What is SWIFT and How SWIFT Payment Works?

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Veem helps small business customers send payments online and receive payments online from outsourcing companies, safely and securely. Join Today!

As a small business, you rely on your bank to manage deposits, bills, loans…and so much more.

And, if you’re like most small businesses, you also rely on your bank to process wire transfers to pay workers, suppliers or manufacturers overseas.

But, in this case, it’s a reliance that’s hurting both your business relationships and bottom line.

That’s because banks normally use SWIFT to process these transactions.

Created in the early 1970s and showing its age, SWIFT enables wire transfers via a global network of intermediary banks.

Using SWIFT is costly and, despite its name, the process is anything but speedy.

First, you’re required to manually input the receiver’s banking details.

Then, you select their currency, which triggers a foreign exchange fee that’s typically 4-6% above the actual rate.

Once the transfer is initiated, your funds get routed through multiple intermediary banks, costing you more time and money…while putting transfers at risk of being lost or delayed.

At the end of it all, they’ve been forced to wait, you’ve been hit with serious fees and it’s rinse, wash, repeat the next time you go to pay them.

With Veem, your business now has an alternative to SWIFT.

One that complements your existing banking relationships while making your global payments simple, transparent, secure, and affordable.

With the Veem network, there are no hidden fees and no intermediary banks.

Veem’s one-time set up is quick and funds are deposited directly into your business partner’s account within a day or two - all with real-time tracking and the best exchange rates.

And then, every next payment is just a click away.

So save time, save money and strengthen business relationships…with Veem.

#veem #SWIFT #whatisSWIFT

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Uh I came here to learn about SWIFT, not get something else advertised

nikimaslarski
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Trying to attract customers by making an ad and trying to pass it off as informational video. Way to earn their trust!
😂😂

bhavin_ch
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What a turd. I got baited. I was out for a refresher course on SWIFT. The hell is VEEM? I guess its a payment system better than SWIFT because it....? Summarized all about SWIFT in a YouTube click bait video? Of ALL payment systems ive researched pretty heavily, after considering everything, down to the politics of them all individually, BTC and XRP make by far the most sense in the end. Thanks VEEM!

durtyd
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FYI - the phrase is "wash, rinse repeat"

zebman
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This is why I believe so much in the Technology behind XRP/Ripple

MarlonMcLeod
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Most underhanded video on the Internet... People think it is informational but it's an ad. Talk about being sly.

harbhai
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so, if veem dosent use swift to make international transactions... what do they use?? seems blurry

fosfato
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Vern has no future 🤷‍♂️ XRP is the standard ripple is gonna replace swift

ag
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Ok so can you use PayPal to transfer money to a bank account.

jininggordon
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Yes, us old people know, that back in 2019 money got lost thrugh SWIFT. :D

sebanab
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Oldest system and slowest system for the 21 century

Balaji-spain
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Clickbait! Title should be something like "Alternative to SWIFT Banking system"

faizankhanseo
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I don't think using clickbait video title is a good way to earn customer trust...

matrixmodulator
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what the F was that the title is misleading

kengichuhi
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Sounds like copy of "Bhim UPI". Well UPI payment system is the best payment system in the world.

riteshgoswami
welcome to shbcf.ru