The SWIFT code (Society for Worldwide Interbank Financial Telecommunication) is essential for conducting international transactions between banks. It ensures that funds are transferred securely and efficiently across countries. Every bank that participates in the SWIFT network is assigned a unique code, helping financial institutions and businesses across the world carry out cross-border transactions.
This blog provides a detailed overview of Axis Bank’s SWIFT codes, their significance, and the SWIFT codes of major Axis Bank branches across India.
1. What is a SWIFT Code?
A SWIFT code, also referred to as a BIC (Bank Identifier Code), is an international standard for identifying a particular bank and its branches during a financial transaction. It helps ensure that money is routed to the correct bank in global transactions. The SWIFT code typically consists of 8 or 11 characters, each serving a unique purpose.
Here’s a breakdown of the SWIFT code structure:
- First 4 characters: Bank Code (identifies the bank)
- Next 2 characters: Country Code (identifies the country)
- Next 2 characters: Location Code (identifies the location of the bank’s headquarters)
- Last 3 characters (optional): Branch Code (identifies the specific branch)
For instance, the SWIFT code for Axis Bank’s head office in Mumbai is AXISINBBXXX, where:
- AXIS represents Axis Bank,
- IN stands for India,
- BB is the location code (for Mumbai), and
- XXX denotes the main branch or head office.
2. About Axis Bank
Founded in 1993, Axis Bank is one of India’s largest private-sector banks. It offers a comprehensive range of financial services, including retail banking, corporate banking, and international banking. With its headquarters in Mumbai, Axis Bank has a wide presence in India and abroad, making it a popular choice for both domestic and international transactions.
Axis Bank has built a robust global network that enables secure and efficient cross-border transactions. Its SWIFT codes play a crucial role in facilitating international wire transfers, foreign currency exchanges, and other financial transactions across borders.
3. Why is a SWIFT Code Important?
The SWIFT code of a bank is critical for the following types of transactions:
- International Wire Transfers: When transferring money from one country to another, the SWIFT code ensures that the funds reach the correct bank and branch.
- Foreign Currency Transactions: For currency exchanges and transactions involving multiple currencies, SWIFT codes are used to facilitate accurate and secure payments.
- Global Payments: SWIFT codes ensure seamless communication between banks during global payments, including trade financing, business transactions, and remittances.
Without the correct SWIFT code, international transactions could be delayed, misrouted, or even rejected.
4. Axis Bank SWIFT Codes for Major Branches
Axis Bank operates through several branches across India, and each branch that facilitates international transactions is assigned a unique SWIFT code. Below is a list of the SWIFT codes for some of the key branches of Axis Bank across India:
| Branch Name | SWIFT Code |
|---|---|
| Axis Bank, Mumbai (Head Office) | AXISINBBXXX |
| Axis Bank, New Delhi | AXISINBBDEL |
| Axis Bank, Chennai | AXISINBBCHN |
| Axis Bank, Bangalore | AXISINBBBLR |
| Axis Bank, Kolkata | AXISINBBKOL |
| Axis Bank, Hyderabad | AXISINBBHYD |
| Axis Bank, Ahmedabad | AXISINBBAHM |
| Axis Bank, Pune | AXISINBBPUN |
| Axis Bank, Jaipur | AXISINBBJAI |
| Axis Bank, Lucknow | AXISINBBLKO |
| Axis Bank, Coimbatore | AXISINBBCOI |
| Axis Bank, Chandigarh | AXISINBBCHD |
| Axis Bank, Surat | AXISINBBSRT |
| Axis Bank, Nagpur | AXISINBBNAG |
| Axis Bank, Goa | AXISINBBGOA |
| Axis Bank, Patna | AXISINBBPAT |
| Axis Bank, Bhopal | AXISINBBHOP |
| Axis Bank, Kochi | AXISINBBKOI |
| Axis Bank, Indore | AXISINBBIND |
| Axis Bank, Bhubaneswar | AXISINBBBHU |
5. How to Use Axis Bank’s SWIFT Code for International Transfers
To send or receive money internationally, you need to provide specific details, including the SWIFT code of the bank and branch involved in the transaction. Here’s a step-by-step guide on how to use Axis Bank’s SWIFT codes for an international wire transfer:
- Recipient Information:
- Full name of the recipient.
- Recipient’s bank account number or IBAN (International Bank Account Number).
- Bank Information:
- Name of the recipient’s bank (e.g., Axis Bank).
- Branch name (if required) and the SWIFT code for that branch (e.g., AXISINBBXXX for the Mumbai Head Office).
- Transaction Information:
- The amount to be transferred.
- The currency of the transaction.
- Purpose of the transfer (e.g., remittances, trade payments, etc.).
The SWIFT code ensures that the funds are securely transferred to the intended recipient’s bank account in the correct branch.
6. Frequently Asked Questions (FAQs) About Axis Bank SWIFT Codes
Q1. Can I use the same SWIFT code for different branches of Axis Bank? No. Each Axis Bank branch that handles international transactions has its unique SWIFT code. It’s important to use the correct SWIFT code for the specific branch where the recipient holds their account. For general purposes or if the branch does not have a specific code, you can use the SWIFT code of the main branch or head office (AXISINBBXXX).
Q2. What happens if I use the wrong SWIFT code? Using the wrong SWIFT code could result in the payment being delayed, misrouted, or even rejected. Always ensure that the SWIFT code you use is accurate and corresponds to the correct branch.
Q3. Do I need a SWIFT code for domestic transactions in India? No. For domestic transactions within India, you need to use an IFSC code (Indian Financial System Code), which is used for NEFT, RTGS, and IMPS transfers. SWIFT codes are only used for international transactions.
Q4. How can I find the SWIFT code for a specific Axis Bank branch? To find the SWIFT code of an Axis Bank branch, you can:
- Visit the Axis Bank website.
- Contact the branch directly to inquire about their SWIFT code.
- Use online SWIFT code directories.
7. Benefits of Using Axis Bank for International Transactions
Axis Bank offers several advantages for customers conducting international financial transactions:
- Extensive Branch Network: With branches across India and abroad, Axis Bank provides a wide range of options for customers sending or receiving international funds.
- Secure Transactions: The bank’s membership in the SWIFT network ensures that all international transactions are processed securely.
- Competitive Exchange Rates: Axis Bank offers competitive foreign exchange rates, making it a cost-effective option for foreign currency transfers.
- Efficient Remittance Services: Whether for personal remittances or business payments, Axis Bank provides fast and efficient remittance services.
- Customer Support: The bank offers dedicated customer support for international transactions, making it easier for customers to address any issues or queries related to SWIFT codes or foreign transfers.
8. Conclusion
The SWIFT code is a vital part of international banking. Whether you’re receiving payments from abroad or sending money internationally, using the correct SWIFT code ensures that your transaction is completed smoothly and securely.
Axis Bank, with its extensive network and reputation as one of India’s leading private sector banks, provides reliable international banking services. Be sure to use the correct SWIFT code for the Axis Bank branch you are working with to avoid delays or complications in your transactions.
With this guide, you should have all the information you need to find the correct Axis Bank SWIFT code and complete your international transactions with confidence.