Axis Bank LTD(Formerly Uti Bank LTD) SWIFT/BIC code

SWIFT/BIC code of Axis Bank LTD(Formerly Uti Bank LTD)

UTIBINB1 and UTIBINB1XXX are the short and the long form of the same bank identifier, and both lead to Axis Bank LTD(Formerly Uti Bank LTD) in Mumbai. A SWIFT code shows the sending bank which institution is meant to get the money, a bit like a postal address for banks. It comes up mostly for payments that cross a border or a currency.

This page is meant to help people who sends money to an account at Axis Bank LTD(Formerly Uti Bank LTD). The SWIFT code on its own does not identify a personal account; for that you need the IBAN or account number is for.

What the XXX in UTIBINB1XXX means

The layout of every SWIFT code never changes: a bank code of four letters, a two-letter country code and two for the location. Together, those parts make up UTIBINB1 – the version you usually see online.

The 11-character version adds three more characters for a branch or department. When those three characters are XXX, they simply mean the head office.

Do not add spaces or dashes when you enter UTIBINB1. A wrong character may route a payment to a different institution.

Where our SWIFT data comes from

The details here are taken from publicly available data. Banks merge, change names and retire codes. The number of codes on this page reflect what is in our directory and not on information from Axis Bank LTD(Formerly Uti Bank LTD) itself.

See our directory on this page as a helpful check, and let the details from the recipient or Axis Bank LTD(Formerly Uti Bank LTD) have the final say. GoldexPay is an independent comparison site for money transfers and not affiliated with Axis Bank LTD(Formerly Uti Bank LTD). Should you notice a mistake, we appreciate a short note via the contact page.

Sending money abroad from Axis Bank LTD(Formerly Uti Bank LTD)

When you transfer money abroad via Axis Bank LTD(Formerly Uti Bank LTD), the visible fee is rarely all of what you pay. There is the transfer fee, sometimes fees charged by intermediary banks in between and, above all, the margin on the exchange rate when the money is converted.

The markup on the rate tends to be the largest cost, and it is easy to miss. A simple test: put the bank’s rate next to the mid-market rate for the same moment and work out the difference on your amount.

For a lot of currency pairs, a transfer service turns out to be cheaper than a bank. GoldexPay lists these services side by side, showing the amount the recipient gets. You can always use your account at Axis Bank LTD(Formerly Uti Bank LTD) to fund the transfer, while a cheaper service handles the conversion.

Is UTIBINB1 still correct? How to check

The most reliable place for the right code is paperwork issued by the bank like a bank statement or the account page in online banking. Compare that code against UTIBINB1 on this page and ask if anything does not match.

Mistakes in the SWIFT code are costly rather than disastrous – usually the money comes back, minus fees and time lost. Remember the IBAN: a mistake there is harder to correct than a wrong BIC.

A validity check by your bank only confirms that the IBAN exists. If your bank offers it, a name check before sending adds extra certainty. When you pay someone new, some people start with a small amount first and wait for confirmation.

Receiving money from abroad at Axis Bank LTD(Formerly Uti Bank LTD)

For an international payment into your account at Axis Bank LTD(Formerly Uti Bank LTD), the sender needs not just the BIC. That means: your full name exactly as it appears on the account, your account number or IBAN, the BIC UTIBINB1XXX (or UTIBINB1) and, often, your postal address.

Certain banks want the bank’s address, so keep it at hand. A typo in your account number is harder to fix than you might think.

Do not be surprised if the incoming amount is smaller than the amount on the sender’s receipt. Charges on incoming payments vary per bank; check the price list of Axis Bank LTD(Formerly Uti Bank LTD). Make clear with the sender who covers the fees before the money is sent.

Scams that use SWIFT codes

Be wary if someone unexpectedly wants you to send money to another account abroad. The fact that UTIBINB1 exists is no guarantee that a request mentioning it is legitimate.

Check changed payment details via a separate channel, such as a phone number you already know. Be suspicious of time pressure, unusual wording or an email address that differs by one letter. Already paid? Call your bank straight away and ask them to try to recall the payment; also report it to the police.

Recipients are targeted too: one known trick is a buyer who pays too much and then sends a request to refund the difference abroad. Do not act before the money has really arrived – ask Axis Bank LTD(Formerly Uti Bank LTD) if something looks wrong.

Choosing between the 77 SWIFT codes of Axis Bank LTD(Formerly Uti Bank LTD)

With 77 codes in 57 cities, Axis Bank LTD(Formerly Uti Bank LTD) belongs to the banks that register separate codes for branches and departments. The main code is UTIBINB1XXX.

Usually there is no need to look up a branch: payments addressed to UTIBINB1XXX reach Axis Bank LTD(Formerly Uti Bank LTD) without problems. When you receive a branch code, use it as it is instead of swapping it with the head office code.

The best way is to take the code directly from the recipient’s invoice. Branch codes are more likely to be retired than the head office code.

How long does an international transfer to Axis Bank LTD(Formerly Uti Bank LTD) take?

How fast a transfer reaches Axis Bank LTD(Formerly Uti Bank LTD) is determined by a few things: the currency, the number of banks in between, cut-off times and differences in time zone. Bank holidays in either country can add extra days, since banks do not process on those days. Compliance checks by one of the banks may also add some delay.

A growing number of banks are connected to SWIFT gpi. Each gpi transfer gets a unique reference, the UETR. Save your transfer receipt until the money has arrived – you will need it for any trace request.

Only the sending bank can request a trace or a recall; the receiving side usually has nothing to trace yet. On the receiving end, you can look at your account for a partial amount, since fees may have been deducted.

Indian Rupee (INR) and conversion costs

India uses the Indian Rupee, with the currency code INR. If you send another currency it has to be converted somewhere along the way: by your bank, an intermediary or Axis Bank LTD(Formerly Uti Bank LTD) itself. There is rarely a separate charge for the conversion – the cost sits in the rate.

Which bank converts the payment matters. Check what INR arrives with several providers.

Exchange rates move all the time, and some providers let you lock in a rate. On larger amounts, even small difference in the rate can be worth more than the fee.