Last updated on: 21/05/2024
Quick Summary
The African Bank Limited, a retail bank in South Africa, has a Universal Branch Code of 430 000 and a SWIFT code of AFRCZAJJ. These codes are essential for identifying the bank and its branches when conducting financial transactions. Understanding and using these codes correctly can ensure smooth and efficient banking processes for customers.
Universal Branch Codes
What is a Universal Branch Code?
A universal branch code, also known as a bank branch code or sort code, is a unique numerical identifier assigned to each individual bank and its branches. It helps in identifying the specific location of a particular bank branch when conducting financial transactions.
The African Bank Universal Branch Code
The African Bank Limited operates with their designated universal branch code – 430 000. This six-digit number uniquely identifies all branches under this banking institution across South Africa. Whether you need to make an EFT payment or deposit money into your account at any African Bank’s local office nationwide, using this universally recognized code will ensure smooth processing of your transaction.
It’s important to note that while some other banks may have similar-looking numbers for their respective universal branch codes; it’s crucial always to verify and use the correct one specifically associated with African Bank – which is 430 000.
Why Use the African Universal Branch Code?
By utilizing the correct universal branch code provided by African Bank, you ensure accurate routing of funds and efficient processing of your transactions.
SWIFT Codes
What is a SWIFT Code?
A SWIFT code, also known as a Bank Identifier Code (BIC), is an internationally recognized standard format for identifying banks and financial institutions. It consists of either 8 or 11 characters and provides essential information about the bank’s country, city, branch, and institution.
SWIFT codes are primarily used when transferring money internationally between different banks. They ensure that funds reach the correct recipient by providing accurate identification details for each participating bank in the transaction.
The African Bank SWIFT Code
The African Bank Limited has its own unique SWIFT code to facilitate international transactions. The official SWIFT code for African Bank is AFRCZAJJ
This particular combination of letters represents specific information about the bank:
- “AF” indicates South Africa as the country where African Bank operates.
- “RCZA” identifies it as part of African Central Banks’ Association.
- “JJ” signifies Johannesburg as its location within South Africa.
- Lastly, “XXX” denotes that additional three-character branch codes may be added if required to specify a particular branch within Johannesburg.
It’s important to note that this single universal identifier allows other financial institutions worldwide to recognize and communicate with any department or division under African Bank Limited effectively.
Conclusion
In conclusion, the African Bank Limited is a prominent retail bank in South Africa that offers a wide range of financial products and services. With its countrywide branch distribution network and full digital channel offering, the bank strives to provide convenient banking solutions for its customers.
When it comes to conducting transactions with African Bank, it’s important to be familiar with their Universal Branch Code and SWIFT code. The Universal Branch Code for African Bank is 430 000 in South Africa. This code helps identify specific branches within the bank when making local transfers or payments.
For international transactions involving African Bank, you will need to use their SWIFT code – AFRCZAJJXXX. A SWIFT code serves as an internationally recognized identifier for banks worldwide. It consists of eight or eleven characters representing various details such as country, city, bank name, and branch location.
Using these codes ensures accurate routing of funds during both domestic and international transfers while minimizing errors or delays in processing your transactions.
It’s worth noting that if you are considering sending money internationally through traditional banks but want a cheaper alternative option without compromising on speed or security, Wise (formerly TransferWise) can be considered as they offer competitive rates compared to conventional methods offered by most banks today.
Before initiating any transaction using either the Universal Branch Code or SWIFT code provided here, make sure to double-check them directly from reliable sources like official websites or contact centers to ensure accuracy before proceeding further.
Remember to always verify this information directly from reliable sources like official websites or contact centers, ensuring accuracy before proceeding further.
