Friday, August 3, 2012

What is a Swift?

Swift Messages / Transfers / Remittances:

Society for Worldwide Inter-bank Financial Telecommunications is known as SWIFT. This is a foundation that was held in 1973 for effective banking communication between banks as there was a huge demand for such a banking communication at that time. This organization is also referred as Belgian Organization. The whole system of swift is applicable to over and above eight thousand banks in almost 200 countries world wide. Now You are thinking.

Why Swifts Messages are so rapidly used?

SWIFT Transfers have become well-known in investment dealing company or commodity trading groups due to their convenience, security and performance. It is because SWIFT Messages are released from financial institution to financial institution or banks to banks, there is little space for the kinds of individual mistakes that can come into perform when seeking difficult duplicates of certification or hard copies of documentation. They are also much faster than conventional techniques of interaction between banks. A SWIFT remittances can be sent and obtained within a few moments or hours, and though they are still time saving, this is much more faster than submitting than email communication channels between banks, and is much more protected.


What are Swift Codes?

There are an excellent many SWIFT requirements which match to various kinds of concept. A SWIFT message is normally created up of the characters ‘MT’, and then a three variable numbers. The ‘MT’ basically appears for ‘message type’, and the figures match to a certain kind of SWIFT concept. For self-evident factors these figures are consistent worldwide and do not modify between banks or financial institutions.

Examples of Swift Codes are:
  • MT103
  • MT799
  • MT760
  • MT199

Swift Transfers remittances

Swift Transfer & Remittances Systems



2 comments:

  1. Sir,

    We are authorized Financial consulting firm and representative of
    banks in United Kingdom: Lloyds Bank,Barclays Bank and HSBC
    bank ...etc

    The above mentioned banks are currently providing project
    Loans,BG,SBLC,MTN,POF,LC,SKR Discounting,Project Funding,Letter of
    credit, and lots more for client all over the world.

    Equally,we are ready to work with Brokers and financial
    consultants/consulting firms and they will be entitled to commission
    fees payment from us in their respective countries.

    Awaiting for your response.
    Mr Ronald Rajnesh Gounder
    Email:grounesh.advisory1@gmail.com
    Skype:grounesh.advisory

    ReplyDelete
  2. Dear Sir/Madam,

    We are direct providers of Fresh Cut BG, SBLC and MTN which are specifically for lease, our bank instrument can be engage in PPP Trading, Discounting, signature project (s) such as Aviation, Agriculture, Petroleum, Telecommunication, construction of Dams, Bridges, Real Estate and all kind of projects. We do not have any broker chain in our offer or get involved in chauffer driven offers.

    We deliver with time and precision as sethforth in the agreement. Our terms and Conditions are reasonable. below is our instrument description.

    The procedure is very simple; the instrument will be reserved on Euro clear to be verified by your bank, after verification an arrangement will be made for necessary bank documents and stock testing expenses, the cost of the Bank Guarantee will be paid after the delivery of MT760.

    DESCRIPTION OF INSTRUMENTS:

    1. Instrument: Bank Guarantee (BG/SBLC) (Appendix A)
    2. Total Face Value: Eur 5M MIN and Eur 10B MAX (Ten Billion USD).
    3. Issuing Bank: HSBC Bank London, Barclays, Credit Suisse and Deutsche Bank Frankfurt.
    4. Age: One Year, One Month
    5. Leasing Price: 6% of Face Value plus 2% commission fees to brokers.
    6. Delivery: Bank to Bank swift.
    7. Payment: MT-103 or MT760
    8. Hard Copy: Bonded Courier within 7 banking days.

    We are ready to close leasing with any interested client in few banking days, if interested do not hesitate to contact me direct. Email: frederick.dtmas@gmail.com

    Regards,
    Mr Frederick D Thomas
    Skype: frederick.dtmas@gmail.com

    ReplyDelete