Avanza Bank AB SWIFT/BIC code

What AVANSES1 means for a payment to Avanza Bank AB

The short code AVANSES1 and the full code AVANSES1XXX identify one and the same institution: Avanza Bank AB. A BIC has a single purpose: it makes sure that an international payment reaches the right bank. It comes up mostly for transfers between countries and payments in foreign currencies.

We wrote this page to help people who pays into an account at Avanza Bank AB. The BIC identifies a bank or branch, not a single account.

How up to date is this code?

The directory on GoldexPay draws on public sources and we update it periodically. It is possible that a code on this page is out of date, for example after a merger. Counts and locations are from our directory.

Before a payment that matters, check the BIC with Avanza Bank AB or with the recipient. We are a comparison service and not part of Avanza Bank AB. Should you notice something that is out of date, we welcome a short note.

Before you send: check the Avanza Bank AB code

The most reliable source for the BIC is the recipient’s own bank details. If the code you have differs from AVANSES1 or AVANSES1XXX, stop and ask.

An incorrect BIC may lead to delays, a payment being sent back or additional charges. An error in the account number is a bigger problem because it can reach the wrong person, so check that just as carefully.

Most online banking apps check the structure of an IBAN and some suggest the matching BIC – that confirms the format, not the owner. Some banks now check the name against the account before you confirm – do not ignore a mismatch warning. For a first payment, many people send a small amount first before sending the rest.

The Swedish Krona and what conversion costs you

The currency in Sweden is the Swedish Krona (SEK). A payment in a foreign currency is exchanged into SEK on its way to Avanza Bank AB – and the bank that does it picks the rate. Every conversion costs something.

Who converts the money makes a difference. Compare how much SEK arrives with different services; the difference between options can be larger than you expect.

Exchange rates change during the day. If you pay regularly, small differences in the rate make a real difference over time.

What the XXX in AVANSES1XXX means

The structure of every SWIFT code never changes: a bank code of four letters, two for the country and a two-character location code, sometimes followed by a branch code. In this case, that core is AVANSES1.

The full version adds three more characters for a branch or department. If the last three are XXX, the code points to the head office, which is why AVANSES1XXX and AVANSES1 lead to the same place.

Type the code in one piece, in capitals and without spaces. Pasting the code is safer than retyping it: a typo can point to another bank.

Paying Avanza Bank AB in euros within SEPA

Sweden belongs to the Single Euro Payments Area (SEPA). For a regular euro transfer from another SEPA country, you normally only need the IBAN; many banks no longer ask for the BIC.

For anything other than euros and for senders outside SEPA, AVANSES1XXX or AVANSES1 is still part of the payment details. If a payment form asks for the BIC anyway, adding AVANSES1 is fine.

SEPA transfers normally land by the next business day. Fees for SEPA payments tend to be low as long as everything stays in euros.

What to give a sender who pays you at Avanza Bank AB

To receive a transfer from abroad into your account at Avanza Bank AB, the person paying you has to have not just the BIC. The basics are: the account holder’s name, account number or IBAN, AVANSES1XXX and, for some countries, your home address.

You can add Avanza Bank AB and Stockholm too, since some forms ask for it. A mistake in the IBAN is more trouble than you might think.

The amount you receive is often lower than what was sent. Intermediary banks may deduct a fee, Avanza Bank AB may charge for incoming payments, and if the money is converted, a markup on the rate comes on top. Agree with the sender who pays which costs.

Which of the 2 codes of Avanza Bank AB do you need?

Avanza Bank AB uses 2 different SWIFT/BIC codes. Only one is the head office code; the others identify branches or departments, and sometimes internal departments.

In most cases you do not need to pick a branch: transfers addressed to AVANSES1XXX are routed within Avanza Bank AB without problems. A branch code only makes sense if the account holder specifically mentions it, which is more common for corporate accounts and trade services.

When in doubt, check with the recipient which code their bank gave them. Codes are sometimes changed or retired over time.

Sending money abroad from Avanza Bank AB

If you send money abroad via Avanza Bank AB, the visible fee is only part of what you pay. You pay the fee for the transfer itself, sometimes charges from correspondent banks in between and, most importantly, the exchange rate markup.

Most of the cost usually sits in the exchange rate, rather than in the fee: the bank converts using an exchange rate that includes a margin. Check their rate against the mid-market rate – the rate you find on financial news sites. The difference is your real conversion cost.

Specialised transfer providers often use a rate near the mid-market rate with clearer fees. Next time you send money, take a minute to compare the total cost on GoldexPay. You can still use your account at Avanza Bank AB as the source of the money, while a cheaper service handles the conversion.

Scams that use SWIFT codes

Stay alert if a contact suddenly wants you to send money to another account abroad. A valid SWIFT code says nothing about who owns the account – scammers simply use real codes.

Check new payment details through a different channel like a call to a number from an earlier contract, never via the email that asked for the change. Urgency or requests to keep it quiet tend to be red flags. Acted too fast? Call your bank without delay and ask them to start a recall.

Recipients can be targeted as well: one known trick is a buyer who pays too much followed by a request to send back the difference to another account. A payment confirmation from the sender proves nothing.

Tracking a transfer to or from Avanza Bank AB

How fast a transfer reaches Avanza Bank AB depends on a few things: which currency you send, the number of banks in between, daily processing deadlines and differences in time zone. Weekends and public holidays in either country add a day or more. Extra checks by one of the banks can also cause a delay, regardless of the details.

When a payment takes longer than expected, contact the sending bank about the tracking status. Save the payment confirmation until the money has arrived – you will need it for any trace request.

If a payment has not arrived within the expected time, the person who paid needs to contact their own bank, not the receiving bank. Request from the sender the payment receipt including the reference.