Benares State Bank LTD., The SWIFT/BIC code

Benares State Bank LTD., The SWIFT code: BENAIN21

BENAIN21 and BENAIN21XXX are the short and the long form of the same SWIFT/BIC code, and both lead to Benares State Bank LTD., The in Varanasi. A BIC has a single purpose: it ensures that money from abroad reaches the right bank. In practice you usually come across the code on invoices from abroad, in your banking app and in the bank details of Benares State Bank LTD., The customers.

Below we go through the practical side: money coming in from abroad, paying someone in another country and how to check the code before you hit send. Remember that the BIC only identifies the bank, not the person: the IBAN or account number takes care of that.

When will the money arrive at Benares State Bank LTD., The?

An international transfer usually takes anywhere from one to several business days – it depends on currency, route and the banks in between. Bank holidays in either country can add a day or more. Compliance checks by one of the banks may also add a delay, even when all details are correct.

When a payment takes longer than expected, contact the sending bank for the tracking status or the UETR so they can trace it along the chain. Money transfer services often show tracking in their app so you can see how far the money has got.

If the money does not arrive after a few business days, the person who paid needs to start with their own bank, not the receiving bank. Request from the sender the payment receipt with the date and reference; that often settles the question quickly.

Which of the 2 codes of Benares State Bank LTD., The do you need?

Our database contains 2 SWIFT/BIC codes for Benares State Bank LTD., The, spread over 2 locations. Besides the head office code BENAIN21XXX, you will find codes for branches, departments or specific services.

Usually there is no need to look up a branch: payments addressed to BENAIN21XXX reach Benares State Bank LTD., The without problems. Branch codes are only needed when the account holder specifically mentions it, which is more common for business accounts and trade services.

If you are not sure, check with the recipient for the exact BIC in their bank details. Branch codes can change when banks reorganise, so do not rely on old paperwork.

Indian Rupee (INR) and conversion costs

India uses the Indian Rupee (INR). A payment in a foreign currency will be exchanged into INR before it reaches the account, and whoever converts it chooses the rate. You rarely see a separate charge for that conversion; it is built into the rate.

Who does the conversion has an effect on how much arrives, as rates and margins differ per bank. Transferring the money already in INR often avoids an extra conversion by Benares State Bank LTD., The, provided the rate you get is fair.

The INR rate changes constantly and quotes are often valid only for a short time. For regular payments, a slightly better rate add up over time.

What a transfer from Benares State Bank LTD., The abroad really costs

When you transfer money to another country from Benares State Bank LTD., The, the fee you see is rarely all of the cost. Besides a fixed fee, banks in between can deduct a fee, and if currencies are converted, the bank usually uses a rate below the real market rate.

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

Specialist money transfer services often offer a rate near the mid-market rate. Before your next transfer, it is worth to compare the total cost via GoldexPay instead of going straight to your bank. Using a transfer service does not mean closing your account at Benares State Bank LTD., The – you pay the provider from your own account.

Receiving money from abroad at Benares State Bank LTD., The

For an international payment into your account at Benares State Bank LTD., The, the person paying you has to have more than the BIC. Share the account holder’s name, the IBAN or account number, SWIFT code BENAIN21XXX and your address.

The sender’s bank might also ask for the address of your bank; the head office in Varanasi is usually fine. Check each detail before you share them – a sender rarely spots a mistake in someone else’s details.

Money from abroad will not always land for the full amount. Correspondent banks can take a fee, Benares State Bank LTD., The may charge for incoming payments, and when currencies differ, an exchange rate margin applies. On invoices, it is common to state how the fees are split.

Why Benares State Bank LTD., The has an 8- and an 11-character code

Each SWIFT/BIC code has the same eight core characters: four letters for the bank, two letters for the country and two characters for the location. Together, these eight characters form BENAIN21, the code most people search for.

XXX at the end of BENAIN21XXX is not a placeholder or an error: it stands for the main office of Benares State Bank LTD., The. Some banking apps ask for 11 characters, and then you simply enter XXX behind BENAIN21.

Do not add spaces or dashes when you enter BENAIN21 or BENAIN21XXX. Copying the code beats retyping it, because one wrong letter changes the bank.

Is BENAIN21 still correct? How to check

The best place to find the correct BIC is a document from the bank itself like a bank statement or the account page in online banking. When the code you were given differs from BENAIN21 or BENAIN21XXX, stop and ask.

Mistakes in the SWIFT code tend to be costly rather than fatal. Do not forget the account number: a mistake there is more difficult to correct than a wrong BIC.

Many banking apps validate the format of an IBAN and sometimes look up the BIC automatically – that confirms the format, not the owner. If your bank offers it, a name check on the recipient gives an extra layer of safety. A small test payment can be worth it for a large first payment despite the extra fee.

How up to date is this code?

Our SWIFT/BIC directory is based on public sources. Still, banks merge, rename themselves or change codes and our data may lag behind. The number of codes on this page are based on what is in our directory and not on information from Benares State Bank LTD., The itself.

For any payment of any size, confirm the code with Benares State Bank LTD., The or the recipient. GoldexPay is a comparison service and not affiliated with Benares State Bank LTD., The. Should you notice something that is out of date, we welcome a message via the contact page.

Watch out for payment fraud

A common scam goes like this: you receive a request claiming that a supplier now has a new bank account and asking you to pay there from now on. A valid 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 urgent requests, unusual wording or a sender address that is slightly off. When a payment was sent to a fraudster, contact your bank immediately.

Fraud also work the other way: someone sends too much and wants you to refund the difference. Do not act before the money has really arrived and check with Benares State Bank LTD., The if anything seems off.