What is the meaning of swift transfer of money and iban?
Answer:
swift trf of money is done through an intermediate bank for the funds to transfer asap. As all the banks might not have their branches in all the countries, this is required. For this each participation bank will be assigned a swift code that has to be mentioned while transfering the money. Eg. Canara Bank doesn't have a branch in south africa. If you have to transfer money from your canara bank account in India to some bank account in South Africa that has tie up with some intermediate bank, you have to do this through swift transfer.
Do not fall into the trap of African scam in the internet!
Its also known an wire transfer. If u want to transfer money in one country from another you can do it by this way. But in this transfer you cant transfered money as Cash it will be only deposited in account which you have specified to the bank who is sending money. Its safer and coolest way to transfer money. And also fast.
The answers post by the user, for information only, BAnswer.com does not guarantee the right.
Other Questions and Answers: