what if the bank does not go through the intermediary banks and instead communicates with the recipient bank? for example, banks A and b have bank accounts of each other. Why can't they use wire transfer from bank A to Bank B instead? are the US Banks more resilient to malicious actors? won't it be more complex and prone to backdoors when more parties are involved?

I have a quick question: Is there a need at a certain point for a bank to transfer physical money from bank to bank ? Let's say for the bank to open it's account in it's intermediate bank.

I don't mind using crypto however at a certain point you will need to convert the crypto currency into fiduciary currency can you advise on how ? With what bank ? Finally the extremely high volatility of a crypto currency is scary which makes it's usage limited for a very limited transitional period of time. Thank you for this video 👍🏻

How does sender bank transfer money to bank A?

@fredrickkamau7675

3 ай бұрын

Sender bank needs to have a commercial account in the recipient bank and vice versa. When the recipient bank receives the swift message, It will debit money from the sender's bank commercial account and credit the recipient account. If the sender and recipient's bank don't have a relationship(no bank account for each bank opened), they will have to use an intermediary bank which has a relationship with both banks.

@indianprincess98

2 ай бұрын

@@fredrickkamau7675 how do you get an intermediary bank?

is a need of 100 $ to activate account

@vegasanthony8384

5 ай бұрын

Yeah I think thant money for the credit card

How can i withdraw money from Swift pay to own account , kindly reply

@vegasanthony8384

5 ай бұрын

I can help you, if you are a receiver

@umarkhokhar9505

3 ай бұрын

​@@vegasanthony8384help me to bring swift payment in Pakistan

@AhmadDogar-tg1qu

23 күн бұрын

​@@vegasanthony8384yes

This is why the US $ is so strong.

@hasn-ae

7 ай бұрын

USA era will end soon

🎯 Key points for quick navigation: 00:00 *🌐 Overview of Swift Network* - Swift, or Society for Worldwide Interbank Financial Telecommunication, facilitates global financial transactions. - More than 45 million transactions daily; connects banks globally using standardized messaging. 01:08 *📊 How Swift Works* - Swift involves multiple entities: sender, local bank, intermediary banks, recipient's bank, and recipient. - Transactions involve encrypted messages through Swift, currency conversions, and verification steps. 04:18 *💸 Critique of Swift System* - Swift transactions are not real-time, taking 3-5 days to complete. - Expensive due to fees from multiple intermediaries; not all countries/banks have Swift connectivity. - Requires detailed input (Swift/BIC codes, IBAN) and centralized control poses security risks. Made with HARPA AI

How to access swift?

@vegasanthony8384

5 ай бұрын

I make use of swift and it more better

@vegasanthony8384

5 ай бұрын

I make use of swift and it more better

@vegasanthony8384

5 ай бұрын

We can make some transaction if you don't mind I will guide you through on swift

@BUHAYISLIFE

Ай бұрын

​@@vegasanthony8384 how to withdraw money here I have 1m on my aact

@james1098778910

26 күн бұрын

😂😂😂😂😂😂​@@vegasanthony8384

Peace? Prays Jesus: Amen. Hallelujah worships Holy Son of Father+ Serve+ Obey Holy Bible: the words : of KING of kings Faith Hope Love the LORD of lords the LAMB who was slain! Peace? Prays Jesus