When a person does a transaction in International Bank like a person is sitting in Nepal and wants to load the fund from an international company or a person on his/her Bank Account SWIFT Code is needed. Here is the list of SWIFT codes or BIC for Nepali Bank.
SWIFT Code/BIC of Nepali Bank
Most people are used to say, SWIFT Code is not available in their bank. is it necessary to create an account on another bank or Load the Fund on that same account? On this topic, we’ll discuss it.
What is Swift Code?
When a Bank deal with the international transaction, SWIFT Code is Needed which assign Bank Branch with the Unique Code.
SWIFT Code stands for “Society for Worldwide Interbank Financial Telecommunication Code”. When a national bank wants to send the fund to the international bank, a code is needed to transfer funds. Only an Encrypted Message will be sent how much funds in transferring. Once it receives the fund will be wired transferred. This is also known as BIC which stands for Bank Identifier Code. When somewhere you have Listened to the BIC Code, you have to provide a SWIFT Code approved by the International Organization for Standardization (ISO).
How Does It Work?
Suppose, A company has a Bank account on Bank of America and wants to send the fund from the USA to Individual person who lives in Nepal and have an account on Nepali Bank [Suppose: Nepal Bank Limited], That bank Swift Code is needed to transfer fund from America to Nepal. The Swift Code is NEBLNPKAXXX. It is 11 Digit Code. Generally, a bank is assigned an 11 digit code. The first 4 digit of Code is the Bank Code Next 2 Digit is Country Code, Next 2 Digit is Location Code and the last 3 Digit is Branch Code. Primary Bank used to have 8 digit Code on Swift Code Because it’s the head office. For the primary Bank, have 8 digit code.
What if my Bank Branch doesn’t have a SWIFT Code? Is possible to load the fund from an international bank to my Bank?
Most of the small banks don’t have SWIFT Code, where the transaction was not dealt with internationally. At that time, which Code has to Provide or have to change the account or create an account on the bank with Code? No not like that, no need to create an Account on that type of Branch. On which bank you have an account you can easily operate. At that time you can provide the SWIFT Code of the nearest Branch that deals the transaction internationally. You can call Custome care of the Bank where you have already created an account. Where the Nearest bank has a SWIFT Code. Then you can track the code and transact the fund.