Small Industries Development Bank of India SWIFT/BIC code

Small Industries Development Bank of India SWIFT code: SIDBINBB

The short code SIDBINBB and the 11-character code SIDBINBBXXX identify the same bank: Small Industries Development Bank of India, with its head office in Mumbai. A SWIFT code tells the banks handling a payment exactly which bank should receive the money, much like a postcode for banks. It comes up mostly when dealing with transfers between countries or a currency.

Further down you will find the practical side: money coming in from abroad, paying someone in another country and how to check a SWIFT code before you hit send. The SWIFT code alone does not identify an individual account holder; that is what the account number or IBAN is for.

Tracking a transfer to or from Small Industries Development Bank of India

There is no single answer: some arrive within a day. Payments made late in the day or on weekends and holidays usually start a business day later. Sometimes a bank asks what the payment is for.

If the money seems late, ask the sending bank about the tracking status and the transaction reference; with that reference banks can see where the payment is. Money transfer services usually show a status online showing how far the money is.

Only the sending bank is able to start an official trace; the receiving side usually has nothing to trace yet. As a recipient, you can look at your account for a partial amount.

A note on our data

We gather bank codes from public sources and update our list from time to time. It can happen that a code on this page is out of date after a merger or reorganisation. Figures such as the number of codes are from our own dataset and may differ from what Small Industries Development Bank of India publishes.

Treat the information on this page as a handy check. We are an independent comparison service and not affiliated with Small Industries Development Bank of India. Found an error? Let us know via our contact form so we can correct it.

Indian Rupee (INR) and conversion costs

India uses the Indian Rupee, code INR. Money sent in a different currency is converted into INR, and whoever converts it chooses the rate. You rarely see a separate charge for that conversion.

Which bank converts the money makes a difference. Sending the amount directly in INR often prevents an extra conversion at the receiving end – as long as your own rate is good.

Exchange rates change during the day. With bigger transfers, even small gap in the rate adds up quickly.

Which of the 2 codes of Small Industries Development Bank of India do you need?

We have 2 SWIFT/BIC codes for Small Industries Development Bank of India, spread over 2 locations. Next to the head office code SIDBINBBXXX, there are codes for branches, departments or specific services.

For most incoming transfers, the head office code SIDBINBBXXX works fine. If you have been given a branch code, stick to it instead of replacing it with the head office code.

Unsure which code applies? Check with the recipient, or look at a recent statement from Small Industries Development Bank of India. Codes are sometimes changed or retired when banks reorganise.

Incoming international payments to Small Industries Development Bank of India

Someone abroad who wants to pay you needs several details from you. Give them your name as the bank knows it, the IBAN or account number, the BIC SIDBINBBXXX and your address.

It helps to add the bank name and Mumbai too. A typo in your account number can be harder to fix than you might think, so copy the details from your online banking.

An incoming payment will not always land for the full amount. Correspondent banks can take a fee, Small Industries Development Bank of India may charge for incoming payments, and if the currency changes, an exchange rate margin comes on top. On invoices, you can state who bears the costs to avoid a shortfall.

Changed bank details? Be careful

A common scam goes like this: an email arrives with a message claiming that a supplier now has new bank details and asking you to pay there from now on. That SIDBINBB is a real code does not mean that the account is genuine.

Verify new bank details through a separate channel, such as a phone number you already know, never via the email that asked for the change. Urgency and requests to keep it quiet tend to be red flags – a real supplier can wait a day. When a payment has already gone to the wrong account, call your bank right away: the sooner they act, the better the chance of a recall.

People receiving money are targeted too: a classic trick is an overpayment and then sends a request to refund the difference. Do not act before the money has really arrived and check with Small Industries Development Bank of India if anything seems off.

Sending money abroad from Small Industries Development Bank of India

If you transfer money to another country via Small Industries Development Bank of India, the visible fee is only part of the cost. On top of the transfer fee, banks in between may take a cut, and when currencies are converted, the bank usually uses a rate that is less favourable than the actual market rate.

Most of the cost usually sits in the exchange rate, rather than in the fee: many banks convert using an exchange rate that includes a margin. A simple test: put the bank’s rate next to the mid-market rate for the same moment and look at the difference.

Specialised transfer providers frequently use a rate near the mid-market rate. GoldexPay lists these services side by side, showing what actually arrives. You can still use your account at Small Industries Development Bank of India to fund the transfer; only the conversion and sending happen elsewhere.

Verifying the SWIFT code of Small Industries Development Bank of India

The best place to find the right code is a document from the bank itself like a bank statement or the account page in online banking. When the code you were given does not match SIDBINBB or SIDBINBBXXX, do not guess.

Errors in the SWIFT code are annoying rather than disastrous: often the payment comes back, minus fees. A mistake in the IBAN or account number can be more serious because it can reach the wrong person.

A format check by your bank only tells you that the code is valid. Where available, a payee name check before sending adds an extra layer of safety. A small test payment can be worth it for large sums, even if it costs an extra fee.

Why Small Industries Development Bank of India has an 8- and an 11-character code

Every SWIFT/BIC code has the same eight core characters: four letters for the bank, two letters for the country and a two-character location code. Together, these eight characters form SIDBINBB – the version you usually see online.

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

As a rule the code is written in capitals, without spaces or dashes. Watch for the letter O and the digit 0 and the letter I and the digit 1.