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what is the SWIFT code ?

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  • author's profile photo Former Member
    Former Member
    Posted on Dec 03, 2007 at 10:30 AM

    hello,

    swift code are nothiung but only the confidential electronic codes given by banks to transfer the fund fom one place to other or internationally through net.

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  • Posted on Dec 03, 2007 at 10:32 AM

    hi Radwa,

    SWIFT code are few characters which differenciate banks. Each bank has one (and only one) SWIFT code. It is used in international money transfers. In SAP it is maintained in BNKA-SWIFT.

    hope this helps

    ec

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  • author's profile photo Former Member
    Former Member
    Posted on Dec 03, 2007 at 01:53 PM

    Hi Radwa

    SWIFT- Society for Worldwide Interbank Financial Telecommunications

    It is a network of over 7000 FI & Banks all over the world and each one is assigned a Unique Code, that is called SWIFT Code. It is a secure (not confidential) way of transferring funds among members.

    International vendor payments are generally routed thro SWIFT member banks for easy, efficient and secure fund transfer.

    S Jayaram

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