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What is SWIFT ACK vs NACK Explained about?

The document discusses the difference between a SWIFT ACK and SWIFT NACK. A SWIFT ACK indicates a payment message was accepted by the SWIFT network, shown as {451:0} in the message text block. A SWIFT NACK indicates a payment message was rejected, shown as {451:1} along with an error code like {405:T27} to explain the reason for rejection. The document provides an example of what each type of message looks like and explains that SWIFT publishes a list of error codes to understand rejection reasons in plain

Author

Gopal Kumhar

Language

EN