Understanding the SWIFT payment system
SWIFT, Society for Worldwide Interbank Financial Telecommunication is one of the safest and easiest ways to transfer money in foreign currency to your business, family or friends in India. It ensures safe and secure financial transactions for all members in its network. The SWIFT network has more than 11,000 member banks across 200 countries that exchange millions of standard messages every day. This banking network supports secure and efficient money transfers across borders, benefiting individuals, businesses and financial institutions worldwide.Read More
Key features of SWIFT
Karnataka Bank now offers Aadhaar enrollment and updation services at designated branches across India for residents.
Easy and secure
Ensures the confidentiality and integrity of financial information, safeguarding against fraud and cyber threats
Widely accepted
Widely accepted banking system worldwide among banks and financial institutions
Efficient code system
The SWIFT/BIC code simplifies identification, making it easy to pinpoint specific banks, countries, cities, and branches.
SWIFT Money Transfer with KBL
Karnataka Bank has correspondent banking relationship with them
Instructions for money transfers
To facilitate quick and seamless fund transfers through our partner banks, please ensure you provide the following details to us in the format provided.
Karnataka Bank SWIFT Code
For example, if USD currency is being transferred through our Nostro correspondent bank (BNY Mellon):
“Please credit USD (Amount)_____ to the USD account number 8033166096 of Karnataka Bank Ltd,(Swift - KARBINBB) held with The Bank of New York Mellon (Swift- IRVTUS3N) for further credit to (details of your account with us) Account Number _______ of Mr./Mrs._____________ with Karnataka Bank Ltd, __________________ branch".
Simplify payments with easy reads
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Got questions? We’ve got answers.
SWIFT sends a payment order with instructions for transferring money between banks. The transfer instructions are conveyed through a standardized message system using three-digit codes and sent across the network using the receiving bank's unique SWIFT code. Once the payment order is received, the banks settle the transfer between their accounts.
Yes, SWIFT payments are considered safe and secure. The SWIFT network uses strict security measures, such as encryption, authentication, and digital signatures, to ensure that only authorized parties can access, send, and receive messages through the network.
Yes, there are fees associated with using the SWIFT payment system. These fees vary depending on the banks involved in the transaction and the specific services used. Please get in touch with us to know more.
With SWIFT, you can expect to transfer funds from anywhere to India in 72 hours at the latest, ensuring timely financial support to your loved ones or for your investments.
Yes, once you've initiated a transfer, you can easily track the transaction using our online portal or mobile app. You'll receive notifications at each step until the funds are safely credited to the intended recipient in India.
The SWIFT payment system is renowned for its robust and secure framework, making it the primary choice for international wire transfers. The core advantage of SWIFT wire transfer is its reliability; as it operates in a well-established network of banks, financial transactions are both secure and efficient. When businesses opt for a swift money transfer, they benefit from the SWIFT network's stringent security protocols and its global reach, ensuring that funds are transferred with minimal risk of delays or errors. Moreover, the adaptability of the swift transfer system allows for a wide range of currencies to be transacted, making it an essential tool for global commerce. With the capability to facilitate international wire transfer swift services, businesses can expand their operations across borders without worrying about the complexities of currency conversion and cross-border regulations. This seamless integration into the international financial landscape is what sets SWIFT payments apart as a primary conduit for global economic activity.
The process of remit money has revolutionized the way we handle cross-border transactions. The primary advantage of utilizing services like remit money transfer and remittance money transfer is the speed and convenience they offer. No longer do individuals have to wait for prolonged periods or go through cumbersome banking procedures. With options like international remittance, sending money overseas is as easy as a few clicks, ensuring that your loved ones or business partners receive the funds swiftly. Moreover, the advent of swift wire transfer has introduced a layer of security and efficiency previously unseen, making it the primary choice for businesses and individuals alike..
