What is the difference between local and international payments?

When you send funds through Freemarket, payments are routed via either local or international rails depending on the destination and currency. This routing happens automatically behind the scenes based on the most efficient route for each transaction. Local payment rails will be used where available, such as Faster Payments and SEPA, and international (SWIFT) routes as needed.  

Local transfers typically offer faster delivery and lower fees, as they use domestic clearing systems without involving intermediary banks. International transfers, on the other hand, are used when no local option is available and are routed through the SWIFT network. These can take longer to process and may incur additional fees.