[bisq-network/bisq] Add SWIFT (int. wire transfer) as payment method (#1789)

dav1dpgit notifications at github.com
Mon Feb 17 01:50:51 UTC 2020

- Domestic wires have separate bank identifiers (e.g. internal to the United States = ABA number; internal to AU = BSB), so to bypass this issue we should require the SWIFT wire option in BISQ to be INTERNATIONAL SWIFT payments only.
- This is information of the recipient to be entered by the BTC buyer/fiat sender when executing a trade settled by International SWIFT.
- SWIFT can be any major currency.  Currency is established in the BISQ trade, but we should make the settlement be specific to a currency, so for now we set up the BISQ account to be currency-specific.
- The BISQ naming method will be International_SWIFT_Wire_Transfer_XXX where XXX is the three-letter currency to be used.
**Why would Bisq benefit from adding this payment method? Is is popular in a particular region? More convenient? More safe?**
BISQ benefits by having a cross-border payment methodology that allows for larger flows to happen and attracts more market makers.  Most centralized exchanges accept SWIFT wires in and out; it is a standard method for settlement.  Connects remote trading regions, a strength of BISQ.
**Who can use this payment method?**
Anyone with a bank that permits account holders to make international transfers are able to use this payment method.  Currently there are over 11,000 banks using this in 200 countries.
**How easy is it to cancel a payment once it's made? This is the most important characteristic of a payment method.**
Chargeback is very difficult and requires bank employees to mediate and requires evidence of fraud.
**What information must a user provide to a counterparty to accept a payment?**
Please see below
**How can payments be verified? Examples: TLSNotary is typically used for electronic payments, and receipt scans are typically used for money orders.**
Payments are verified when the cash arrives in the recipients account
**How long do payments take? Please provide a range, as the advertised best-case scenario rarely accounts for edge cases.**
1-3 days is standard and my own familiarity, but can be up to 5-7 days depending on the banks involved
**Does it cost anything to make a transfer using this payment method? If so, how much?**
Yes, the sending party will incur a fee as described in their agreement with the bank.  Receiving party may also incur a (usually smaller) fee, as described in their agreement with their own bank.  These are clear from the outset and usually non-transferrable.  Anecdotal information mentioned an option for a sender to pass SWIFT wire fees to the recipient; in those situations the receiving party will not have received the full amount and we should make it clear that is not an option within BISQ. 
**How easy or difficult is fraud with this payment method?**
Very difficult to send funds one does not have.
**Required or (optional) Fields:**
Receiving bank SWIFT
Country of receiving bank
Address of receiving bank
Intermediary bank SWIFT (optional)
Intermediary bank country (optional)
Intermediary bank address (optional)
Beneficiary (person/recipient) name
Beneficiary (person/recipient) address (optional)
Beneficiary (person/recipient) city (optional)
Beneficiary (person/recipient) country (should equal the country of the receiving bank)
Beneficiary (person/recipient) phone (optional)
Beneficiary (person/recipient) account number
Special Instructions (optional) [3 lines of 35 characters limit]

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