Banks rely on certain systems to send and receive money worldwide. Though many such protocols exist, two of them stand out. These are I.B.A.N and S.W.I.F.T. Let’s dive in and see how these two methods work, and the best uses for each of them.
One of the easiest ways to send money electronically is by using Wire Transfers. Although wire transfers are typically foolproof and well-protected payment methods, things can sometimes go wrong. But, can you get your money back after a wire transfer is initiated?