Forex Bank Aktiebolag SWIFT/BIC code

What FORXSES1 means for a payment to Forex Bank Aktiebolag

The short code FORXSES1 and the 11-character code FORXSES1XXX refer to the same bank: Forex Bank Aktiebolag, with its head office in Stockholm. A SWIFT code shows the sending bank which institution should receive the money. You will need it mostly when dealing with payments that cross a border or a currency.

Below you will find the practical questions: receiving money at Forex Bank Aktiebolag, sending money abroad and how to check a SWIFT code before you confirm a payment. The SWIFT code on its own cannot identify a personal account; for that you need the IBAN or account number is for.

Paying Forex Bank Aktiebolag in euros within SEPA

Since Sweden is in the SEPA zone, a euro payment to Forex Bank Aktiebolag from within the SEPA area normally requires just an IBAN. Many banks do not require the BIC in that case or fill it in for you.

For anything other than euros and from non-SEPA countries, FORXSES1XXX or FORXSES1 is still part of the payment details. If a payment form asks for the BIC anyway, adding FORXSES1 is fine.

Euro payments within SEPA normally land within one business day, and instant transfers in seconds where both banks support them. Fees for SEPA transfers are generally low.

Which of the 2 codes of Forex Bank Aktiebolag do you need?

Our directory lists 2 SWIFT/BIC codes for Forex Bank Aktiebolag in 1 cities. Besides the head office code FORXSES1XXX, there are codes for individual branches and departments.

If nobody asks you for a branch code, go with FORXSES1XXX. Branch codes are only needed if the recipient’s bank explicitly mentions it, which is more common for business accounts and specialised services.

If you are not sure, check with the recipient which code their bank gave them. Branch codes are more prone to change than FORXSES1XXX when a bank merges or closes offices.

Before you send: check the Forex Bank Aktiebolag code

Ask the recipient to copy their account details straight from a recent statement. When the code you were given differs from FORXSES1 or FORXSES1XXX, do not guess: check with the recipient or with Forex Bank Aktiebolag directly.

An incorrect BIC may lead to delays, a returned payment or additional charges for investigation. Do not forget the account number: a mistake there can be harder to correct than a wrong code.

Most online banking apps check the structure of IBANs. Some banks now check the payee name against the account – do not ignore a mismatch warning. For a first payment, some people start with a small amount first.

Sending SEK to Forex Bank Aktiebolag

The currency of Sweden is the Swedish Krona (SEK). When you pay money in a different currency, the amount has to be converted at some point – by your bank, by Forex Bank Aktiebolag or by a bank in between. You rarely see a separate line for that conversion.

Which bank converts the money makes a difference. Sending the amount directly in SEK often prevents an extra conversion at the receiving end – as long as your own rate is good.

Exchange rates move all the time, and some providers let you lock in a rate. On larger amounts, even seemingly small gap in the rate can be worth more than the fee.

A note on our data

The codes on this page come from publicly available data that we update regularly. Even so, banks merge or retire codes and our data may lag behind. The figures on this page reflect our own data, not official figures from Forex Bank Aktiebolag.

See the information on this page as a handy check, and let the details from the recipient or Forex Bank Aktiebolag have the final say. GoldexPay is an independent comparison service and not part of Forex Bank Aktiebolag. If you notice something that is out of date, we welcome a short note via the contact page.

What a transfer from Forex Bank Aktiebolag abroad really costs

The price of an international transfer has several parts – not just the fee on your screen. On top of a fixed fee, banks in between can take a cut, and when the money changes currency the bank often uses a rate that is less favourable than the actual market rate.

Many banks do not show their exchange rate markup as a cost – you only notice it if you compare. A simple test: put the bank’s rate next to the mid-market rate and work out the difference on your amount.

Specialist money transfer services often use a rate near the mid-market rate and lower fees. On GoldexPay you can compare the amount that arrives with different providers, so you can pick the cheapest route. Choosing a specialist does not require closing your account at Forex Bank Aktiebolag: you simply pay the service from your account.

Tracking a transfer to or from Forex Bank Aktiebolag

A SWIFT payment usually takes one to a few business days, depending on the currency, the route and the banks involved. Transfers sent late in the day or just before weekends and holidays often go out a business day later. Compliance checks by one of the banks can also add some delay, even when all details are correct.

If the money seems late, contact your bank about the status. Specialist transfer services usually provide tracking in their app showing how far the money has got.

Only the sending bank is able to start an official trace or a recall – the recipient’s bank often cannot see a payment that has not arrived. On the receiving end, it helps to check your statements for a slightly lower amount.

Getting paid from abroad into a Forex Bank Aktiebolag account

When you expect a payment from another country, give the sender everything they need in one go. Give them the account holder’s name, the IBAN or account number, the BIC FORXSES1XXX and your address, which some banks require.

Their bank may also ask for the address of your bank; the head office in Stockholm is usually fine. Check every detail before you share them, because the sender’s bank usually copies them as is.

Expect that the amount credited is smaller than the amount on the sender’s receipt. Charges on incoming payments vary per bank. Agree with the sender who pays which costs before the money is sent.

Watch out for payment fraud

Fraudsters often use payment requests with changed bank details, sometimes in an email that looks completely genuine. A valid SWIFT code says nothing about whether the request is genuine.

Always verify changed bank details through a phone call on a number you know, not one from the message. Watch out for time pressure, unusual wording or a sender address that is slightly off. Already paid? Contact the bank you paid from straight away and have them try to recall the payment and report the fraud.

Fraud also target the receiver: someone claims to have sent more than agreed and wants you to return the extra via a different route. A payment confirmation from the sender proves nothing – check your own account.

What the XXX in FORXSES1XXX means

A SWIFT code is made up of fixed blocks: the first four letters stand for the bank, characters five and six give the country and the two after that mark the location. The result is FORXSES1, the short form of the code.

Most banks and apps accept either length. If yours asks for eleven characters, enter FORXSES1XXX.

Leave out spaces, dots when you type FORXSES1; the code is always written in one block. Copying the code is safer than retyping it: a typo can point to another bank.