, and maintain predictable cash flow.
