Who we are
Ever since our inception in 1973, we’ve been helping value get where it needs to go—quickly, reliably, and securely. We’re trusted to do this every instant of every day.
We’re unique too. A globally inclusive cooperative made up of over 11,500 institutions across more than 200 countries and territories. Roughly, every three days, the world’s GDP passes over our network to keep supply chains moving and economies turning. We take that responsibility seriously and will keep innovating to ensure we’re there for those that rely on us—always.
Who we are
About Swift
Our role in the global economy is unique. And with that comes a unique structure too. Headquartered in Belgium, we’re a global cooperative owned by our members and governed by the world’s central banks, including the National Bank of Belgium, the US Federal Reserve, and the European Central Bank.
Swift in numbers
Understanding Swift
Our story
We’ve seen a lot since we began our mission in 1973. Learn about the major milestones we achieved along the way, and what’s still to come.
Frequently Asked Questions
Does Swift move money between banks?
While we facilitate the transfer of value across the globe, we don’t actually move money. At our core, we’re a secure messaging system that helps financial institutions send payment instructions. The actual transfer of funds happen through banks, fintechs, and other institutions.
Is Swift a bank?
No, we’re not a bank, but our community is made up of thousands of banks, fintechs and other financial institutions. We’re a globally neutral cooperative owned by over 11,500 members and relied on to provide a secure network for cross-border messaging.
How fast are Swift payments?
Data from our network shows that 90% of cross-border payments now reach the beneficiary bank in under an hour.
This is a significant milestone that’s already well ahead of the speed targets set by the G20 to achieve one-hour end-to-end processing for 75% of cross-border payments by 2027.
However, our data also revealed that more work is needed in the 'last mile' beneficiary leg in receiving countries to ensure funds reach end-customers’ accounts in under an hour as well. We’ll keep working with the financial community to identify and address these remaining frictions in support of the G20 objectives.
Where is Swift headquartered?
Swift is headquartered in Belgium, but we’re a globally inclusive organisation that serves institutions and individuals all over the world. Our community is made up of over 11,500 institutions across 200 countries and territories. Across 40,000 active payment routes, our network is able to move value across the four corners of the earth.
Thanks to our strong global governance, the decisions we make always reflect our shared interests and support our vision for a brighter financial future.
Is Swift just for large corporate transactions?
No. While we first set out to serve large corporates in making international transfers, we’ve since innovated to ensure our network can support payments of all sizes. Collaborative work with our community has enabled institutions to offer their customers a quick, easy and predictable service— whether an individual sending wages back home or a small business buying supplies overseas.
Do Swift payments require multiple intermediaries?
Some payments travelling over our network do require intermediaries, but today, this is far less common. In fact, 86% of all payments are conducted directly or with a single intermediary.
What currencies does Swift support?
We support all major global currencies, including USD, EUR, GBP, JPY, CNY, CHF, AUD, CAD, HKD and SGD.
Does Swift only support fiat currencies?
In recent years technology’s pace of change has rapidly increased, leading to the development of new forms of value like digital currencies and assets. While we don’t know if these forms of value will become mainstream currency in the future, our currency-agnostic perspective means that we want to ensure our network is capable of transacting them if they do.
How much money passes over the Swift network?
The network of choice for large corporates around the globe, the world's GDP passes over our network roughly every three days.
Does Swift process securities transactions too?
Yes. We process payments and securities transactions too.