State Street Bank and Trust Company, Singapore Branch SWIFT/BIC code

What SBOSSGSX means for a payment to State Street Bank and Trust Company, Singapore Branch

The short code SBOSSGSX and the 11-character code SBOSSGSXXXX refer to one and the same institution: State Street Bank and Trust Company, Singapore Branch. A BIC has a single purpose: it ensures that an international payment reaches the right bank. In daily life you usually come across it on international invoices, in your banking app and on the account details that State Street Bank and Trust Company, Singapore Branch provides.

Below we go through the practical side: receiving money at State Street Bank and Trust Company, Singapore Branch, sending money abroad and how to verify the code before you confirm a payment. Keep in mind that the BIC just identifies the bank, not the person: the account number or IBAN does that part.

A note on our data

The codes on this page come from public sources. It is possible that a code here is no longer current, for example after a merger. Counts and locations are from our directory and are not confirmed by State Street Bank and Trust Company, Singapore Branch.

Before a payment of any size, always check the BIC with the recipient’s bank or the recipient. GoldexPay has no connection to State Street Bank and Trust Company, Singapore Branch; we are a comparison site for money transfers. If you notice something that is out of date, we welcome a message via the contact page.

Paying into State Street Bank and Trust Company, Singapore Branch in SGD

The national currency of Singapore is the Singapore Dollar (SGD). Money sent in a different currency will be exchanged into SGD, and whoever converts it chooses the rate. Each conversion eats into the amount.

Which bank converts the money makes a difference: every bank has its own margin. Transferring the amount already in SGD often prevents an extra conversion, provided the rate you get is fair.

The SGD rate changes throughout the day. For recurring payments, a slightly better rate add up over a year.

Which of the 5 codes of State Street Bank and Trust Company, Singapore Branch do you need?

State Street Bank and Trust Company, Singapore Branch has 5 separate SWIFT/BIC codes across 1 cities. Only one is the head office code; the others identify branches or departments.

If nobody asks you for a branch code, go with SBOSSGSXXXX. Branch codes are only needed when the account holder specifically asks for it.

Not sure which code to use? Ask the recipient, or look at a recent statement from State Street Bank and Trust Company, Singapore Branch. Branch codes are sometimes changed or retired over time, so do not rely on old paperwork.

Watch out for payment fraud

A common scam goes like this: an email arrives with a request saying that a supplier has a new bank account. That SBOSSGSX is a real code is no guarantee that the account is genuine.

Never trust contact details from the same email that announces the change. Urgency and secrecy are red flags. If a payment was sent to the wrong account, call your bank right away: the sooner they act, the better the chance of a recall.

Fraud can also work the other way. Someone sends too much and asks you to return the extra to a new account. A screenshot of a transfer is no proof – check your own account.

Paying someone abroad from your State Street Bank and Trust Company, Singapore Branch account

If you send money abroad through State Street Bank and Trust Company, Singapore Branch, the fee you see is only part of what you pay. You pay the transfer fee, possibly charges from correspondent banks in between and, above all, the margin on the exchange rate if the currency changes.

The real cost is often in the rate: many banks convert using an exchange rate with a margin built in. Check their rate with the mid-market rate – the rate you find on financial news sites.

For many routes, a transfer service turns out to be less expensive than a traditional bank transfer. On GoldexPay you can compare the amount that arrives across providers, so you can pick the cheapest route. Using a transfer service does not mean leaving State Street Bank and Trust Company, Singapore Branch: you simply pay the service from your account.

Before you send: check the State Street Bank and Trust Company, Singapore Branch code

The safest source for the BIC is the bank details provided by the recipient: an invoice, a bank statement or their online banking. If the code you have differs from SBOSSGSX or SBOSSGSXXXX, stop and ask – contact the recipient or State Street Bank and Trust Company, Singapore Branch.

Mistakes in the SWIFT code tend to be costly more than fatal. A mistake in the IBAN or account number is more serious, because the money may be credited to someone else; check it just as carefully.

An automatic check in your banking app only tells you that the code exists – not that it belongs to the person you mean to pay. If your bank offers it, a payee 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.

Why State Street Bank and Trust Company, Singapore Branch has an 8- and an 11-character code

Each SWIFT/BIC code starts with the same eight core characters: a four-letter bank code, a two-letter country code and two characters for the location. In this case, that core is SBOSSGSX.

Many banks and apps work with either length. If yours asks for eleven characters, enter SBOSSGSXXXX; if it wants eight, use SBOSSGSX.

Type the code in one piece, in capitals and without separators, exactly as shown here. Look out for the letter O and the digit 0 or I versus 1; they are easy to mix up.

Tracking a transfer to or from State Street Bank and Trust Company, Singapore Branch

How quickly a transfer reaches State Street Bank and Trust Company, Singapore Branch depends on a few things: the currency, the number of banks in between, daily processing deadlines and time zones. Bank holidays in either country add a day or more to the journey. Occasionally a bank asks what the payment is for before releasing it.

When a payment takes longer than expected, ask your bank for the tracking status so they can trace it along the chain. Save the payment confirmation until the money has arrived; it contains the details a bank needs to start a trace.

If the money does not arrive within the expected time, the person who paid should contact the bank that sent it rather than State Street Bank and Trust Company, Singapore Branch. On the receiving end, it helps to look at your account to see a partial amount because fees can reduce the amount.

Receiving money from abroad at State Street Bank and Trust Company, Singapore Branch

If you are waiting for a payment from another country, give the sender a complete set of details. The basics are: the account holder’s name, IBAN or account number, SBOSSGSXXXX and, for some countries, your home address.

Their bank might request the address of your bank. Double-check each detail before you send them, because the sender’s bank usually copies them as is.

An incoming payment will not always land in full. Charges on incoming payments vary per bank. For business payments, it is common to agree who bears the costs.