Cibanco SA SWIFT/BIC code

SWIFT/BIC code of Cibanco SA

The short code CIMXMXMM and the full code CIMXMXMMXXX identify one and the same institution: Cibanco SA. Banks worldwide use these codes to direct payments between countries to the right institution. In daily life you usually see it on international invoices, in your banking app and in the bank details that Cibanco SA provides.

We wrote this page to help anyone who sends money to an account at Cibanco SA and wants to get the details right. The BIC names an institution, never a specific account.

International transfers from Cibanco SA: the real cost

When you send money abroad through Cibanco SA, the visible fee is only part of what you pay. On top of a fixed fee, correspondent or intermediary banks can take a cut, and if currencies are converted the bank often uses a rate that is less favourable than the real market rate.

The real cost is often in the rate, rather than in the fee: the bank converts at a rate with a margin built in. A simple test: set the rate you get against the mid-market rate for the same moment and look at the difference.

Specialised transfer providers often use rates closer to the mid-market rate and lower fees. GoldexPay compares the amount that arrives with different services. Choosing a specialist does not mean leaving Cibanco SA: you simply pay the service from your account.

About this information

The details here come from public sources that we update regularly. Even so, banks merge or change codes, so information can be out of date. The figures we show are based on our own data and not on information from Cibanco SA itself.

For any payment of any size, confirm the BIC with the recipient’s bank or with the recipient. GoldexPay has no connection to Cibanco SA, we only compare transfer services. Spotted outdated information? Tell us via our contact form.

How long does an international transfer to Cibanco SA take?

There is no single answer for international payments: many land the same day or the next, others take several business days. Transfers sent late in the day or on a weekend or public holiday often start a business day later. Occasionally a bank asks what the payment is for.

When a payment takes longer than expected, contact your bank about the status and the transaction reference. Keep your transfer receipt until the recipient confirms.

The bank that sent the money is able to start an official trace. As a recipient, it helps to look at your account to see a partial amount, since fees may have been deducted.

What the XXX in CIMXMXMMXXX means

Each SWIFT/BIC code starts with the same eight core characters: a four-letter bank code, a two-letter country code and two characters for the location. That gives you CIMXMXMM for Cibanco SA.

Many banks and apps accept either length. If a form asks for eleven characters, enter CIMXMXMMXXX; if it wants eight, use CIMXMXMM.

Enter the code in one piece, in upper case and without spaces. Pasting the code beats retyping it: a typo can point to another bank.

Watch out for payment fraud

One of the most common tricks works like this: you receive a message claiming that a company now has new bank details. A valid SWIFT code tells you nothing about who owns the account.

Do not rely on a phone number in the same message that announces the change. Urgency or requests to keep it quiet tend to be red flags. If money has already gone to a fraudster, contact your bank immediately.

Recipients can be targeted as well: a classic trick is a buyer who pays too much followed by a request to send back the difference to another account. Do not act before the money is actually in your account – ask Cibanco SA if something looks wrong.

Which of the 2 codes of Cibanco SA do you need?

With 2 codes in 1 locations, Cibanco SA is one of the banks that register separate codes for branches. The main code remains CIMXMXMMXXX.

For the vast majority of incoming transfers, the head office code CIMXMXMMXXX works fine. Just use a branch code when the recipient explicitly asks for it.

Unsure which code to use? Check with the recipient. Branch codes are more likely to be retired than CIMXMXMMXXX when a bank merges or closes offices.

How to check CIMXMXMM before you pay

Ask the recipient to send you their account details straight from their banking app. If the code you have does not match CIMXMXMM or CIMXMXMMXXX, do not guess: check with the recipient or with Cibanco SA directly.

A wrong SWIFT code may lead to delays, a payment being sent back or additional charges. An error in the account number is more serious.

A format check by your bank only confirms that the IBAN exists – not that it belongs to the person you mean to pay. If your bank offers it, a name check on the recipient adds an extra layer of safety. Sending a small amount first can be worth it for large sums, even if it costs an extra fee.

What to give a sender who pays you at Cibanco SA

A sender in another country needs several details about your account, and missing ones are a common cause of delays. Share your name as the bank knows it, your account number or IBAN, the BIC CIMXMXMMXXX and your address, which some banks require.

It helps to include Cibanco SA and its city as well, since some forms ask for it. A mistake in the IBAN can be more trouble than you might think, so copy the details from your online banking.

Expect that the incoming amount is smaller than what the sender paid. Intermediary banks may deduct a fee, Cibanco SA may charge for incoming payments, and if the currency changes, a markup on the rate applies. Make clear with the sender who covers the fees, especially for larger amounts.

The Mexican Peso and what conversion costs you

The currency of Mexico is the Mexican Peso (MXN). A payment in a foreign currency is exchanged into MXN before it reaches the account. There is rarely a separate line for the conversion.

Which bank converts the payment makes a difference, because each party uses its own rate. Compare how much MXN the recipient gets with several services; the difference between options can be larger than you expect.

The MXN rate fluctuates throughout the day, so the amount you see is usually only valid for a short time. If you pay regularly, small differences in the rate make a real difference over a year.