SWIFT/BIC codes in India: banks starting with W

India: banks and their SWIFT/BIC codes

In India we have 4272 SWIFT/BIC codes from 394 banks. A BIC tells every bank in the chain which institution should receive the money.

Search for the bank you need in the list and open its page to see the full list of codes. The rest of this page covers the structure of the codes, the cost of transfers and the checks worth doing before a payment.

The cheapest way to send money to India

An international bank payment to India often costs more than you think. There is a transfer fee, sometimes charges from intermediary banks along the way and, above all, the exchange rate markup if the money is converted.

The markup on the rate is often the biggest part of the cost, even though it is not listed as a fee. Compare the bank’s rate with the mid-market rate that you find on financial sites. The difference is your real cost.

Specialised transfer providers frequently use a rate near the mid-market rate. Before your next transfer to India, take a minute comparing what arrives via GoldexPay instead of going straight to your bank.

Tracking a payment to India

An international transfer to India typically takes anywhere from one to several business days. Transfers sent late in the day or on a weekend or public holiday often start the next business day.

A growing number of banks use SWIFT gpi. Every payment gets a unique reference, the UETR, which the sending bank can use to trace it. Money transfer services often show a status online so you can follow the payment.

Recognising a SWIFT code from India

SWIFT/BIC codes follow one international format: 8 characters plus an optional three-character extension. First comes a four-letter bank code, then a two-letter country code and two characters for the location.

You can spot a code from India by letters five and six – those always form the country code of India. A code with a different country code belong to another country – a quick way to catch mistakes.

If the last three are XXX, it refers to the head office. For most transfers the head office code is fine, unless the recipient gives you a branch code.

Getting paid from abroad into an account in India

For a transfer from abroad into a India account, the sender has to have not just the SWIFT code. Share the account holder’s name, your account number or IBAN, your bank’s SWIFT code and your address, which some banks require.

Look up the bank in the list above and compare the code with your own bank details. Some banks also ask for your bank’s address.

The amount you receive is often lower than the amount sent. Intermediary banks may deduct a fee, your bank may charge for incoming payments, and if the money is converted, an exchange rate margin applies. Make clear with the sender who covers the fees, especially for larger amounts.

Which bank in India has the most codes?

State Bank of India leads the list of India banks when it comes to the number of SWIFT/BIC codes. The head office uses SBININBBXXX – the code most transfers need.

The number of codes says more about how it registers branches and services than about how big it is. Unless a branch code is given, the head office code SBININBBXXX works for transfers to this bank.

Check the code before you pay

Have the recipient send you their bank details straight from a recent statement. When the code you were given differs from the code listed here, stop and ask.

The directory on GoldexPay draws on publicly available sources. Even so, banks merge or change codes and our data may lag behind. For any payment of any size, check the BIC with the recipient’s bank. GoldexPay is not a bank and has no link to the banks in this list.

Be wary of payment requests containing changed bank details. A valid BIC tells you nothing about who owns the account: criminals use real codes too.

International payments to India and the BIC

To pay into India you will usually need the BIC – India is not a SEPA country. Without the BIC, most banks cannot process the transfer.

Not every country uses the IBAN; in that case the local account number is used instead. Ask the recipient which details their bank needs for incoming international payments. On the way to India, a transfer can go through correspondent banks that charge for their part.

Banks in India beginning with the letter :letter

The letter filter limits the list down to banks from India that begin with :letter to make searching quicker. The totals on this page apply to every bank we list and not only this letter.

Bank not listed? The registered name might begin with another word – think of the full legal name instead of the brand. Try the full list for India when you are not sure the exact name.

India and the Indian Rupee

Most accounts in India are typically held in INR. If you send another currency, it gets converted somewhere along the way – by your bank, a bank in between or the recipient’s bank.

Where the conversion happens affects the final amount, as rates and margins differ per bank. Check what INR the recipient gets with several providers. Rates for INR move all the time.