Society for Worldwide Interbank Financial Telecommunications: Difference between revisions
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imported>Doug Williamson (Link with SWIFT gpi page.) |
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* | * [http://www.swift.com/index.page?lang=en Society for Worldwide Interbank Financial Telecommunications] | ||
[[Category:Cash_management]] | [[Category:Cash_management]] | ||
Revision as of 09:18, 12 April 2017
(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
