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by RandomThoughts3 544 days ago
SWIFT is not a payment system. It’s only a messaging system. It’s generally used to send initiating orders between financial institutions but they then have to be cleared or directly settled through something else.
1 comments

IBAN isn't a payment system either, but I'm talking about the end user experience: insert account number, insert amount, click send. Sometimes you also need the SWIFT code which specifies the receiving bank.