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That would make sense in the context of payments like SEPA, etc. where a unique code helps limit mistaken transactions - however, that doesn't mean SWIFT itself
by atdrummond 5y ago
That would make sense in the context of payments like SEPA, etc. where a unique code helps limit mistaken transactions - however, that doesn't mean SWIFT itself is actually being used beyond the identifying codes banks use on the system.
Where a SWIFT MT103 would come in is typically (but not always!) much larger transactions, such as moving $100m from a corporate account in one country to another.