Understanding SWIFTBIC Codes for Secure Global Transfers

Published: 08/27/2025
International Remittance SWIFT Code Bank Security
This article discusses the structure and functions of SWIFT/BIC codes, with a focus on the specific codes of SPAREBANK 1 SOR-NORGE ASA. It further elaborates on how to ensure the security and efficiency of international remittances. The advantages of using Xe for remittances are also highlighted, including favorable exchange rates, transparent fees, and fast transfer times.
Understanding SWIFTBIC Codes for Secure Global Transfers

In today's globalized economy, international money transfers have become commonplace. However, many people remain unaware of a crucial element in the process: the SWIFT/BIC code. These unique identifiers not only ensure the security of fund transfers but also guarantee their prompt and accurate delivery to the intended destination.

Understanding SWIFT/BIC Codes

SWIFT/BIC codes are alphanumeric combinations of 8 to 11 characters that uniquely identify financial institutions worldwide. Each segment of the code contains specific information:

  • Bank code (SPRO): The first four characters represent the bank's name (SPAREBANK 1 SOR-NORGE ASA in this case).
  • Country code (NO): The next two characters indicate the bank's country (Norway).
  • Location code (22): These two characters specify the bank's geographical location.
  • Branch code (JPL): The final three characters identify a specific branch.

When the last three characters appear as "XXX," this indicates the bank's headquarters.

SPAREBANK 1 SOR-NORGE ASA SWIFT/BIC Code Details

Full name: SPAREBANK 1 SOR-NORGE ASA

SWIFT code: SPRONO22JPL

Short SWIFT code: SPRONO22 (for quick reference)

Branch name: SPAREBANK 1 SOR-NORGE ASA

City: Jørpeland

Key Considerations for Successful International Transfers

Using the correct SWIFT code is essential for international money transfers. These critical factors can help prevent delays and complications:

  1. Verify bank information: Double-check that the recipient's bank name matches the SWIFT code.
  2. Confirm branch details: When using a branch-specific SWIFT code, ensure it corresponds to the recipient's branch.
  3. Check country information: The SWIFT code's country designation must match the recipient bank's actual location.

Optimizing International Money Transfers

Modern financial services offer several advantages for international transfers compared to traditional banking methods:

  • Competitive exchange rates: Often more favorable than standard bank rates, potentially saving significant amounts on transfers.
  • Transparent fee structures: Clear disclosure of all charges before transaction confirmation helps users understand total costs.
  • Expedited processing: Many transfers can be completed within the same business day, ensuring faster access to funds.

Understanding and correctly utilizing SWIFT/BIC codes represents the foundation of secure international money transfers. With this knowledge, individuals and businesses can conduct cross-border transactions with greater confidence and efficiency.

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