Swift BIC Code Axis Bank: A Comprehensive Guide

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Axis Bank's Swift BIC code is a crucial piece of information for international transactions. It's a unique code that identifies the bank and its location.

Axis Bank's Swift BIC code is UBININBB100. This code is used for international wire transfers and other cross-border transactions.

To use the Swift BIC code, you'll need to provide the bank's name, the code itself, and the beneficiary's account details.

What is a Swift BIC Code?

A SWIFT BIC code is a unique identifier for a bank or financial institution. It's used to move money around the world via international bank transfers.

SWIFT codes are also known as BIC codes, which stands for "Business Identifier Code". This code is used to specify a particular bank or branch.

SWIFT codes comprise of 8 or 11 characters. All 11 digit codes refer to specific branches, while 8 digit codes (or those ending in 'XXX') refer to the head or primary office.

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Credit: youtube.com, How to find the SWIFT code for Axis Bank

The format of a SWIFT code is as follows: AAAABBCCDDD. This breaks down into:

  • First 4 characters - bank code (only letters)
  • Next 2 characters - ISO 3166-1 alpha-2 country code (only letters)
  • Next 2 characters - location code, passive participant will have "1" in the second character (letters and digits)
  • Last 3 characters - branch code, optional - 'XXX' for primary office (letters and digits)

Understanding Swift BIC Code Structure

A Swift BIC code is an alphanumeric code that usually consists of 8 to 11 characters, identifying banks and financial institutions globally.

These codes are used for international money transfers or SEPA payments, and banks use them to exchange messages between each other.

The format of an Axis Bank Swift code looks like this: AXIS - NBB - XXX, where each character represents certain identifying factors.

A Swift code is a standard format for Business Identifier Codes (BIC), used to identify who and where a bank is.

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Importance of

The full form of SWIFT code is Society for Worldwide Interbank Financial Telecommunication, a unique systematic code that identifies financial institutions during global fund transfers.

Swift codes are essential for international transfers of funds, helping to verify the identity of banks and ensuring a safe and secure financial transaction.

Credit: youtube.com, How to Find Swift Code of Axis Bank India

Axis Bank branches use unique SWIFT codes, which are also known as BIC or Bank Identifier Codes.

These codes are used by over 5100 branches of Axis banks in India and have a global presence in around 9 countries worldwide.

The system can process the SWIFT code and successfully detect the designated bank where the transfer is meant to be made.

You'll be asked for a BIC code or SWIFT code whenever you plan a transfer of funds internationally.

Verification and Validation

Always confirm the details with your recipient before sending or receiving money. This includes checking the SWIFT code with your recipient or bank to ensure you're using the correct one.

You should validate a SWIFT code before a money transfer to avoid any issues. This can help prevent costly mistakes.

If you think you've used the wrong SWIFT code to send money, contact your bank right away to see if they can cancel the transaction.

Verify recipient details

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Verify recipient details is a crucial step in the verification and validation process. Double-checking the recipient's information can save you from costly mistakes.

Always confirm the details with your recipient, especially when sending or receiving money. This includes verifying the SWIFT code with your bank or the recipient.

If you think you've used the wrong SWIFT code, contact your bank immediately to see if they can cancel the transaction. They may be able to prevent any further issues.

Validate

Validate your SWIFT code before a money transfer to avoid any potential issues.

You should check your SWIFT code with your recipient or bank to confirm it's correct. This is crucial to ensure the transaction goes smoothly.

Validate a SWIFT code to verify its accuracy. This can be done before initiating a money transfer.

If you suspect you've used the wrong SWIFT code, contact your bank immediately. They may be able to cancel the transaction.

Check your SWIFT code is valid before a money transfer. This simple step can save you a lot of hassle in the long run.

Examples and Lists

Credit: youtube.com, How to find the SWIFT code for Axis Bank

Here's an example of an Axis Bank Swift code: AXISNBB741, which is the Swift code of the Axis Bank branch located at Solaris, Saki Vihar Road.

You can find the list of Axis Bank Swift codes in India in the table below. Each branch has a unique Swift code.

You can also find the list of SWIFT codes for main India banks, which includes Axis Bank, State Bank of India (SBI), HDFC Bank, Canara Bank, ICICI Bank, Bank Of Baroda, Bank of India, DBS Bank India, HSBC Bank India, IDBI Bank, Indian Bank, Indusind Bank, Kotak Mahindra Bank, Punjab National Bank (PNB), UCO Bank, and Union Bank of India.

Frequently Asked Questions

Is SWIFT BIC code same for all branches?

A SWIFT BIC code may be the same for all branches or unique to each branch, depending on the bank's policy. Check the bank's head office code as a safe alternative if unsure.

Tasha Schumm

Junior Writer

Tasha Schumm is a skilled writer with a passion for simplifying complex topics. With a focus on corporate taxation, business taxes, and related subjects, Tasha has established herself as a knowledgeable and engaging voice in the industry. Her articles cover a range of topics, from in-depth explanations of corporate taxation in the United States to informative lists and definitions of key business terms.

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