Imagine working hard to save money for an international transfer to a loved one with a Banco Inter account in Brazil, only to have the transaction fail due to an incorrect SWIFT code. Not only would you lose transfer fees, but the delay could cause significant inconvenience. This guide explains Banco Inter's SWIFT code system to help you avoid common pitfalls in cross-border payments.
Understanding SWIFT Codes: The Global Banking Identifier
The SWIFT (Society for Worldwide Interbank Financial Telecommunication) code, also known as BIC (Bank Identifier Code), serves as a bank's international identification. For cross-border transactions, this code ensures accurate routing of funds to the recipient bank. Without it, transfers risk being lost in the global banking system.
Banco Inter's Primary SWIFT Code: ITEMBRSPXXX
According to financial data provider XE, Banco Inter's main SWIFT code is ITEMBRSPXXX. This corresponds to the bank's headquarters at Avenida Barbacena 1219, 24º andar, Belo Horizonte, Brazil. When sending money to Banco Inter accounts in Brazil where no specific branch code is provided, this primary SWIFT code typically suffices.
However, Banco Inter may use different SWIFT codes for specific transaction types or branches. For absolute certainty:
- Request the exact SWIFT code directly from the recipient
- Contact Banco Inter's customer service to verify the appropriate code
When to Use ITEMBRSPXXX
The primary SWIFT code ITEMBRSPXXX is generally appropriate when:
- Making international transfers to Banco Inter in Brazil
- No specific branch code is available from the recipient
- Transactions are processed through the bank's central operations
- Using a widely recognized standard code is preferred
Critical Details for Successful International Transfers
Beyond the SWIFT code, several factors determine transfer success:
- Verify all banking details: Double-check the SWIFT code, account number, and recipient name against official records
- Understand fee structures: International transfers typically involve multiple charges from sending, intermediary, and receiving banks
- Monitor exchange rates: Currency fluctuations significantly impact final transfer amounts
- Retain transaction records: Keep all transfer documentation for reference and dispute resolution
Correcting Transfer Errors
If incorrect information is submitted, immediately contact your bank to explore correction options. Some institutions may allow modifications, while others may require transaction cancellation and reinitiation. Prompt action increases resolution chances.
Receiving International Funds at Banco Inter
To successfully receive international transfers at Banco Inter, provide senders with:
- Verified SWIFT code (preferably confirmed with the bank)
- Complete account number in correct format
- Bank name: Banco Inter S.A.
- Account holder's name and address matching bank records
- Any additional information required by the sending bank
Banco Inter's Digital Transformation
Banco Inter has embraced digital innovation, offering mobile banking apps and digital account services that streamline international transactions. The bank continues expanding global partnerships to enhance cross-border payment services, potentially improving transfer speed and reliability in the future.