In South Africa, there are two types of customers that need branch codes on a regular basis. Users who do internet banking transactions and users who conduct telephone banking transactions
Consequently, if you are one of them and are unable to recall the codes, this is a fantastic reference website to save!
The following is a list of all of the major South African banks’ universal branch codes.
|Bank Name||Universal Bank Code||Swift Code|
|Absa Bank Limited||632 005||ABSAZAJJXXX|
|African Bank Limited||430 000||AFRCZAJJXXX|
|Bidvest Bank Limited||462 005||BIDBZAJJXXX|
|Capitec Bank Limited||470 010||CABLZAJJXXX|
|Discovery Bank Limited||679 000||DISCZAJJ|
|First National Bank (FNB)||250 655||FIRNZAJJ|
|FirstRand Bank - A subsidiary of First Rand Limited||250 655||FIRNZAJJRSL|
|Grindrod Bank Limited||223 626||GRIDZAJJXXX|
|Investec Bank Limited||580 105||IVESZAJJXXX|
|Merchantile Bank Limited||450 105||LISAZAJJXXX|
|Nedbank Limited||198 765||NEDSZAJJXXX|
|Old Mutual||462 005||OMAMZAJC XXX|
|Sasfin Bank Limited||683 000||SASFZAJJXXX|
|Standard Bank of South Africa||051 001||SBZAZAJJ|
|SA Post Bank (Post Office)||460 005||SBZAZAJJ|
|Tyme Bank||678 910||CBZAZAJJ|
Branch Code vs. Universal Branch Code: Which is better?
Branch Code – A bank’s branch code, in essence, identifies the geographical region in which the branch is situated.
It is a unique number that is linked with each and every branch of that specific bank, to put it simply.
Generic or Universal Branch Code — This is a user-friendly code that provides a single code for all of a bank’s branch locations. This code may be used on any transaction, regardless of where a bank account is kept or where it was created as a consequence of this.
Furthermore, all financial institutions are embracing this user-friendly method of using a universal code to facilitate transactions. In other words, this is one of the most user-friendly banking choices available, especially when it comes to online banking.
In particular, this is beneficial when it comes to doing online banking transactions. After everything is said and done, you may pick between banks that have universal branch codes and banks that have unique codes for each and every branch.
If you are one of the many people who is always looking for their branch code, you should be aware that you can now develop a practice of utilizing the one universal branch code when making payments into and collecting from your bank account online to make things more convenient for yourself.
What is the significance of branch codes in South Africa?
When and why do we need branch codes, and which banks in South Africa utilize unique branch numbers and which ones don’t are important questions to consider.
Some financial organizations, such as Absa and Capitec Bank, provide Universal Branch Codes, which are considered to be one of the most user-friendly banking choices available. Other financial institutions, on the other hand, do not offer this kind of universal branch code service.
In the event that you, like so many other people, often forget what your branch code is, universal codes may make your life a whole deal simpler; this is especially helpful when it comes to online banking services.
What is the purpose of bank codes in the first place?
- A bank code is a unique identifier that has been assigned to a central bank by the Banking
- Association of a specific nation on behalf of the country’s regulated banks. Every country’s banking laws and regulations, as well as all the codes, vary significantly from one another, and may be accessed online to make it easier to navigate the financial system.
- It is easy to make the mistake of conflating local branch numbers with worldwide banking codes, which are referred to as SWIFT codes.
- SWIFT codes are not just utilized in South Africa, but also in a plethora of other nations across the world.
More information about Swift codes for banks in South Africa may be found here.
In order to include branch codes into the prefix, SWIFT codes make use of International Bank Account Numbers (IBAN), which are derived from the account numbers of banks across the world.
Swift codes, also known as Bank Identifier Codes (BICs), are the most common configuration of Bank Identifier Codes. Each Swift Code is a one-of-a-kind identifying code that is unique to each particular bank.
Transferring money or communications from one bank to another requires the use of Swift codes.
In the United States, swift codes may be either eight or eleven digits long.
For those seeking for a bank or those wanting to switch banks to one that uses universal branch codes to make this a more user-friendly choice, there are many options to consider, and maybe in the near future all codes will be universal, making the need to search for branch codes obsolete!