Industrial and Commercial Bank of China SWIFT/BIC code

ICBKSGSG – the SWIFT/BIC code of Industrial and Commercial Bank of China

ICBKSGSG and ICBKSGSGXXX are two spellings of the same SWIFT/BIC code, and both lead to Industrial and Commercial Bank of China in Singapore. Banks worldwide use BIC codes to route international transfers to the correct institution. In daily life you mostly come across it on invoices from abroad, in payment forms and on the account details that Industrial and Commercial Bank of China provides.

Further down we go through the practical side: money coming in from abroad, sending money abroad and how to verify a SWIFT code before you confirm a payment. Keep in mind that the BIC only identifies the bank, not the account: the account number or IBAN takes care of that.

How to check ICBKSGSG before you pay

Have the recipient copy the bank details directly from their banking app. When the code you were given does not match ICBKSGSG or ICBKSGSGXXX, stop and ask – contact the recipient or Industrial and Commercial Bank of China.

Errors in the BIC are annoying more than fatal: often the payment comes back, minus fees. A mistake in the account number can be more serious because it can reach the wrong person, so check that just as carefully.

An automatic check by your bank merely confirms that the code exists, not that it is the right account. More and more banks check the name with the account before you confirm – do not ignore a mismatch warning. A small test payment is worth it for large sums, even if it costs an extra fee.

Sending money abroad from Industrial and Commercial Bank of China

When you transfer money to another country via Industrial and Commercial Bank of China, the fee you see is rarely all of the cost. Besides a fixed fee, correspondent or intermediary banks may deduct a fee, and if the money changes currency, the bank usually uses a rate below the real market rate.

That exchange rate margin is often the largest item. A simple test: set the rate you get next to the mid-market rate for the same moment and look at the difference.

Specialised transfer providers often use rates closer to the mid-market rate with clearer fees. Before your next transfer, it is worth comparing the total cost on GoldexPay instead of going straight to your bank. Choosing a specialist does not require closing your account at Industrial and Commercial Bank of China.

Scams that use SWIFT codes

Be wary if someone unexpectedly asks you to pay into another account or a bank in another country. The fact that ICBKSGSG exists is no guarantee that the account is genuine.

Never trust contact details in the same message that contains the change. Pressure and secrecy tend to be warning signs; a genuine business can wait for you to check. Already paid? Call the bank you paid from straight away and ask them to try to recall the payment.

Scams also target the receiver. Someone sends more than agreed and wants you to refund the extra to a new account. Do not act before the money has really arrived – ask Industrial and Commercial Bank of China if something looks wrong.

Paying into Industrial and Commercial Bank of China in SGD

The currency of Singapore is the Singapore Dollar (SGD). If you send another currency, the amount has to be converted somewhere along the way: by your bank, an intermediary or Industrial and Commercial Bank of China itself. Each conversion eats into something – usually through the rate rather than a fee.

Which bank converts the payment makes a difference: every bank has its own margin. Transferring the money already in SGD usually avoids a second conversion by Industrial and Commercial Bank of China.

The rate for SGD changes constantly and quotes are often valid only for a short time. On larger amounts, even small difference in the rate adds up quickly.

How long does an international transfer to Industrial and Commercial Bank of China take?

An international transfer usually needs one to a few business days. Payments made after the cut-off time or just before weekends and holidays often go out a business day later. Occasionally a bank wants to know about the purpose of a payment before releasing it.

When a payment takes longer than expected, contact the sending bank for the status or the UETR. Save the payment confirmation.

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

Getting paid from abroad into a Industrial and Commercial Bank of China account

To receive an international payment into your account at Industrial and Commercial Bank of China, the sender has to have not just the BIC. Share the account holder’s name, the IBAN or account number, the BIC ICBKSGSGXXX and your address, which some banks require.

Certain banks also ask for the bank’s address; it does no harm to include it. Check the details before you share them – a sender rarely spots a mistake in someone else’s details.

Money from abroad will not always land for the full amount. Correspondent banks can take a fee, and if the currency changes, an exchange rate margin comes on top. On invoices, you can state who bears the costs.

Which of the 2 codes of Industrial and Commercial Bank of China do you need?

Our database contains 2 SWIFT/BIC codes for Industrial and Commercial Bank of China, spread over 1 locations. Next to the head office code ICBKSGSGXXX, you will find codes for individual branches and departments.

For most payments to a private or business account, the head office code ICBKSGSGXXX works fine. When you receive a specific code, stick to it rather than replacing it for the head office code.

The best way is to take the code straight from the recipient’s statement. Branch codes can change over time, so a code from an old document is not always valid.

8 or 11 characters: ICBKSGSG versus ICBKSGSGXXX

The layout of every SWIFT code never changes: a bank code of four letters, a two-letter country code and two for the location, sometimes followed by a branch code. In this case, that core is ICBKSGSG.

Many payment forms work with either length. If a form requires eleven characters, use ICBKSGSGXXX, otherwise ICBKSGSG is fine.

Do not add spaces, dots when you type ICBKSGSG; the code is always written in one block. A single letter may route a payment to a different institution, so copy it carefully.

Where our SWIFT data comes from

We collect bank codes from publicly available data and check our list from time to time. Still, banks merge or change codes, so information can be out of date. The figures on this page reflect what is in our directory.

Use our data as a starting point, rather than as the final word: the recipient’s bank details come first. GoldexPay is an independent comparison service and not affiliated with Industrial and Commercial Bank of China. Spotted outdated information? Let us know via our contact form.