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
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
Add a comment