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Because SWIFT code is the only international identification for the specific bank.
Read more about in this link: http://en.wikipedia.org/wiki/Society_for_Worldwide_Interbank_Financial_Telecommunication
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Is swift code and routing number the same?
No the swift code and routing number are not the same. The swift code is used when transferring money internationally. The routing number is American based and used when transferring money in America.
What is the swift code for international wires to bank of America?
A SWIFT banking code stands for Society for Worldwide Interbank Financial Telecommunication. This code is used internationally to identify a bank for international money transfers. It is similar to the bank routing number used in the U.S. to identify a bank. For example, if you did work for an international company, they might request your bank's SWIFT code in order to correctly transfer money into your bank account.
Swift code of chase bank in Phoenix?
i want to deposit from london uk bank in my saving acount in phx . what is the swift code than my ac no .how can deposit or tt from other bank of london uk
What is CTZIUS33?
It is SWIFT code for US Based Citizens Bank. SWIFT code is used for the International Money Wiring.
What is difference between swift code and ifsc code?
SWIFT Code is for International Money transfers while IFSC code is for domestic transfers between banks..
If a swift code is incorrect what happens?
If a SWIFT code is incorrect, the money transfer should not go through. Besides providing the SWIFT code, the sender also has to give the account number in the bank where the money is going to be sent. The wrong SWIFT code should void the transaction because the bank and the account number will not be matched.
Which routing number is needed to transfer funds internationally---the routing number at the bottom of your check or the wire routing number of the bank?
a routing number isn't needed, but you'll need a "swift" code google your banks swift code
POSB Bank Swift code and routing number?
When transferring money overseas you will need certain information for POSB Bank Swift code and routing number is SWIFT CODE: DBSSSGSGBRANCH CODE: 081 BANK CODE: 7171
What is the swift code for State bank of india?
Swift code for Bank Transfer of Money from NatWest account to an account in State Bank of India
To send money to India by wire you need swift code?
YES you need the swit code to send money to India,
What is a Swift code for Bank of America in dallas TX?
A SWIFT code is used when money is being transferred between two banks. It is usually 8 to 11 characters. The SWIFT code for Bank of America in Dallas is BOFAUS3M.
What is the Swift code Bankers Bank?
What is code swit to transfer money from panama to the banker's bank
