Bank Eghtesad Novin SWIFT/BIC code

SWIFT/BIC code of Bank Eghtesad Novin

Whether a recipient gives you BEGNIRTH or BEGNIRTHXXX, you are looking at the identical address for Bank Eghtesad Novin in Iran. Banks worldwide use BIC codes to route payments between countries to the right institution. It comes up mostly when dealing with payments that cross a border.

On this page you will find what the code means, when it matters and which other details you need for a transfer to or from Bank Eghtesad Novin. Remember that the BIC just identifies the bank, not the account: the IBAN or account number does that part.

Bank Eghtesad Novin: head office code versus branch codes

Having 19 codes in 7 cities, Bank Eghtesad Novin belongs to the banks that use individual codes for branches. The head office code remains BEGNIRTHXXX.

For most incoming transfers, the head office code BEGNIRTHXXX is what you need. Just use a branch code when your contact gives you that exact code, for example on an invoice or in their bank details.

The best way is to copy the code directly from the recipient’s invoice. Codes for branches are more likely to change than the head office code when a bank merges or closes offices.

Sending money abroad from Bank Eghtesad Novin

A bank transfer abroad can cost rather more than the listed fee. Besides the transfer fee, correspondent or intermediary banks can take a cut, and if the money changes currency the bank usually uses a rate below the actual market rate.

Banks rarely list their exchange rate markup as a cost – you only notice it if you compare. Check their rate against the mid-market rate, the midpoint between buy and sell rates you see on financial sites; the gap is what conversion costs you.

Money transfer services frequently offer rates closer to the mid-market rate and lower fees. GoldexPay lists these services next to each other so you can see the amount the recipient gets. Using a transfer service does not require leaving Bank Eghtesad Novin – you pay the provider from your own account.

Protect yourself against fake payment requests

Scammers regularly send payment requests containing changed bank details. A correct SWIFT code tells you nothing about who owns the account.

Always verify a change of bank details by phone, using a number you already had. Urgency or secrecy tend to be red flags; a genuine business can wait for you to check. When a payment has already gone to the wrong account, contact your bank immediately: the sooner they act, the better the chance of a recall.

Scams can also work the other way: someone claims to have sent more than agreed and wants you to refund the extra. A screenshot of a transfer is no proof; only your own account shows what has arrived.

Verifying the SWIFT code of Bank Eghtesad Novin

Ask the recipient to send you their account details straight from their banking app. If the code you have does not match BEGNIRTH or BEGNIRTHXXX, do not guess – contact the recipient or Bank Eghtesad Novin.

Errors in the SWIFT code are annoying more than disastrous: often the payment comes back, minus fees. A mistake in the account number is more serious, because the money may be credited to someone else.

An automatic check by your bank merely tells you that the IBAN exists – not that it belongs to the person you mean to pay. If your bank offers it, a payee name check on the recipient adds an extra layer of safety. For a first payment, some people send a small amount first and wait for confirmation.

Where our SWIFT data comes from

The directory on GoldexPay is based on publicly available sources and we update it periodically. Still, banks merge or change codes and our data may lag behind. The figures on this page reflect what is in our directory and not on information from Bank Eghtesad Novin itself.

For a payment of any size, always confirm the code with the recipient’s bank or the recipient. We are a comparison site and not part of Bank Eghtesad Novin. If you notice something that is out of date, we appreciate a message via the contact page.

What the XXX in BEGNIRTHXXX means

Every SWIFT/BIC code has the same eight core characters: a four-letter bank code, a two-letter country code and two characters for the location. The result is BEGNIRTH for Bank Eghtesad Novin.

Many banks and apps accept both lengths. If a form asks for eleven characters, use BEGNIRTHXXX, otherwise BEGNIRTH is fine.

Type the code as one block, in upper case and without spaces. A wrong character may route the money to another bank.

When will the money arrive at Bank Eghtesad Novin?

How fast a payment arrives at Bank Eghtesad Novin is determined by several factors: which currency you send, how many intermediary banks are involved, cut-off times and differences in time zone. Transfers sent late in the day or on a weekend or public holiday usually start a business day later. Compliance checks by one of the banks may also cause some delay.

A growing number of banks are connected to SWIFT gpi, which lets them follow a payment from bank to bank. Each gpi transfer carries a unique transaction reference, the UETR, which your bank can use to see where the money is. Save the payment confirmation until the money has arrived.

A delayed transfer is traced from the sending side, using the payment confirmation. As a recipient, you can check your account to see a slightly lower amount.

Incoming international payments to Bank Eghtesad Novin

Someone abroad who wants to pay you needs several details from you – incomplete details often cause delays. Give them your name as the bank knows it, the IBAN or account number, SWIFT code BEGNIRTHXXX and your address.

Some sending banks also ask for the bank’s address in Tehran; it does no harm to include it. Check each detail before you share them.

What lands in your account is often lower than what was sent. Intermediary banks may deduct a fee and your own bank may charge for processing, and if the money is converted, an exchange rate margin comes on top. Agree with the sender who pays which costs, especially for larger amounts.