Where can we find swift codes? - PowerPoint PPT Presentation

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Where can we find swift codes?

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Search Bank Swift Code and BIC Code. SWIFT code is a standard format of Bank Identifier Codes (BIC) and it is unique identification code for a particular bank. You can find it at Bankswiftcode.org. – PowerPoint PPT presentation

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Title: Where can we find swift codes?


1
Where can we find swift codes?
  • SWIFT is the abbreviated form of Society for
    Worldwide Inter bank Financial Telecommunication
    (SWIFT). It is another term for bank identifier
    code (BIC).
  • The code constitutes of 8- or 11-digit that
    stands for your country, city, bank and (11-digit
    only) branch. BankSwiftCode's are capable of
    routing funds to any registered bank worldwide,
    with the use of this code. For further
    information on SWIFT codes, visit
    Bankswiftcode.org.
  • A need for an 11-digit SWIFT code may arise if
    your bank has multiple branches. But in some
    cases this does not happen. They may rather
    process all funds through their headquarters or
    parent bank. Cross check with your bank to ensure
    that you are using the correct SWIFT code.

2
  • If your bank provided you with an 11-digit SWIFT
    codeYou will have to enter all 11 letters
    and/or numbers, unless the last 3 digits are XXX.
    Note that some banks provide 11-digit SWIFT code
    ending in XXX. It serves as a place holder for
    those that do not accept 8-digit SWIFT codes. It
    can hence be cut off from the BankSwiftCode.ORG
    Wire Transfer registration form. Such SWIFT
    codes return the address of the headquarters and
    not the local branch. Your bank will use your
    account number to get your funds transferred to
    you. The best way to get your bank's SWIFT code
    is to contact your bank.Request your bank for
    the SWIFT code and bank account number that is
    needed for receiving incoming wire transfers.If
    you plan on receiving only local currencies, you
    need not worry about intermediary banks.The
    SWIFT organization offers a look-up service
    too.BankSwiftCode.ORG strongly recommends you
    contact your bank directly to cross verify the
    proper routing of your funds.
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