Jpmorgan Chase Bank, N.a SWIFT/BIC code

Jpmorgan Chase Bank, N.a SWIFT code: MGTCZAJJ

Whether you are given MGTCZAJJ or MGTCZAJJXXX, it is the identical identifier for Jpmorgan Chase Bank, N.a in South Africa. A SWIFT code tells the sending bank which institution is meant to get the money. In practice you mostly see it on invoices from abroad, in your banking app and on the account details that Jpmorgan Chase Bank, N.a provides.

Below we go through the practical side: receiving money at Jpmorgan Chase Bank, N.a, paying someone in another country and how to check a SWIFT code before you confirm a payment. Remember that the BIC only identifies the bank, not the person: the IBAN or account number takes care of that.

Where our SWIFT data comes from

We gather SWIFT/BIC codes using publicly available data and check them regularly. Still, banks merge or retire codes. The figures on this page reflect our own data, not official figures from Jpmorgan Chase Bank, N.a.

Before any payment of any size, check the BIC with Jpmorgan Chase Bank, N.a or the recipient. We are an independent comparison site and not part of Jpmorgan Chase Bank, N.a. If you notice a mistake, we appreciate a short note.

Incoming international payments to Jpmorgan Chase Bank, N.a

When you are waiting for a payment from another country, send the payer a complete set of details. The basics are: the account holder’s name, account number or IBAN, MGTCZAJJXXX and often your postal address.

Their bank may request the bank address of Jpmorgan Chase Bank, N.a; the head office in Johannesburg is usually fine. Check the details before you share them, because the sender’s bank usually copies them as is.

What lands in your account is often less than what was sent. Charges on incoming payments differ from bank to bank. Make clear with the sender who covers the fees.

How long does an international transfer to Jpmorgan Chase Bank, N.a take?

A SWIFT payment usually takes one to a few business days – it depends on currency, route and the banks in between. Payments made late in the day or just before a weekend or public holiday often start the next business day. Compliance checks on larger or unusual payments may also cause some delay.

Many banks are connected to SWIFT gpi, which lets them follow a payment from bank to bank. Every gpi transfer gets a unique reference, the UETR. Keep your transfer receipt until the money has arrived – you will need it for any trace request.

Only the sending bank can request a trace or a recall; the receiving side usually has nothing to trace yet. As a recipient, you can look at your account to see a slightly lower amount because fees can reduce the amount.

Why Jpmorgan Chase Bank, N.a has an 8- and an 11-character code

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

The 11-character version adds a three-character extension for a branch or department. If the last three are XXX, they simply mean the head office.

Leave out spaces, dots when you type MGTCZAJJ or MGTCZAJJXXX. Watch for O versus 0 or the letter I and the digit 1; they are easy to mix up.

International transfers from Jpmorgan Chase Bank, N.a: the real cost

What you pay for an international transfer is made up of several parts, and the transfer fee is only the most visible one. You pay the fee for the transfer itself, possibly charges from correspondent banks along the way and, above all, the margin on the exchange rate when the money is converted.

Banks rarely show their exchange rate markup as a cost, but you pay it all the same. A simple test: set the bank’s rate next to the mid-market rate for the same moment and look at the difference.

Specialised transfer providers often offer rates closer to the mid-market rate. GoldexPay compares what recipients receive across services, which makes the cheapest option easy to spot. Choosing a specialist does not require leaving Jpmorgan Chase Bank, N.a – you pay the provider from your own account.

Head office or branch code at Jpmorgan Chase Bank, N.a?

Having 2 codes in 1 locations, Jpmorgan Chase Bank, N.a is one of the banks that register separate codes for branches. The main code remains MGTCZAJJXXX.

For most incoming transfers, the head office code MGTCZAJJXXX is the right choice. If you have been given a branch code, stick to it rather than swapping it for the head office code.

The best way is to copy the code straight from the account holder’s statement. Codes are sometimes changed or retired when banks reorganise, so do not rely on old paperwork.

Watch out for payment fraud

Be alert when someone unexpectedly asks you to send money to a different account or a bank in another country. That MGTCZAJJ is a real code is no guarantee that the account is legitimate – fraudsters use real bank codes as well.

Do not rely on a phone number from the same email that contains the change. Pressure and requests to keep it quiet tend to be red flags; a genuine business can wait for you to check. Already paid? Contact the bank you paid from without delay and have them start a recall and report the fraud.

Fraud can also work the other way: someone claims to have sent too much and asks you to refund the difference to a new account. A payment confirmation from the sender proves nothing; only your own account shows what has arrived.

South African Rand (ZAR) and conversion costs

The national currency of South Africa is the South African Rand (ZAR). Money sent in a different currency is exchanged into ZAR before it reaches the account – and the bank that does it picks the rate. Each conversion eats into something, even when no fee is shown.

Which bank converts the payment makes a difference. In many cases you pay less if you send ZAR straight away through a provider with a good rate rather than letting the receiving bank convert.

Exchange rates move all the time, and some providers let you lock in a rate. For recurring payments, small differences in the rate make a real difference over time.

Verifying the SWIFT code of Jpmorgan Chase Bank, N.a

The most reliable place for the right code is a document from the bank itself like a bank statement or the account page in online banking. Compare that code with MGTCZAJJ here; if they differ, ask before you pay.

A wrong SWIFT code can cause a delay, a returned payment or additional charges along the way. A mistake in the IBAN or account number can be more serious because it can reach the wrong person, so check that just as carefully.

A validity check by your bank only tells you that the IBAN is valid – not that it belongs to the person you mean to pay. More and more banks check the name against the account before you confirm; take any warning seriously. For a first payment, many people send a small amount first before sending the rest.