Access bank swift code and how to use

0 Shares

Access bank plc is a Nigerian commercial bank, established in 1989. It has it’s headquarter located in Lagos Nigeria and it has a lot of other branches all over the country, other African countries and in London, United Kingdom. Access Bank became the largest bank in Africa after its merger with Diamond bank on April 1, 2019.

Access bank swift code and how to use

Apart from Diamond Bank, Access Bank has acquired a lot of other banks over the years. The bank got its Central Bank license in 1989 and got registered as part of the Nigerian Stock Exchange in 1998. It started out as a corporate bank and in 2012 it became a personal and business bank.

Access Bank recently unveiled a new logo, a signal of its new merger with Diamond Bank Plc and the unveiling of a new era.

Access bank swift code and how to use

What is swift code?

Swift code is a banking system that is internationally accepted as a means of identifying individual banks. It is also called BANK IDENTIFIER CODE (BIC). It is used to send money between banks, especially to overseas banks by commercial banks. It is usually made of 8 – 11 characters consisting of letters and numbers. It is also used to exchange other messages between banks.

When you have an 8-digit-code given, it is referring to the primary office. The codes are divided into the following categories:

First 4: characters – bank code (only letters)

Next 2:  characters – ISO 3166-1 alpha-2 country code (only letters)

Next 2: characters – location code (letters and digits) (passive participant will have “1” in the second character)

Last 3: characters – branch code, optional (‘XXX’ for primary office) (letters and digits)

Swift code registrations are handled by Society for Worldwide Interbank Financial Telecommunication (“SWIFT”) and its headquarters is located in La Hulpe, Belgium.

There are over 7,500 active swift codes in the world and 10,000 passive swift code. The passive codes are used for manual transactions while the active codes are connected to the SWIFT network.

Access Bank Swift Code

Access Bank Plc swift code can be used to transfer money to overseas banks. The Access Bank Plc Nigeria (NG) Swift codes are provided by International Organization for Standardization (ISO). Access Bank Plc branches which take part in overseas fund transfers are identified by a swift code. Swift code has a unique code for every Access Bank Plc branch. The general transfer code for Access Bank is the Lagos branch ABNGNGLA. If you need to get the swift code for your bank branch you can get it from the bank or you could just google search it.

Access Bank SWIFT Codes are also used when you want to transfer money to other commercial banks, particularly for international wire transfers, and also for the exchange of other messages with other banks. You can sometimes find the code on account statements. As an ACCESS BANK customer, you cannot do overseas funds transfer without the SWIFT Code of Access Bank Plc. In a nutshell swift code is the lifeblood of international money transfer.




0 Shares

3 Comments

Leave a Reply

error: Content is Read-Only!!