Aug. 16, 2022
Details about money transfers through the SWIFT system
Every year, more and more service providers move online and, sometimes, to pay for something, we need to make transfers rather than card payments. The SWIFT system is the most widely used network for sending and receiving funds worldwide. And in today’s blog post, we at Genome will explain how it works and how to make SWIFT money transfers. What is the SWIFT system? It’s an international messaging ecosystem for sharing information. This network is currently used for processing cross-border multi-currency transfers. The participants of the SWIFT system exchange messages with the required information on the amount, date, and currency of