Ehab Posted March 26, 2011 Report Share Posted March 26, 2011 Dear All, Can someone kindly guide me into having an answer !!!! " What is S.W.I.F.T ??? " and what are the practical steps to be involved ??? Thanks in advance for your response, Link to comment Share on other sites More sharing options...
Root Admin MrD Posted March 29, 2011 Root Admin Report Share Posted March 29, 2011 SWIFT stands for- Society for Worldwide International Financial Telecommunication. The SWIFT code of a bank is an alphanumeric code that uniquely identifies your financial institution. SWIFT code is also known as BICor Bank Identifier Code. You do not need to know your bank's SWIFT code unless you are doing international transactions. The SWIFT code consists of 8 or 11 characters. When 8-digits code is given, it refers to the primary office. First 4 characters - bank code (only letters) Next 2 characters - ISO 3166-1 alpha-2 country code (only letters) Next 2 characters - location code (letters and digits) (passive participant will have "1" in the second character) Last 3 characters - branch code, optional ('XXX' for primary office) (letters and digits) Link to comment Share on other sites More sharing options...
Ehab Posted April 2, 2011 Author Report Share Posted April 2, 2011 Dear Dennis, Thank you so much for your kind reply. Link to comment Share on other sites More sharing options...
Waseem Anwer Posted May 4, 2011 Report Share Posted May 4, 2011 The "Society for Worldwide Interbank Financial Telecommunication" ( 'SWIFT' ) operates a worldwide financial messaging network which exchanges messages between banks and other financial institutions. SWIFT also markets a software and services to financial institutions, much of it for use on the SWIFTNet Network, and ISO 9362 bank identifier codes (BICs) are popularly known as SWIFT CODES. Link to comment Share on other sites More sharing options...
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