In banking, what is a “gray screen transaction”?

Asked Jan 3, 2015· 1 answer
Faisal KhanAnswered Jan 3, 2015
It is not mandatory that large transactions have to go through SWIFT. If the two banks have a direct (trusted) relationship or one even through a correspondent bank (that is trusted), they can settle with each other directly.

Whilst SWIFT is used a lot, there are method of transacting with each other directly. Unbeknownst to many, SWIFT doesn't actually move funds. Just instructions that all member banks adhere to.
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