Have you ever struggled to find the correct SWIFT code when sending money to Bank Tabungan Negara (BTN) in Indonesia? Do different banking services or branches require different codes? This article provides a comprehensive guide to BTN's SWIFT codes to help facilitate your international transfers.
What Is a SWIFT/BIC Code?
The SWIFT (Society for Worldwide Interbank Financial Telecommunication) code, also known as BIC (Bank Identifier Code), is a unique identification number used for international money transfers between banks. Serving as a financial institution's international "ID," it ensures funds reach the correct destination bank.
Bank BTN's Primary SWIFT Code: BTANIDJAXXX
BTN's main SWIFT/BIC code is BTANIDJAXXX , which corresponds to the bank's headquarters in Jakarta:
- Bank Name: BANK TABUNGAN NEGARA (PERSERO), PT.
- SWIFT Code: BTANIDJAXXX
- Address: MENARA BTN, FLOOR 10, JALAN GAJAH MADA 1
- City: JAKARTA
- Country: INDONESIA
When to Use BTANIDJAXXX
You can safely use BTN's primary SWIFT code in these situations:
- International transfers to Bank BTN: This is the most common use case.
- Beneficiary hasn't provided a specific branch code: When you only know the recipient banks with BTN but not their specific branch code.
- BTN processes payments centrally: The bank may handle international transfers through headquarters even for branch accounts.
- Need for a default, widely-accepted code: BTANIDJAXXX serves as a reliable general-purpose code.
Does BTN Have Other SWIFT Codes?
Like other major banks, BTN may use different SWIFT codes for specific services or branches. While BTANIDJAXXX is the primary code, always verify the exact code with the recipient or bank before initiating a transfer to ensure accuracy.
How to Find the Correct SWIFT Code
Several methods exist to locate the proper SWIFT code:
- Ask the recipient: The most direct approach is to request the specific SWIFT code from the beneficiary, who can find it on bank statements or online banking.
- Contact Bank BTN: Reach out to BTN's customer service via phone or email to inquire about branch-specific codes.
- Use SWIFT code lookup tools: Online resources may provide this information, though bank verification remains recommended as databases might not always be current.
Key Information for International Transfers to BTN
Beyond the SWIFT code, international transfers require:
- Recipient's full name: Must match exactly with their bank records.
- Account number: The complete beneficiary account number.
- Amount and currency: Specify both to prevent transfer issues.
- Transfer purpose: Common reasons include "family support" or "business payment."
- Your personal details: Sender information including name and contact details.
Common International Transfer Issues
Potential challenges include:
- Rejected transfers: Often caused by incorrect codes, incomplete recipient details, or unclear payment purposes.
- High fees: International transfers typically involve multiple charges including intermediary bank fees.
- Processing delays: Transfers usually take 1-5 business days depending on routing and compliance checks.
Final Recommendations
While BTANIDJAXXX serves as Bank BTN's primary SWIFT code, confirming the exact code with the recipient or bank before transferring funds remains crucial. Providing complete and accurate transaction details helps prevent delays or additional charges.
Additional considerations:
- SWIFT codes may change periodically; verify before each transfer.
- For large transactions, consult with banking professionals.
- Understand relevant international transfer regulations.