The SWIFT code (Society for Worldwide Interbank Financial Telecommunication) is an internationally recognized identification code used to facilitate secure international financial transactions between banks and financial institutions. Each bank is assigned a unique SWIFT code, which is crucial for international transfers, foreign exchange transactions, and secure interbank communication.
In this article, we will cover the SWIFT code of Canara Bank, one of India’s largest and oldest public sector banks. We will also provide a list of SWIFT codes for various Canara Bank branches across India to help you with your international transactions.
1. What is a SWIFT Code?
A SWIFT code, also known as a BIC (Bank Identifier Code), is a standard format of 8 to 11 characters that uniquely identifies a specific bank and its branch. It is used for transferring money internationally and securely across countries.
Each part of the SWIFT code represents specific details:
- First 4 characters: Bank Code (e.g., CNRB for Canara Bank)
- Next 2 characters: Country Code (e.g., IN for India)
- Next 2 characters: Location Code (e.g., BB for Bangalore, the bank’s headquarters)
- Last 3 characters (optional): Branch Code (identifies the particular branch)
For example, the SWIFT code for Canara Bank’s head office in Bangalore is CNRBINBBXXX, where:
- CNRB represents Canara Bank,
- IN stands for India,
- BB is the location code for Bangalore,
- XXX indicates the main branch or the head office (or no specific branch is referenced).
2. Overview of Canara Bank
Founded in 1906, Canara Bank is one of India’s largest and oldest public sector banks. It offers a wide range of banking services, including retail, corporate, and international banking. Headquartered in Bangalore, Canara Bank has a vast network of branches across India and abroad, catering to millions of customers.
Canara Bank’s extensive presence and reputation make it a trusted institution for both domestic and international financial transactions. It is also one of the leading banks for facilitating international wire transfers and foreign exchange services, using the SWIFT network for secure transactions.
3. Why is a SWIFT Code Important?
A SWIFT code is essential for several reasons:
- International Money Transfers: When transferring funds to or from a foreign country, the SWIFT code ensures the money reaches the correct bank and branch.
- Foreign Exchange Services: SWIFT codes are necessary for processing foreign currency transactions.
- Secure Interbank Communication: Banks use SWIFT codes to securely communicate with each other regarding transfers, letters of credit, trade financing, and more.
- Global Financial Integration: SWIFT codes enable seamless international transactions, connecting Indian banks like Canara Bank to the global banking network.
4. SWIFT Codes of Canara Bank Branches in India
Below is a list of Canara Bank SWIFT codes for various prominent branches across India, including their main international transaction hubs. Each of these codes is necessary for making international transfers to these branches.
| Branch Name | SWIFT Code |
|---|---|
| Canara Bank, Head Office, Bangalore | CNRBINBBXXX |
| Canara Bank, Mumbai (Main Branch) | CNRBINBBBOM |
| Canara Bank, Chennai | CNRBINBBCHN |
| Canara Bank, New Delhi | CNRBINBBDEL |
| Canara Bank, Kolkata | CNRBINBBKOL |
| Canara Bank, Hyderabad | CNRBINBBHYD |
| Canara Bank, Ahmedabad | CNRBINBBAHM |
| Canara Bank, Pune | CNRBINBBPUN |
| Canara Bank, Lucknow | CNRBINBBLKO |
| Canara Bank, Jaipur | CNRBINBBJAI |
| Canara Bank, Coimbatore | CNRBINBBCOI |
| Canara Bank, Mangalore | CNRBINBBMNG |
| Canara Bank, Trivandrum | CNRBINBBTVM |
| Canara Bank, Goa | CNRBINBBGOA |
| Canara Bank, Chandigarh | CNRBINBBCHD |
| Canara Bank, Surat | CNRBINBBSRT |
| Canara Bank, Patna | CNRBINBBPAT |
5. How to Use Canara Bank’s SWIFT Code for International Transactions
When sending or receiving money internationally via Canara Bank, you need to provide certain details, including the SWIFT code of the branch where the recipient holds an account. Here’s what you typically need:
- Recipient Information:
- Full name of the recipient.
- Their account number or IBAN (International Bank Account Number).
- Bank Information:
- Name of the bank (e.g., Canara Bank).
- Branch name and address (if required).
- The SWIFT code of the specific Canara Bank branch (e.g., CNRBINBBBOM for the Mumbai branch).
- Transaction Details:
- The amount and currency being sent.
- Purpose of the transaction (e.g., personal remittance, business transaction).
The SWIFT code ensures that the money is accurately routed to the intended Canara Bank branch.
6. Frequently Asked Questions (FAQs) About Canara Bank SWIFT Codes
Q1. Is a SWIFT code necessary for domestic transactions? No, a SWIFT code is only required for international transactions. For domestic transfers within India, you would use the IFSC code (Indian Financial System Code) for electronic funds transfers such as NEFT, RTGS, or IMPS.
Q2. What happens if I use the wrong SWIFT code? If an incorrect SWIFT code is used, the transaction may either fail or be delayed. In rare cases, funds may be routed to the wrong bank, which could cause complications and take time to rectify. It is important to double-check the SWIFT code before initiating the transaction.
Q3. Can I use the head office SWIFT code (CNRBINBBXXX) for all branches? While the head office SWIFT code CNRBINBBXXX can sometimes be used if a specific branch does not have its own code, it’s best to use the branch-specific SWIFT code whenever possible to avoid delays.
Q4. How can I find the SWIFT code for a specific Canara Bank branch? You can find the SWIFT code for any Canara Bank branch through the following ways:
- By visiting the official Canara Bank website.
- By contacting the branch directly and asking for the SWIFT code.
- By searching online databases that list SWIFT codes for banks across the world.
7. Benefits of Using Canara Bank for International Transactions
There are several benefits of using Canara Bank for international banking needs, including:
- Extensive Branch Network: With thousands of branches spread across India, Canara Bank ensures you can handle international transfers from almost anywhere in the country.
- Secure Transactions: Canara Bank is part of the SWIFT network, ensuring that all transactions are carried out securely and efficiently.
- Dedicated Customer Service: Canara Bank offers excellent customer support for handling any queries related to international transfers, exchange rates, and SWIFT codes.
- Wide Range of Services: Canara Bank provides a variety of services for both retail and corporate customers, including remittances, foreign exchange transactions, trade finance, and more.
8. Conclusion
The SWIFT code of Canara Bank is essential for sending or receiving international funds securely. Whether you’re a business dealing with overseas clients or an individual sending remittances, knowing the correct SWIFT code is crucial for a smooth transaction.
For specific transactions, always ensure you have the correct SWIFT code for the branch you’re dealing with. Canara Bank’s extensive branch network and strong international presence make it a reliable option for handling international transactions across the globe.
Be sure to use this guide to find the correct SWIFT code for the Canara Bank branch you are working with and ensure smooth and secure international banking transactions.