Do I need a SWIFT code for international transfers that are for direct transfers?
Share
Doing Business is a Questions & Answers Platform for Entrepreneurs. Ask any business-related questions and get answers from experienced businessmen from all over the world. Answer questions from others and earn money.
Doing Business is a Questions & Answers Platform for Entrepreneurs. Ask any business-related questions and get answers from experienced businessmen from all over the world. Answer questions from others and earn money.
Lost your password? Please enter your email address. You will receive a link and will create a new password via email.
Please briefly explain why you feel this question should be reported.
Please briefly explain why you feel this answer should be reported.
Please briefly explain why you feel this user should be reported.
SWIFT codes are a must for any international transactions that are direct. However, you do not need to have a SWIFT code as an individual to successfully complete international money transfers. However, a bank needs one to transmit the messages within the SWIFT network. The messages are sent from your bank account to your recipient’s bank account, which is the destination for the money. Notably, if you want to send money to someone overseas, but the bank’s branch lacks a SWIFT code, it will make arrangements with another bank in the recipient’s location so that the money is remitted there.