Welcome to BLACK BULL
Society for Worldwide
Interbank Financial Telecommunications

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What is a SWIFT Payment?

SWIFT payments are international electronic transactions facilitated by an
intermediary bank. Unlike transferring funds, the SWIFT network acts as a conduit
for sending payment orders between banks using SWIFT codes.

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SWIFT, an acronym for the Society for Worldwide Interbank Financial
Telecommunication, is a cooperative organisation that provides a standardised
platform for financial institutions to send and receive information securely,
primarily for money transfers. Established in 1973, SWIFT is the most common and
widely adopted wire transfer method globally.

Essentially, SWIFT acts as a messaging network, enabling banks, credit unions, and
other financial entities to communicate and exchange vital information about
financial transactions.

Inside a SWIFT Money Transfer

Financial institutions use SWIFT to transmit information and instructions securely
through a standardised code system. Although SWIFT is crucial to global financial
infrastructure, it’s not a financial institution. SWIFT does not hold or transfer
assets but facilitates secure, efficient communication between member institutions.