A universal branch code is a unique number assigned to each bank branch in South Africa, used as an identification code for financial transactions, particularly electronic funds transfer (EFT) payments. The universal branch code is a simple code that can be used across all branches of a particular bank, regardless of where a bank account is kept or opened and is used for every transaction.
Universal Branch Codes for South African Banks
|ABSA Branch Code||632005|
|African Bank Branch Code||430000|
|Bank of Athens Branch Code||410506|
|Bidvest Bank Branch Code||462005|
|Capitec Branch Code||470010|
|First National Bank / FNB Branch Code||250655|
|Investec Branch Code||580105|
|Nedbank Branch Code||198765|
|SA Post Bank Branch Code||460005|
|Standard Bank Branch Code||051001|
|Tyme Bank Branch Code||678910|
A branch code is a unique number that identifies a specific branch of a bank, indicating the location where the branch is located. Essentially, it is a code associated with each branch of a particular bank.
Branch Code vs Universal Branch Code
Branch Code –A branch code is a unique number that identifies a specific branch of a bank, indicating the location where the branch is located. Essentially, it is a code associated with each branch of a particular bank.
Universal Branch Code –On the other hand, a universal branch code is a user-friendly alternative that offers a single code for all bank branches. This code can be used for transactions regardless of which branch the account is held or opened. Many major banks and financial institutions are adopting this more streamlined approach to branch codes, making it easier for customers to manage their banking needs, especially Internet banking.
When it comes to making international payments, it’s important to note that the account number of the International Bank Account Number (IBAN) and the SWIFT address are required. It’s also important to avoid confusing the swift code with the branch code, as they serve different purposes. The swift code is usually used as an international banking code required for international payments, whereas the branch code is used to identify a specific bank branch.
You may also need a branch or sort code for international transactions. Depending on the bank’s trading hours, online transfers may take several business days.