What is the Full Form of SWIFT?

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SWIFT Full Form is Society for Worldwide  Interbank  Financial Telecommunication.It is a Cooperative Telecommunication society that provides a network to financial institutions worldwide. It is Headquartered in  Belgium.
Its operations are mostly related to transmission of messages, standardization of codes and schemes for messages, allocation and use of connecting software among financial institutions like brokers or dealers, bank and investment managers.
The SWIFT code consists of 8 or 11 characters. When 8-digits code is given, it refers to the primary office. First 4 characters of the code denotes the bank code, Next 2 characters = ISO 3166-1 alpha-2 country code, Next 2 characters = location code, Last 3 characters = branch code, which is optional.
SWIFT uses advanced and modern IP network facilities.   

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