- The customer must notify SWIFT of its intention to terminate in advance. The minimum termination notice period is specified in the relevant contractual arrangements (typically, 3 months or, in case of termination of a service administration agreement, 12 months).
- Products and services for which the customer pays a recurring fee or charge can be terminated effective as of 1 January of the following calendar year upon notice to SWIFT by no later than 30 September of the current year. To get a pro-rated invoice for the next budget year, notice must be received by not later than 15 December.
- SWIFT does not reimburse any charges or fees already due and paid by the customer for the terminated SWIFT service or product.
- Termination does not affect any fees and charges that are due until the effective termination date. In other words, the customer must pay all fees and charges applicable to it until the expiry of the termination notice.
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