Fonds de Compensation Avs/Ai/Apg SWIFT/BIC code

What FAVSCHGG means for a payment to Fonds de Compensation Avs/Ai/Apg

FAVSCHGG and FAVSCHGGXXX are two ways of writing the same bank identifier, and both point to Fonds de Compensation Avs/Ai/Apg in Geneva. Every bank on the SWIFT network uses BIC codes to route payments between countries to the right bank. It comes up mostly when dealing with payments that cross a border or a currency.

We wrote this page to help people who receives money at an account at Fonds de Compensation Avs/Ai/Apg without mistakes. Keep in mind that the SWIFT code only identifies the bank, not the person: the IBAN or account number takes care of that.

The Swiss Franc and what conversion costs you

The currency of Switzerland is the Swiss Franc (CHF). Money sent in a different currency will be converted into CHF on its way to Fonds de Compensation Avs/Ai/Apg. Each conversion costs something, even when no fee is shown.

Who converts the payment matters. Check what CHF the recipient gets with several providers; the difference between options can be larger than you expect.

Exchange rates change all the time, and some providers let you lock in a rate. If you pay regularly, small differences in the rate add up over time.

Verifying the SWIFT code of Fonds de Compensation Avs/Ai/Apg

The most reliable source for the BIC is the recipient’s own bank details – an invoice, a statement or a screenshot from online banking. Check it with FAVSCHGG here and ask if anything does not match.

Errors in the BIC tend to be annoying more than disastrous – usually the money comes back, minus fees and time lost. Remember the account number: an error there can be more difficult to correct than a wrong code.

Most online banking apps check the format of an IBAN, but that does not prove the account belongs to the right person. If your bank offers it, a payee name check on the recipient adds an extra layer of safety. For a first payment, some people send a small amount first.

Euro transfers to Fonds de Compensation Avs/Ai/Apg: is a BIC needed?

Within the SEPA zone, euro payments to an account in Switzerland use common rules, so the IBAN does the job in most cases. A field for the BIC is often optional in that case.

You will still need FAVSCHGGXXX for non-euro payments or money from outside the SEPA area. Some forms still ask for the BIC; in that case, enter FAVSCHGG or FAVSCHGGXXX.

Instant euro transfers are widely supported within SEPA. As long as the payment stays in euros, the transfer tends to be inexpensive; it is the conversion that costs money.

A note on our data

The codes on this page come from public sources which we refresh regularly. Institutions reorganise, close branches and change codes – a directory can be a step behind. The number of codes on this page reflect what is in our directory and not on information from Fonds de Compensation Avs/Ai/Apg itself.

Treat the information here as a helpful check. GoldexPay is an independent comparison service for money transfers and not affiliated with Fonds de Compensation Avs/Ai/Apg. If you notice something that is out of date, we appreciate a short note.

Changed bank details? Be careful

Fraudsters regularly send payment requests with new bank details, sometimes in an email that looks completely genuine. A correct SWIFT code tells you nothing about whether the request is genuine.

Verify new payment details through a different channel, never via the email that asked for the change. Urgency or secrecy are red flags – a real supplier can wait a day. Already paid? Contact your bank straight away and have them start a recall.

Scams can also target the receiver. Someone sends too much and asks you to refund the extra to a new account. Do not act before the money has really arrived.

Fonds de Compensation Avs/Ai/Apg: head office code versus branch codes

Our directory lists 5 SWIFT/BIC codes for Fonds de Compensation Avs/Ai/Apg. Next to the head office code FAVSCHGGXXX, you will find codes for individual branches and departments.

In most cases there is no need to pick a branch: transfers addressed to FAVSCHGGXXX reach Fonds de Compensation Avs/Ai/Apg correctly. When you receive a branch code, use it as it is rather than swapping it with the head office code.

The safest approach is to take the code directly from the recipient’s bank details. Codes for branches are more prone to change than FAVSCHGGXXX when a bank merges or closes offices.

International transfers from Fonds de Compensation Avs/Ai/Apg: the real cost

When you send money to another country from Fonds de Compensation Avs/Ai/Apg, the fee you see is only part of what you pay. On top of the transfer fee, correspondent or intermediary banks may take a cut, and if currencies are converted the bank usually uses a rate below the actual market rate.

Many banks do not list the margin on the rate separately, but you pay it all the same. Check the rate you are offered with the mid-market rate, the midpoint between buy and sell rates you see on financial sites; the gap is what conversion costs you.

Money transfer services often use a rate near the mid-market rate with clearer fees. Next time you send money, it is worth comparing the total cost on GoldexPay instead of going straight to your bank. Choosing a specialist does not mean leaving Fonds de Compensation Avs/Ai/Apg – you pay the provider from your own account.

Why Fonds de Compensation Avs/Ai/Apg has an 8- and an 11-character code

Every SWIFT/BIC code starts with an 8-character core: four letters for the bank, two letters for the country and a two-character location code. In this case, the 8-character core is FAVSCHGG.

The long version adds three more characters for a branch or department. When those three characters are XXX, they simply mean the head office.

Leave out spaces when you enter FAVSCHGG; the code is always written in one block. A single letter may route a payment to a different institution, so check it twice.

When will the money arrive at Fonds de Compensation Avs/Ai/Apg?

There is no single answer for every transfer: many land within a day. Transfers sent after the cut-off time or on a weekend or public holiday usually go out the next business day. Sometimes a bank wants to know what the payment is for, which can hold things up.

Many banks are connected to SWIFT gpi. Every gpi transfer carries a unique transaction reference, the UETR, which your bank can use to see where the money is. Save your transfer receipt until the recipient confirms.

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 for a partial amount because fees can reduce the amount.

Incoming international payments to Fonds de Compensation Avs/Ai/Apg

For an international payment at Fonds de Compensation Avs/Ai/Apg, the sender needs more than the SWIFT code. What they need is: the account holder’s name, account number or IBAN, FAVSCHGGXXX or FAVSCHGG and, for some countries, your home address.

Their bank might also ask for the bank address of Fonds de Compensation Avs/Ai/Apg; the head office in Geneva is usually fine. A mistake in the IBAN can be more trouble than you might think; copy them from your banking app rather than typing.

Expect that the incoming amount is below what the sender paid. Intermediary banks may deduct a fee, and if the currency changes, a markup on the rate applies. Make clear with the sender who pays which costs, especially for larger amounts.