Essence Securities Co LTD SWIFT/BIC code

SWIFT/BIC code of Essence Securities Co LTD

The short code ESEUCNB1 and the full code ESEUCNB1XXX refer to one and the same institution: Essence Securities Co LTD, with its head office in Shenzhen. A SWIFT code shows the banks handling a payment which institution should receive the money, a bit like a postal address for banks. You will need it mainly when dealing with payments that cross a border and payments in foreign currencies.

Further down we go through the practical questions: money coming in from abroad, paying someone in another country and how to check the code before you confirm a payment. The SWIFT code on its own does not identify an individual account holder; that is what the account number or IBAN .

How to check ESEUCNB1 before you pay

The best place to find the right code is paperwork issued by the bank. If the code you have does not match ESEUCNB1 or ESEUCNB1XXX, do not guess: check with the recipient or with Essence Securities Co LTD directly.

If the code is wrong, the transfer might be delayed, bounce back or cost extra. An error in the IBAN or account number can be a bigger problem, because the money may be credited to someone else.

An automatic check by your bank only confirms that the code exists, not that it is the right account. If your bank offers it, a payee name check on the recipient adds extra certainty. When you pay someone new, many people start with a small test amount.

Paying into Essence Securities Co LTD in CNY

China pays in the Chinese Yuan (CNY). Money sent in a different currency is exchanged into CNY on its way to Essence Securities Co LTD. There is rarely a separate charge for that conversion; it is built into the rate.

Who does the conversion has an effect on the final amount, as rates and margins differ per bank. Check what CNY the recipient gets with several providers before choosing one.

Rates for CNY move all the time – some services let you fix a rate in advance. On larger amounts, even seemingly small gap in the rate can be worth more than the fee.

Paying someone abroad from your Essence Securities Co LTD account

An international bank payment can cost rather more than the fee suggests. On top of a fixed fee, banks in between can take a cut, and if the money changes currency, the bank usually uses a rate below the actual market rate.

Most of the cost usually sits in the exchange rate: the bank converts using an exchange rate that includes a margin. Compare their rate against the mid-market rate – the rate you find on financial news sites; the gap is what conversion costs you.

Money transfer services often use rates closer to the mid-market rate with clearer fees. GoldexPay compares what recipients receive with different services, so you can pick the cheapest route. Using a transfer service does not require closing your account at Essence Securities Co LTD.

Choosing between the 2 SWIFT codes of Essence Securities Co LTD

Essence Securities Co LTD uses 2 different SWIFT/BIC codes. One of them is the head office code, ESEUCNB1XXX; the others belong to branches or departments, and sometimes internal departments.

For most payments to a private or business account, the head office code ESEUCNB1XXX is what you need. Just use a branch code when the recipient gives you that exact code, for example on a letter or invoice.

The best way is to copy the code straight from the account holder’s invoice. Branch codes are more likely to be retired than ESEUCNB1XXX.

Getting paid from abroad into a Essence Securities Co LTD account

When you expect a payment from another country, give the sender a complete set of details. Give them the account holder’s name, the IBAN or account number, the BIC ESEUCNB1XXX and your address, which some banks require.

The sender’s bank may also ask for the address of your bank, in which case the Shenzhen head office is the usual answer. A typo in the IBAN can be more trouble than it looks; copy them from your banking app rather than typing.

The amount you receive can be less than the amount sent. Intermediary banks may deduct a fee, Essence Securities Co LTD may charge for incoming payments, and when currencies differ, a markup on the rate applies. For business payments, it is common to state who bears the costs.

How long does an international transfer to Essence Securities Co LTD take?

A SWIFT payment usually takes anywhere from one to several business days. Payments made late in the day or on weekends and holidays usually start the next business day. Compliance checks by one of the banks can also cause some delay, even when all details are correct.

When a payment takes longer than expected, ask the sending bank for the tracking status or the UETR. Money transfer services usually provide a status in their app so you can see where the payment has got.

If the money does not arrive after a few business days, the sender should start with the bank that sent it rather than Essence Securities Co LTD. On the receiving end, you can look at your statements for a slightly lower amount, since fees may have been deducted.

Changed bank details? Be careful

Fraudsters often send payment requests with new bank details sent from what looks like a familiar address. That ESEUCNB1 is a real code is no guarantee that the account is genuine – fraudsters use real bank codes as well.

Do not rely on a phone number from the same email that announces the new account. Pressure or requests to keep it quiet are warning signs; a genuine business can wait for you to check. When money was sent to a fraudster, call your bank right away: the sooner they act, the better the chance of a recall.

People receiving money are targeted too: one known trick is a buyer who pays too much followed by a request to refund the difference to another account. Wait until the money is actually in your account – ask Essence Securities Co LTD if something looks wrong.

How up to date is this code?

The codes on this page are taken from publicly available data that we update regularly. It is possible that information here is no longer current after a merger or reorganisation. Figures such as the number of codes come from our directory.

Use this page as a starting point, not as the last word: the recipient’s bank details come first. GoldexPay has no connection to Essence Securities Co LTD. Found outdated information? Tell us through the contact page and we will look into it.

Why Essence Securities Co LTD has an 8- and an 11-character code

Every SWIFT/BIC code starts with an 8-character core: a four-letter bank code, a two-letter country code and two characters for the location. That gives you ESEUCNB1, the short form of the code.

XXX at the end of ESEUCNB1XXX does not stand for a placeholder or an error: it indicates the main office of Essence Securities Co LTD. Some banking apps insist on 11 characters, in which case you can enter XXX after ESEUCNB1.

As a rule the code is written in capitals, without spaces or dashes. Copying the code beats retyping it: a typo can point to another bank.