SWIFT International Payment Network

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Instead of transferring funds, the SWIFT network delivers payment orders among different banks using SWIFT codes.


It provides a network through which 10,000 financial institutions in 212 different countries send and receive information about financial transactions to each other.

It acts as a messenger among different banks. The SWIFT payment network allows individuals and businesses to accept and send international money via online or credit card payments. This can be done even if the payer has an account in a different bank than the payee. You can secure your financial messaging with the SWIFT network.

SWIFT Network User:

The majority of SWIFT network users are banks, it is also used by many other businesses like non-bank financial institutions, money brokers, security broker-dealers, clearing systems, foreign exchange and many more.

Limitations of SWIFT International Payment Network:

  • SWIFT transfers may take up to 5 working days in some instances.
  • Fees are often levied by the correspondent and recipient banks.
  • If your SWIFT transfer involves two currencies, banks can apply poor exchange rates.
  • SWIFT transfer may charge a high fee to transfer a small amount of money.
  • When you exchange your currency for another currency, banks can add their profit to the rate they offer you.

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