When making an international wire transfer, selecting the correct SWIFT code is crucial for both the security of your funds and the efficiency of the transaction. This article explains the SWIFT code MENOMXMT MEX for BANCO MERCANTIL DEL NORTE, S.A., INSTITUCION DE BANCA MULTIPLE, GRUPO FINANCIERO BANORTE and provides essential details to ensure smooth cross-border payments.
Understanding SWIFT Codes
A SWIFT code, also known as a Bank Identifier Code (BIC), is a standardized format used globally to identify financial institutions in international transactions. For transfers to BANCO MERCANTIL DEL NORTE , the correct SWIFT code is MENOMXMT MEX . The bank's primary address is REFORMA 295, FLOOR 1, COL. CUAUTEMOC, CIUDAD DE MEXICO, DISTRITO FEDERAL, 06500, Mexico .
Why Accuracy Matters
Providing incorrect SWIFT details may result in delayed transfers or misdirected funds. When initiating a cross-border payment, ensure the following details are accurate:
- Sender and recipient bank names
- Correct SWIFT/BIC code ( MENOMXMT MEX for Banorte)
- Bank address and recipient account information
Structure of the SWIFT Code
The code MENOMXMT MEX follows the standard SWIFT format:
- First 4 letters (MENO) : Bank code
- Next 2 letters (MX) : Country code (Mexico)
- Following 2 letters (MT) : Location or branch identifier
- Last 3 letters (MEX) : Optional branch code (often omitted or replaced with 'XXX')
Additional Considerations
Beyond verifying the SWIFT code, consider the following for seamless transactions:
- Processing times : International transfers may take 1–5 business days, depending on intermediary banks and time zones.
- Bank holidays : Confirm operational hours and holidays in both the sender’s and recipient’s countries.
- Fees : Cross-border transfers may incur charges from correspondent banks.
Conclusion
Using the correct SWIFT code MENOMXMT MEX ensures secure and efficient transfers to BANCO MERCANTIL DEL NORTE. Always double-check recipient details before initiating transactions to minimize delays or errors.