Yes, bank swift codes has been the trending requirements in setting up a marketing or perhaps financial institution accounts lately. Do you know what, many people do not really know what bank swift code means not to talk of where to get it. Bank swift codes is what today's guide is all about. So in the post, you will learn how bank swift code works and how to get that of your local bank.
What Is Bank SWIFT Code
SWIFT stands for the Society for Worldwide Interbank Financial Telecommunications. It is a standard format of Bank Identifiers Code (BIC) which is unique identification code for a particular bank. The codes are messaging networks the banks used in securely transferring money and important messages between banks, especially international fund transfers.
The swift code is primarily eight (8) in number but including the branch code which is optional makes it eleven (11).
Facts About Bank Swift Code
- It is a unique identification code. So every bank has its own SWIFT code
- It facilitates international money transfers and interbanks messaging
- Swift Code is either eight (8) or eleven (11). It is basically eight but if you include the optional branch code, it will be eleven
How To Get Bank Swift Code ― Nigeria
Getting the Bank swift code for your local bank is very easy to do. Although, there are several websites that give you the listing but you as a GeeksnGuide reader should be know the principle behind the codes generation so as to do it yourself.As I said earlier "the bank swift code is either 8 or 11". Just like the format below
ABNG NG LA XXX
The Bank Swif Code's Formula
- The first four characters (ABNG) is the bank's code meaning Access Bank of Nigeria and it must be alphabet
- The second two characters (NG) is the country's code, Nigeria and it must be Alphabet
- The third two characters (LA) is the location's code, Lagos. It must be Alphabet
- The last three characters (XXX) is optional. It's the branch code (primary office) and it must be in numbers
The formula is very simple
BANK'S CODE + COUNTRY'S CODE + LOCATION'S CODE + BRANCH CODE (Optional)
Sites To Get Bank Swift Codes of Any Country
Alternative to the formula, there are several websites you can search for list of bank swift codes of any country. Below are the listing1. The Swift Codes
2. Swift-Code
3. Bank Swift Code
4. SwiftCodes.Org
5. Bank-Swift-Codes
Bank swift codes are easy to craft, the tool is in your hand. Thanks
I will appreciate it if you could share your thought in the comment section
Culled from http://www.geeksnguide.com
