If you know the UBA bank SWIFT code, you can quickly receive a bank wire from a foreign destination into your UBA bank account.
If you are a UBA customer, this article will teach you how to receive cash from overseas corporations using the UBA bank BIC.
Basically, the UBA bank SWIFT code allows you to transfer money from a foreign bank account to your local bank account quickly and easily.
You can receive cash from any international company, including those in the United States, Canada, England, France, and other countries, using your UBA bank SWIFT code.
What is UBA swift Code or All Branches?
UNAFNGLA is the SWIFT code for UBA. This code is valid regardless of the where you opened your UBA Bank account, whether it was at a branch or in a different state.
SWIFT provides a network that allows financial institutions all over the world to exchange and receive information about financial transactions in a secure, standardized, and reliable manner.
United Bank For Africa (UBA) Information
|Company Name||United Bank For Africa Plc.|
Frequently Asked Questions
What is the difference between a BIC and a SWIFT code?
SWIFT stands for the Society for Worldwide Interbank Financial Telecommunications, and BIC stands for Bank Identifier Code. The names “BIC” and “SWIFT” are sometimes used interchangeably. For international transactions, a SWIFT code or SWIFT ID is used to identify banks and other financial institutions all over the world. It specifies who and where these institutions are, ensuring that your funds are directed to the correct location — you could think of it as a worldwide identity card for banks.
SWIFT codes for financial and non-financial institutions are recognized and approved by the International Organization for Standardization (ISO). There are currently approximately 40,000 active SWIFT codes around the world.
How does a BIC/ SWIFT code appear?
SWIFT/ BIC codes are made up of eight to eleven characters that identify your city, nation, bank, and bank branch. It’s possible that the code will look like this: AAAABBCCXXX
Is everything jumbled up? Let’s start with the BIC format:
AAAA: Your bank’s four-letter code, which is commonly a shorter version of its name.
BB: A two-letter country code that indicates where the bank is located.
CC: A two-character geographic code indicating the location of the bank’s headquarters. It is a combination of letters and numbers.
XXX: A three-digit branch code that designates a specific bank branch, usually the bank’s headquarters.
However, the last three numbers are optional.
What is the purpose of a BIC/ SWIFT code?
You’ll nearly always need to use a SWIFT/ BIC code if you wish to move money over the world. This is due to the fact that money transfers do not officially transmit money throughout the world. Banks securely transfer information to one another via the SWIFT system or other methods, letting them know where the money should come from (which account should be debited) and where the money should be credited. In other words, without this code, your bank will have no idea where to send your money.
When it comes to international wire transfers, it’s critical for a bank on one side of the world to find the right bank on the other.
How can I check the validity of a SWIFT code
Always double-check the BIC/ SWIFT code and other details with the receiver or your bank before transferring or receiving money.
But why do you need to double-check it?
In reality, if you input a SWIFT code that does not exist, the bank should reverse the transaction and refund your funds. They will, however, charge a fee for this, and it may take some time before you receive your money back.
Get in touch with your bank as soon as you realize you’ve entered the wrong code to transmit money internationally (uh-oh). Keep your fingers crossed that they will be able to cancel the transaction.
People frequently inquire about the SWIFT BIC of the UBA branch closest to them. In other words, they want to know the precise SWIFT BIC of the UBA branch where they established an account.
Regardless of where you live in Nigeria, such as Edo, Abuja, Lagos, Imo, Benin, Port Harcourt, Enugu, Kaduna, and so on, the SWIFT code you can use to receive cash from abroad is UNAFNGLA, and it is the same for all states.