Bni Madagascar SWIFT/BIC code

SWIFT/BIC code of Bni Madagascar

Whether you are given CLMDMGMG or CLMDMGMGXXX, you are looking at the same identifier for Bni Madagascar in Madagascar. A BIC has a single purpose: it ensures that a cross-border transfer ends up at the right bank. In practice you usually come across the code on international invoices, in payment forms and in the bank details of Bni Madagascar customers.

Below you will find the practical side: receiving money at Bni Madagascar, paying someone in another country and how to verify a SWIFT code before you hit send. The SWIFT code on its own does not identify an individual account holder; that is what the account number or IBAN .

Choosing between the 4 SWIFT codes of Bni Madagascar

Our database contains 4 SWIFT/BIC codes for Bni Madagascar. Besides the head office code CLMDMGMGXXX, you will find codes for individual branches and departments.

For the vast majority of incoming transfers, the head office code CLMDMGMGXXX is what you need. Just use a branch code when the recipient explicitly asks for it, for example on a letter or invoice.

Not sure which code to use? Ask the recipient, or look at a recent statement from Bni Madagascar. Codes for branches are more likely to be retired than CLMDMGMGXXX when a bank merges or closes offices.

What the XXX in CLMDMGMGXXX means

Each SWIFT/BIC code has an 8-character core: four letters for the bank, two letters for the country and a two-character location code. Combined, these eight characters form CLMDMGMG – the version you usually see online.

Many banks and apps accept either length. If yours asks for eleven characters, enter CLMDMGMGXXX; if it wants eight, use CLMDMGMG.

Do not add spaces, dots when you enter CLMDMGMG. Look out for O versus 0 and I versus 1, a common source of typos.

Receiving money from abroad at Bni Madagascar

If you are waiting for a payment from another country, send the payer everything they need in one go. Share the account holder’s name, the IBAN or account number, SWIFT code CLMDMGMGXXX and your address.

Certain sending banks also ask for the bank’s address, so keep it at hand. A typo in your account number is harder to fix than it looks.

The amount you receive is often less than what was sent. Fees for incoming transfers vary per bank; check the price list of Bni Madagascar. Agree with the sender who pays which costs, especially for larger amounts.

Transfer times and tracking a payment to Bni Madagascar

There is no fixed delivery time for international payments: many arrive within a day while others need several business days. Transfers sent after the cut-off time or just before a weekend or public holiday usually go out a business day later. Occasionally a bank asks about the purpose of a payment, which can hold things up.

If a transfer seems delayed, 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 often show tracking online showing how far the payment is.

Only the sending bank can request a trace; the receiving side usually has nothing to trace yet. Ask the sender for the payment receipt with the date and reference.

Sending money abroad from Bni Madagascar

An international bank payment can cost more than the listed fee. There is the fee for the transfer itself, sometimes charges from correspondent banks in between and, most importantly, the margin on the exchange rate.

Most of the cost usually sits in the exchange rate, not in the fee: the bank converts using an exchange rate with a margin built in. A simple test: set the rate you get next to the mid-market rate and work out the difference on your amount.

Specialist money transfer services often offer rates closer to the mid-market rate with clearer fees. On GoldexPay you can compare the amount that arrives across providers. You can still keep your account at Bni Madagascar as the source of the money.

Is CLMDMGMG still correct? How to check

The most reliable source for the BIC is the bank details provided by the recipient: an invoice, a bank statement or their online banking. When the code you were given differs from CLMDMGMG or CLMDMGMGXXX, stop and ask – contact the recipient or Bni Madagascar.

An incorrect BIC may lead to delays, a payment being sent back or additional charges. Do not forget the IBAN: an error there is more difficult to correct than a wrong code.

A format check in your banking app only confirms that the code is valid. Where available, a payee name check on the recipient gives an extra layer of safety. When you pay someone new, many people send a small test amount.

How up to date is this code?

The directory on GoldexPay draws on publicly available sources and we update it periodically. Even so, banks merge, rename themselves or change codes. The figures on this page are based on what is in our directory and not on information from Bni Madagascar itself.

Use this page as a starting point, rather than as the final word – the bank details from the recipient are leading. We are a comparison service for money transfers and not affiliated with Bni Madagascar. If you notice a mistake, we welcome a short note via the contact page.

Changed bank details? Be careful

A common scam works like this: an email arrives with a message saying that a company now has a new bank account and that the next payment should go there. A valid SWIFT code tells you nothing about who owns the account – scammers simply use real codes.

Check changed bank details via a different channel, such as a phone number you already know. Watch out for time pressure, odd spelling or a sender address that is slightly off. When money was sent to a fraudster, call your bank right away.

Fraud also target the receiver. Someone sends too much and wants you to return the difference to a new account. Do not act before the money has really arrived – ask Bni Madagascar if something looks wrong.