SWIFT/BIC codes in China: banks starting with V

SWIFT/BIC codes in China

Our directory contains 668 banks and other institutions in China and 2652 SWIFT/BIC codes between them. A SWIFT code tells the banks handling a transfer exactly which bank is meant to get the money.

Look for the bank you need in the list and click through to see the full list of codes and the details a transfer needs. Further down we explain how a code from China is put together, how to send money to China without overpaying and how to check a code before you pay.

Recognising a SWIFT code from China

SWIFT/BIC codes use the same format worldwide: 8 characters plus an optional three-character extension. First comes four letters for the bank, followed by a two-letter country code and a two-character location code.

No matter which bank, every code from China have the same country code in positions five and six. If the country letters point to another country, you are looking at a bank somewhere else, so check again.

If the last three are XXX, it refers to the head office. For most transfers the head office code is fine, unless the recipient gives you a branch code.

Paying in CNY: what conversion costs you

The currency in China is the Chinese Yuan (CNY). When you pay another currency, it has to be converted somewhere along the way – by your bank, a bank in between or the recipient’s bank.

Where the conversion happens affects how much arrives, since every bank sets its own rate. In many cases it is cheaper if you send CNY directly via a provider that converts near the mid-market rate. With bigger transfers, a seemingly small gap in the rate adds up quickly.

Getting paid from abroad into an account in China

To receive a transfer from abroad in China, the sender needs not just the SWIFT code. In practice that means: your full name exactly as it appears on the account, your account number or IBAN, the BIC of your bank and usually your address.

The code of your bank is in the list on this page. Some sending banks also ask for the name and address of your bank.

Expect that the incoming amount is smaller than the amount on the sender’s receipt. Intermediary banks may deduct a fee, and if the money is converted, an exchange rate margin comes on top. For business payments, state who bears the costs, so nobody is left short.

Filter: banks in China with :letter

This page only shows banks in China whose name starts with :letter, sorted alphabetically. The totals mentioned here apply to all 668 banks.

If the bank you need does not appear here, try the full list. Try the full list for China if you do not know how the name is spelled.

Verifying a SWIFT code from China

The most reliable place for the correct BIC is paperwork issued by the bank. An incorrect BIC can cause a delay, a returned payment or additional charges.

The directory on GoldexPay is compiled from public sources. Institutions reorganise, change names and change codes. For a payment of any size, confirm the BIC with the recipient’s bank. GoldexPay is a comparison site for money transfers and not part of any bank listed here.

Fraudsters often send fake invoices carrying changed bank details. A valid BIC tells you nothing about who owns the account – scammers use the codes of real banks.

When does money sent to China arrive?

A SWIFT payment to China typically takes one to a few business days – it depends on currency, route and the banks in between. Payments made late in the day or on a weekend or public holiday often go out a business day later.

When a payment takes longer than expected, the sender should contact their own bank and ask for the status or the UETR – the receiving bank often cannot see a payment that has not arrived. Keep the payment confirmation until the recipient confirms – you will need it if something goes wrong.

Bank of Communications and its SWIFT codes

Of all banks in China, Bank of Communications has the most SWIFT codes. The head office of Bank of Communications has COMMCNSHXXX 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. Unless the recipient asks for a branch, COMMCNSHXXX is fine for transfers to this bank.

International payments to China and the BIC

China is outside the SEPA area, the European zone for uniform euro payments. Payments from abroad usually travel through the SWIFT network – which is why you need the BIC of the recipient’s bank.

Not all countries use IBAN numbers. The recipient’s bank usually has a list of required details for incoming international payments, and it is worth following them to the letter. Before it arrives, a payment can pass through intermediary banks that take a fee.

What a transfer to China really costs

An international bank payment to China often costs rather more than the fee suggests. On top of the fee, correspondent banks can take a cut, and when the money is converted the bank often uses a less favourable rate than the actual market rate.

That exchange rate margin is often the largest part of the cost, even though it is not listed as a fee. Check the bank’s rate with the mid-market rate, the midpoint you see on financial news sites.

For a lot of currency pairs, a transfer service turns out to be less expensive than a bank – mostly thanks to the exchange rate. GoldexPay lists these providers next to each other, showing the amount that reaches the recipient before you commit.