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Account Opening Problem

Discussion in 'Beginners Bootcamp' started by cutiez, Apr 3, 2008.

  1. cutiez

    cutiez Recruit

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    Hi all,

    my problem is i've being trying to open a live account and they keep asking for some things which is making it a little bit hard to do.
    anyway, i believe thats how it use to be and i've being getting some.
    straight to the point can anyone tell me what BANK SWIFT CODE is.

    thanks.
     
  2. Pharaoh

    Pharaoh Colonel

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    I'm not an expert on this, but I believe that's part of the routing code to your bank. In conjunction with your bank account number, it can be used for wire transfers as well as electronic fund transfers.

    If you aren't planning to move money by wire or EFT, I wouldn't recommend giving out this sort of info. If you do plan to fund/withdraw by wire, you'll have to give it to them. If you don't know the SWIFT code, call your bank and they should be able to help out.
     
  3. mattymattz

    mattymattz Recruit

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    A Swift Code is...

    A SWIFT code is a standard format of Bank Identifier Codes approved by the International Organization for Standardization (ISO). It is the unique identification code of a particular bank. These codes are used when transferring money between banks, particularly for international wire transfers, and also for the exchange of other messages between banks. The codes can sometimes be found on account statements.

    I've used them before. Simply ask your bank for the code. It's usually a 11 character code. 8 letters followed by 3 numbers. The letters represent the bank, country and city and the numbers represent the office (I think).

    Hope that helps.
    Matt :err:
     
  4. odee911

    odee911 Private

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    As stated above, the bank swift code can easily be obtained by calling your bank. You should always have this information handy. Swiftcode and sometimes Routing number.

    This is used to receive inward wires. If you were to send outward wires you would need the brokers bank swift code along with account and other info.

    example bank of america swift code would look like this : BOFAUS3N
     

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