When preparing to send money from abroad to JSC Credo Bank in Georgia, encountering inaccurate SWIFT code information can lead to delayed or returned transfers, creating unnecessary complications. Understanding how to obtain Credo Bank's correct SWIFT code is essential for ensuring smooth cross-border transactions.
Understanding SWIFT/BIC Codes
The SWIFT (Society for Worldwide Interbank Financial Telecommunication) code, also known as BIC (Bank Identifier Code), serves as an international standard for identifying financial institutions globally. This 8-11 character code functions as a bank's "international passport," crucial for accurately routing funds during cross-border payments.
JSC Credo Bank's Primary SWIFT Code
JSC Credo Bank's principal SWIFT/BIC code is JSCRGE22XXX . This identifier represents the bank's headquarters or main office and is typically suitable for general international transfer purposes.
Code Structure Breakdown
- JSCR : Bank code representing JSC Credo Bank
- GE : Country code indicating Georgia
- 22 : Location code specifying the bank's headquarters
- XXX : Branch code denoting the main office or unspecified branch
When to Use This Code
The JSCRGE22XXX code is appropriate when:
- Sending international transfers to Credo Bank accounts in Georgia
- The recipient hasn't provided a specific branch SWIFT code
- Using a widely recognized default code is preferred
Branch-Specific Considerations
While JSCRGE22XXX serves as the primary identifier, certain branches or specialized services might use different codes. Verifying the exact SWIFT code with the recipient or directly with Credo Bank before initiating transfers helps prevent transaction failures due to incorrect codes.
Verification Methods
Several reliable methods exist to confirm Credo Bank's SWIFT code:
- Contacting Credo Bank's customer service through official channels
- Consulting reputable online SWIFT code verification tools
- Reviewing bank statements or official correspondence from Credo Bank
Additional Transfer Considerations
Beyond the SWIFT code, successful international transfers require attention to:
- Precise recipient name and account number matching bank records
- Appropriate currency selection with awareness of exchange rates
- Clear transaction purpose descriptions
- Understanding applicable fees from sending and receiving banks
- Allowing sufficient processing time for international clearance
Accurate SWIFT code information remains fundamental for efficient international banking transactions. For JSC Credo Bank, while JSCRGE22XXX serves as the primary code, confirmation with the receiving party ensures trouble-free transfers.