Society for Worldwide Interbank Financial Telecommunications: Difference between revisions
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Revision as of 16:18, 29 November 2014
(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
Other links
- Society for Worldwide Interbank Financial Telecommunications http://www.swift.com/index.page?lang=en
