People's Bank,head Office SWIFT/BIC code

SWIFT/BIC code of People's Bank,head Office

The short code PSBKLKLX and the 11-character code PSBKLKLXXXX refer to one and the same institution: People's Bank,head Office, with its head office in Colombo. The code has a single purpose: it makes sure that money from abroad reaches the right bank. It comes up mostly when dealing with payments that cross a border.

Below we go through the practical questions: money coming in from abroad, paying someone in another country and how to verify the code before you hit send. The BIC identifies an institution, not a specific account.

8 or 11 characters: PSBKLKLX versus PSBKLKLXXXX

A SWIFT code is made up of a few fixed parts: characters one to four stand for the bank, characters five and six give the country and the two after that mark the location. The result is PSBKLKLX, the short form of the code.

The 11-character version adds three more characters for a branch or department. When those three characters are XXX, the code points to the head office.

Type the code in one piece, in upper case and without spaces. Pasting the code is safer than retyping it, because one wrong letter changes the bank.

When will the money arrive at People's Bank,head Office?

How quickly a transfer arrives at People's Bank,head Office depends on a few things: which currency you send, how many intermediary banks are involved, daily processing deadlines and differences in time zone. Bank holidays in either country add a day or more to the journey. Occasionally a bank wants to know what the payment is for.

A growing number of banks use SWIFT gpi for faster and traceable payments. Each gpi transfer carries a unique transaction reference, the UETR, which your bank can use to see where the money is. Money transfer services usually show a status online so you can see where the payment has got.

Only the sending bank can request a trace or a recall; the receiving side usually has nothing to trace yet. As a recipient, it helps to check your account to see a slightly lower amount.

What to give a sender who pays you at People's Bank,head Office

To receive a transfer from abroad at People's Bank,head Office, the person paying you has to have more than the SWIFT code. What they need is: the account holder’s name, IBAN or account number, PSBKLKLXXXX or PSBKLKLX and in many cases your home address.

Certain banks want the address of People's Bank,head Office in Colombo, so keep it at hand. A mistake in the IBAN can be more trouble than you might think.

Money from abroad does not always arrive in full. Intermediary banks may deduct a fee, People's Bank,head Office may charge for incoming payments, and if the money is converted, a markup on the rate applies. Agree with the sender who covers the fees before the money is sent.

What a transfer from People's Bank,head Office abroad really costs

If you send money to another country through People's Bank,head Office, the fee you see is rarely all of the cost. On top of a fixed fee, banks in between may take a cut, and when currencies are converted, the bank often uses a rate that is less favourable than the actual market rate.

The markup on the rate is often the largest item even though it is not listed as a fee. An easy check: put the rate you get next to the mid-market rate for the same moment and look at the difference.

For many routes, a transfer service turns out to be cheaper than a traditional bank transfer. GoldexPay lists these services side by side so you can see the amount the recipient gets before you commit. Using a transfer service does not mean leaving People's Bank,head Office: you simply pay the service from your account.

Head office or branch code at People's Bank,head Office?

People's Bank,head Office has 3 different SWIFT/BIC codes. One of them is the head office code; the rest belong to branches, and sometimes internal departments.

Usually there is no need to pick a branch: payments sent to PSBKLKLXXXX are routed within People's Bank,head Office without problems. A branch code only makes sense when the recipient’s bank explicitly mentions it, which is more common for business accounts and trade services.

When in doubt, check with the recipient for the exact BIC in their bank details. Branch codes are sometimes changed or retired over time.

How up to date is this code?

This directory draws on public sources and is updated regularly. It can happen that information on this page is no longer current after a merger or reorganisation. The figures on this page are based on what is in our directory, not official figures from People's Bank,head Office.

Use this page as a starting point, not as the final word. GoldexPay has no connection to People's Bank,head Office; we are a comparison site for money transfers. Found outdated information? Let us know via our contact form and we will look into it.

Before you send: check the People's Bank,head Office code

Ask the recipient to copy their account details straight from their banking app. Compare that code with PSBKLKLX here; if they differ, ask before you pay.

Mistakes in the BIC tend to be annoying rather than fatal: often the payment comes back, minus fees. An error in the IBAN or account number is a bigger problem because it can reach the wrong person; check it just as carefully.

An automatic check in your banking app merely tells you that the IBAN exists. Some banks now check the payee name against the account. Sending a small amount first can be worth it for large sums despite the extra fee.

Changed bank details? Be careful

Stay wary if someone unexpectedly wants you to pay into another account or a bank in another country. A real SWIFT code says nothing about whether the request is genuine.

Never rely on contact details from the same email that announces the new account. Urgency or secrecy tend to be red flags; a genuine business can wait for you to check. Already paid? Contact your bank straight away and have them try to recall the payment; also report it to the police.

Recipients are targeted too: one known trick is an overpayment and then sends a request to send back the difference to another account. Wait until the money is actually in your account.