How to Send a SWIFT Wire From Scratch
SWIFT is the most widely used international payment method in the world. In this tutorial we will be going over how to send a SWIFT wire programatically to your bank, what information you might need about your recipient to allow the payment to clear successfully, and the software you might need to do so. The following example can be implemented in code using iso20022.js.
In order for a SWIFT payment to be sent, we need to collect the right information about our bank account, the party we're sending money to, and finally create an ISO20022 file and send it to our bank.
A company sending SWIFT payments directly must send them through a bank that they operate a Direct Debit Account, or checking account with. In order to communicate with your bank programatically, you will need to configure the bank to allow for direct transmission. This is a process that your bank will need to complete with you.
Direct transmission is the process of sending and receiving payment instructions with your bank. The most common method and reliable interface for direct transmission is through SFTP. This means that the bank will need to provide you with a SFTP server and credentials to connect to it. Think of it as a shared folder where you will deposit instructions into.
