SWIFT Approves System-Wide Price Reductions

SWIFT announced Wednesday that its Board of Directors approved price reductions for several of the firm's services. The price reductions also mark the achievement of SWIFT's 2001 Price Challenge goal, the firm says, of reducing prices by 50% between 2002

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SWIFT announced Wednesday that its Board of Directors approved price reductions for several of the firm’s services.

The price reductions also mark the achievement of SWIFT’s 2001 Price Challenge goal, the firm says, of reducing prices by 50% between 2002 and 2006.

SWIFT will reduce prices on FIN messages from between 4% to 30%, decreasing the average message price by 8.2%.

Intra-institution traffic will see a drop in prices for high-volume from large users by between 20% and 36%.

InterAct prices for international traffic will also drop by roughly 10% reduction.

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