Popular Terms
Society for Worldwide Interbank Financial Telecommunications. Global communication network that facilitates 24-hour secure international exchange of payment instructions between banks, central banks, multinational corporations, and major securities firms. A member owned cooperative organized in 1977 under Belgium law, it now includes over 6,500 participating members from more than 180 countries which together process in excess of a billion messages every year (about 300 million messages every day). See also CHIPS.

Use 'SWIFT' in a Sentence

Banks will have a SWIFT number that makes it easier to complete a transfer from one country to another.
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Donald tried to wire money to his supplier's Bank of America account, but he couldn't complete the form because he forgot the bank's SWIFT code.
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