What is SWIFT Code and who gives SWIFT Codes?

A bank SWIFT Code is a unique Identification Code for a particular bank. It is a standard format of Bank Identifier Codes (BIC) used by banks across the globe. SWIFT stands for Society for Worldwide Interbank Financial Telecommunication. This society(SWIFT) handles and monitors transaction between International Banks. The SWIFT network located in La Hulpe, Belgium is in charge of assigning the codes to banks across the world.

What Does A SWIFT Code Look Like?

SWIFT codes come either as an 8 or 11 digit character. When a SWIFT code of 8-digits is given, it refers to the primary office or Head office of the bank. The different parts of a Bank SWIFT code are listed below;

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

What Is The Use of Bank SWIFT Codes?

As I stated earlier in the introduction of this article, SWIFT Codes are used when transferring money between banks, particularly for International Wire Transfers. Banks also use the codes for exchanging messages between themselves.

READ ALSO:  SWIFT Codes for Ghana Banks

New Zealand Bank SWIFT Codes

In this article, we have taken time to compile all New Zealand Bank SWIFT Codes which comprises of the SWIFT codes of all New Zealand banks and financial institutions. The New Zealand Bank SWIFT Codes listed here are those actively connected to the SWIFT Network. If your bank is not on the list of New Zealand Bank SWIFT Codes, it means that your bank or financial institution is a passive member. Check out the full list of New Zealand Bank SWIFT Codes below.