CN
Swift FAQs

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.


Magpay, as the world's leading agent collection and payment company, was founded to help Chinese around the world provide global agent collection and payment solutions. Magpay has a team with rich experience in global investment services. By providing safe and compliant payment solutions, it has completely changed the traditional cross-border business development problems and provided easy and convenient payment solutions for overseas projects

Service
Global acquiring
Bank card collection and payment
Electronic wallet collection and payment
Company
About us
Law
Privacy policy
Terms of use
Support
Commonproblem
Contact us

Megapay Inc

address:1250 Ponce de León Ave., Ste 1005

San Juan, PR 00907-3914 United States

© 2022 Megapay Inc. All rights reserved.