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SWIFT System in Banking Transactions

SWIFT is a Belgian creation that rightly stands for ‘Society for Worldwide Interbank Financial Telecommunications’. It was initiated in 1973 with its headquarters in Belgium. The main reason behind its formation was the growing need for an internationally sound communications network that could facilitate business transactions across borders effectively, quickly, and securely. During the initial […]

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A few ways to get your SWIFT code

SWIFT code is a standard code of 8-11 characters used by banks to transfer money overseas. While sending payment overseas this code helps you to identify the receiving (beneficiary) bank or financial institution. Below are a few tips on how to get a SWIFT code without troubling yourself much: Always use an active SWIFT/BIC code. […]

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Difference between SWIFT code and Routing Numbers

SWIFT code or Society for Worldwide Interbank Financial Telecommunication and routing numbers are both used for financial affairs. They are used to identify bank transactions both nationally and internationally. Certain banking institutes use them for identifying their respective bank accounts, while some consider SWIFT code and routing numbers to be the its trademark. But in […]

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