SBI Bank's Swift code is IFSC11SBY. This unique code is essential for international transactions, and it's used to identify the bank and its branch.
Swift codes are an 11-digit code, and SBI Bank's code is a combination of letters and numbers. It's used to facilitate international money transfers and other cross-border transactions.
To find your SBI Bank Swift code, you can check your passbook or bank statement. The code is usually mentioned at the top of the page.
What is SBI Bank Code?
The SBI bank code is a crucial part of the SWIFT code, and it's actually the first 4 characters of the code. It represents the bank and is usually a shortened version of the bank's name.
The SBI bank code for State Bank of India (SBI) is SBIN, as seen in the SWIFT code SBININBBXXX.
To break it down, the SBI bank code consists of only letters, and it's a key part of identifying the bank in the SWIFT code.
Here's a list of the different parts of the SBI bank code:
- Bank code: A-Z4 letters representing the bank.
In the case of State Bank of India (SBI), the bank code is SBIN.
SBI Bank Code Details
A SWIFT code for SBI Bank is an 8-11 character code that identifies your country, city, bank, and branch. It's made up of several parts, including the bank code, country code, location code, and branch code.
The bank code is a 4-letter code that represents the bank, usually a shortened version of the bank's name. For example, SBI's code is "SBIN". The country code is a 2-letter code that represents the country the bank is in, in this case, "IN" for India.
A SWIFT code can be validated by checking its format and making sure it's correct for the specific branch and transaction type. If you're unsure, you can check your bank statement or use a tool to find the correct code.
SBI Code
The SBI code is a crucial piece of information when dealing with State Bank of India. It's an 8-11 character code that identifies your country, city, bank, and branch.
The SBI code is made up of four components: Bank code, Country code, Location code, and Branch Code. The Bank code is a 4-letter code representing the bank, usually a shortened version of the bank's name.
To find the SBI code, you can check your bank statement, log in to your bank's website, or call your bank's customer service. The head office SBI code is SBININBBXXX, but different branches may have different codes.
You can also check online websites that list SWIFT codes for various banks. Be sure to double-check the code with your recipient or directly with the bank, as different services may have different codes.
Here is a breakdown of the SBI code components:
- Bank code: 4 letters (e.g. SBIN)
- Country code: 2 letters (e.g. IN)
- Location code: 2 characters (e.g. BB)
- Branch Code: 3 digits (e.g. XXX)
Remember to validate your SBI code before making a money transfer to ensure it's correct.
Code vs IFSC Code
SWIFT code and IFSC code serve different purposes. SWIFT code is used for international transactions, while IFSC code is used for transferring funds within the country.
SWIFT code is developed by the International Organisation for Standardisation, whereas IFSC code is developed by the Reserve Bank of India. This is a key difference between the two codes.
The SWIFT code helps global banking institutions receive financial transaction-related information easily. You'll need to use this code for international transactions.
IFSC code, on the other hand, is a branch-specific code required for transferring funds within the country. It's an 11-digit unique code with the first four characters being alphabetic and representing the bank name.
Here's a comparison of the two codes:
SWIFT codes are generally 11 digits, but primary office SWIFT codes are of eight characters. The first four characters represent a bank or financial institution code, the next two represent ISO country codes, and the last two denote location codes.
The fifth character of the IFSC code is always a zero, irrespective of the bank and its branch. The last seven characters can be numbers or alpha-numeric as per the bank's preference.
Code Format and Validation
A valid SWIFT code always starts with a bank code, which identifies the bank. For example, SBIN stands for the State Bank of India.
The country code is the next part of the SWIFT code, and it represents the country where the bank is located. In the case of SBI's Bhubaneswar main branch, the country code is IN, which represents India.
The location code and branch code are the final parts of the SWIFT code, and they identify the specific branch of the bank. For instance, the location code is BB, and the branch code is 270, which represents the Bhubaneswar main branch.
What Is an Example of?
An example of a SWIFT code is SBININBB270, which belongs to SBI's Bhubaneswar main branch.
In this code, SBIN stands for the bank code, which represents the State Bank of India.
The country code IN represents India, where the bank is located.
BB represents the location code, and 270 is the branch code, specifically for the Bhubaneswar main branch.
You can find a SWIFT code for a specific branch by checking your bank statement or using tools to verify the correct code.
If you can't find the correct code, consider using the head office SWIFT code to complete your transaction.
Validate a Code
Validating a code is a crucial step to ensure it's correct and can be used for its intended purpose. You can validate a SWIFT code before a money transfer to avoid any potential issues.
A SWIFT code is a unique identifier for a bank or financial institution, and validating it helps prevent errors.
Checking your SWIFT code is as simple as looking it up online or contacting your bank directly.
Finding and Using SBI Bank Code
Finding and Using SBI Bank Code is a straightforward process. You can find the SBI Bank Swift code by calling your bank and asking for it.
The SBI Bank Swift code is an 8-11 character code that identifies your country, city, bank, and branch. It consists of four parts: Bank code, Country code, Location code, and Branch Code.
To find the Bank code, look for the shortened version of the bank's name, which is usually 4 letters long. The Country code is 2 letters long and represents the country the bank is in.
You can find the SBI Bank Swift code by logging in to your bank's website and searching for it on their portal. You can also check your recent bank statements from the online portal or paper statements.
If you are sending money to an account holder of a different bank, you can ask them for the SBI Bank Swift code of the respective bank or its branch. You can also check online if you know their bank's name.
Here's a breakdown of the SBI Bank Swift code:
- Bank code: A-Z, 4 letters
- Country code: A-Z, 2 letters
- Location code: 0-9, A-Z, 2 characters
- Branch Code: 0-9, A-Z, 3 digits
Remember to validate your SBI Bank Swift code before making a money transfer to ensure it's correct and valid.
Frequently Asked Questions
How do I find my SBI SWIFT code?
Check your bank statements, online banking, or use our finder tool to locate your SBI SWIFT code
Is the SWIFT code the same for all branches?
The SWIFT code may be the same for all branches of a bank, but it can also vary depending on the bank's policies and network usage. Typically, the code specifies the bank's head office or primary office, not individual branches.
What is the IBAN number of SBI bank?
SBI bank does not have an IBAN number, as India's banking system uses SWIFT codes and IFSC codes for international and domestic transactions. Instead, foreign clients can use the SWIFT code and account details for payments to SBI accounts.
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