SWIFT/BIC codes in Mali

Bank SWIFT codes for Mali

For Mali our database holds 20 SWIFT/BIC codes from 18 banks. You need such a code mostly when making payments across borders.

Every bank is listed with its own page showing the head office code and, where available, codes for branches and departments. The sections below explain how the codes work, what transfers cost and the checks worth doing before a payment.

Verifying a SWIFT code from Mali

Ask the recipient to send you their bank details straight from their banking app. A wrong code may lead to a delay, a payment being sent back or additional charges – compare it with the code in our list.

This list is based on publicly available sources that we update periodically. Institutions reorganise, close branches and retire codes – a directory can be a step behind. For a payment of any size, check the BIC with the recipient’s bank. GoldexPay is an independent comparison site and has no link to the banks in this list.

Scammers regularly use fake invoices carrying changed bank details that look completely genuine. A valid BIC says nothing about who owns the account: criminals use real codes too.

International payments to Mali and the BIC

Mali is outside the SEPA area, the European zone for uniform euro payments. Payments from abroad normally go over the SWIFT network, and the BIC of the receiving bank is required.

Depending on the country, the account is identified by a local account number rather than an IBAN and sometimes a local routing or branch code. Check with the recipient exactly which details their bank needs for incoming international payments; banks often publish instructions for this. SWIFT payments can pass through correspondent banks, each of which may deduct a fee.

Which bank in Mali has the most codes?

Bank of Africa - Mali tops the list for Mali when it comes to the number of SWIFT/BIC codes. Its main office uses AFRIMLBAXXX and that code covers most payments.

Many codes usually reflects separate codes for branches, departments or services. If not a branch code is given, AFRIMLBAXXX is fine for a payment to Bank of Africa - Mali.

Transfer times to Mali

How fast money arrives in Mali depends on a few things: which currency you send, the number of banks in between, cut-off times and time zones. Public holidays in Mali or in the sending country can add a day or more.

Many banks use SWIFT gpi, which lets them follow a payment from bank to bank. Each gpi transfer gets a unique reference, the UETR that banks can use to see where the money is. Specialist transfer services usually provide tracking online.

Receiving money in Mali from abroad

To receive an international payment in Mali, the sender needs more than the SWIFT code. Share the account holder’s name, your account number or IBAN, your bank’s SWIFT code and your address.

Find your bank in the list above – your bank statement is the final word. You can add the name and city of your bank because some forms have separate fields for it.

Expect that the amount credited is below the amount on the sender’s receipt. Correspondent banks can take a fee, your bank may charge for incoming payments, and when currencies differ, a markup on the rate comes on top. On invoices, state who bears the costs.

Recognising a SWIFT code from Mali

Bank identifier codes follow the same format worldwide: eight characters. First comes four letters for the bank, then a two-letter country code and two characters for the location.

Whatever the bank, all Mali codes have the same fifth and sixth letters: the ISO code of the country. Codes with other letters in that position come from another country – a quick way to catch mistakes.

An 11-character code ends in three characters for a branch. Use a branch code only when the recipient’s bank asks for it; otherwise the head office code is the safe choice.

What a transfer to Mali really costs

A bank transfer to Mali often costs rather more than you think. There is a transfer fee, possibly charges from intermediary banks along the way and, most importantly, the exchange rate markup if the money is converted.

The real cost is often in the rate, rather than in the fee: banks convert at a rate with a margin built in. An easy check: put the offered rate against the mid-market rate and work out the difference on your amount.

Money transfer services frequently offer rates closer to the mid-market rate. GoldexPay lists these providers side by side, showing what actually arrives in Mali for the same amount sent.