SWIFT/BIC codes in Australia

SWIFT/BIC codes in Australia

Our directory lists 608 banks and other institutions in Australia and 1063 SWIFT/BIC codes between them. You need a SWIFT/BIC code mostly when making payments across borders, and especially for payments in foreign currencies.

Choose a bank from the list to view the head office code and its other codes, plus practical notes for sending and receiving money. Below the list you can read how a code from Australia is put together, how to send money there at a fair price and what to check before you pay.

Tracking a payment to Australia

How fast a payment reaches Australia is determined by several factors: which currency you send, how many intermediary banks are involved, daily processing deadlines and time zones. Bank holidays in either country add extra days, because banks do not process payments on those days.

A growing number of banks use SWIFT gpi for faster and traceable payments. Every payment carries a unique reference, the UETR, which the sending bank can use to trace it. Keep your transfer receipt until the money has arrived – you will need it if something goes wrong.

Australia and the Australian Dollar

Bank accounts in Australia are typically held in AUD, the local currency. Money sent in a different currency will be exchanged into AUD on its way to the recipient.

Who does the conversion has an effect on how much arrives, since every bank sets its own rate. Check how much AUD the recipient gets with different services. Exchange rates change during the day – some providers let you lock in a rate.

Paying a bank in Australia from abroad

Because Australia does not belong to SEPA, an international payment normally goes as a SWIFT payment. This means the payment always needs the SWIFT/BIC code of the receiving bank in addition to the account details.

In some countries, the account is identified by a domestic account number rather than an IBAN. The receiving bank often has instructions for payments from abroad. On the way to Australia, a transfer may go through correspondent banks that charge for their part.

The cheapest way to send money to Australia

If you send money to Australia with a regular bank, the stated fee is only part of what you pay. Besides the fee, correspondent banks may deduct a charge, and when the money is converted the bank often uses a less favourable rate than the real market rate.

Most of the cost usually sits in the exchange rate. Compare the rate you are offered against the mid-market rate, the midpoint you see on financial news sites. The difference is your real cost.

Money transfer services frequently offer rates closer to the mid-market rate and lower fees. On GoldexPay you can compare the amount that arrives in Australia with different providers, which makes the cheapest option easy to spot.

What a sender needs to pay you in Australia

To receive an international payment into a Australia account, the sender needs not just the BIC. Give them your name as registered with the bank, your account number or IBAN, your bank’s SWIFT code and your address, which some banks require.

The code of your bank appears in the list on this page. Some sending banks also want your bank’s address; it does no harm to include it.

Expect that the incoming amount is below the amount on the sender’s receipt. Correspondent banks can take a fee and your own bank may charge for processing, and when currencies differ, an exchange rate margin applies. For business payments, state how the fees are split.

What the letters in a Australia BIC mean

Each SWIFT/BIC code has eight or eleven characters in a fixed order. First comes four letters for the bank, followed by two letters for the country and two characters for the location.

You can recognise a bank code from Australia from the fifth and sixth characters – those always form the country code of Australia. If the country letters do not match Australia, you are looking at a bank somewhere else – worth double-checking.

If the last three are XXX, it refers to the head office. Choose a branch code only if the recipient’s bank asks for it.

Check the code before you pay

The most reliable place for the correct BIC remains a document from the bank itself. An incorrect BIC can cause delays, a payment being sent back or extra fees.

We collect SWIFT/BIC codes using publicly available data and check our list regularly. Even so, banks merge, rename themselves or retire codes and our data may lag behind. Before any payment that matters, check the code with the recipient. GoldexPay is an independent comparison site for money transfers.

Fraudsters regularly use payment requests carrying changed bank details that look completely genuine. Before paying, confirm a change of bank details through a separate channel.

Which bank in Australia has the most codes?

Of the 608 banks in Australia, BNP Paribas Services, (Australia Branch) has the largest number of SWIFT codes. Its main office uses PARBAUS1066 and that code covers most payments.

How many codes a bank has says something about how it organises its payments than about how big it is. Paying someone at BNP Paribas Services, (Australia Branch)? Go with PARBAUS1066 except when a specific branch code is requested.