Union Bank of India SWIFT Code: Full List of Union Bank of India SWIFT Codes

In the era of globalisation, banking, commerce, and communication extend far beyond the geographical borders of India. International money transfers, global trade and cross-border exchange of messages have become increasingly prevalent. The International Organization for Standardization (ISO) introduced a unique code known as the SWIFT code to ensure that payments or messages reach their intended recipients in this vast global network.

In this article, we will provide a comprehensive guide on the Union Bank of India SWIFT code, highlighting all the associated details that you need to know. 

What Is the SWIFT Code of the Union Bank of India? 

The SWIFT code for Union Bank of India, standardised by ISO, is in the format of UBININXXXXX. It is a unique identification code allotted to the bank that plays a crucial role in international payments and global communication. The SWIFT code, which stands for Society for Worldwide Interbank Financial Telecommunication code, represents the bank involved in cross-border transfers.

Importance of SWIFT Code of Union Bank of India 

Here are some of the ways in which the Union Bank of India's SWIFT code plays a crucial role in today's global landscape:

• With a SWIFT code, the Union Bank of India can ensure that international payments are directed correctly to the intended recipient. 
• The SWIFT code network serves as a messaging system, facilitating swift, accurate, and secure communication between the Union Bank and other banks. 
• The Union Bank SWIFT code mitigates fraud cases associated with international money transfers. 
• It comes with business intelligence solutions such as dashboards for comprehensive, real-time reporting of shared communication. 
• It provides compliance services, helping the Union Bank of India address issues related to compliance and financial crimes.

Is the SWIFT Code the Same for All Branches of the Union Bank of India? 

Generally, all banks and financial institutions in India assign unique SWIFT/BIC codes for different types of banking services and to each branch. Similarly, the Union Bank of India has different SWIFT codes for each branch. However, not every branch necessarily has a unique code. Some branches may use the code allotted to the bank's head office.

Before initiating cross-border payments, bank customers must determine the SWIFT code applicable to their Union Bank branch. In case of uncertainty, they must find out or verify the applicable code from the recipient or directly with the bank. 

Union Bank of India SWIFT Code Structure and Format

Similar to other SWIFT codes, the Union Bank of India SWIFT code adheres to a standardised format and structure established by the International Organization for Standardization (ISO). It comprises 8 to 11 characters, consisting of a combination of 4 smaller codes. 

Here is a brief overview of the Union Bank of India SWIFT code structure and format:

• Bank code: In the SWIFT code of Union Bank of India, the first 4 letters are the Bank code. It is a shortened version of the bank's name, representing the bank itself. 
• Country code: Following the bank code, there is the country code, which comprises 2 letters. This code denotes the country where Union Bank is situated.
• Location code: After the country code, you will find the location code. It could be either in letters or numbers. This code represents the location of the bank's head office.
• Branch code: The last 3 digits of the SWIFT code represent a particular branch of the Union Bank of India. 

In short, the Union Bank of India is formed by combining 4 distinct codes, each representing a country, city, bank and branch. 

Example of Union Bank of India SWIFT Code

Let us consider the Union Bank of India SWIFT code as an example to understand its structure and format better: 

List of Union Bank of India SWIFT Codes in India

Here is a list of Union Bank of India SWIFT codes applicable to its different branches spread across India:

Usage of Union Bank of India SWIFT Codes

The Union Bank of India SWIFT code serves different purposes for different entities. Bank customers use this code for international fund transfers and SEPA payments. On the other hand, export business owners rely on this code to receive payments from abroad. Moreover, banks use these codes to exchange messages securely and efficiently. 

How to Find the SWIFT Code of Union Bank of India? 

Bank customers can find the SWIFT code of the Union Bank of India from their bank account statements. Alternatively, they can visit the bank's official website or use the SWIFT code finder tool of Union Bank of India to locate the correct code for your transfer.

Regardless of the method you choose to obtain the applicable Union Bank of India SWIFT code, it is advisable to verify its accuracy by consulting a bank representative. Bank customers must ensure they have the accurate SWIFT code before initiating international payments. Using an incorrect SWIFT code while sending money abroad may lead to your payment being returned or delayed.

Related Articles:
1. SWIFT Code of SBI
2. Is SWIFT Code and IFSC Code Same
3. HDFC Bank SWIFT Code
4. ICICI Bank Swift Code
5. BOB Swift Code
6. PNB Swift Code
7. Kotak Bank Swift Code
8. Axis Bank Swift Code
9. Canara Bank SWIFT Code
10. Indian Bank Swift Code
11. IDBI Bank Swift Code
12. Federal Bank Swift Code
13. Indusind Bank Swift Code