In today’s global economy, international transactions are becoming increasingly common for both individuals and businesses. One key element that facilitates these transactions is the SWIFT code. For customers of State Bank of India (SBI), knowing the right SWIFT code is essential for smooth international banking. In this article, we will dive deep into what a SWIFT code is, why it is important, and provide a comprehensive list of SBI SWIFT codes across major branches in India.
1. What is a SWIFT Code?
A SWIFT code (or BIC – Bank Identifier Code) is an internationally recognized code that is used to identify a particular bank or financial institution during international transactions. This code ensures that money sent or received internationally goes to the right bank.
Format of a SWIFT Code
A SWIFT code typically consists of 8 to 11 characters:
- First 4 characters: Represent the bank code. For SBI, this is always SBIN.
- Next 2 characters: Represent the country code. For India, this is IN.
- Next 2 characters: Represent the location code (e.g., BB for Mumbai).
- Last 3 characters (optional): Represent the specific branch code (if present).
For example, the SWIFT code SBININBBXXX refers to the Mumbai Main Branch of SBI.
2. Why is the SWIFT Code Important?
The SWIFT code is crucial for international wire transfers, receiving foreign remittances, and conducting other cross-border financial transactions. Without a SWIFT code, international payments cannot be accurately routed to your SBI account. Here’s why it matters:
- Accurate Transfers: Ensures that money is sent to the correct bank and branch.
- Security: Adds a layer of security to international transactions by identifying the recipient’s financial institution.
- Compliance: Facilitates compliance with international banking standards and helps avoid delays or errors in transactions.
3. How to Use SBI SWIFT Codes for International Transfers
When initiating or receiving an international transaction, you will be required to provide:
- SWIFT Code of your SBI branch.
- Bank Account Number (SBI account number).
- Beneficiary Name (as per the bank records).
Providing the correct SWIFT code ensures that your funds are accurately directed to your SBI account.
4. List of SWIFT Codes for Major SBI Branches in India
Here is a list of SWIFT codes for some of the major SBI branches across India. These branches are typically equipped to handle international wire transfers:
| City | Branch Name | SWIFT Code |
|---|---|---|
| Mumbai | International Branch | SBININBBXXX |
| New Delhi | Main Branch | SBININBBPIS |
| Kolkata | Overseas Branch | SBININBB201 |
| Chennai | Overseas Branch | SBININBB420 |
| Bangalore | Bangalore Main Branch | SBININBB441 |
| Hyderabad | Hyderabad Main Branch | SBININBB832 |
| Pune | Pune Main Branch | SBININBB500 |
| Ahmedabad | Ahmedabad Main Branch | SBININBB706 |
| Chandigarh | Chandigarh Main Branch | SBININBB170 |
| Lucknow | Lucknow Main Branch | SBININBB602 |
| Coimbatore | Coimbatore Main Branch | SBININBB960 |
| Jaipur | Jaipur Main Branch | SBININBB163 |
| Nagpur | Nagpur Main Branch | SBININBB781 |
| Indore | Indore Main Branch | SBININBB651 |
| Surat | Surat Main Branch | SBININBB764 |
| Trivandrum | Trivandrum Main Branch | SBININBBTVD |
| Guwahati | Guwahati Main Branch | SBININBB159 |
| Bhopal | Bhopal Main Branch | SBININBB510 |
| Patna | Patna Main Branch | SBININBB482 |
| Ranchi | Ranchi Main Branch | SBININBB875 |
| Bhubaneswar | Bhubaneswar Main Branch | SBININBB620 |
| Goa (Panaji) | Panaji Main Branch | SBININBB241 |
For more details please visit: https://sbi.co.in/web/nri/quick-links/swift-codes
5. How to Find the SWIFT Code of Your SBI Branch
If your branch is not listed above, you can easily find its SWIFT code using the following methods:
- Visit the SBI Website: The official SBI website provides a branch locator that includes SWIFT codes.
- Call Customer Support: Contact your branch directly, and they will provide the SWIFT code.
- Bank Statements or Passbook: Sometimes, the SWIFT code is printed on your bank statement or passbook.
- SWIFT/BIC Finder: Use an online SWIFT/BIC code finder to look up your branch’s SWIFT code.
6. Important Things to Know About SBI SWIFT Codes
- Not all SBI branches have SWIFT codes: Only those branches that handle international transactions or are linked to major financial hubs will have a SWIFT code.
- Routing Through Other Branches: If your branch does not have a SWIFT code, international transfers may be routed through a branch that does, like the SBI Mumbai International Branch.
- Branch Code: Some SWIFT codes include a specific branch identifier at the end, while others may use “XXX”, indicating the main or head branch.
7. Common Queries About SBI SWIFT Codes
Here are answers to some frequently asked questions:
Q1: What if my SBI branch does not have a SWIFT code?
- If your branch does not have a SWIFT code, the transaction will be routed through a nearby SBI branch with a SWIFT code. You can ask your branch for details on how to handle international payments.
Q2: Can I use any SBI branch’s SWIFT code for international transfers?
- It’s recommended to use the SWIFT code for your specific SBI branch. However, if your branch doesn’t have a SWIFT code, you can use a neighboring branch’s SWIFT code.
Q3: How long does an international transfer to an SBI account take?
- International transfers typically take 1-5 business days, depending on the countries and banks involved in the transaction.
Q4: Is the SWIFT code the same for all branches in a city?
- No, different branches in the same city may have different SWIFT codes, especially if they handle different types of transactions (like retail or corporate).
8. Why SBI SWIFT Codes Are Important for Businesses
For businesses dealing with international clients or suppliers, using the correct SWIFT code ensures smooth transactions. Whether it’s receiving foreign remittances or paying vendors abroad, the right SWIFT code prevents delays and errors, ensuring efficient global trade.
Conclusion
The SWIFT code is a critical part of any international banking transaction. For customers of State Bank of India (SBI), knowing the correct SWIFT code for your branch ensures that you can send and receive international payments efficiently. We’ve provided some of the key SWIFT codes for major SBI branches across India, and for those not listed, you can easily find the SWIFT code through the SBI website or by contacting your branch.
Whether you’re a business handling cross-border trade or an individual receiving remittances from abroad, having the correct SWIFT code guarantees your transactions are processed without delay.