That's because the banks still use an old system to exchange money. We recommend you use Wise (formerly TransferWise), which is usually much cheaper. With their smart technology:
You get a great exchange rate and a low, upfront fee every time. You move your money as fast as the banks, and often faster – some currencies go through in minutes. Your money is protected with bank-level security. You join over 2 million customers who transfer in 47 currencies across 70 countries. The registrations of SWIFT Codes are handled by Society for Worldwide Interbank Financial Telecommunication ("SWIFT") and their headquarters is located in La Hulpe, Belgium. SWIFT is the registered trademark of S. W. I. F. T. SCRL with a registered address at Avenue Adèle 1, B-1310 La Hulpe, Belgium.
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