What are SWIFT Payments?

SWIFT is the world’s leading global financial settlement and messaging facility, transmitting information and financial messages related to payments and transactions worldwide. Swift’s international transaction network operates in almost all countries of the world and between almost all currencies. As not all financial institutions are directly connected to SWIFT, they use correspondent banks, which act on behalf of those institutions in accordance with mutual agreements. Therefore, fees may be charged by several different institutions per transaction.

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