Glossaire

SWIFT messages are the messages generated when funds are transferred internationally using the SWIFT international payment network.SWIFT stands for the Society for Worldwide Interbank Financial Telecommunication and is renowned as having the fastest, most secure method for sending financial messages internationally.The main advantages of SWIFT messages include:The fact that all of the details relating to an international payment are outlined in the message, including the costs and time periods involved.Traceability is built into the entire process. SWIFT makes it easy to obtain proof of client payment, which is crucial for many businesses. This guarantees that clients (or the clients’ suppliers) can trace the transaction status and the location of the funds at any step of the transit period.SWIFT payments are considered extremely reliable. No message has ever been lost since the system was established in the 1970s, from the more than 15 million SWIFT messages that are sent over the world each day.

A SWIFT payment is a cross-border payment processed through the Society for Worldwide Interbank Financial Telecommunication international payment network. This procedure is internationally recognised as the fastest and most secure system for sending financial messages internationally.The SWIFT international payment network sends more than 15 million payments every day and has not lost the documentation of a single transfer in its over 40-year history. Any failure to send funds to their payment destination is due to errors in the details included in the SWIFT payment.The vast majority of the world’s interbank network use SWIFT. Over 10,000 financial institutions worldwide operate in over 200 countries and territories with SWIFT.