BullionVault both takes deposits and makes payments back to you using the SWIFT system.
SWIFT is the standard system for international bank-to-bank payments, and has been for many years. Bank customers instruct their bank to make a SWIFT payment, and the bank makes it on their behalf, direct to the receiver's bank account, via a purpose built secure bank network which spans the globe.
BullionVault prefers SWIFT to retail payment systems for several reasons:-
SWIFT allows international transfers in all convertible major currencies. Your bank will know what to do with your completed instruction to send money by SWIFT. If you are concerned about the system your bank will be able to answer your questions about it independently of BullionVault.
SWIFT stands for the Society for Worldwide Interbank Financial Telecommunication.
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