The South Indian Bank LTD SWIFT/BIC code

What SOININ55 means for a payment to The South Indian Bank LTD

Whether a recipient gives you SOININ55 or SOININ55XXX, you are looking at the identical address for The South Indian Bank LTD in India. A BIC does one job: it makes sure that money from abroad ends up at the right bank. It comes up mainly when dealing with transfers between countries or a currency.

We wrote this page to help people who receives money at an account at The South Indian Bank LTD. The BIC names a bank or branch, not a single account.

The Indian Rupee and what conversion costs you

Most accounts at The South Indian Bank LTD are usually held in INR, the local currency of India. When you pay money in a different currency, the amount gets converted at some point – by your bank, by The South Indian Bank LTD or by a bank in between. Each conversion eats into the amount – usually through the rate rather than a fee.

Which bank converts the payment makes a difference: every bank has its own margin. Sending the money directly in INR usually avoids an extra conversion by The South Indian Bank LTD, provided the rate you get is fair.

Exchange rates move during the day, and some providers let you lock in a rate. For regular payments, small differences in the rate make a real difference over a year.

How long does an international transfer to The South Indian Bank LTD take?

An international transfer typically takes one to a few business days, depending on the currency, the route and the banks involved. Transfers sent after the cut-off time or on a weekend or public holiday usually go out a business day later. Sometimes a bank asks about the purpose of a payment before releasing it.

If the money is late, ask the sending bank for the status and the transaction reference. Money transfer services usually provide tracking online showing where the money has got.

If the money does not arrive after a few business days, the sender needs to contact their own bank rather than The South Indian Bank LTD. As a recipient, it helps to look at your statements for a partial amount because fees can reduce the amount.

The South Indian Bank LTD: head office code versus branch codes

We have 50 SWIFT/BIC codes for The South Indian Bank LTD in 39 cities. Besides the head office code SOININ55XXX, there are codes for regional offices and specialised units.

Unless the recipient tells you otherwise, go with SOININ55XXX. If you have been given a specific code, stick to it rather than replacing it for the head office code.

When in doubt, check with the recipient which code their bank gave them. Codes for branches are more likely to change than SOININ55XXX.

Before you send: check the The South Indian Bank LTD code

Ask the recipient to send you their account details directly from a recent statement. Compare it with SOININ55 here and ask if anything does not match.

A wrong SWIFT code can cause a delay, a payment being sent back or extra fees along the way. A mistake in the IBAN or account number can be a bigger problem, so check that just as carefully.

A validity check in your banking app merely confirms that the IBAN is valid. If your bank offers it, a payee name check on the recipient adds an extra layer of safety. A small test payment is worth it for a large first payment.

Paying someone abroad from your The South Indian Bank LTD account

The price of a payment abroad has more than one component, and the transfer fee is only the most visible one. On top of a fixed fee, correspondent or intermediary banks may deduct a fee, and if the money changes currency, the bank usually uses a rate below the real market rate.

Banks rarely show the margin on the rate separately. Check the rate you are offered against the mid-market rate, the midpoint between buy and sell rates you see on financial sites; the gap is what conversion costs you.

Specialist money transfer services frequently offer rates closer to the mid-market rate and lower fees. GoldexPay lists transfer providers side by side, showing what actually arrives before you commit. You can always use your account at The South Indian Bank LTD; only the conversion and sending happen elsewhere.

Changed bank details? Be careful

Be wary if a contact suddenly asks you to send money to a different account. A valid SWIFT code tells you nothing about who owns the account – scammers simply use real codes.

Check new bank details via a separate channel, such as a phone number you already know, not by replying to the message. Pressure or secrecy tend to be warning signs. If a payment was sent to the wrong account, contact your bank immediately.

People receiving money are targeted too: one known trick is an overpayment and then sends a request to refund the difference. Do not act before the money is actually in your account and check with The South Indian Bank LTD if anything seems off.

Why The South Indian Bank LTD has an 8- and an 11-character code

Every SWIFT/BIC code starts with an 8-character core: four letters for the bank, two letters for the country and two characters for the location. That gives you SOININ55, the short form of the code.

XXX at the end of SOININ55XXX is not a missing value or a mistake: it indicates the main office of The South Indian Bank LTD. Certain payment forms insist on 11 characters, in which case you can add XXX after SOININ55.

As a rule the code is written in capitals and without spaces. Copying the code is safer than typing it by hand, because one wrong letter changes the bank.

What to give a sender who pays you at The South Indian Bank LTD

When you are waiting for a payment from another country, send the payer everything they need in one go. In practice that means: your name as registered with The South Indian Bank LTD, your account number or IBAN, the BIC SOININ55XXX (or SOININ55) and sometimes your postal address.

Their bank might also ask for the bank address of The South Indian Bank LTD; the head office in Ernakulam is usually fine. A typo in the IBAN is more trouble than you might think.

The amount you receive can be less than what was sent. Intermediary banks may deduct a fee, The South Indian Bank LTD may charge for incoming payments, and if the currency changes, a markup on the rate comes on top. On invoices, you can state who bears the costs to avoid a shortfall.

About this information

Our SWIFT/BIC directory is based on public sources and we update it periodically. Institutions merge, close branches and retire codes, and a directory never catches every change immediately. Counts and locations come from our own dataset and are not confirmed by The South Indian Bank LTD.

Use this page as a reference, rather than as the last word. GoldexPay is a comparison service for money transfers and not affiliated with The South Indian Bank LTD. If you notice something that is out of date, we appreciate a short note via the contact page.