SWIFT Transfers
SWIFT (Society for Worldwide Interbank Financial Telecommunication)
SWIFT system is the global central system for implementing money transfers between global banks electronically by adopting international standards and through a specific code for each bank called SWIFT code.
Through Yemen Commercial Bank, a customer can receive, send transfers to all countries worldwide, reaching beneficiary’s account within 24 working hours as a maximum in normal cases. The key features of SWIFT system is that it is a safe and guaranteed method to receive and send funds globally and also there is no maximum limit for the transfer's value, the transfers are issued in all foreign currencies in a fast manner. The transfer can be issued periodically according to fixed instructions on the customer's account.
Properties:
1. This service is provided in most currencies and in any amounts.
2. This transfer is considered one of the other benefits that provide the possibility to make transfers worldwide.
3. Swift commission and fees are charged.
4. The transfer is refundable if the non-payment was confirmed by the correspondent bank.
5. Payment in any major currency is made by debiting the customer’s account, using the exchange rate applied to the transfer currency.
Advantages:
1. Easy access to large or small cash for a small commission.
2. Payment arrangements are made in most currencies.
3. A detailed notification will be obtained stating that the transfer has been made and shows the calculated exchange rate, the commission that was calculated, and the SWIFT fee.
4. A special exchange rate for large amounts is calculated at the request of the customer.
5. Provide a great deal of safety.
6. prompt transfer of amounts