Activation and recommended start dates
Depending on how you plan to connect to SWIFT, the average lead-time is as follows:
- Private infrastructure: 3 months
- Shared connection: 2 months
The Onboarding process lead-time is depending on how fast the required documents are provided.
When all the documents are received, the onboarding application is presented for SWIFT approval (lead-time 2 to 3 days).
Once approved the implementation phase can start.
The operational readiness is to be confirmed on the Friday for a live activation date on the Saturday of the following week.
Activations in Live occurs on a weekly basis (every Saturday). The BIC will be published in the daily files as from the activation date.
The BIC will be published in the monthly files on the first Saturday of the following month (2 weeks lead time) and in the next possible paper quarterly directory.
There are three pre-requisites to go Live on the SWIFT network:
- No overdue invoices
- KYC self-attestation completed
- Direct Debit implemented if confirmed as being mandatory during the onboarding process