What is SWOS Full Form in Banking?

The full form of SWOS in Banking is Single Window Operating System. Many banks in India implemented the SWOS. This is a system where all the services to the customer are provided under the same window. Earlier, the customer had to deal with multiple queues and multiple people to get the work done. Today, all the solutions are offered through a single contact interface. The people working on these desks are called Single Window Operators, and the system is called Single Window Operating System. The customer can deposit cheques, withdraw cash, deposit cash, issue draft and get other services at the single desk.

What Else Should We Know About SWOS?

Apart from Single Window Operating System, the SWOS has another meaning in the SBI. You may see SWOS Debit in your statement if you have an SBI Account. These are the transactions where the customer makes the payment through ATM, Online Banking or POS, and the payment fails due to a technical reason. In such cases, the amount may not immediately get deducted from the customer’s account, but the money may get deducted the next day. This transaction will appear as Swos Debit. In addition, if the transaction still remains to be failed, then the money is credited back to the customer account.