Wema Bank PLC SWIFT/BIC code

Wema Bank PLC SWIFT code: WEMANGLA

The short code WEMANGLA and the 11-character code WEMANGLAXXX identify the same bank: Wema Bank PLC in Lagos, Nigeria. A SWIFT code tells the banks handling a payment exactly which bank is meant to get the money, much like a postcode for banks. It comes up mainly when dealing with payments that cross a border and payments in foreign currencies.

On this page you will find what the code means, when it matters and what else you need for a transfer to or from Wema Bank PLC. The BIC names an institution, never a single account, which is why you always need the account number too.

Is WEMANGLA still correct? How to check

The best place to find the correct BIC is a document from the bank itself. Compare that code with WEMANGLA on this page; if they differ, ask before you pay.

A wrong SWIFT code may lead to a delay, a payment being sent back or additional charges along the way. Remember the account number: a mistake there can be harder to correct than a wrong code.

Most online banking apps validate the structure of IBANs – that confirms the format, not the owner. More and more banks check the payee name with the account before you confirm; take any warning seriously. Sending a small amount first is a sensible step for large sums despite the extra fee.

What to give a sender who pays you at Wema Bank PLC

Someone abroad who wants to pay you needs a few details about your account. The basics are: the account holder’s name, account number or IBAN, WEMANGLAXXX or WEMANGLA and often your home address.

Certain sending banks want the name and address of Wema Bank PLC; it does no harm to include it. A mistake in your account number is harder to fix than it looks, so copy the details from your online banking.

An incoming payment will not always arrive in full. Correspondent banks can take a fee, Wema Bank PLC may charge for incoming payments, and if the currency changes, a markup on the rate comes on top. Agree with the sender who pays which costs.

Changed bank details? Be careful

One of the most common tricks goes like this: you receive a request saying that a contact now has new bank details. A real SWIFT code tells you nothing about whether the request is genuine: scammers use real codes of real banks.

Never rely on contact details from the same email that announces the new account. Be suspicious of time pressure, odd spelling or a sender address that is slightly off. Already paid? Contact the bank you paid from without delay and ask them to start a recall; also report it to the police.

Scams also work the other way: someone claims to have sent more than agreed and wants you to return the difference via a different route. Do not act before the money has really arrived and check with Wema Bank PLC if anything seems off.

Why Wema Bank PLC has an 8- and an 11-character code

A SWIFT code is made up of fixed blocks: characters one to four identify the bank, characters five and six show the country and characters seven and eight mark the location. Combined, these eight characters form WEMANGLA.

Many payment forms work with both lengths. If yours asks for eleven characters, enter WEMANGLAXXX; if it wants eight, use WEMANGLA.

In practice the code is written in capitals, without spaces or dashes. Watch for the letter O and the digit 0 and the letter I and the digit 1.

A note on our data

The details here are taken from publicly available data. Still, banks merge or change codes and our data may lag behind. The number of codes on this page reflect our own data and not on information from Wema Bank PLC itself.

See the information here as a handy check, and let the details from the recipient or Wema Bank PLC have the final say. GoldexPay is independent of Wema Bank PLC. Should you notice a mistake, we appreciate a short note via the contact page.

Sending money abroad from Wema Bank PLC

An international bank payment costs rather more than the fee suggests. You pay the fee for the transfer itself, sometimes fees charged by intermediary banks along the way and, most importantly, the exchange rate markup when the money is converted.

Many banks rarely show the margin on the rate as a cost – you only notice it if you compare. A simple test: set the rate you get next to the mid-market rate for the same moment and look at the difference.

Money transfer services often use a rate near the mid-market rate. GoldexPay compares transfer providers next to each other, showing what actually arrives. Choosing a specialist does not require closing your account at Wema Bank PLC.

When will the money arrive at Wema Bank PLC?

An international transfer usually needs one to a few business days – it depends on currency, route and the banks in between. Weekends and public holidays in the sending or receiving country can add a day or more. Sometimes a bank asks what the payment is for.

A growing number of banks use SWIFT gpi, which lets them follow a payment from bank to bank. Every gpi transfer carries a unique reference, the UETR that banks can use to trace it. Keep your transfer receipt until the money has arrived – you will need it for any trace request.

Only the sending bank is able to request a trace or a recall – the recipient’s bank often cannot see a payment that has not arrived. As a recipient, you can look at your statements for a slightly lower amount.

Which of the 3 codes of Wema Bank PLC do you need?

Our database contains 3 SWIFT/BIC codes for Wema Bank PLC, spread over 3 cities. Next to the head office code WEMANGLAXXX, there are codes for branches, departments or specific services.

For the vast majority of incoming transfers, the head office code WEMANGLAXXX is the right choice. If you have been given a branch code, stick to it rather than swapping it for the head office code.

The safest approach is to take the code directly from the recipient’s statement. Codes for branches are more prone to be retired than the head office code.