what is swift copy

11 months ago 36
Nature

The term "SWIFT copy" refers to a document provided by banks as proof of an international money transfer. It confirms the details of the transaction, including the SWIFT code, amount, and beneficiary information. It can also be known as a "SWIFT confirmation" or "SWIFT advice copy"

. Additionally, a SWIFT MT103 document is a detailed document generated when completing an international transfer, acting as a confirmation of the payment made

. The SWIFT network provides standardized proof of payment documents, such as the MT103, which show all the necessary information about the transaction, including the sender, processing institutions, amount, and fees