Progreso Corporacion Financiera S.A. SWIFT/BIC code

CFPRCOB1 – the SWIFT/BIC code of Progreso Corporacion Financiera S.A.

The short code CFPRCOB1 and the full code CFPRCOB1XXX refer to one and the same institution: Progreso Corporacion Financiera S.A. in Bogota, Colombia. A SWIFT code shows the sending bank which institution should receive the money. You will need it mostly for transfers between countries or a currency.

On this page you will find what the code means, when it matters and which other details you need for a transfer to or from Progreso Corporacion Financiera S.A.. Remember that the BIC just identifies the bank, not the person: the IBAN or account number does that part.

Which of the 2 codes of Progreso Corporacion Financiera S.A. do you need?

Progreso Corporacion Financiera S.A. has 2 different SWIFT/BIC codes. Only one is the head office code; the others identify branches, and sometimes internal departments.

Unless the recipient tells you otherwise, use CFPRCOB1XXX. Branch codes are only needed when the account holder explicitly mentions it.

Not sure which code applies? Check with the recipient. Codes can change over time.

How up to date is this code?

The directory on GoldexPay is based on public sources and is updated regularly. It is possible that a code here is no longer current after a merger or reorganisation. Figures such as the number of codes come from our directory and are not confirmed by Progreso Corporacion Financiera S.A..

Before a payment that matters, confirm the BIC with Progreso Corporacion Financiera S.A. or the recipient. GoldexPay is a comparison service and not part of Progreso Corporacion Financiera S.A.. Spotted an error? Let us know via our contact form so we can correct it.

How to check CFPRCOB1 before you pay

Have the recipient copy the bank details straight from their banking app. Compare it against CFPRCOB1 on this page.

An incorrect BIC can cause a delay, a returned payment or additional charges. Remember the account number: a mistake there is harder to undo than a wrong code.

Most online banking apps validate the structure of IBANs and some suggest the matching BIC, but that does not prove the account belongs to the right person. If your bank offers it, a name check before sending gives an extra layer of safety. Sending a small amount first can be a sensible step for a large first payment, even if it costs an extra fee.

When will the money arrive at Progreso Corporacion Financiera S.A.?

A SWIFT payment typically takes one to a few business days. Bank holidays in the sending or receiving country add extra days. Sometimes a bank asks what the payment is for.

If the money is late, ask your bank for the tracking status and the transaction reference so they can trace it along the chain. Keep the payment confirmation; it contains the details a bank needs to start a trace.

The bank that sent the money is able to request a trace or a recall; the receiving side usually has nothing to trace yet. Request from the sender the payment receipt including the reference; that often settles the question quickly.

8 or 11 characters: CFPRCOB1 versus CFPRCOB1XXX

The structure of a BIC never changes: a bank code of four letters, two for the country and a two-character location code. In this case, the 8-character core is CFPRCOB1.

The full version adds a three-character extension for a branch or department. If the last three are XXX, they simply mean the head office, which is why CFPRCOB1XXX and CFPRCOB1 lead to the same place.

In practice the code is typed in capitals. Look out for the letter O and the digit 0 and the letter I and the digit 1; they are easy to mix up.

Incoming international payments to Progreso Corporacion Financiera S.A.

Someone abroad who wants to pay you will ask for a few details about your account, and missing ones are a common cause of delays. Give them your name as the bank knows it, your account number or IBAN, the BIC CFPRCOB1XXX and your address.

Some sending banks also ask for the bank’s address, so keep it at hand. Double-check the details before you share them – a sender rarely spots a mistake in someone else’s details.

An incoming payment will not always arrive for the full amount. Fees for incoming transfers differ from bank to bank – the price list of Progreso Corporacion Financiera S.A. tells you what applies. On invoices, you can agree how the fees are split.

Sending money abroad from Progreso Corporacion Financiera S.A.

A bank transfer abroad costs rather more than the listed fee. Besides a fixed fee, correspondent or intermediary banks can deduct a fee, and when the money changes currency the bank usually uses a rate that is less favourable than the actual market rate.

Banks rarely show the margin on the rate separately. An easy check: set the rate you get next to the mid-market rate for the same moment and look at the difference.

For a lot of currency pairs, a transfer service turns out to be less expensive than a traditional bank transfer. 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 Progreso Corporacion Financiera S.A.: you simply pay the service from your account.

Scams that use SWIFT codes

Be alert if someone unexpectedly asks you to send money to another account. A correct SWIFT code says nothing about whether the request is genuine – scammers simply use real codes.

Always verify changed bank details by phone, using a number you already had. Be suspicious of time pressure, odd spelling or a sender address that is slightly off. Already paid? Contact the bank you paid from without delay and ask them to try to recall the payment; also report it to the police.

Scams also work the other way. Someone sends more than agreed and wants you to refund the difference. Wait until the money is actually in your account and check with Progreso Corporacion Financiera S.A. if anything seems off.