Ningbo Commerce Bank SWIFT/BIC code

SWIFT/BIC code of Ningbo Commerce Bank

BINHCN2N and BINHCN2NXXX are two ways of writing the same SWIFT/BIC code, and both point to Ningbo Commerce Bank in Ningbo. A SWIFT code tells the banks handling a payment which institution should receive the money, much like a postcode for banks. You will need it mainly for payments that cross a border and payments in foreign currencies.

This page is meant to help anyone who receives money at an account at Ningbo Commerce Bank without mistakes. The BIC identifies an institution, not a single account.

Choosing between the 2 SWIFT codes of Ningbo Commerce Bank

Ningbo Commerce Bank uses 2 different SWIFT/BIC codes across 2 locations. Only one is the head office code; the others identify branches, and sometimes internal departments.

For the vast majority of incoming transfers, the head office code BINHCN2NXXX is what you need. If you have been given a branch code, use it as it is rather than swapping it with the head office code.

If you are not sure, ask the person you are paying for the exact BIC in their bank details. Branch codes are more prone to be retired than BINHCN2NXXX when a bank merges or closes offices.

Watch out for payment fraud

Stay wary when a contact unexpectedly asks you to pay into another account abroad. That BINHCN2N is a real code is no guarantee that the account is genuine – fraudsters use real bank codes as well.

Verify new payment details through a separate channel, such as a phone number you already know, not by replying to the message. Pressure or secrecy tend to be warning signs. Already paid? Call the bank you paid from without delay and ask them to try to recall the payment.

Scams can also work the other way: someone sends too much and wants you to return the difference via a different route. Wait until the money is actually in your account and check with Ningbo Commerce Bank if anything seems off.

Sending CNY to Ningbo Commerce Bank

The national currency in China is the Chinese Yuan (CNY). Money sent in a different currency is exchanged into CNY – and the bank that does it picks the rate. Every conversion costs something, even when no fee is shown.

Who does the conversion affects how much arrives, as rates and margins differ per bank. Sending the money already in CNY often prevents a second conversion at the receiving end, provided the rate you get is fair.

The rate for CNY fluctuates throughout the day. With bigger transfers, even small gap in the rate adds up quickly.

How long does an international transfer to Ningbo Commerce Bank take?

How fast a payment arrives at Ningbo Commerce Bank depends on several factors: which currency you send, the number of banks in between, daily processing deadlines and differences in time zone. Payments made late in the day or just before weekends and holidays often go out the next business day. Sometimes a bank asks about the purpose of a payment before releasing it.

If a transfer seems late, ask the sending bank for the status so they can trace it along the chain. Money transfer services usually provide tracking in their app so you can see where the payment is.

The bank that sent the money can start an official trace; the receiving side usually has nothing to trace yet. On the receiving end, it helps to look at your account to see a slightly lower amount.

What a transfer from Ningbo Commerce Bank abroad really costs

What you pay for an international transfer is made up of more than one component, and the transfer fee is only the most visible one. You pay the fee for the transfer itself, sometimes charges from correspondent banks in between and, most importantly, the margin on the exchange rate.

Banks rarely show their exchange rate markup separately – you only notice it if you compare. A simple test: put the rate you get against the mid-market rate for the same moment and work out the difference on your amount.

For many currency pairs, a transfer service turns out to be cheaper than a bank. On GoldexPay you can compare the amount that arrives with different services, which makes the cheapest option easy to spot. Using a transfer service does not require closing your account at Ningbo Commerce Bank: you simply pay the service from your account.

Before you send: check the Ningbo Commerce Bank code

Ask the recipient to send you the account details straight from their banking app. Compare it against BINHCN2N on this page and ask if anything does not match.

Errors in the BIC are costly rather than disastrous. A mistake in the account number is a bigger problem, so check that just as carefully.

A validity check by your bank merely tells you that the IBAN exists – not that it belongs to the person you mean to pay. Some banks now check the name against the account; take any warning seriously. A small test payment is worth it for a large first payment.

A note on our data

We gather bank codes from public sources and check them regularly. Banks merge, change names and change codes. The number of codes we show reflect what is in our directory.

Treat the information on this page as a handy check and rely on the recipient or Ningbo Commerce Bank for the final confirmation. We are a comparison service for money transfers and not affiliated with Ningbo Commerce Bank. If you notice something that is out of date, we appreciate a short note via the contact page.

Getting paid from abroad into a Ningbo Commerce Bank account

If you are waiting for money from abroad, give the sender all details at once. That means: your full name as registered with Ningbo Commerce Bank, your account number or IBAN, the SWIFT/BIC code BINHCN2NXXX and, often, your postal address.

You can add the bank name and Ningbo too, since some forms ask for it. A typo in your account number can be harder to fix than it looks.

Do not be surprised if the amount credited is below the amount on the sender’s receipt. Correspondent banks can take a fee, Ningbo Commerce Bank may charge for incoming payments, and if the money is converted, an exchange rate margin comes on top. On invoices, you can state how the fees are split to avoid a shortfall.

What the XXX in BINHCN2NXXX means

The layout of a BIC is always the same: a bank code of four letters, two for the country and two for the location, sometimes followed by a branch code. For Ningbo Commerce Bank, the 8-character core is BINHCN2N.

Many banks and apps accept both lengths. If yours requires eleven characters, enter BINHCN2NXXX, otherwise BINHCN2N is fine.

Type the code as one block, in upper case and without separators. Watch for O versus 0 and the letter I and the digit 1; they are easy to mix up.