Fay, Richwhite and Company Limited SWIFT/BIC code

FAYRNZ21 – the SWIFT/BIC code of Fay, Richwhite and Company Limited

Whether you are given FAYRNZ21 or FAYRNZ21XXX, you are looking at the same identifier for Fay, Richwhite and Company Limited in New Zealand. The code has a single purpose: it makes sure that money from abroad ends up at the right bank. It comes up mainly when dealing with transfers between countries.

We wrote this page to help anyone who receives money at an account at Fay, Richwhite and Company Limited and wants to get the details right. A SWIFT code names an institution, not a specific account; the IBAN or account number does that.

Protect yourself against fake payment requests

Be wary when someone suddenly wants you to send money to another account. A valid SWIFT code tells you nothing about whether the request is genuine: scammers use real codes of real banks.

Never trust a phone number in the same message that announces the new account. Pressure or requests to keep it quiet are red flags. When a payment was sent to the wrong account, contact your bank immediately.

People receiving money can be targeted as well: one known trick is an overpayment followed by a request to send back the difference to another account. Wait until the money is actually in your account and check with Fay, Richwhite and Company Limited if anything seems off.

What to give a sender who pays you at Fay, Richwhite and Company Limited

Someone abroad who wants to pay you will ask for a few details about your account, and missing ones are a common cause of delays. What they need is: your name, IBAN or account number, FAYRNZ21XXX and in many cases your home address.

You can include Fay, Richwhite and Company Limited and Wellington as well, because some payment forms have separate fields for them. Check the details before you share them, because the sender’s bank usually copies them as is.

Money from abroad does not always arrive for the full amount. Charges on incoming payments vary from bank to bank. Make clear with the sender who covers the fees before the money is sent.

FAYRNZ21 or FAYRNZ21XXX – which one to use?

A SWIFT code is built from a few fixed parts: characters one to four identify the bank, characters five and six give the country and characters seven and eight indicate the location. Combined, these eight characters make up FAYRNZ21, the code most people search for.

Many payment forms work with either length. If a form requires eleven characters, use FAYRNZ21XXX; if it wants eight, use FAYRNZ21.

Enter the code as one block, in capitals and without separators. Watch for O versus 0 or the letter I and the digit 1, a common source of typos.

When will the money arrive at Fay, Richwhite and Company Limited?

An international transfer usually takes one to a few business days. Bank holidays in either country add a day or more. Sometimes a bank wants to know about the purpose of a payment, which can hold things up.

If a transfer is delayed, ask your bank for the tracking status and the transaction reference. Money transfer services usually provide tracking in their app so you can see where the money is.

The bank that sent the money can request a trace or a recall; the receiving side usually has nothing to trace yet. Ask the sender for the payment receipt; that often settles the question quickly.

A note on our data

The details on this page are taken from publicly available data which we refresh regularly. Even so, banks merge, rename themselves or change codes. The figures we show reflect our own data and not on information from Fay, Richwhite and Company Limited itself.

Before a payment of any size, check the code with Fay, Richwhite and Company Limited or with the recipient. GoldexPay is independent of Fay, Richwhite and Company Limited, we only compare transfer services. Spotted outdated information? Tell us via our contact form.

Verifying the SWIFT code of Fay, Richwhite and Company Limited

The most reliable source for the BIC is the recipient’s own bank details: an invoice, a bank statement or their online banking. When the code you were given does not match FAYRNZ21 or FAYRNZ21XXX, do not guess – contact the recipient or Fay, Richwhite and Company Limited.

Errors in the BIC tend to be costly more than disastrous – usually the money comes back, minus fees and time lost. Remember the account number: a mistake there is more difficult to correct than a wrong BIC.

Many banking apps check the structure of IBANs and sometimes look up the BIC automatically. More and more banks check the name against the account – do not ignore a mismatch warning. Sending a small amount first can be worth it for a large first payment despite the extra fee.

Fay, Richwhite and Company Limited: head office code versus branch codes

Fay, Richwhite and Company Limited has 2 separate SWIFT/BIC codes. One of them is the head office code, FAYRNZ21XXX; the others belong to branches or departments.

Unless the recipient tells you otherwise, use FAYRNZ21XXX. Just use a branch code when the account holder gives you that exact code.

Not sure which code applies? Check with the recipient, or look at a recent statement from Fay, Richwhite and Company Limited. Branch codes are sometimes changed or retired when banks reorganise, so do not rely on old paperwork.

International transfers from Fay, Richwhite and Company Limited: the real cost

If you send money abroad from Fay, Richwhite and Company Limited, the fee you see is rarely all of the cost. On top of a fixed fee, correspondent or intermediary banks can deduct a fee, and when the money changes currency, the bank often uses a rate that is less favourable than the real market rate.

The real cost is often in the rate: the bank converts at a rate with a margin built in. Compare the rate you are offered against the mid-market rate. The difference is your real conversion cost.

Specialist money transfer services often use rates closer to the mid-market rate and lower fees. Before your next transfer, take a minute comparing the total cost via GoldexPay. You can still use your account at Fay, Richwhite and Company Limited as the source of the money; only the conversion and sending happen elsewhere.

Paying into Fay, Richwhite and Company Limited in NZD

New Zealand pays in the New Zealand Dollar, with the currency code NZD. A payment in a foreign currency will be exchanged into NZD on its way to Fay, Richwhite and Company Limited, and whoever converts it chooses the rate. Each conversion costs the amount.

Which bank converts the payment matters, because each party uses its own rate. Transferring the money already in NZD often prevents a second conversion by Fay, Richwhite and Company Limited.

The rate for NZD fluctuates throughout the day. On larger amounts, even small gap in the rate adds up quickly.