The World Before SWIFT . Before SWIFT, Telex was the only available means of message confirmation for international funds transfer. Low speed, security concerns, and a free message format hampered ...

Read on to learn about SWIFT codes and their importance in global money transfers. What Is a SWIFT Code? SWIFT stands for Society for Worldwide Interbank Financial Telecommunication.

The bank-to-bank transfer using the SWIFT system was symbolically important, indicating the war-torn country was reintegrating into the global financial community.

Syria this week carried out its first international bank transfer via the SWIFT international payment system since the outbreak of the country’s 14-year civil war, central bank governor Abdelkader ...

When Do You Need a SWIFT Code? A SWIFT code is needed when someone wants to transfer money internationally. When you want to send money internationally, provide your bank with the SWIFT code for ...