The Saraswat Co-Operative Bank LTD. SWIFT/BIC code

What SRCBINBB means for a payment to The Saraswat Co-Operative Bank LTD.

The 8-character code SRCBINBB and the 11-character code SRCBINBBXXX identify one and the same institution: The Saraswat Co-Operative Bank LTD., with its head office in Mumbai. A SWIFT code shows the banks handling a payment which institution is meant to get the money, much like a postcode for banks. In daily life you usually come across it on invoices from abroad, in payment forms and on the account details that The Saraswat Co-Operative Bank LTD. provides.

Further down we go through the practical side: money coming in from abroad, sending money abroad and how to check the code before you hit send. The BIC identifies a bank or branch, not a single account.

8 or 11 characters: SRCBINBB versus SRCBINBBXXX

Each SWIFT/BIC code has the same eight core characters: a four-letter bank code, a two-letter country code and a two-character location code. That gives you SRCBINBB, the short form of the code.

The full version adds a three-character extension that identify a branch or department. When those three characters are XXX, the code points to the head office, so SRCBINBBXXX and SRCBINBB are interchangeable.

In practice the code is typed in capitals and without spaces. Copying the code beats retyping it.

Getting paid from abroad into a The Saraswat Co-Operative Bank LTD. account

If you expect a payment from another country, send the payer everything they need in one go. The basics are: the account holder’s name, account number or IBAN, SRCBINBBXXX or SRCBINBB and, for some countries, your home address.

It helps to add The Saraswat Co-Operative Bank LTD. and Mumbai as well. Double-check the details before you send them – a sender rarely spots a mistake in someone else’s details.

An incoming payment will not always arrive for the full amount. Correspondent banks can take a fee, The Saraswat Co-Operative Bank LTD. may charge for incoming payments, and if the money is converted, an exchange rate margin comes on top. Agree with the sender who pays which costs.

Transfer times and tracking a payment to The Saraswat Co-Operative Bank LTD.

There is no fixed answer for international payments: many land the same day or the next. Bank holidays in the sending or receiving country add extra days. Extra checks on larger or unusual payments can also add some delay, regardless of the details.

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

If a payment has not arrived after a few business days, the sender needs to start with the bank that sent it. On the receiving end, you can look at your account to see a slightly lower amount.

A note on our data

The codes here are taken from publicly available data which we refresh regularly. Institutions reorganise, change names and change codes. The number of codes we show reflect what is in our directory, not official figures from The Saraswat Co-Operative Bank LTD..

Treat our data as a reference, not as the last word: the recipient’s bank details come first. GoldexPay is not affiliated with The Saraswat Co-Operative Bank LTD., we only compare transfer services. Should you notice something that is out of date, we welcome a short note via the contact page.

How to check SRCBINBB before you pay

The most reliable source for a SWIFT code is the bank details provided by the recipient: an invoice, a bank statement or their online banking. When the code you were given does not match SRCBINBB or SRCBINBBXXX, do not guess.

Mistakes in the BIC tend to be annoying rather than fatal. An error in the account number is a bigger problem because it can reach the wrong person, so check that just as carefully.

A format check by your bank only tells you that the IBAN is valid – not that it belongs to the person you mean to pay. More and more banks compare the name against the account; take any warning seriously. Sending a small amount first can be a sensible step for a large first payment despite the extra fee.

Head office or branch code at The Saraswat Co-Operative Bank LTD.?

We have 20 SWIFT/BIC codes for The Saraswat Co-Operative Bank LTD. in 9 cities. Besides the head office code SRCBINBBXXX, you will find codes for branches, departments or specific services.

In most cases there is no need to pick a branch: transfers sent to SRCBINBBXXX are routed within The Saraswat Co-Operative Bank LTD. without problems. When you receive a branch code, use it as it is instead of swapping it for the head office code.

The safest route is to take the code directly from the recipient’s statement. Codes can change over time, so do not rely on old paperwork.

Protect yourself against fake payment requests

One of the most common tricks goes like this: an email arrives with a request claiming that a supplier has new bank details. That SRCBINBB is a real code does not mean that the account is genuine – fraudsters use real bank codes as well.

Always confirm a change of bank details by phone on a number you know, not one from the message. Pressure or requests to keep it quiet are red flags – a real supplier can wait a day. Already paid? Call the bank you paid from without delay and ask them to start a recall; also report it to the police.

Recipients can be targeted as well: a classic trick is a buyer who pays too much and then sends a request to send back the difference. Wait until the money has really arrived – ask The Saraswat Co-Operative Bank LTD. if something looks wrong.

International transfers from The Saraswat Co-Operative Bank LTD.: the real cost

An international bank payment costs more than the listed fee. There is the transfer fee, sometimes charges from correspondent banks along the way and, above all, the margin on the exchange rate when the money is converted.

The real cost is often in the rate, rather than in the fee: many banks convert at a rate that includes a margin. A simple test: put the bank’s rate next to the mid-market rate and work out the difference on your amount.

For a lot of routes, a specialist provider is less expensive than a bank. Next time you send money, take a minute to compare the total cost on GoldexPay. You can still use your account at The Saraswat Co-Operative Bank LTD. as the source of the money; only the conversion and sending happen elsewhere.

The Indian Rupee and what conversion costs you

Most accounts at The Saraswat Co-Operative Bank LTD. are usually held in INR, the local currency of India. When you pay another currency has to be converted somewhere along the way – by your bank, by The Saraswat Co-Operative Bank LTD. or by a bank in between. Each conversion costs something – usually through the rate rather than a fee.

Which bank converts the payment makes a difference: every bank has its own margin. Compare how much INR arrives with several services.

Exchange rates move during the day. For recurring payments, small differences in the rate make a real difference over time.