What is SWIFT code and how does it work in banks?

SWIFT messages form a vital mode of communication between banks worldwide. Here we discuss why banks use the SWIFT system, what is a SWIFT code and how it works.

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0:00 What is SWIFT and SWIFT Code?
0:52 The use of the SWIFT Messaging System
1:52 Structure of SWIFT Code
3:14 Example of Usage of SWIFT Code
3:42 FAQs related to Bank SWIFT Code

[ShuddhDesiBanking]

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[gellijayalakshmiharika]

Very nice explanation ma'am, you made it simple, Thank you

[kounainlakhani]

Could you please help me out, how to understand 3 party SSI and 2 party SSI ??

[winterqueen]

Straight to the point & very helpful.
Much appreciated, please keep going 👍👍

[vickypahwa]

What is the mean of optional part it's not mandatory to give full swift code anyone if branch code not know only SBININBB is correct for all account holder

[PharmacyAdda]

Mam if i don't use branch code in swift code. So will my money come?

[sujatharamachandran]

Cross border payment take week not in minutes unless if it is RTGS payment if iam not wrong pl clarify

[atulyabharat]

Swift Bank wire transfer legal hai ya illegal??
Foreign Trading platform k USD money ko "swift bank wire transfer" option k through withdrawal kr k SBI bank account me add kr skte hai Kya?? Illegal to nhi hai na??