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SWIFT Field 71G is beneficial for providing detailed information about the charges related to a financial transaction, specifically indicating whether they are to be borne by the sender or the receiver. This clarity helps prevent misunderstandings and disputes regarding transaction costs. Additionally, it enhances transparency in international payments, facilitating smoother cross-border transactions. By clearly defining charges, Field 71G contributes to improved efficiency and trust in the payment process.

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2mo ago

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