Nib International Bank Simplifies SWIFT Transfers

This article provides a detailed analysis of the SWIFT code NIBIETAAXXX for Nib International Bank S.C. in Ethiopia, explaining its structure, application scenarios, and methods for finding it. It emphasizes the importance of using the correct SWIFT code and offers key considerations for cross-border money transfers. The aim is to help readers safely and conveniently complete international remittances by providing practical guidance and highlighting potential pitfalls to avoid when sending money to or from Ethiopia.

When sending money internationally to Ethiopia's Nib International Bank, having the correct SWIFT/BIC code is crucial for ensuring your transfer arrives safely and promptly. This comprehensive guide provides all the essential information about Nib International Bank's SWIFT code to facilitate seamless cross-border transactions.

Understanding Nib International Bank's SWIFT Code

The primary SWIFT/BIC code for Nib International Bank S.C. is NIBIETAAXXX . This unique identifier serves as the bank's international "passport" for financial transactions.

Key details about the bank:

Bank Name: NIB INTERNATIONAL BANK S.C.
SWIFT Code: NIBIETAAXXX
Bank Address: Dembel Building, Floor 6, Bole Road (Africa Avenue)
City: Addis Ababa
Country: Ethiopia

When to Use NIBIETAAXXX

The NIBIETAAXXX SWIFT code should be used in the following situations:

When initiating international transfers to accounts held at Nib International Bank
When the recipient hasn't provided a specific branch code
For transactions processed through the bank's headquarters
As a default code when no alternative is specified

Decoding the SWIFT Code Structure

SWIFT codes consist of 8-11 characters, each conveying specific information. Here's the breakdown of NIBIETAAXXX:

NIBI: Bank code (identifies Nib International Bank)
ET: Country code (Ethiopia)
AA: Location code (Addis Ababa)
XXX: Branch code (typically indicates headquarters)

Verifying SWIFT Code Information

While NIBIETAAXXX is the primary code, some transactions might require different codes depending on the specific branch or service. To ensure accuracy:

Confirm the exact SWIFT code with the recipient
Contact Nib International Bank directly for verification

Why Correct SWIFT Codes Matter

Using accurate SWIFT information is essential because it:

Prevents transaction delays or rejections
Minimizes potential additional fees
Ensures funds reach the intended recipient securely

Additional Considerations for International Transfers

Beyond the SWIFT code, successful international transfers require attention to:

Exact recipient name and address matching bank records
Correct account number verification
Accurate transfer amount and currency specification
Proper description of transfer purpose
Understanding of applicable fees and exchange rates

By using the correct SWIFT code (NIBIETAAXXX) and verifying all transaction details, senders can ensure efficient and secure money transfers to Nib International Bank accounts in Ethiopia.