This section provides a guide on how to perform operations pertaining to SWIFT Schemes on the Planet, with step-by-step instructions and pictures.
WHAT IS SWIFT?
SWIFT stands for Society for Worldwide Inter bank Financial Telecommunication. The SWIFT system provides a global network that enables financial institutions worldwide to send and receive information about financial transactions in a secure, standardized and reliable environment. It facilitates the transfer of financial messages between financial institutions. Using these messages, banks can exchange data for funds transfer between financial institutions. All financial institutions operating on this network have a SWIFT Code. A SWIFT code is an international bank code that identifies particular banks worldwide. It is also known as a Bank Identifier Code (BIC). It consists of 8 or 11 characters.
Under this control panel feature, the software provides a list of financial institutions and their SWIFT codes. Operations include editing, deleting, downloading and adding new SWIFT codes, with options to carry out operations individually or in bulk.
