Get First Bank Swift Code that will enable you to proceed with the transaction anytime you’re asked to provide it.
A SWIFT code is a set of 8 or 11 digits that represents a bank branch, local or international. You’ll need to use the code when sending money to your loved ones internationally.
If you are looking for a First Bank swift code, or you have probably come across the need to find the swift code.
It’s also known as the BIC code, which stands for Bank Identifier Code, and is used to identify and verify international transactions. It can be requested for web banking while trying to transfer money to a different bank.
In this article, I will provide you with information regarding the First Bank Swift code, explain why you need the code, and answer related questions that are linked to the First Bank Swift code. So take a deep breath, relax, and read this article till the end.
What is a SWIFT code?
A SWIFT code is a unique code that identifies financial institutions and is commonly used for international wire transfers between banks.
Additionally, it is a collection of 8 or 11 numbers that designate a bank branch. When conducting transactions internationally, it is necessary and useful.
If you are searching for how to send or receive money from abroad to First Bank in Nigeria, you need to get the right First Bank Swift code. First Bank’s Swift code is a unique identifier for every institution’s branch in the world and is needed for international transactions.
This code is vital and compulsory for transferring money from one bank to another. Please don’t forget to always confirm the correct code with the bank and the name of the recipient before sending any money.
First Bank Swift Code
- Bank Name: First Bank of Nigeria Ltd (FBN)
- SWIFT Code: FBNINGLA
- Bank Address: Any First Bank Branch
- Bank code: GCS
- Branch City: Lagos
- Country: Nigeria
We know these codes as Swift Codes because of the organization that first introduced them, which is the “Swift Society for Worldwide Interbank Financial Telecommunication.” They were later standardized as BIC (Business Identifier Codes).
A Swift code can be created with either 8 or 11 characters. You will only need the eight-character Swift code, which is made up of different parts; the identifier of the institution (4 characters), the identifier of the country (2 characters), and the 2 characters are the identifier of the bank location.
In rare cases, if your bank processes payments through a specific branch, you will need the eleven-digit code, which will include the branch identifier.
Brief Summary: First Bank & Swift Codes
The First Bank has been sustaining its development-oriented services for over 126 years as the region’s preeminent financial service provider. It offers a vast range of services and has assisted over 44,000 business outlets and over 17 million customers in operating financial accounts.
As a significant and international bank, First Bank is ranked as one of the most exceptional financial service brands in Africa with an international impression through its subsidiaries.
However, First Bank has been recognized for enhancing the digital economy in Africa and has signed over 10 million digital banking cards. It has a history of being the first bank to achieve such a significant point in developing Nigeria.
First Bank’s financial services and cashless transactions have resulted in over 228 million users of its USSD banking service through the First mobile platform.
Frequently Asked Questions
Here are the answers to common questions asked by first bank customers:
Is a bank SWIFT code the same for all the bank branches?
You should be aware that not all bank location has a SWIFT code, therefore if it’s appropriate, you can primarily use the code for the bank’s headquarters.
Do I need an IBAN as well?
This is dependent upon the nation from which you are sending the money. You’ll always require an IBAN or a SWIFT/BIC code, as you would in the Eurozone. IBAN is not used by USA banks for foreign transactions; instead, they make use of SWIFT codes. It’s the same in New Zealand and a few other countries.
This comprehensive explanation of the First Bank Swift Code should be able to guide you through. In this article, I was able to explain the meaning of Swift code, the reason for having First Bank Swift Code, and the First Bank Swift Code itself.
Kindly make good and proper use of this information for your banking needs.
Last Updated on September 29, 2023 by NetworkPalava Admin