What Are Bank Transfers?
Bank transfers allow your clients to send payments directly from their bank account to yours. This payment method is widely trusted, especially for business-to-business transactions and larger amounts where clients prefer the security and familiarity of traditional banking.
With Plaen, you can accept both domestic and international bank transfers. We handle all the complexity of banking networks, compliance, and reconciliation, so you can focus on your business while we ensure you get paid safely and on time.
Types of Bank Transfers
Domestic Transfers
Bank transfers within the same country, usually processed within 1-2 business days.
International Transfers
Cross-border payments using SWIFT network, typically taking 3-5 business days.
How Bank Transfers Work
When you send an invoice with bank transfer as a payment option, your client will receive detailed banking instructions including your account details, reference numbers, and any specific information needed for the transfer.
Step 1: Client Initiates Transfer
Your client logs into their online banking or visits their bank branch to initiate the transfer. They'll use the banking details provided in your invoice, including the reference number to ensure proper identification of the payment.
Step 2: Transfer Processing
The bank processes the transfer through secure banking networks. Domestic transfers typically clear within 1-2 business days, while international transfers may take 3-5 business days depending on the countries involved.
Step 3: Automatic Reconciliation
Once the transfer arrives in your account, Plaen automatically matches it to the corresponding invoice using the reference number. Both you and your client receive confirmation, and the invoice is marked as paid.
Setting Up Bank Transfers
To accept bank transfers, you'll need to provide your banking details in your Plaen account. This includes your bank name, account number, routing information, and any other details required for transfers in your region.
For international transfers, you may also need to provide your bank's SWIFT code and correspondent banking information. Don't worry - we'll guide you through exactly what information is needed based on your location.
Supported Countries
We currently support bank transfers in the following countries and regions:
Expanding Coverage
We're constantly adding support for more countries and banking networks. Contact us if your country isn't listed above.
Fees and Processing Times
Bank transfer fees vary depending on whether the transfer is domestic or international. Domestic transfers typically cost 1-2% of the transfer amount, while international transfers may cost 2-4% plus a small fixed fee for currency conversion if applicable.
Processing times are generally predictable: domestic transfers process within 1-2 business days, while international transfers take 3-5 business days. All transfers are subject to banking hours and may be delayed during weekends and bank holidays.
Security and Compliance
Bank transfers are among the most secure payment methods available. All transfers are processed through established banking networks with multiple layers of fraud protection and regulatory oversight.
We comply with international banking regulations including Anti-Money Laundering (AML) and Know Your Customer (KYC) requirements. This ensures that all transfers are legitimate and helps protect both you and your clients.
Need Help?
If you need help setting up bank transfers or have questions about fees and processing times, our support team is ready to assist you. Contact us through the chat widget or email support@plaen.com.