What is a S.W.I.F.T. code? Was a question emailed to me by a customer. (Note: I had sent her wiring instructions for her closing and this was not something she was familiar with. Not a native to America, there was a slight language barrier as well.)
My answer to her:
The initials S.W.I.F.T. stand for The Society for Worldwide Interbank Financial Telecommunications. It is a code identifying a bank used when doing wire transfers. I contains information that identifies where the wire transfer is to "land", so to speak, or what bank it is to arrive at when it is sent from another bank. It supplies a secure address.
A S.W.I.F.T. code contains a bank code, a country code and a location code which defines the destination of the wire transfer.
A S.W.I.F.T. code contains 8 or 11 characters.
4 letters: are the Institution code or the bank code.
2 letters: are the country code.
2 letters or digits: are the location code.
3 letters or digits: are the branch code (of the bank).
We will need this information from your Father's bank in order to make sure the cash he is sending gets to our location. If you need any more information, please call me. I believe that that information is on the wiring instructions that I emailed you from the attorney at the title company you are using.
DID/DO YOU KNOW WHAT A S.W.I.F.T. CODE IS?
Karen Monsour, 954-464-4194
Coldwell Banker Residential Real Estate, Fort Lauderdale Beach, Florida
(Copyright© 2010 Karen L. Monsour, All Rights Reserved.)
This is 1/5 emails from customers for Bob Stewarts challenge from now until 2/11/11.
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