Before you can receive incoming transfers, you need account details that senders can pay into. Once configured, all incoming payments are surfaced through the same incoming transfer credited webhook event and represented by the same incoming transfer resource.
Wise supports two models for receiving incoming payments: Wise-issued local account details and BIC connection (Swift international receive). The model you use depends on your use case.
Wise can issue local account details (IBAN, sort code and account number, routing number, etc.) for balance accounts of supported currencies. Senders use these details to pay into these accounts over local rails like SEPA, Faster Payments, and ACH.
Once issued, account details are in an ACTIVE status. Any incoming payment sent to those local account details will generate an incoming transfer resource and trigger the incoming-transfer#credited webhook event notification.
To learn how to order and manage local account details, review our bank account details guide.
You can connect your own Swift BIC to receive payments into your account on behalf of your customers. This is known as International Receive and it uses a correspondent banking model.
When a sender initiates a Swift payment using your BIC, it will arrive at Wise and be credited to your balance, generating an incoming transfer resource in the same way as local account details payments.
You cannot connect your BIC via API. You'll work with your Wise implementation team, who will ensure it is set up correctly for you. All you need to do is provide us with the BICs you would like us to match and use for depositing funds into your Wise balance account.
You can provide a list of specific BICs or we can configure a starts with match. For example, if we configure BANKDE12 as a starts with match, any branch code starting with that string will be matched (for example, BANKDE12XXX). If you would like us to match specific branch codes, provide them to your Wise implementation team.
Due to the length of time it can take for the Swift network to update the standing settlement instructions for BICs, you should provide a BIC to be used for testing. This should never be a BIC that is in use by your customers or in production. Often this is a separate BIC that is unused or reserved for testing.
Speak with your Wise implementation manager for details about this option and when it is applicable to make this change.
- Subscribe to the incoming transfer credited webhook to be notified when funds are credited to your balance.
- Use the get incoming transfer endpoint to retrieve full payment, sender, and clearing details for each credited transfer.
- Test your configuration in the Wise Platform sandbox environment.