Central Bank of Iceland SWIFT/BIC code

What SISLISRE means for a payment to Central Bank of Iceland

SISLISRE and SISLISREXXX are two spellings of the same bank identifier, and both lead to Central Bank of Iceland in Reykjavik. A BIC has a single purpose: it ensures that a cross-border transfer ends up at the right bank. It comes up mostly when dealing with payments that cross a border or a currency.

On this page you will find how the code means, when it matters and what else you need for a transfer to or from Central Bank of Iceland. The SWIFT code alone does not identify an individual account holder; that is what the IBAN or account number .

Why Central Bank of Iceland has an 8- and an 11-character code

Every SWIFT/BIC code starts with the same eight core characters: four letters for the bank, two letters for the country and two characters for the location. That gives you SISLISRE, the short form of the code.

The full version adds three more characters for a branch or department. If the last three are XXX, the code points to the head office, so SISLISREXXX and SISLISRE are interchangeable.

Enter the code in one piece, in capitals and without spaces, exactly as shown here. A wrong character may route a payment to another bank, so copy it carefully.

How up to date is this code?

The codes on this page come from publicly available data. Even so, banks merge, rename themselves or change codes. Figures such as the number of codes come from our directory and may differ from what Central Bank of Iceland publishes.

Treat our directory on this page as a helpful check, and let the details from the recipient or Central Bank of Iceland have the final say. We are an independent comparison site and not part of Central Bank of Iceland. If you notice something that is out of date, we appreciate a short note.

How long does an international transfer to Central Bank of Iceland take?

How quickly a payment arrives at Central Bank of Iceland is determined by a few things: the currency, the number of banks in between, cut-off times and time zones. Bank holidays in either country can add extra days to the journey. Compliance checks on larger or unusual payments may also add a delay.

Many banks use SWIFT gpi. Each payment gets a unique transaction reference, the UETR that banks can use to trace it. Specialist transfer services usually show a status online so you can see where the money has got.

If a payment has not arrived after a few business days, the person who paid should contact their own bank rather than Central Bank of Iceland. Request from the sender a copy of the payment confirmation with the date and reference; that often settles the question quickly.

SEPA payments and the Central Bank of Iceland BIC

Iceland belongs to the SEPA area, where euro transfers follow common rules. When you send euros from another SEPA country, the IBAN is usually enough; many banks no longer ask for the BIC.

For anything other than euros and from non-SEPA countries, SISLISREXXX is still required. If your banking app asks for the BIC regardless, entering SISLISRE is fine.

Instant euro transfers are widely available within SEPA. Charges on SEPA payments tend to be low as long as everything stays in euros.

Getting paid from abroad into a Central Bank of Iceland account

If you are waiting for a payment from another country, send the payer all details at once. What they need is: the account holder’s name, account number or IBAN, SISLISREXXX or SISLISRE and, for some countries, your home address.

Some banks want the bank’s address in Reykjavik. A typo in the IBAN is more trouble than it looks.

The amount you receive can be less than what was sent. Charges on incoming payments differ per bank. Agree with the sender who pays which costs, especially for larger amounts.

Sending money abroad from Central Bank of Iceland

When you transfer money abroad from Central Bank of Iceland, the visible fee is only part of what you pay. Besides the transfer fee, banks in between may deduct a fee, and if the money changes currency, the bank often applies a rate below the actual market rate.

Banks do not list their exchange rate markup separately. An easy check: set the bank’s rate next to the mid-market rate for the same moment and look at the difference.

For a lot of routes, a specialist provider turns out to be cheaper than a traditional bank transfer, mainly because of the exchange rate. Next time you send money, it is worth to compare the total cost on GoldexPay instead of going straight to your bank. You can still use your account at Central Bank of Iceland to fund the transfer.

Changed bank details? Be careful

Stay wary if someone unexpectedly asks you to pay into a different account. A valid SWIFT code tells you nothing about who owns the account.

Do not rely on contact details in the same message that announces the new account. Be suspicious of time pressure, odd spelling or an email address that differs by one letter. If money was sent to a fraudster, call your bank right away.

Fraud can also work the other way: someone claims to have sent more than agreed and asks you to refund the difference to a new account. A payment confirmation from the sender proves nothing – check your own account.

Which of the 3 codes of Central Bank of Iceland do you need?

Central Bank of Iceland has 3 different SWIFT/BIC codes. Only one is the head office code, SISLISREXXX; the rest identify branches or departments.

In most cases there is no need to pick a branch: transfers addressed to SISLISREXXX reach Central Bank of Iceland without problems. Just use a branch code when the recipient gives you that exact code, for example on a letter or invoice.

The best way is to copy the code directly from the recipient’s invoice. Codes can change when banks reorganise, so do not rely on old paperwork.

Verifying the SWIFT code of Central Bank of Iceland

Ask the recipient to send you the bank details directly from their banking app. When the code you were given differs from SISLISRE or SISLISREXXX, do not guess: check with the recipient or with Central Bank of Iceland directly.

A wrong SWIFT code may lead to delays, a returned payment or additional charges. Do not forget the IBAN: an error there is more difficult to correct than a wrong code.

Many banking apps validate the format 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 gives extra certainty. For a first payment, some people send a small test amount and wait for confirmation.