Swift FAQs

1. what if the swift code cannot be automatically recognized by the system during remittance?

In this case, you can enter it manually. Please remember that each character must be accurate.

2. what is the most important information in remittance?

Collection account number, swift code of the receiving bank, and name of the payee. Once these information is wrongly written, the funds will not be recorded normally, and even there will be a service charge for wire transfer.

3. isn't the swift code 8 digits? Then why is it sometimes required to add "XXX" after it?

There are 11 digits for different branches. Sometimes it is required to fill them in completely. At this time, it is enough to add "XXX" after the 8 digits.

4. when the bank address automatically generated by swift code is inconsistent with the address provided by the other party, which one should be used?

In this case, the code automatically generated by the banking system can be used.

5. what if the swift code is filled in incorrectly and the name of the receiving bank is also filled in incorrectly during remittance? Can I apply for a refund?

It is OK to apply for a refund, and the correct reason should be explained. However, when the funds are returned, corresponding handling charges will be incurred and the time may be extended due to the processing work of the intermediary bank.