GTBank Swift Code (For Receiving Money From Outside Nigeria)

 

Are you searching online for “GTBank swift code” or “GTB Swift Code”?

This page features the official swift code of Guaranty Trust Bank in Nigeria. Keep reading!

What Is Swift Code?

A SWIFT code, also called a SWIFT number sometimes, is a standard format for Business Identifier Codes (BIC).

Banks and financial institutions use them to identify themselves globally. It says who and where they are. It’s a sort of international bank code or ID.

These codes are used when transferring money between banks, particularly for international money transfers or Single Euro Payments Area (SEPA) payments.

Banks also use these codes to exchange messages between each other.

The registrations of SWIFT codes are handled by Society for Worldwide Interbank Financial Telecommunication (SWIFT) and their headquarters is located in La Hulpe, Belgium.

SWIFT is the registered trademark of S.W.I.F.T. SCRL with a registered address at Avenue Adèle 1, B-1310 La Hulpe, Belgium.

Why Use Swift Code?

The SWIFT code is usually required when you conduct an international money transfer and is used to identify a specific bank account in the process of verifying international transactions.

Do you need swift code for international transfer?

Only banks having swift code can convert currency. Other banks are not authorized to convert this. Therefore, Swift code is must for direct international transactions.

How Do You Use Swift Code?

Here’s how it works: when a person wants to transfer money internationally, they will go to their bank with the recipient’s banking SWIFT code and an international account number.

The local bank will then send a SWIFT message to the recipient’s bank to accept the transfer.

What is BIC?

Bank Identifier Code (BIC) is another way of referring to either a SWIFT code or  Routing code. They are basically the same.

A Breakdown Of The Details Of A SWIFT Code

A SWIFT/BIC is an 8-11 character code that identifies your country, city, bank, and branch.

Below is a full breakdown of the Swift code details:

Bank code (Letters)

The first 4 letters represents the bank. It usually looks like a shortened version of that bank’s name.

Country code (Letters)

The following 2 letters represents the country the bank is in.

Location code (Can be Letters, Numbers or Both)

The next 2 characters after the country code is the location code. It is made up of letters or numbers. It says where that bank’s head office is.

Branch Code (Numbers/Letters)

The last 3 digits specify a particular branch. For example ‘XXX’ represents the bank’s head office.

Where Can I Find GTBank SWIFT/BIC Code?

You ca n find GTBank SWIFT/BIC code on this webpage or at the account statement sent to your email by the bank.

Here’s GTBank Swift Code For International Transactions

Company Name: Guaranty Trust Bank Plc.
SWIFT code:                 GTBINGLA
Headquarters:              Victoria Island, Lagos.
Official Website: https://www.gtbank.com
Institution type: Bank

In Conclusion

A SWIFT code is a code used to identify the country, bank and branch that an account is registered to.

This post reveals GTBank swift code for making international transaction.

Every bank has their unique swift code. You’ll be requested to input it before making an international transfer. So it is wise to know the swift code of your bank.

I hope you find this information useful. If yes, please feel free to share.

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