Domestically - yes. Internationally - SWIFT is no cheaper really, but comes with some restrictions.
For example I can accept my earned money on account in Ukraine, pay taxes here, but can't send it back to an investment account somewhere EU. This just can't be done.
Even more sillier - some time ago it was illegal to merely have an account in foreign bank without obtaining personal license from central bank here.
So yes, there are cheaper ways and there are simpler things and there was people who were sent to GULAG for doing "illegal money transactions".
