SWIFT, which stands for Society for Worldwide Interbank Financial Telecommunication, is a global messaging network that financial institutions use to securely transmit information and instructions related to financial transactions. When you make a payment using the SWIFT method, your funds are transferred through this network, allowing for reliable and traceable international payments. 

 

Why is this page important?

Knowledge of SWIFT is important for clients engaging in international transactions, as it impacts the speed and security of their payments.

Next Steps

1. Ensure your bank supports SWIFT transactions.

2. While Creating a Recipient, you can select payment method - 'SWIFT'.

3. While creating a Payment, select the correct recipient with SWIFT payment method.

4. Review on the Payment Confirmation that correct payment method is displayed. 

Other Useful Articles

• What is OFX Direct?
• How do I update the recipient from SWIFT to OFX direct?