SWIFT/BIC codes in Mozambique

Finding a SWIFT code in Mozambique

In Mozambique we have 33 SWIFT/BIC codes from 24 financial institutions. Each code identifies an institution or one of its branches, so a payment from abroad reaches the right place.

Every bank is listed with its own page with its main code and if there are any, branch codes. Further down you can read how codes from Mozambique are built, how to send money there at a fair price and what to check before you pay.

How long does a transfer to Mozambique take?

There is no fixed delivery time for payments to Mozambique: some arrive within a day, others take several business days. Public holidays in either country add extra days.

Many banks are connected to SWIFT gpi, which lets them follow a payment from bank to bank. Each payment carries a unique reference, the UETR, which the sending bank can use to trace it. Save the payment confirmation until the recipient confirms.

Most SWIFT codes in Mozambique: Banco de Mocambique

Of the 24 banks in Mozambique, Banco de Mocambique has the most codes. The head office uses BMOCMZMAXXX – the code most transfers need.

The number of codes tells you something about how it organises its payments than about how big it is. Making a payment to Banco de Mocambique? Go with BMOCMZMAXXX unless the recipient gives you a branch code.

Incoming international payments in Mozambique

For a transfer from abroad into a Mozambique account, the person paying you has to have not just the BIC. In practice that means: your name exactly as it appears on the account, your IBAN or account number, the SWIFT/BIC code of your bank and, often, your address.

Find your bank in the list above to check its code – your bank statement is the final word. You can include the name and city of your bank as well.

What lands in your account can be lower than what was sent. Correspondent banks can take a fee, your bank may charge for incoming payments, and if the money is converted, an exchange rate margin comes on top. On invoices, agree who bears the costs to avoid a shortfall.

The cheapest way to send money to Mozambique

If you transfer money to Mozambique through your bank, the stated fee is only part of the cost. You pay a transfer fee, possibly fees from correspondent banks along the way and, above all, the exchange rate markup if the money is converted.

The markup on the rate is often the largest cost item because it is hidden in the rate. Check the bank’s rate with the mid-market rate that you find on financial sites; the gap is what conversion costs you.

For many routes, a specialist provider turns out to be less expensive than a traditional bank transfer, mainly because of the rate. Before your next transfer to Mozambique, take a minute comparing what arrives via GoldexPay.

How SWIFT codes from Mozambique are built

A SWIFT code is either 8 or 11 characters long. It starts with four letters for the bank, followed by a two-letter country code and two characters for the location.

You can spot a code from Mozambique from the fifth and sixth characters: they always show the ISO country code of Mozambique. If the country letters do not match Mozambique, you are looking at a bank in another country – worth double-checking.

When a code ends in XXX, it refers to the head office. In most cases the head office code is what you need unless the recipient asks for a specific branch.

SWIFT transfers to Mozambique

For Mozambique you usually need a SWIFT/BIC code, because the country is outside the SEPA area. Without it, most banks will not send the transfer.

Not all countries use the IBAN; in that case the local account number is used instead. The receiving bank often has instructions for incoming international payments – follow them exactly. International transfers can pass through one or more intermediary banks, each of which may deduct a fee.

About our data and how to check a code

The most reliable source for a SWIFT code is the recipient’s own bank details – an invoice, a statement or a screenshot from online banking. If the code you have differs from the code listed here, do not guess: check with the recipient or the bank.

This list draws on public sources that we update periodically. Even so, banks merge or change codes. Before a payment of any size, confirm the code with the recipient’s bank. We are a comparison site for money transfers, not a bank.

Fraudsters often use fake invoices carrying changed bank details that look completely genuine. A valid BIC says nothing about whether a request is genuine.