Industrial Bank of Korea (China) Limited SWIFT/BIC code

What IBKOCNBT means for a payment to Industrial Bank of Korea (China) Limited

IBKOCNBT and IBKOCNBTXXX are the short and the long form of the same SWIFT/BIC code, and both point to Industrial Bank of Korea (China) Limited in Tianjin. A BIC has a single purpose: it makes sure that an international payment reaches the right bank. It comes up mainly when dealing with transfers between countries or a currency.

Further down you will find the practical side: receiving money at Industrial Bank of Korea (China) Limited, sending money abroad and how to verify a SWIFT code before you confirm a payment. The SWIFT code alone cannot identify a personal account; that is what the account number or IBAN .

The Chinese Yuan and what conversion costs you

China pays in the Chinese Yuan (CNY). Money sent in a different currency is exchanged into CNY. There is rarely a separate charge for that conversion.

Where the conversion happens affects how much arrives. In many cases you pay less if you send CNY directly via a provider with a good rate.

The rate for CNY fluctuates throughout the day, so the amount you see is usually only valid for a short time. On larger amounts, a seemingly small difference in the rate can be worth more than the fee.

About this information

We collect SWIFT/BIC codes using publicly available data and update our list from time to time. Even so, banks merge, rename themselves or retire codes. The number of codes we show are based on our own data and not on information from Industrial Bank of Korea (China) Limited itself.

Treat the information here as a handy check. GoldexPay is a comparison site and not affiliated with Industrial Bank of Korea (China) Limited. Spotted an error? Tell us via our contact form.

Incoming international payments to Industrial Bank of Korea (China) Limited

To receive an international payment at Industrial Bank of Korea (China) Limited, the sender has to have not just the SWIFT code. That means: your name as registered with Industrial Bank of Korea (China) Limited, your account number or IBAN, the BIC IBKOCNBTXXX and sometimes your address.

Some banks also ask for the name and address of Industrial Bank of Korea (China) Limited; it does no harm to include it. A mistake in your account number is more trouble than you might think, so copy the details from your online banking.

Expect that the amount credited is smaller than what the sender paid. Fees for incoming transfers differ per bank. For business payments, you can agree who bears the costs to avoid a shortfall.

Why Industrial Bank of Korea (China) Limited has an 8- and an 11-character code

A BIC is made up of fixed blocks: characters one to four identify the bank, characters five and six show the country and characters seven and eight indicate the location. Combined, these eight characters form IBKOCNBT, the code most people search for.

XXX at the end of IBKOCNBTXXX does not stand for a placeholder or a mistake: it indicates the head office of Industrial Bank of Korea (China) Limited. Some forms ask for 11 characters, and then you can add XXX behind IBKOCNBT.

In practice the code is typed in capitals, without spaces or dashes. A single character may route the money to a different institution, so copy it carefully.

Tracking a transfer to or from Industrial Bank of Korea (China) Limited

How fast a payment reaches Industrial Bank of Korea (China) Limited depends on several factors: which currency you send, how many intermediary banks are involved, cut-off times and time zones. Weekends and public holidays in either country can add a day or more. Extra checks on larger or unusual payments may also add a delay.

A growing number of banks use SWIFT gpi. Every payment gets a unique reference, the UETR that banks can use to trace it. Keep your transfer receipt; it contains the details a bank needs to start a trace.

The bank that sent the money is able to start an official trace or a recall. On the receiving end, it helps to check your statements to see a partial amount, since fees may have been deducted.

Which of the 9 codes of Industrial Bank of Korea (China) Limited do you need?

Our directory lists 9 SWIFT/BIC codes for Industrial Bank of Korea (China) Limited in 8 cities. Next to the head office code IBKOCNBTXXX, there are codes for branches, departments or specific services.

For the vast majority of payments to a private or business account, the head office code IBKOCNBTXXX is what you need. When you receive a specific code, stick to it rather than replacing it for the head office code.

Unsure which code to use? Ask the recipient. Branch codes are more prone to change than IBKOCNBTXXX.

Protect yourself against fake payment requests

One of the most common tricks goes like this: you receive a request saying that a supplier has a new bank account and asking you to pay there from now on. A correct SWIFT code tells you nothing about whether the request is genuine.

Always confirm changed bank details through a phone call. Urgency and secrecy tend to be warning signs – a real supplier can wait a day. Acted too fast? Call your bank straight away and ask them to start a recall.

Recipients can be targeted as well: one known trick is a buyer who pays too much and then sends a request to refund the difference to another account. Wait until the money has really arrived.

International transfers from Industrial Bank of Korea (China) Limited: the real cost

An international bank payment can cost rather more than the listed fee. There is the transfer fee, sometimes charges from correspondent banks in between and, above all, the margin on the exchange rate when the money is converted.

That exchange rate margin is often the largest item, and it is easy to miss. An easy check: set the rate you get against the mid-market rate for the same moment and work out the difference on your amount.

Specialised transfer providers frequently offer a rate near the mid-market rate with clearer fees. Before your next transfer, take a minute to compare the total cost on GoldexPay rather than accepting the bank’s rate by default. Choosing a specialist does not require closing your account at Industrial Bank of Korea (China) Limited – you pay the provider from your own account.

Is IBKOCNBT still correct? How to check

The safest source for a SWIFT code is the bank details provided by the recipient: an invoice, a bank statement or their online banking. If the code you have differs from IBKOCNBT or IBKOCNBTXXX, stop and ask: check with the recipient or with Industrial Bank of Korea (China) Limited directly.

With a wrong code, the payment might be delayed, bounce back or end up costing more. Remember the account number: an error there is more difficult to correct than a wrong BIC.

An automatic check in your banking app only tells you that the code is valid. Some banks now check the payee name with the account – do not ignore a mismatch warning. For a first payment, some people send a small amount first before sending the rest.