How Foreign Transactions Work? (SWIFT Network Explained)

SWIFT (Society for Worldwide Interbank Financial Telecommunication) is a global messaging network that facilitates secure communication between banks and financial institutions for the transfer of funds and financial information. The network works by transmitting standardized messages between banks using unique codes, ensuring accuracy, and minimizing errors in transactions in this video I have explained how it works.

Every LIKE, SHARE, COMMENT & SUBSCRIPTION is always appreciated.

Discount Brokers I Use for My Investments:

----------------------------------------------------

RECOMMENDED READING LIST:
Rich Dad Poor Dad (Personal finance book of all time)
The Millionaire Next Door (Great Read to know how money works)
One Up On Wall Street (Peter Lynch's Best Advice to Stock Market Beginners)
Think and Grow Rich (the ultimate book on money mindset and wealth)
The Little Book of Common Sense Investing (Awesome book on index funds)

__________

__________

DISCLAIMERS & DISCLOSURES

This content is for education and entertainment purposes only. I do not provide tax or investment advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors. Past performance is not indicative of future results. All investing involves risk, including the possible loss of principal.

__________

SAY HI ON SOCIAL:

__________

#shorts #youtubeshorts

__________

[PratikChn]

SWIFT (Society for Worldwide Interbank Financial Telecommunication) is a global messaging network that facilitates secure communication between banks and financial institutions for the transfer of funds and financial information. The network works by transmitting standardized messages between banks using unique codes, ensuring accuracy, and minimizing errors in transactions in this video I have explained how it works.

[PankajSharma-plnq]

You should also explain the nostro and vostro accounts. Correspondent bank and Intermediary banks as well.

[ask_problem]

Thank you so much sir for giving this useful, important and economical knowledge videos…
Thanks 🎉

[neelamtejwani]

Why can't there be a system of direct transfer from Indian Bank to UK bank take place? Agreed that, currently the US dollar is dominant currency but this procedure can be more rapid if there is a direct transfer, isn't it?

[Soumyadipofficial]

You should mention which currency you are using in this transaction. Bcz if your friend stays in Uk and you are sending GBP then there is no need for any bank to stay in Us. But if you are sending Usd to UK then only there needs to be some bank to stay in US

[XXJRAXX]

It’s not necessary to have US bank accounts of US dollar is not exchanged between the parties.

[usmanthakur]

Can you please tell how much amount will be taxable send money to outside

[vinraghav]

international wire transfers are expensive and cost big fees. Use ACT instead

[JAIDEEP_JD]

Muze to pta nhi trading kha par karte hai website par ja fir koi app par 😅

[gauravbhati]

Hello bhai maine 1yeae phle ind money se kuch Bitcoin buy kiye the Aaj meri net worth 1.80cr dikha rha h bt mai crypto sell nhi kr paa rha hoon please help me🙏

[satatitripathy]

Check kar rahi thi thik bol rahe ho ya nehi. Paseed😊😂

[ahmedsabir]

Support India 🇮🇳 Rupay Card ATM please ek video banaen

[jayesh]

bhai swift ke baare me kuch nahi bola dosto