Indian Bank SWIFT Code: List, Format, Uses & How to Find SWIFT Code of Indian Bank

If you are sending money internationally to an Indian Bank account or receiving funds from abroad into your Indian Bank account in India, you will need to provide a BIC or SWIFT code along with other bank details. The SWIFT (Society for Worldwide Interbank Financial Telecommunication) code for the Indian Bank is essential for facilitating secure and efficient international money transfers between banks. It serves as a unique identifier, ensuring that funds are directed accurately to the intended Indian Bank account. 

In this article, you will learn the structure and importance of the Indian Bank SWIFT code, discover the list of codes for different Indian bank branches, and other essential details.

What is the SWIFT Code of the Indian Bank?

Indian Bank's SWIFT code is IDIBINBBXXX. The SWIFT code, often known as SWIFT-BIC, BIC code, SWIFT ID, or SWIFT code, is a standard format authorised by the International Organisation for Standardisation (ISO). Financial and non-financial institutions might use it as a special identifying code. 

These codes are used to transfer money between banks, especially international wire transfers, and to exchange other messages between banks. You might find these codes on your account statements. 

Importance of SWIFT Code for Indian Bank

The following highlights the importance of the Indian Bank SWIFT code:

• A SWIFT code ensures the speedy transfer of information between banks, even if they are in different countries.
• Unlike other networks, SWIFT offers a secure platform, using encryption and decryption to safeguard information during transmission.
• SWIFT codes are unique identifiers for financial institutions, ensuring accurate identification. Moreover, the bank’s messages are encrypted for security during transmission and decrypted upon receipt.
• It guarantees you the highest levels of integrity and confidentiality, as attested by its global reputation.

Is the SWIFT Code the Same for All Branches of the Indian Bank?

Not all branches of the Indian Bank have the same SWIFT code. The Indian Bank has different codes for different branches or transaction types. Using the wrong SWIFT code could cause delays, returns, or even send your payment to the wrong destination. Therefore, you must make sure to verify the SWIFT code to ensure your payment goes through without any issues.

Indian Bank SWIFT Code Structure and Format

An Indian Bank SWIFT code is made up of 8 to 11 characters, each serving a specific purpose. These characters provide information about the bank's name, city, country, and branch name. Here is what each part of the code means:

• Bank code: This part includes four letters representing the bank's name in a shortened form. For Indian Bank, the bank code is IDIB.
• Country code: The country code consists of two letters indicating the country where the bank is located.
• Location code: Made up of both letters and numbers, this code indicates the location of Indian Bank's head office.
• Branch code: Comprising three digits, this part of the code identifies the specific branch of the Indian Bank.

Example of Indian Bank SWIFT Code

Let us say the SWIFT code for a branch of the Indian Bank is IDIBINBBCBE. Here is what each part of the code means:

• Bank code: IDIB represents Indian Bank.
• Country code: IN indicates India.
• Location code: BB signifies a specific location.
• Branch code: CBE is the branch code (a branch in Coimbatore)

List of Indian Bank SWIFT Codes in India

The following table provides a list of the Indian Bank SWIFT codes:

Usage of Indian Bank SWIFT Codes

Indian Bank SWIFT codes are necessary for transferring money between banks, especially for international wire transfers and for exchanging messages between banks. When sending funds overseas or exchanging messages between banks, the SWIFT code of the Indian Bank is used. 

How to Find the SWIFT Code of the Indian Bank?

To find your SWIFT code for Indian Bank, check a recent bank statement. You can also use the Indian Bank SWIFT code finder to search for or confirm the SWIFT code you require. It is crucial to get the correct SWIFT code for your payment. Using the wrong SWIFT code when sending money internationally could result in your payment being returned or delayed.

For international transfers, the Indian Bank SWIFT code is vital, ensuring safe and efficient transactions. It serves as a secure identifier, ensuring that money reaches the right destination quickly. Having this code makes sending and receiving funds internationally with the Bank of Baroda easy and dependable, improving global financial connectivity.

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