SWIFT/BIC codes in Rwanda

Finding a SWIFT code in Rwanda

This overview contains 17 banks and financial institutions in Rwanda and 24 SWIFT/BIC codes between them. Every code points to an institution or one of its branches and tells other banks where an international payment should go.

Every bank is listed with its own page with the head office code and, where available, branch codes. The sections below explain the structure of the codes, the cost of transfers and how to avoid mistakes.

About our data and how to check a code

The safest source for the BIC is the bank details provided by the recipient – an invoice, a statement or a screenshot from online banking. When the code you were given does not match our list, do not guess: check with the recipient or the bank.

We gather SWIFT/BIC codes from public sources and check them regularly. Institutions merge, change names and retire codes. Before a payment that matters, confirm the BIC with the recipient’s bank. GoldexPay is an independent comparison site and is not affiliated with the banks listed.

Fraudsters regularly use payment requests with new bank details. Always confirm changed details through a separate channel.

Bank or transfer service for Rwanda?

A bank transfer to Rwanda can cost rather more than you think. There is a transfer fee, sometimes charges from intermediary banks and, most importantly, the exchange rate markup if the money is converted.

That exchange rate margin tends to be the biggest cost item because it is hidden in the rate. An easy check: put the offered rate next to the mid-market rate and work out the difference on your amount.

For a lot of currency pairs, a specialist provider turns out to be less expensive than a traditional bank transfer, mainly because of the rate. GoldexPay lists transfer services next to each other so you can see what actually arrives in Rwanda.

What a sender needs to pay you in Rwanda

When you expect a payment from another country on an account in Rwanda, send the payer all details at once. Share your name as registered with the bank, your account number or IBAN, the BIC of your bank and your address, which some banks require.

Your bank’s code is in our list but always compare it with your own bank details. Some banks also ask for the name and address of your bank; it does no harm to include it.

What lands in your account is often lower than what was sent. Intermediary banks may deduct a fee, and if the money is converted, an exchange rate margin comes on top. Make clear with the sender who pays which costs.

International payments to Rwanda and the BIC

Rwanda is not part of the SEPA area, the European zone for uniform euro payments. Payments from abroad usually go over the SWIFT network, and the BIC of the receiving bank is required.

In some countries, the account is identified by a local account number instead of an IBAN, sometimes with an extra bank or branch code. Ask the recipient which details their bank requires for incoming international payments. SWIFT payments sometimes go via correspondent banks and fees can be taken along the way.

How long does a transfer to Rwanda take?

An international transfer to Rwanda usually needs one to a few business days, depending on the currency, the route and the banks involved. Transfers sent late in the day or just before a weekend or public holiday often go out a business day later.

When a payment takes longer than expected, ask the sender to contact the sending bank; only the sending side can start an official trace. Save your transfer receipt.

The largest SWIFT network in Rwanda: Kcb Bank Rwanda LTD

In our data, Kcb Bank Rwanda LTD has the most SWIFT/BIC codes in Rwanda. The head office of Kcb Bank Rwanda LTD has KCBLRWRWXXX and that code covers most payments.

Banks differ in how many codes they register, so the count is not a ranking of size. Paying someone at Kcb Bank Rwanda LTD? Go with KCBLRWRWXXX except when the recipient gives you a branch code.

Recognising a SWIFT code from Rwanda

A BIC is either 8 or 11 characters long and follows a fixed pattern. First comes four letters for the bank, followed by two letters for the country and two characters for the location.

Whatever the bank, all Rwanda codes share the same fifth and sixth letters. Codes with a different country code come from another country.

The optional last three characters stand for a specific branch; XXX means the head office. Choose a branch code only when the recipient’s bank asks for it – otherwise stick with the head office.