Bank of America, JPMorgan Chase Join Swift Payments Framework

Swift’s global messaging network remains central to correspondent banking, but retail cross-border transfers can still carry unpredictable charges, deductions and delays in the final leg. Its new framework is designed to give consumers and small businesses upfront fixed fees, full-value delivery, end-to-end tracking and near-instant settlement where local infrastructure permits, helping banks counter non-bank payment providers using stablecoins to offer cheaper, always-on international transfers.

Swift detailed the rollout on March 5, 2026, with Bank of America, JPMorgan Chase and nearly 60 banks in the initial group. More than 25 institutions were scheduled to begin processing payments by the end of June across corridors serving 11 markets, including the United States, Britain and India. The framework targets high-volume, low-value transfers; Swift has not disclosed a standard per-transaction fee, saying charges will be affordable and fixed upfront.