Beneficiary leg: Difference between revisions
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The beneficiary leg is a concept in correspondent banking. | The beneficiary leg is a concept in correspondent banking. | ||
A correspondent banking payment over SWIFT - | |||
A correspondent banking payment over SWIFT - and the total time it takes to be credited to the beneficiary's account - can be viewed as comprising: | |||
*Originator leg | *Originator leg | ||
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== See also == | == See also == | ||
* [[Agency]] | * [[Agency]] | ||
* [[Beneficiary]] | |||
* [[Correspondent banking]] | * [[Correspondent banking]] | ||
* [[Deduct from beneficiary]] | * [[Deduct from beneficiary]] | ||
| Line 35: | Line 37: | ||
==Other resource== | ==Other resource== | ||
*[https://www.fsb.org/uploads/P211024-3.pdf Annual Progress Report on Meeting the Targets for Cross-border Payments - October 2024 - Financial Stability Board | *[https://www.fsb.org/uploads/P211024-3.pdf Annual Progress Report on Meeting the Targets for Cross-border Payments - October 2024 - Financial Stability Board] | ||
[[Category:Accounting,_tax_and_regulation]] | [[Category:Accounting,_tax_and_regulation]] | ||
[[Category:Financial_products_and_markets]] | [[Category:Financial_products_and_markets]] | ||
[[Category:The_business_context]] | [[Category:The_business_context]] | ||
Latest revision as of 01:19, 7 February 2025
Payments - correspondent banking - SWIFT.
The beneficiary leg is a concept in correspondent banking.
A correspondent banking payment over SWIFT - and the total time it takes to be credited to the beneficiary's account - can be viewed as comprising:
- Originator leg
- In-flight leg and
- Beneficiary leg.
The beneficiary leg is the time from the beneficiary bank receiving the payment until the
funds are credited to the end-customer’s account.
The beneficiary leg can form a large element of total processing time, and be a source of undue delay.
(Source - Annual Progress Report on Meeting the Targets for Cross-border Payments p45 - October 2024 - Financial Stability Board.)
See also
- Agency
- Beneficiary
- Correspondent banking
- Deduct from beneficiary
- Documentary collection
- In-flight leg
- Network bank
- Nostro account
- Originator leg
- Payments and payment systems
- SLA partner banking
- Society for Worldwide Interbank Financial Telecommunications (SWIFT)
