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Question

In international wire transfers, which role does a SWIFT Code play for the sender and the beneficiary?

A It serves as a password for the transaction. Correct Answer Incorrect Answer
B It ensures instant fund availability. Correct Answer Incorrect Answer
C It identifies the sender's occupation. Correct Answer Incorrect Answer
D It helps route the transfer to the correct bank and branch. Correct Answer Incorrect Answer

Solution

A SWIFT Code is used to help route the international wire transfer to the correct bank and branch, ensuring that the funds reach the intended beneficiary accurately.

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