SWIFT Sets 10% Rebate for 2013 Messaging Fees

SWIFT will be giving a 10% rebate on 2013 messaging fees in March 2014, which will return approximately €33 million to SWIFT users worldwide.

“Through a combination of innovative operational efficiencies and robust volume growth, SWIFT continues to pass on savings to users in the form of substantial structural price reductions. In addition, for 2013, we are announcing a 10% rebate to all customers,” says Gottfried Leibbrandt, CEO of SWIFT.

The rebate coincides with price cuts announced in September that went into effect on January 1, 2014, where FIN message prices will drop an average of 20%, saving users a total of €52 million over the year.

“This rebate, together with the structural price reductions already announced for 2014, is part of the multi-year strategy set out by SWIFT in 2010 to reduce message prices by half by 2015. We are on target to achieve this goal,” says. Francis Vanbever, CFO of SWIFT.