Social taxonomy and Society for Worldwide Interbank Financial Telecommunications: Difference between pages
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(SWIFT). A co-operative organisation created and owned by banks that operates a network which facilitates the exchange of payment and other financial messages between financial institutions (including broker-dealers and securities companies) throughout the world. | |||
It is a major international financial telecommunications network that transmits international payment instructions as well as other international financial instruments or messages. | |||
A SWIFT payment message is an instruction to transfer funds; the exchange of funds (settlement) subsequently takes place over a payment system or through correspondent banking relationships. | |||
== See also == | == See also == | ||
* [[ | * [[Bank identifier code]] | ||
Revision as of 14:20, 23 October 2012
(SWIFT). A co-operative organisation created and owned by banks that operates a network which facilitates the exchange of payment and other financial messages between financial institutions (including broker-dealers and securities companies) throughout the world.
It is a major international financial telecommunications network that transmits international payment instructions as well as other international financial instruments or messages.
A SWIFT payment message is an instruction to transfer funds; the exchange of funds (settlement) subsequently takes place over a payment system or through correspondent banking relationships.
See also