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As far as I know, sending payment messages across the SWIFT Financial Network generally requires a swift code. An organisation on the SWIFT FIN Network is uniquely identified by its Business Identification Code (BIC), which is eight or eleven characters long.
So, you need to get the Business Identification Code of your son’s USA Bank. The eight-character BIC now has four business party prefix characters, two country-specific characters identifying the entity's location, and two business party suffix characters as its final two characters. In the past, the entity was identified by the first four characters; however, new BIC assignments no longer adhere to this norm due to bank mergers and acquisitions.
So, the BIC ID for U.S. Bank would be USBKUS44IMT (for International Money Transfer). U.S. Bank's identity was given as USBK, the country's code was 44, and the location of the bank's headquarters was provided.
I hope this helps you.
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I would like to transfer Money INR in India to Sons USA student account, but he does not have SWIFT CODE of USA bank. How to get SWIFT or is there any alternative?
Pranay Govind Mahajan
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1
2 Year
2023-03-28T13:39:59+00:00 2023-03-28T14:12:58+00:00Comment
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