Imagine an urgent overseas payment delayed indefinitely due to a minor SWIFT code error—causing not only inconvenience but also unnecessary complications. In today's globalized financial landscape, accurately identifying the National Bank of Georgia's SWIFT/BIC code is essential for ensuring secure and efficient cross-border transactions. This article provides a comprehensive guide to navigating the bank's SWIFT code system.
SWIFT/BIC Codes: The Universal Passport for Cross-Border Payments
The SWIFT (Society for Worldwide Interbank Financial Telecommunication) code, also known as the BIC (Bank Identifier Code), serves as a unique identifier for financial institutions worldwide. Functioning like a bank's "ID card," it plays a critical role in international wire transfers. The National Bank of Georgia's primary SWIFT/BIC code is BNLNGE22XXX . However, like many large banks, it may use different codes for specific branches or services. Always verify the correct code before initiating a transfer.
Key Details for the National Bank of Georgia's SWIFT Code
- Bank Name: National Bank of Georgia
- SWIFT/BIC Code: BNLNGE22XXX
- Address: Zviad Gamsakhurdia Embankment 1
- City: Tbilisi
- Country: Georgia
The code BNLNGE22XXX is typically used for:
- International transfers to the National Bank of Georgia.
- Transactions where the recipient does not specify a branch-specific SWIFT code.
- Payments processed through the bank's central operations.
- Standardized transactions requiring a widely recognized SWIFT code.
How to Use SWIFT Codes Correctly for International Transfers
Before initiating a SWIFT transfer, ensure the following to avoid delays or failed transactions:
- Verify the SWIFT Code: Confirm the exact code with the recipient's bank. Even a single character error can result in a failed transfer.
- Double-Check Account Details: Ensure the recipient's account number and name match their bank records precisely.
- Contact the Bank if Uncertain: If any information is unclear, consult your bank or the National Bank of Georgia for clarification.
Receiving International Transfers: Essential Information
To receive funds from abroad into a National Bank of Georgia account, provide the sender with:
- The correct SWIFT/BIC code ( BNLNGE22XXX or a branch-specific variant).
- Your full bank account number.
- Additional details, if required by the sender's bank (e.g., branch address).
Decoding the SWIFT/BIC Structure
A standard SWIFT code consists of 8 or 11 characters, each conveying specific information:
- Bank Code (4 letters): Identifies the financial institution (e.g., BNLN for National Bank of Georgia).
- Country Code (2 letters): Indicates the bank's location (e.g., GE for Georgia).
- Location Code (2 alphanumeric characters): Specifies the region or city (e.g., 22 for Tbilisi).
- Branch Code (3 optional characters): Identifies a specific branch (e.g., XXX for the head office).
Branch-Specific SWIFT Codes
While BNLNGE22XXX is the primary code, some National Bank of Georgia branches may use distinct identifiers. Always confirm the recipient's branch-specific code if available. If uncertain, the generic code can be used as a fallback.
Frequently Asked Questions
What happens if I enter an incorrect SWIFT code?
Errors may cause delays, returned funds, or complete transaction failure. Always verify details beforehand.
Where can I find the National Bank of Georgia's SWIFT code?
Check the bank's official website, account statements, or contact customer service.
What is the difference between SWIFT and IBAN codes?
SWIFT identifies the bank, while IBAN (International Bank Account Number) specifies an individual account. Some countries require both for international transfers.
Conclusion
Accurate SWIFT codes are indispensable for seamless international transactions. By understanding the National Bank of Georgia's SWIFT system, senders and recipients can minimize risks and ensure timely transfers. Always validate details with the bank when in doubt, safeguarding your funds against avoidable errors.