SWIFT/BIC codes in Paraguay

SWIFT/BIC codes in Paraguay

In Paraguay we have 44 SWIFT/BIC codes from 35 banks. Each code identifies a bank or one of its branches, so a payment from abroad reaches the right place.

Pick a bank from the list to see the head office code and its other codes along with tips for payments to and from that bank. The sections below covers how the codes work, the cost of transfers and the checks worth doing before you send money.

Tracking a payment to Paraguay

An international transfer to Paraguay usually needs one to a few business days – it depends on currency, route and the banks in between. Public holidays in Paraguay or in the sending country add a day or more.

Many banks are connected to SWIFT gpi for faster and traceable payments. Each payment carries a unique transaction reference, the UETR. Keep the payment confirmation until the money has arrived.

Banco Central del Paraguay and its SWIFT codes

Of the 35 banks in Paraguay, Banco Central del Paraguay has the largest number of SWIFT codes. Its main office has BCPAPYPBXXX; that is usually the right code for a transfer.

How many codes a bank has tells you more about how it organises its payments than about how big it is. If not a branch code is given, the head office code BCPAPYPBXXX works for a payment to Banco Central del Paraguay.

What the letters in a Paraguay BIC mean

Every SWIFT/BIC code consists of eight or eleven characters in a fixed order. It starts with a four-letter bank code, then a two-letter country code and two characters for the location.

For banks in Paraguay, characters five and six are the ISO country code of Paraguay. When the country letters do not match Paraguay, you are looking at a bank in another country.

The long version ends in three characters for a branch, where XXX means the head office. Use a branch code just when the recipient explicitly gives you one – otherwise stick with the head office.

Getting paid from abroad into an account in Paraguay

To receive an international payment in Paraguay, the person paying you needs not just the BIC. Share your name as registered with the bank, your account number or IBAN, the BIC of your bank and your address.

The code of your bank is in the list on this page. Some banks also want your bank’s address.

What lands in your account can be less than what was sent. Intermediary banks may deduct a fee, your bank may charge for incoming payments, and when currencies differ, an exchange rate margin comes on top. For business payments, state how the fees are split.

The cheapest way to send money to Paraguay

The price of a payment to Paraguay has several parts – not only the fee you see. There is the transfer fee, sometimes fees from correspondent banks along the way and, most importantly, the margin on the exchange rate if the money is converted.

The real cost is often in the rate. Compare the rate you are offered with the mid-market rate that you find on financial sites. The difference is your real cost.

Money transfer services often offer rates closer to the mid-market rate with clearer fees. Before you send money to Paraguay, take a minute to compare the total cost via GoldexPay instead of going straight to your bank.

Check the code before you pay

The most reliable place for the correct BIC remains paperwork issued by the bank, such as a statement or the account page in online banking. A wrong code may lead to delays, a returned payment or additional charges, so compare it with the list on this page.

We gather bank codes from publicly available data and check them regularly. Banks merge, change names and retire codes, and no directory catches every change immediately. Before a payment of any size, check the BIC with the recipient’s bank. GoldexPay is an independent comparison site and is not affiliated with the banks listed.

Watch out for payment requests containing a new account, especially when they come by email. A real SWIFT code tells you nothing about who owns the account.

Paying a bank in Paraguay from abroad

Paraguay is outside the SEPA area. Payments from abroad normally travel over the SWIFT network, and the BIC of the receiving bank is required.

In some countries, the account is identified by a domestic account number instead of an IBAN. Check with the recipient which details their bank requires for payments from abroad; banks often publish instructions for this. On the way to Paraguay, a payment can pass through correspondent banks that charge for their part.