SWIFT/BIC codes in China: banks starting with M

Bank SWIFT codes for China

In China our database holds 2652 SWIFT/BIC codes, spread over 668 banks. Every code points to an institution or one of its branches, so a payment from abroad reaches the right place.

Search for the recipient’s bank below and open its page to see the full list of codes and the details a transfer needs. Below the list we explain how codes from China are built, how to send money there without overpaying and what to check before you pay.

Bank of Communications and its SWIFT codes

Bank of Communications tops the list of China banks in SWIFT/BIC codes. Its head office code is COMMCNSHXXX.

A large number of codes usually means that the bank registers branches and departments separately – it says nothing about the size of the bank as such. Unless the recipient asks for a branch, COMMCNSHXXX is fine for a payment to Bank of Communications.

When does money sent to China arrive?

How quickly money reaches China is determined by a few things: the currency, the number of banks in between, cut-off times and differences in time zone. Bank holidays in China or in the sending country add extra days, because banks do not process payments on those days.

Many banks use SWIFT gpi. Every gpi transfer gets a unique transaction reference, the UETR. Keep your transfer receipt; a bank needs it to start a trace.

What a transfer to China really costs

An international bank payment to China often costs rather more than you think. You pay the transfer fee, sometimes fees from correspondent banks and, most importantly, the margin on the exchange rate when currencies differ.

The markup on the rate is often the largest part of the cost. A simple test: put the rate you get next to the mid-market rate and look at the difference.

Specialised transfer providers often use a rate near the mid-market rate and lower fees. Before your next transfer to China, it is worth to compare what arrives via GoldexPay rather than accepting the first rate you see.

How SWIFT codes from China are built

Each SWIFT/BIC code has 8 or 11 characters, always in the same order. First comes a four-letter bank code, followed by a two-letter country code and a two-character location code.

You can spot a code from China from letters five and six – those always form the country code of China. Codes with other letters in that position belong to another country.

The last three characters, if present, identify a specific branch; XXX is used for the head office. In most cases the head office code is fine unless the recipient asks for a specific branch.

China and the Chinese Yuan

The currency of China is the Chinese Yuan (CNY). When you pay another currency, it has to be converted somewhere along the way: by your bank, an intermediary or the receiving bank.

Where the conversion happens affects how much arrives, since every bank sets its own rate. Compare what CNY arrives with several services; the difference between options can be larger than you expect. Rates for CNY move during the day.

Verifying a SWIFT code from China

The most reliable place for the right code is paperwork issued by the bank. An incorrect BIC may lead to a delay, a payment being sent back or additional charges – compare it with the code in our list.

We collect bank codes using public sources and update our list from time to time. Still, banks merge, rename themselves or change codes, so information can be out of date. Treat this list as a reference rather than the last word. GoldexPay is not a bank.

Scammers regularly use payment requests with new bank details. Before paying, confirm changed details through a separate channel, using a number you already had.

Banks in China beginning with the letter :letter

The letter filter narrows the list to banks from China that begin with :letter. The totals mentioned above still cover the whole country and not only this selection.

Cannot find the bank? The registered name may start with a different letter – think of the full legal name instead of the brand. The full overview for China remains one click away if the letter filter does not help.

What a sender needs to pay you in China

Someone abroad who wants to pay you will ask for a few details from you, and missing ones are a common cause of delays. Give them the account holder’s name, the IBAN or account number, the BIC of your bank and your address, which some banks require.

Look up your bank in the list on this page to check its code. Certain sending banks may also want the name and address of your bank; it does no harm to include it.

The amount you receive can be lower than the amount sent. Fees for incoming transfers vary from bank to bank – your bank’s price list tells you what applies. On invoices, agree how the fees are split.

International payments to China and the BIC

China is not part of the SEPA area, so European euro rules do not apply. Payments from abroad usually go through the SWIFT network.

Not all countries use IBAN numbers; in that case the local account number is used instead. Check with the recipient which details their bank requires for incoming international payments. Before it arrives, a transfer may go through correspondent banks.