Cooperativa de Ahorro y Credito '29 de Octubre' Ltda SWIFT/BIC code

COOCECE1 – the SWIFT/BIC code of Cooperativa de Ahorro y Credito '29 de Octubre' Ltda

The 8-character code COOCECE1 and the 11-character code COOCECE1XXX refer to the same bank: Cooperativa de Ahorro y Credito '29 de Octubre' Ltda, with its head office in Quito. A SWIFT code shows every bank in the chain exactly which bank is meant to get the money, much like a postcode for banks. You will need it mostly for transfers between countries and payments in foreign currencies.

On this page we explain what the code means, when you need it and what else you need for a transfer to or from Cooperativa de Ahorro y Credito '29 de Octubre' Ltda. The BIC names a bank or branch, never a specific account.

What to give a sender who pays you at Cooperativa de Ahorro y Credito '29 de Octubre' Ltda

To receive a transfer from abroad into your account at Cooperativa de Ahorro y Credito '29 de Octubre' Ltda, the person paying you needs not just the BIC. The basics are: your name, IBAN or account number, COOCECE1XXX or COOCECE1 and often your home address.

You can add Cooperativa de Ahorro y Credito '29 de Octubre' Ltda and Quito too, because some payment forms have separate fields for them. A typo in the IBAN can be more trouble than it looks; copy them from your banking app rather than typing.

Money from abroad will not always arrive for the full amount. Correspondent banks can take a fee, Cooperativa de Ahorro y Credito '29 de Octubre' Ltda may charge for incoming payments, and if the currency changes, an exchange rate margin applies. On invoices, you can state who bears the costs, so that nobody is left short.

US Dollar (USD) and conversion costs

Ecuador pays in the US Dollar (USD). If you send another currency, the amount gets converted somewhere along the way. Each conversion eats into the amount.

Who does the conversion affects how much arrives, as rates and margins differ per bank. Transferring the money already in USD often prevents a second conversion by Cooperativa de Ahorro y Credito '29 de Octubre' Ltda.

The USD rate fluctuates throughout the day and quotes are often valid only for a short time. For recurring payments, small differences in the rate make a real difference over a year.

Choosing between the 6 SWIFT codes of Cooperativa de Ahorro y Credito '29 de Octubre' Ltda

Cooperativa de Ahorro y Credito '29 de Octubre' Ltda has 6 separate SWIFT/BIC codes. Only one is the head office code, COOCECE1XXX; the others belong to branches, and sometimes specific services.

Unless the recipient tells you otherwise, go with COOCECE1XXX or its short form COOCECE1. When you receive a branch code, stick to it instead of swapping it with the head office code.

The safest route is to take the code directly from the recipient’s statement. Branch codes are more prone to be retired than the head office code.

Where our SWIFT data comes from

The codes on this page come from publicly available data which we refresh regularly. Institutions merge, close branches and retire codes, and a directory never catches every change immediately. Counts and locations come from our directory.

Use this page as a starting point, rather than as the final word – the bank details from the recipient are leading. GoldexPay has no connection to Cooperativa de Ahorro y Credito '29 de Octubre' Ltda, we only compare transfer services. If you notice something that is out of date, we appreciate a message.

Why Cooperativa de Ahorro y Credito '29 de Octubre' Ltda has an 8- and an 11-character code

A BIC is built from fixed blocks: characters one to four identify the bank, the next two show the country and characters seven and eight mark the location. The result is COOCECE1 for Cooperativa de Ahorro y Credito '29 de Octubre' Ltda.

Many banks and apps work with either length. If a form requires eleven characters, use COOCECE1XXX, otherwise COOCECE1 is fine.

Do not add spaces or dashes when you enter COOCECE1; the code is always written in one block. Look out for O versus 0 and the letter I and the digit 1.

Verifying the SWIFT code of Cooperativa de Ahorro y Credito '29 de Octubre' Ltda

The most reliable source for the BIC is the bank details provided by the recipient – an invoice, a statement or a screenshot from online banking. Check that code with COOCECE1 on this page; if they differ, ask before you pay.

A wrong SWIFT code can cause delays, a returned payment or extra fees. Do not forget the account number: an error there is harder to undo than a wrong BIC.

Many banking apps validate the structure of an IBAN and some suggest the matching BIC, but that does not prove the account belongs to the right person. Where available, a payee name check before sending adds extra certainty. A small test payment is worth it for large sums, even if it costs an extra fee.

How long does an international transfer to Cooperativa de Ahorro y Credito '29 de Octubre' Ltda take?

How quickly a transfer arrives at Cooperativa de Ahorro y Credito '29 de Octubre' Ltda is determined by a few things: the currency, how many intermediary banks are involved, daily processing deadlines and time zones. Transfers sent late in the day or just before a weekend or public holiday usually start a business day later. Extra checks by one of the banks may also cause some delay, even when all details are correct.

When a payment takes longer than expected, ask your bank for the status; with that reference banks can see where the payment is. Keep the payment confirmation until the money has arrived.

A delayed transfer has to be investigated from the sending side, using the payment confirmation. Ask the sender for a copy of the payment confirmation with the date and reference; that often settles the question quickly.

Protect yourself against fake payment requests

Scammers regularly use payment requests with changed bank details sent from what looks like a familiar address. A correct SWIFT code tells you nothing about whether the request is genuine – scammers simply use real codes.

Always verify a change of bank details by phone, using a number you already had. Be suspicious of time pressure, unusual wording or a sender address that is slightly off. If money was sent to a fraudster, contact your bank immediately.

Fraud can also work the other way. Someone sends too much and asks you to refund the extra. A payment confirmation from the sender is no proof – check your own account.

International transfers from Cooperativa de Ahorro y Credito '29 de Octubre' Ltda: the real cost

An international bank payment can cost rather more than the listed fee. There is the transfer fee, possibly fees charged by intermediary banks along the way and, most importantly, the margin on the exchange rate when the money is converted.

The markup on the rate tends to be the largest item because it is hidden in the rate. A simple test: put the bank’s rate next to the mid-market rate and look at the difference.

Money transfer services often offer a rate near the mid-market rate with clearer fees. Next time you send money, it is worth to compare what arrives via GoldexPay. Using a transfer service does not require leaving Cooperativa de Ahorro y Credito '29 de Octubre' Ltda: you simply pay the service from your account.