Auckland, New Zealand (PressExposure) May 19, 2009 -- Global Reserve & Finance frequently encounters offers from wealthy international individuals and private corporations which require the âblockingâ of funds. In order to accommodate this increasing demand, the firm will sometimes utilize the SWIFT system. SWIFT stands for the âSociety for Worldwide Interbank Financial Telecommunication,â and enables the automation and standardization of financial transactions, thereby lowering costs, reducing operational risk and eliminating inefficiencies.
âA SWIFT message is essentially a text message sent between banks and is treated much like a secure form of email,â states a representative from Global Reserve & Finance. Currently, the company will only accept the SWIFT Message MT760 from top 50 Banks, which is used as a form of documentary credit by legitimate trading parties.
The MT760 is a SWIFT message which guarantees that a bank will make payment in favor of a client of another bank. When an MT760 is issued, the issuing bank puts a hold on its clientâs funds, thereby ensuring that the funds are in place to make payment to the recipient party.
âGlobal Reserve & Finance is in a very competitive marketplace, and we are consistently looking to efficiently accommodate our current and potential clientsâ needs. By using SWIFT and the MT760, customers are able to create new business opportunities and revenue streams.â
For specific information on SWIFT visit: http://www.swift.com/
About Global Reserve and Finance: Global Reserve and Finance Ltd. is headquartered and incorporated under the laws of New Zealand. In accordance, Global Reserve and Finance must comply with the Companies Act 1933, the Fair Trading Act 1986, the Financial Reporting Act 1993, as well as other consumer protection legislation. The company offers CDâs, savings accounts, commercial lending, estate planning, and access to hedge fund and trading platform services. To learn more about GRF visit their website - [http://www.globalreserve.co.nz].