SWIFT (Society for Worldwide Interbank Financial Telecommunications) is a global transfer method that enables anyone, anywhere in the world to transfer funds from one bank account to another in a matter of days.
Basically, SWIFT is a channel where messages enclose payment instructions from the issuing bank, i.e. the bank of the payor, all the way to the remitting bank, i.e. the bank of the beneficiary.
The network works similarly to traveling from point A to point B. It’s not always possible to take a direct path. This means you may need to travel from one destination to another via several connecting locations. SWIFT works essentially the same way. Your money will travel from one country to another, but to do that, often intermediary/correspondent banks are involved.
SWIFT enables Simplex Banking accounts to accept transactions from all over the world. However, some locations are still not supported. The full list of locations that SWIFT does not support is available here.