Busan Bank SWIFT/BIC code

PUSBKR2P – the SWIFT/BIC code of Busan Bank

The short code PUSBKR2P and the full code PUSBKR2PXXX refer to the same bank: Busan Bank. The code does one job: it ensures that money from abroad ends up at the right bank. In practice you mostly come across it on invoices from abroad, in payment forms and on the account details that Busan Bank provides.

Below you will find the practical side: receiving money at Busan Bank, paying someone in another country and how to check a SWIFT code before you hit send. Keep in mind that the BIC only identifies the bank, not the person: the account number or IBAN does that part.

Verifying the SWIFT code of Busan Bank

Have the recipient copy their account details straight from a recent statement. When the code you were given differs from PUSBKR2P or PUSBKR2PXXX, stop and ask – contact the recipient or Busan Bank.

With a wrong code, the payment might be delayed, be returned or end up costing more – sometimes after weeks of searching. Do not forget the account number: a mistake there is harder to undo than a wrong BIC.

Many banking apps check the structure of IBANs and some suggest the matching BIC. If your bank offers it, a name check before sending gives an extra layer of safety. For a first payment, many people send a small test amount and wait for confirmation.

What a transfer from Busan Bank abroad really costs

The price of a payment abroad has more than one component, and the transfer fee is only the most visible one. On top of the transfer fee, banks in between can deduct a fee, and if the money changes currency the bank usually uses a rate below the actual market rate.

Most of the cost usually sits in the exchange rate: the bank converts at a rate that includes a margin. A simple test: set the bank’s rate against the mid-market rate for the same moment and look at the difference.

For many routes, a specialist provider is cheaper than a bank. On GoldexPay we compare what recipients receive with different providers. You can always keep your account at Busan Bank; only the conversion and sending happen elsewhere.

Watch out for payment fraud

Criminals regularly send payment requests with new bank details, sometimes in an email that looks completely genuine. A valid SWIFT code tells you nothing about whether the request is genuine – scammers simply use real codes.

Before paying, confirm changed bank details through a phone call on a number you know, not one from the message. Be suspicious of urgent requests, unusual wording or an email address that differs by one letter. Already paid? Contact your bank straight away and have them try to recall the payment; also report it to the police.

Scams can also work the other way: someone claims to have sent more than agreed and asks you to return the extra to a new account. Do not act before the money is actually in your account – ask Busan Bank if something looks wrong.

How up to date is this code?

The directory on GoldexPay is based on publicly available sources and we update it periodically. Even so, banks merge, rename themselves or retire codes and our data may lag behind. The figures on this page are based on what is in our directory and not on information from Busan Bank itself.

Use this page as a reference, not as the last word: the recipient’s bank details come first. GoldexPay is an independent comparison site for money transfers and not affiliated with Busan Bank. Should you notice something that is out of date, we appreciate a message via the contact page.

Incoming international payments to Busan Bank

When you are waiting for money from abroad, send the payer all details at once. That means: your full name as registered with Busan Bank, your account number or IBAN, the SWIFT/BIC code PUSBKR2PXXX and sometimes your postal address.

Their bank may also ask for the address of your bank; the head office in Busan is usually fine. A typo in your account number can be harder to fix than it looks, so copy the details from your online banking.

Money from abroad does not always land in full. Fees for incoming transfers vary per bank – the price list of Busan Bank tells you what applies. For business payments, you can agree how the fees are split, so that nobody is left short.

Choosing between the 4 SWIFT codes of Busan Bank

Busan Bank has 4 different SWIFT/BIC codes across 3 locations. Only one is the head office code, PUSBKR2PXXX; the rest identify branches.

In most cases there is no need to pick a branch: payments addressed to PUSBKR2PXXX are routed within Busan Bank without problems. When you receive a specific code, stick to it rather than replacing it for the head office code.

If you are not sure, ask the person you are paying for the exact BIC in their bank details. Branch codes can change when banks reorganise, so a code from an old document is not always valid.

What the XXX in PUSBKR2PXXX means

A BIC is made up of a few fixed parts: characters one to four identify the bank, characters five and six give the country and characters seven and eight mark the location. Together, these eight characters form PUSBKR2P – the version you usually see online.

XXX at the end of PUSBKR2PXXX is not a placeholder or a mistake: it indicates the head office of Busan Bank. Some forms ask for 11 characters, in which case you can enter XXX behind PUSBKR2P.

Enter the code as one block, in upper case and without separators. Copying the code beats retyping it, because one wrong letter changes the bank.

How long does an international transfer to Busan Bank take?

There is no single delivery time: some arrive the same day or the next. Transfers sent after the cut-off time or on a weekend or public holiday usually go out a business day later. Extra checks by one of the banks can also add some delay, even when all details are correct.

If the money seems delayed, ask your bank for the status and the transaction reference so they can trace it along the chain. Money transfer services usually show tracking in their app so you can see where the money is.

Only the sending bank is able to request a trace. On the receiving end, you can check your statements to see a partial amount because fees can reduce the amount.