
Equity Bank's Swift code is KREKEKEN. This is the unique identifier used for international transactions.
To send or receive money internationally, you'll need to use this code along with the recipient's account details. The code is usually required by banks and financial institutions to process cross-border transactions.
Equity Bank operates in several countries, including Kenya, Uganda, Tanzania, and South Sudan. Each of these countries has its own set of regulations and requirements for international transactions.
Here's an interesting read: What Is the Bank Iban Number
What Is a Swift Code?
A SWIFT code is a unique identifier for a bank or financial institution, also known as a BIC code.
It's used to move money around the world via international bank transfers, and you'll need it to send money to a specific bank, such as EQUITY BANK (KENYA) LIMITED.
SWIFT codes are standardized and consist of 8 or 11 characters, with all 11 digit codes referring to specific branches.
Here's a breakdown of the code format:
- 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)
You can use the first 8 symbols of a SWIFT code for a funds transfer, but it's recommended to double-check with the bank to ensure accuracy.
Most banks rely on their own or centralized reference data, so you can send SWIFT payments without specifying correspondent banks, but you can also manually choose one if you prefer.
Validate a Code
To validate a SWIFT code, it's essential to check if it's valid before initiating a money transfer.
First, you can use the first 8 symbols of the SWIFT code without the branch code for a SWIFT funds transfer.
Double-checking with the bank is recommended, as most banks rely on their own or centralized reference data (SWIFTref) for SWIFT payments.
For example, with the SWIFT code EQBLUGKA, you can send SWIFT payments to EQUITY BANK UGANDA LTD without specifying correspondent banks.
However, if you want to manually choose a correspondent bank, you can order information about EQBLUGKA correspondent banks or request it from EQUITY BANK UGANDA LTD's customer service.
Additional reading: First Bank of Nigeria Plc Swift Code
Swift Code Comparison and Alternatives
Financial institutions often have multiple SWIFT codes representing different branches, so it's essential to double-check with the recipient before sending money.
If you're sending money to Equity Bank (Kenya) Limited, be aware that there may be other SWIFT codes available, but it's crucial to verify the correct one with the recipient.
For your interest: Bofa Wire Transfer to Another Account
Equity Bank Tanzania Limited also has multiple SWIFT codes, which can differ by just a few letters or numbers, so it's vital to get it right to avoid any issues.
Always double-check with the recipient to ensure you have the correct SWIFT code, as this can save a lot of hassle and potential delays in the transfer process.
Frequently Asked Questions
How do I find SWIFT code for my bank account?
Check your bank's website, mobile app, or account statements for your SWIFT code, or visit your local branch to request it
Is bank SWIFT code same for all branches?
Bank SWIFT codes can be the same for all branches or unique to each branch, depending on the bank's policy. Typically, using the bank's head office SWIFT code is a safe option when sending money.
Featured Images: pexels.com