Bank of Maharashtra SWIFT/BIC code

What MAHBINBB means for a payment to Bank of Maharashtra

MAHBINBB and MAHBINBBXXX are two ways of writing the same bank identifier, and both lead to Bank of Maharashtra in Mumbai. A SWIFT code tells the banks handling a payment exactly which bank should receive the money, much like a postcode for banks. In practice you mostly come across it on international invoices, in your banking app and on the account details that Bank of Maharashtra provides.

Further down we go through the practical side: receiving money at Bank of Maharashtra, sending money abroad and how to verify the code before you hit send. The BIC names a bank or branch, not a single account, which is why you always need the account number too.

What the XXX in MAHBINBBXXX means

A SWIFT code is built from fixed blocks: the first four letters stand for the bank, the next two give the country and the two after that indicate the location. For Bank of Maharashtra, that core is MAHBINBB.

Most banks and apps work with both lengths. If a form asks for eleven characters, enter MAHBINBBXXX, otherwise MAHBINBB is fine.

In practice the code is written in capitals. Pasting the code is safer than typing it by hand, because one wrong letter changes the bank.

Choosing between the 39 SWIFT codes of Bank of Maharashtra

Bank of Maharashtra uses 39 separate SWIFT/BIC codes. One of them is the head office code, MAHBINBBXXX; the rest belong to branches or departments, and sometimes specific services.

For most incoming transfers, the head office code MAHBINBBXXX works fine. Just use a branch code when the recipient explicitly asks for it.

The safest approach is to copy the code directly from the recipient’s invoice. Branch codes are more prone to be retired than the head office code.

A note on our data

We gather bank codes from publicly available data and update them regularly. It can happen that a code on this page is out of date, for example after a merger. The number of codes on this page are based on what is in our directory and not on information from Bank of Maharashtra itself.

See the information here as a handy check and rely on the recipient or Bank of Maharashtra for the final confirmation. GoldexPay is an independent comparison service and not part of Bank of Maharashtra. Found an error? Tell us via our contact form and we will look into it.

Scams that use SWIFT codes

A common scam works like this: you receive a request saying that a contact now has a new bank account. A real SWIFT code tells you nothing about whether the request is genuine: scammers use real codes of real banks.

Verify new bank details via a separate channel like a call to a number from an earlier contract, not by replying to the message. Urgency and secrecy tend to be red flags; a genuine business can wait for you to check. Acted too fast? Call your bank without delay and have them start a recall.

People receiving money can be targeted as well: one known trick is an overpayment followed by a request to refund the difference. Do not act before the money has really arrived and check with Bank of Maharashtra if anything seems off.

Sending INR to Bank of Maharashtra

The currency in India is the Indian Rupee (INR). A payment in a foreign currency is converted into INR on its way to Bank of Maharashtra, and whoever converts it chooses the rate. There is rarely a separate line for the conversion.

Who does the conversion affects the final amount. Transferring the money already in INR often avoids a second conversion at the receiving end.

The INR rate fluctuates constantly and quotes are often valid only for a short time. If you pay regularly, small differences in the rate make a real difference over time.

Incoming international payments to Bank of Maharashtra

To receive a transfer from abroad into your account at Bank of Maharashtra, the person paying you has to have not just the SWIFT code. The basics are: your name, IBAN or account number, MAHBINBBXXX and, for some countries, your home address.

Their bank may request the bank address of Bank of Maharashtra. Double-check each detail before you share them – a sender rarely spots a mistake in someone else’s details.

The amount you receive is often less than what was sent. Intermediary banks may deduct a fee, and when currencies differ, an exchange rate margin applies. Agree with the sender who pays which costs, especially for larger amounts.

Is MAHBINBB still correct? How to check

Have the recipient send you the account details directly from their banking app. Check that code with MAHBINBB on this page.

Errors in the BIC are costly more than disastrous: often the payment comes back, minus fees. Remember the IBAN: a mistake there is more difficult to correct than a wrong BIC.

Most online banking apps validate the structure of IBANs – that confirms the format, not the owner. Some banks now compare the name with the account before you confirm; take any warning seriously. Sending a small amount first is a sensible step for a large first payment despite the extra fee.

When will the money arrive at Bank of Maharashtra?

How quickly a transfer reaches Bank of Maharashtra depends on several factors: the currency, how many intermediary banks are involved, daily processing deadlines and time zones. Weekends and public holidays in the sending or receiving country can add a day or more. Extra checks on larger or unusual payments can also add a delay.

If the money is late, contact your bank for the tracking status so they can trace it along the chain. Specialist transfer services often provide tracking in their app so you can see where the money is.

If a payment has not arrived within the expected time, the person who paid should contact the bank that sent it rather than Bank of Maharashtra. As a recipient, you can check your account for a slightly lower amount.

Sending money abroad from Bank of Maharashtra

An international bank payment can cost more than the listed fee. You pay the fee for the transfer itself, possibly fees charged by intermediary banks along the way and, above all, the exchange rate markup if the currency changes.

Most of the cost usually sits in the exchange rate: the bank converts at a rate that includes a margin. Compare the rate you are offered with the mid-market rate, the midpoint between buy and sell rates you see on financial sites.

For a lot of routes, a specialist provider is less expensive than a bank – mostly thanks to the rate. Before your next transfer, it is worth to compare what arrives on GoldexPay rather than accepting the bank’s rate by default. You can always keep your account at Bank of Maharashtra as the source of the money, while a cheaper service handles the conversion.