SWIFT payments via Cobase

Planned: 365 business Banking is to connect bank accounts via SWIFT, with Cobase as the banking provider. This is to enable payments outside the SEPA area in almost any currency. The feature is not available yet.

Business Value

For companies with international business relationships, SEPA credit transfers are not enough. SWIFT connects financial institutions worldwide and enables cross-border payments in almost any currency. With Cobase as provider, Business Central is to reach banks outside the SEPA area as well and handle statements and international payments of these accounts like any other bank connection.

Feature Description

A separate SWIFT Bank Account service for Account Information Service and Payment Initiation Service is planned. Payments of these accounts follow the International scheme. Until then, you carry out international payments via EBICS if your bank offers foreign credit transfers, or via the camt/pain file with Payment Scheme International.