Summit Bank LTD SWIFT/BIC code

SWIFT/BIC code of Summit Bank LTD

The 8-character code SUMBPKKA and the 11-character code SUMBPKKAXXX identify one and the same institution: Summit Bank LTD. The code does one job: it makes sure that a cross-border transfer ends up at the right bank. In daily life you mostly see it on invoices from abroad, in payment forms and in the bank details of Summit Bank LTD customers.

On this page you can read what the code means, when it matters and which other details a transfer to or from Summit Bank LTD requires. Keep in mind that the SWIFT code only identifies the bank, not the account: the account number or IBAN takes care of that.

What to give a sender who pays you at Summit Bank LTD

When you are waiting for a payment from another country, send the payer all details at once. The basics are: your name, IBAN or account number, SUMBPKKAXXX or SUMBPKKA and often your postal address.

Certain banks want the bank’s address, so keep it at hand. A mistake in your account number can be harder to fix than it looks, so copy the details from your online banking.

Expect that the amount credited is below what the sender paid. Correspondent banks can take a fee and your own bank may charge for processing, and if the currency changes, an exchange rate margin comes on top. For business payments, you can state how the fees are split to avoid a shortfall.

Summit Bank LTD: head office code versus branch codes

With 5 codes in 2 locations, Summit Bank LTD is one of the banks that use separate codes for branches. The main code is SUMBPKKAXXX.

If nobody asks you for a branch code, go with SUMBPKKAXXX or its short form SUMBPKKA. Branch codes are only needed when the recipient’s bank explicitly mentions it, which is more common for corporate accounts and specialised services.

If you are not sure, ask the person you are paying which code their bank gave them. Branch codes are more likely to be retired than the head office code.

About this information

We collect bank codes using public sources and check them regularly. It can happen that a code here is out of date. The number of codes we show are based on our own data and not on information from Summit Bank LTD itself.

See the information here as a helpful check and rely on the recipient or Summit Bank LTD for the final confirmation. We are an independent comparison site and not part of Summit Bank LTD. Should you notice something that is out of date, we appreciate a message via the contact page.

Transfer times and tracking a payment to Summit Bank LTD

There is no single delivery time for international payments: many land the same day or the next. Payments made after the cut-off time or on a weekend or public holiday often start a business day later. Occasionally a bank asks what the payment is for, which can hold things up.

When a payment takes longer than expected, ask the sending bank about the tracking status; with that reference banks can see where the payment is. Money transfer services usually provide tracking online so you can see where the money has got.

Only the sending bank is able to start an official trace or a recall. As a recipient, it helps to look at your account to see a partial amount.

Why Summit Bank LTD has an 8- and an 11-character code

The layout of every SWIFT code is always the same: four characters for the institution, a two-letter country code and two for the location, sometimes followed by a branch code. That gives you SUMBPKKA, the short form of the code.

XXX at the end of SUMBPKKAXXX does not stand for a missing value or a mistake: it indicates the head office of Summit Bank LTD. Certain payment forms insist on 11 characters, in which case you can enter XXX behind SUMBPKKA.

Do not add spaces, dots when you type SUMBPKKA; the code is always written in one block. A single character can send a payment to a different institution.

How to check SUMBPKKA before you pay

Have the recipient copy their bank details straight from a recent statement. When the code you were given differs from SUMBPKKA or SUMBPKKAXXX, do not guess: check with the recipient or with Summit Bank LTD directly.

With a wrong code, the transfer might get stuck, be returned or cost extra, and tracing it can take weeks. A mistake in the IBAN or account number is more serious.

Most online banking apps validate the format of IBANs and sometimes look up the BIC automatically – that confirms the format, not the owner. If your bank offers it, a name check before sending gives an extra layer of safety. For a first payment, some people start with a small test amount before sending the rest.

International transfers from Summit Bank LTD: the real cost

A bank transfer abroad can cost rather more than the listed fee. On top of a fixed fee, banks in between can take a cut, and when the money changes currency the bank often applies a rate that is less favourable than the real market rate.

Most of the cost usually sits in the exchange rate, not in the fee: many banks convert at a rate that includes a margin. Check the rate you are offered with the mid-market rate. The difference is your real conversion cost.

Specialist money transfer services frequently use a rate near the mid-market rate with clearer fees. GoldexPay compares the amount that arrives across providers, so you can pick the cheapest route. You can still keep your account at Summit Bank LTD as the source of the money; only the conversion and sending happen elsewhere.

Scams that use SWIFT codes

Be wary when someone unexpectedly wants you to pay into another account or a bank in another country. A real SWIFT code tells you nothing about who owns the account – scammers simply use real codes.

Check changed payment details via a different channel like a call to a number from an earlier contract, never via the email that asked for the change. Be suspicious of urgent requests, odd spelling or a sender address that is slightly off. Already paid? Call your bank straight away and ask them to start a recall and report the fraud.

Recipients are targeted too: one known trick is an overpayment followed by a request to refund the difference to another account. Do not act before the money is actually in your account – ask Summit Bank LTD if something looks wrong.