All South African banks have a unique identifying SWIFT code. These codes are used when you are transferring money and messages between the banks. The purpose of this article is to help you understand what is a SWIFT code and list SWIFT codes for banks in South Africa.
What is a SWIFT code?
A SWIFT code, sometimes also called a SWIFT number, is a standard format Bank Identifier Code (BIC). SWIFT codes consist of different kinds of letters and used as a unique identification codes for the banks. A Swift code has a combination of eight to eleven characters. Usually, when eight letters codes are presented, it refers to the primary office.
A SWIFT code consists of the following components
An example of ABSA Bank Swift code is ABSAZAJJXXX.
- The first four letters are used as the bank codes (ABSA). Only letters.
- The next two letters (ZA), only letters, are used to give or describe the country code.
- The next two characters (JJ) used for location codes. It can be a combination of letters and numbers.
- The last three characters of the SWIFT code (XXX) can be a combination of letters and numbers but they are optional. These characters provide details about the branch code.
What are SWIFT codes used for?
SWIFT codes and BICs are one and the same thing and can be used interchangeably (in a way that can be exchanged). A SWIFT code is normally used for international bank wire transfers. But depending on the rates, some of these codes can make you pay a higher rate. Now let’s look at the list of SWIFT Codes for South African banks. The list also includes some international Swift codes operating in South Africa.
List of SWIFT Codes for South African Banks
|Bank Name||Universal Branch Codes||SWIFT Code|
|First National Bank (FNB)||250 655||FIRNZAJJ|
|Nedbank Limited||198 765||NEDSZAJJXXX|
|Absa Bank Limited||632 005||ABSAZAJJXXX|
|Capitec Bank Limited||470 010||CABLZAJJXXX|
|Standard Bank of South Africa||051 001||SBZAZAJJ|
|African Bank Limited||430 000||AFRCZAJJXXX|
|Investec Bank Limited||580 105||IVESZAJJXXX|
|Bidvest Bank Limited||462 005||BIDBZAJJXXX|
|Tyme Bank||678 910||CBZAZAJJ|
|FirstRand Bank – A subsidiary of First Rand Limited||250 655||FIRNZAJJRSL|
|Grindrod Bank Limited||223626||GRIDZAJJXXX|
|Merchantile Bank Limited||450 105||LISAZAJJXXX|
|Sasfin Bank Limited||683 000||SASFZAJJXXX|
|SA Post Bank (Post Office)||460 005|
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Zita Zimande is a sports news journalist from the University of Johannesburg. Besides being a sports fanatic, she loves to cook during her spare time.