A SWIFT code is a standard structure of bank identifier code accustomed to particularize a specific bank or branch. It is utilized while transferring money between banks, especially for international wire transfers. Here we talk about SWIFT code, its uses, and the use in banks of Nepal.
What is SWIFT Code and Why is it Used?
These codes are used to distinguish the country, bank, and branch in which an account is documented. For transferring money globally in a secure manner, financial institutions depend on a network that is governed by Society for Worldwide Interbank Financial Telecommunication i.e SWIFT. For money transfers, SWIFT allocates each engaged financial organization with a unique code, and this code is referred to as SWIFT code.
These codes consist of either 8 or 11 numbers and letters and are fundamental in the successful conduct of international money transfers due to the fact that they provide vital information while transferring money. Without swift code, the bank transfer you make might not get to its proper destination.
SWIFT Code in Nepal
Banks in Nepal have their own unique Swift code or BIC i.e Bank Identifier Code. SWIFT codes in Nepali banks are specialized and they tell the financial system how and where to send money. In Nepal, we aren’t granted a separate IBAN i.e International Bank Account Number which helps identify an individual account in the individual transaction, but our normal bank account number works well.
One can usually find their swift code or BIC code in their bank account statements. One can also view this code by logging in to their bank’s account and inspecting their statement. These specialized identifiers are digital addresses of each institution involved in money transfer and they help to effectively identify every institution in the network of SWIFT.
Due to this code, your funds get transferred quickly to your bank account and international transfers have also been made simpler and more economical in Nepal since the costs are low while exchange rates are huge. This will be profitable if you are a self-employed worker or if you have accumulated funds online. SWIFT codes are a key component that narrates the Nepali banking system to operate each transfer. These codes are supported by many banks of Nepal, some of the banks who are active participants and who are connected to the SWIFT network are: Civil bank situated in Kathmandu city, Global bank situated in Birgunj, Standard chartered bank of Kathmandu, Kumari bank situated in Kathmandu and numerous others.
List of Swift Codes of Banks in Nepal
Below is the list of SWIFT codes of Nepali banks provided by the SWIFT codes.com. These are the Nepali banks that are connected to the SWIFT network.
|ID||Bank or Institution||City||Branch||Swift Code|
|1||AGRICULTURAL DEVELOPMENT BANK LTD||KATHMANDU||Corporate Office, Ramshahpath||ADBLNPKA|
|2||BANK OF KATHMANDU LIMITED||KATHMANDU||Head Office||BOKLNPKA|
|3||CENTURY COMMERCIAL BANK LIMITED||KATHMANDU||Putalisadak||CCBNNPKA|
|4||CITIZENS BANK INTERNATIONAL LIMITED||KATHMANDU||Head Office||CTZNNPKA|
|5||CIVIL BANK LIMITED||KATHMANDU||Main Branch CTC||CIVLNPKA|
|6||EVEREST BANK LTD.||KATHMANDU||Head Office||EVBLNPKA|
|7||GLOBAL IME BANK LIMITED||KATHMANDU||Head office||GLBBNPKA|
|8||HIMALAYAN BANK LTD.||KATHMANDU||Head Office||HIMANPKA|
|9||KUMARI BANK LTD||KATHMANDU||Head Office||KMBLNPKA|
|10||LAXMI BANK LIMITED||KATHMANDU||Hattisar||LXBLNPKA|
|11||MACHHAPUCHCHHRE BANK LIMITED||KATHMANDU||Head office||MBLNNPKA|
|12||MEGA BANK NEPAL LIMITED||KATHMANDU||Kamaladi Branch||MBNLNPKA|
|13||NABIL BANK LIMITED||KATHMANDU||Head office||NARBNPKA|
|14||NEPAL BANGLADESH BANK LIMITED||KATHMANDU||Corporate Office||NPBBNPKA|
|15||NEPAL BANK LIMITED||KATHMANDU||Head Office||NEBLNPKA|
|16||NEPAL CREDIT AND COMMERCE BANK LTD.||KATHMANDU||(NEW ROAD BRANCH)||NBOCNPKANRD|
|17||NEPAL CREDIT AND COMMERCE BANK LTD.||KATHMANDU||Siddharthangar Branch||NBOCNPKA|
|18||NEPAL INVESTMENT BANK LTD.||KATHMANDU||HEAD OFFICE||NIBLNPKT|
|19||NEPAL RASTRA BANK||KATHMANDU||NRBLNPKA|
|20||NEPAL RASTRA BANK||KATHMANDU||(FOREIGN EXCHANGE DEPARTMENT)||NRBLNPKAFED|
|21||NEPAL SBI BANK LTD||KATHMANDU||(BIRGUNJ BRANCH)||NSBINPKA001|
|22||NEPAL SBI BANK LTD||KATHMANDU||Head office||NSBINPKA|
|23||NIC ASIA BANK LIMITED||KATHMANDU||Head Office, KTM||NICENPKA|
|24||NMB BANK LTD||KATHMANDU||Babarmahal||NMBBNPKA|
|25||PRABHU BANK LTD||KATHMANDU||Main||PRVUNPKA|
|26||PRIME COMMERCIAL BANK LTD||KATHMANDU||NEW ROAD||PCBLNPKA|
|27||RASTRIYA BANIJYA BANK||KATHMANDU||Main Branch office||RBBANPKA|
|28||SANIMA BANK LIMITED||KATHMANDU||Head Office||SNMANPKA|
|29||SIDDHARTHA BANK LIMITED||KATHMANDU||Head Office||SIDDNPKA|
|30||STANDARD CHARTERED BANK NEPAL LIMITED||KATHMANDU||Head office||SCBLNPKA|
|31||SUNRISE BANK LIMITED||KATHMANDU||HEAD OFFICE||SRBLNPKA|
SWIFT codes are vital during an international transaction since they ensure money going to the right destination easily and conveniently. What do you think about SWIFT codes?