MarkZ

  In MarkZ

I am hearing a lot of chatter…but cannot prove if Swift is dead yet or not…I have been chasing bankers trying to prove or disprove info about the swift system…almost all of them –conclusively say that yes- they are upgrading their system for “near instant” transfers. They see the changes coming. Part of them have updated now- part of them haven’t but I do not believe swift is totally dead yet. No banker will tell me that “yes it’s dead” only that it is ending in Sept, and everyone will be on new system for interbank transfers and country to country transfers now…  …they are in the middle of a transition…and that a number of their transactions now are “near instant”.